Arthur J. Gallagher & Co. (NYSE:AJG) Shares Acquired by Procyon Advisors LLC

Procyon Advisors LLC boosted its stake in shares of Arthur J. Gallagher & Co. (NYSE:AJG) by 38.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,154 shares of the financial services provider’s stock after purchasing an additional 881 shares during the period. Procyon Advisors LLC’s holdings in Arthur J. Gallagher & Co. were worth $895,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in AJG. Strategic Investment Solutions Inc. IL acquired a new position in Arthur J. Gallagher & Co. in the second quarter valued at $26,000. Pin Oak Investment Advisors Inc. grew its holdings in shares of Arthur J. Gallagher & Co. by 543.8% during the 3rd quarter. Pin Oak Investment Advisors Inc. now owns 103 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 87 shares during the period. Quarry LP purchased a new position in Arthur J. Gallagher & Co. in the second quarter valued at approximately $29,000. Rakuten Securities Inc. lifted its position in Arthur J. Gallagher & Co. by 580.0% during the third quarter. Rakuten Securities Inc. now owns 102 shares of the financial services provider’s stock valued at $29,000 after buying an additional 87 shares in the last quarter. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA grew its stake in Arthur J. Gallagher & Co. by 47.6% during the third quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 152 shares of the financial services provider’s stock worth $44,000 after buying an additional 49 shares during the period. Institutional investors and hedge funds own 85.53% of the company’s stock.

Arthur J. Gallagher & Co. Price Performance

AJG opened at $295.22 on Friday. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.06 and a current ratio of 1.06. Arthur J. Gallagher & Co. has a 1-year low of $227.08 and a 1-year high of $316.72. The company has a 50-day moving average of $291.99 and a 200-day moving average of $286.85. The company has a market capitalization of $73.75 billion, a P/E ratio of 56.23 and a beta of 0.76.

Arthur J. Gallagher & Co. (NYSE:AJG) last announced its quarterly earnings data on Thursday, October 24th. The financial services provider reported $2.26 earnings per share (EPS) for the quarter, meeting the consensus estimate of $2.26. The firm had revenue of $2.77 billion for the quarter, compared to analysts’ expectations of $2.78 billion. Arthur J. Gallagher & Co. had a return on equity of 19.12% and a net margin of 10.40%. Arthur J. Gallagher & Co.’s revenue for the quarter was up 12.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.00 earnings per share. Equities analysts expect that Arthur J. Gallagher & Co. will post 10.06 EPS for the current fiscal year.

Arthur J. Gallagher & Co. Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 20th. Shareholders of record on Friday, December 6th were issued a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 0.81%. The ex-dividend date of this dividend was Friday, December 6th. Arthur J. Gallagher & Co.’s dividend payout ratio is presently 45.71%.

Insider Activity at Arthur J. Gallagher & Co.

In other news, VP Christopher E. Mead sold 2,800 shares of the company’s stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $287.00, for a total transaction of $803,600.00. Following the completion of the transaction, the vice president now owns 14,674 shares in the company, valued at approximately $4,211,438. This represents a 16.02 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Douglas K. Howell sold 7,000 shares of Arthur J. Gallagher & Co. stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $284.70, for a total transaction of $1,992,900.00. Following the completion of the sale, the chief financial officer now owns 75,963 shares in the company, valued at approximately $21,626,666.10. This represents a 8.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.60% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. Bank of America lifted their target price on shares of Arthur J. Gallagher & Co. from $271.00 to $293.00 and gave the company an “underperform” rating in a report on Thursday, October 10th. TD Cowen upgraded Arthur J. Gallagher & Co. from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $295.00 to $377.00 in a research note on Friday, January 10th. Jefferies Financial Group increased their target price on Arthur J. Gallagher & Co. from $269.00 to $274.00 and gave the company a “hold” rating in a research note on Wednesday, October 9th. Wells Fargo & Company upped their price target on Arthur J. Gallagher & Co. from $315.00 to $344.00 and gave the stock an “overweight” rating in a report on Tuesday, December 10th. Finally, The Goldman Sachs Group lowered shares of Arthur J. Gallagher & Co. from a “buy” rating to a “neutral” rating and set a $313.00 price objective on the stock. in a research note on Monday, November 25th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $304.07.

Arthur J. Gallagher & Co. Profile

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.