2 weeks Ago By Defense World Staff
Newport Capital Group LLC acquired a new position in shares of Arthur J. Gallagher & Co. ( NYSE:AJG – Free Report ) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission.
The firm acquired 59,296 shares of the financial services provider’s stock, valued at approximately $15,376,000. Arthur J. Gallagher & Co.
accounts for approximately 12.2% of Newport Capital Group LLC’s portfolio, making the stock its biggest holding. Several other institutional investors and hedge funds also recently bought and sold shares of AJG.
Mark Sheptoff Financial Planning LLC acquired a new position in shares of Arthur J. Gallagher & Co. in the second quarter worth $26,000.
Richardson Financial Services Inc. purchased a new stake in shares of Arthur J. Gallagher & Co.
during the 4th quarter worth about $27,000. Creekmur Asset Management LLC acquired a new stake in shares of Arthur J. Gallagher & Co.
during the 1st quarter valued at about $27,000. DiNuzzo Private Wealth Inc. increased its holdings in Arthur J.
Gallagher & Co. by 89.7% in the second quarter.
DiNuzzo Private Wealth Inc. now owns 110 shares of the financial services provider’s stock worth $29,000 after buying an additional 52 shares during the last quarter. Finally, Quarry LP bought a new position in Arthur J.
Gallagher & Co. during the second quarter valued at approximately $29,000. Hedge funds and other institutional investors own 85.
53% of the company’s stock. Arthur J. Gallagher & Co.
Stock Performance AJG opened at $279.45 on Monday. The stock’s 50 day simple moving average is $286.
46 and its 200-day simple moving average is $263.89. The company has a current ratio of 1.
04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.67.
The stock has a market cap of $61.06 billion, a PE ratio of 56.57, a P/E/G ratio of 2.
37 and a beta of 0.72. Arthur J.
Gallagher & Co. has a 1 year low of $218.63 and a 1 year high of $301.
04. Arthur J. Gallagher & Co.
Announces Dividend The business also recently disclosed a quarterly dividend, which was paid on Friday, September 20th. Shareholders of record on Friday, September 6th were issued a dividend of $0.60 per share.
This represents a $2.40 dividend on an annualized basis and a yield of 0.86%.
The ex-dividend date was Friday, September 6th. Arthur J. Gallagher & Co.
’s payout ratio is 48.58%. Wall Street Analysts Forecast Growth Several brokerages have recently commented on AJG.
Royal Bank of Canada increased their price target on shares of Arthur J. Gallagher & Co. from $310.
00 to $320.00 and gave the stock an “outperform” rating in a research note on Friday, September 20th. Bank Of America (Bofa) raised their target price on Arthur J.
Gallagher & Co. from $255.00 to $265.
00 and gave the company an “underperform” rating in a report on Friday, July 26th. Piper Sandler upped their price target on Arthur J. Gallagher & Co.
from $254.00 to $293.00 and gave the stock a “neutral” rating in a research note on Friday, September 20th.
BMO Capital Markets raised their price objective on Arthur J. Gallagher & Co. from $275.
00 to $295.00 and gave the company an “outperform” rating in a research note on Friday, July 26th. Finally, Barclays assumed coverage on Arthur J.
Gallagher & Co. in a research report on Wednesday, September 4th. They set an “equal weight” rating and a $300.
00 target price for the company. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, Arthur J.
Gallagher & Co. currently has an average rating of “Hold” and an average target price of $282.93.
Read Our Latest Report on AJG Insider Activity In related news, President Thomas Joseph Gallagher sold 15,000 shares of the business’s stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $282.96, for a total value of $4,244,400.
00. Following the sale, the president now owns 329,099 shares of the company’s stock, valued at approximately $93,121,853.04.
The sale was disclosed in a legal filing with the SEC, which is available through this link . In related news, President Thomas Joseph Gallagher sold 15,000 shares of Arthur J. Gallagher & Co.
stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $282.96, for a total transaction of $4,244,400.
00. Following the completion of the transaction, the president now directly owns 329,099 shares of the company’s stock, valued at approximately $93,121,853.04.
The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website . Also, General Counsel Walter D. Bay sold 6,335 shares of the company’s stock in a transaction dated Tuesday, July 30th.
The stock was sold at an average price of $284.06, for a total transaction of $1,799,520.10.
Following the sale, the general counsel now directly owns 30,053 shares in the company, valued at $8,536,855.18. The disclosure for this sale can be found here .
In the last ninety days, insiders have sold 44,145 shares of company stock worth $12,622,660. Company insiders own 1.60% of the company’s stock.
About Arthur J. Gallagher & Co. ( Free Report ) Arthur J.
Gallagher & Co, together with its subsidiaries, provides insurance and reinsurance brokerage, consulting, and third-party property/casualty claims settlement and administration services to entities and individuals worldwide. It operates in Brokerage and Risk Management segments. The Brokerage segment offers retail and wholesale insurance and reinsurance brokerage services; assists retail brokers and other non-affiliated brokers in the placement of specialized and hard-to-place insurance; and acts as a brokerage wholesaler, managing general agent, and managing general underwriter for distributing specialized insurance coverages to underwriting enterprises.
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