Arthur J. Gallagher & Co. $AJG Holdings Boosted by Brookstone Capital Management

Brookstone Capital Management raised its position in shares of Arthur J. Gallagher & Co. (NYSE:AJG) by 33.6% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 51,316 shares of the financial services provider’s stock after purchasing an additional 12,903 shares during the quarter. Brookstone Capital Management’s holdings in Arthur J. Gallagher & Co. were worth $15,894,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Factory Mutual Insurance Co. grew its position in Arthur J. Gallagher & Co. by 107.1% during the second quarter. Factory Mutual Insurance Co. now owns 14,500 shares of the financial services provider’s stock valued at $4,642,000 after purchasing an additional 7,500 shares in the last quarter. Fairfield Financial Advisors LTD boosted its stake in shares of Arthur J. Gallagher & Co. by 21.4% during the 2nd quarter. Fairfield Financial Advisors LTD now owns 9,961 shares of the financial services provider’s stock valued at $3,189,000 after buying an additional 1,758 shares during the period. Petra Financial Advisors Inc. acquired a new position in shares of Arthur J. Gallagher & Co. in the second quarter worth $812,000. Boston Partners raised its holdings in shares of Arthur J. Gallagher & Co. by 0.4% during the second quarter. Boston Partners now owns 735,759 shares of the financial services provider’s stock worth $234,226,000 after acquiring an additional 2,806 shares in the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in Arthur J. Gallagher & Co. by 4.2% during the second quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 2,381,835 shares of the financial services provider’s stock valued at $762,473,000 after purchasing an additional 94,940 shares during the last quarter. Institutional investors and hedge funds own 85.53% of the company’s stock.

Arthur J. Gallagher & Co. Trading Up 0.8%

NYSE:AJG opened at $260.77 on Thursday. The company’s 50 day moving average is $255.88 and its 200-day moving average is $287.76. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.52. Arthur J. Gallagher & Co. has a 12 month low of $236.34 and a 12 month high of $351.23. The firm has a market cap of $66.97 billion, a price-to-earnings ratio of 38.98 and a beta of 0.69.

Arthur J. Gallagher & Co. (NYSE:AJG) last posted its quarterly earnings data on Thursday, October 30th. The financial services provider reported $2.32 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.51 by ($0.19). The firm had revenue of $3.33 billion for the quarter, compared to the consensus estimate of $3.34 billion. Arthur J. Gallagher & Co. had a return on equity of 11.98% and a net margin of 13.58%.Arthur J. Gallagher & Co.’s quarterly revenue was up 20.2% on a year-over-year basis. During the same period in the prior year, the company posted $2.26 earnings per share. Equities analysts anticipate that Arthur J. Gallagher & Co. will post 11.54 EPS for the current year.

Arthur J. Gallagher & Co. Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 19th. Stockholders of record on Friday, December 5th were paid a $0.65 dividend. The ex-dividend date was Friday, December 5th. This represents a $2.60 dividend on an annualized basis and a dividend yield of 1.0%. Arthur J. Gallagher & Co.’s payout ratio is presently 38.86%.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on AJG. The Goldman Sachs Group set a $293.00 target price on Arthur J. Gallagher & Co. in a research report on Wednesday, December 17th. Needham & Company LLC set a $272.00 price objective on shares of Arthur J. Gallagher & Co. in a research report on Thursday, December 18th. Citigroup reduced their target price on shares of Arthur J. Gallagher & Co. from $330.00 to $277.00 and set a “neutral” rating for the company in a research note on Monday, November 3rd. Weiss Ratings restated a “hold (c+)” rating on shares of Arthur J. Gallagher & Co. in a research note on Monday. Finally, Truist Financial reduced their price objective on shares of Arthur J. Gallagher & Co. from $290.00 to $280.00 and set a “hold” rating for the company in a research note on Tuesday, December 16th. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $302.22.

Insiders Place Their Bets

In other news, CAO Richard C. Cary sold 6,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 18th. The stock was sold at an average price of $261.00, for a total transaction of $1,566,000.00. Following the completion of the transaction, the chief accounting officer directly owned 50,668 shares in the company, valued at $13,224,348. The trade was a 10.59% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, General Counsel Walter D. Bay sold 15,850 shares of the firm’s stock in a transaction on Friday, December 19th. The stock was sold at an average price of $255.00, for a total transaction of $4,041,750.00. Following the completion of the sale, the general counsel owned 79,549 shares in the company, valued at approximately $20,284,995. The trade was a 16.61% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 23,100 shares of company stock worth $5,921,175 over the last quarter. 1.60% of the stock is currently owned by company insiders.

About Arthur J. Gallagher & Co.

Arthur J. Gallagher & Co is a global insurance brokerage and risk management firm headquartered in Rolling Meadows, Illinois. Founded in 1927 by Arthur J. Gallagher, the company has grown from a regional broker into an international professional services organization that arranges insurance, provides consulting and designs risk-transfer solutions for commercial, industrial, public sector and individual clients.

The company’s core activities include property and casualty insurance brokerage, employee benefits consulting and administration, and a range of risk management services.