TrinityPoint Wealth LLC Increases Stake in Arthur J. Gallagher & Co. (NYSE:AJG)

TrinityPoint Wealth LLC raised its holdings in shares of Arthur J. Gallagher & Co. (NYSE:AJG) by 2.7% during the 3rd quarter, HoldingsChannel reports. The fund owned 4,363 shares of the financial services provider’s stock after acquiring an additional 115 shares during the quarter. TrinityPoint Wealth LLC’s holdings in Arthur J. Gallagher & Co. were worth $1,227,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of the business. Janus Henderson Group PLC lifted its position in Arthur J. Gallagher & Co. by 180.6% during the first quarter. Janus Henderson Group PLC now owns 1,228,266 shares of the financial services provider’s stock valued at $307,076,000 after purchasing an additional 790,467 shares in the last quarter. Capital International Investors raised its stake in shares of Arthur J. Gallagher & Co. by 7.0% in the first quarter. Capital International Investors now owns 11,050,941 shares of the financial services provider’s stock worth $2,763,177,000 after buying an additional 727,325 shares during the period. The Manufacturers Life Insurance Company lifted its position in shares of Arthur J. Gallagher & Co. by 219.6% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 1,043,769 shares of the financial services provider’s stock valued at $270,660,000 after buying an additional 717,221 shares in the last quarter. Principal Financial Group Inc. grew its stake in shares of Arthur J. Gallagher & Co. by 231.2% during the 3rd quarter. Principal Financial Group Inc. now owns 885,796 shares of the financial services provider’s stock valued at $249,237,000 after acquiring an additional 618,362 shares during the period. Finally, Capital World Investors raised its stake in Arthur J. Gallagher & Co. by 9.0% during the 1st quarter. Capital World Investors now owns 4,832,060 shares of the financial services provider’s stock worth $1,208,208,000 after acquiring an additional 398,350 shares during the period. Institutional investors own 85.53% of the company’s stock.

Insiders Place Their Bets

In related news, CFO Douglas K. Howell sold 7,000 shares of the firm’s stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $284.68, for a total value of $1,992,760.00. Following the completion of the sale, the chief financial officer now directly owns 75,963 shares in the company, valued at $21,625,146.84. This trade represents a 8.44 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Christopher E. Mead sold 2,800 shares of the business’s stock in a transaction on Monday, October 28th. The shares were sold at an average price of $287.00, for a total transaction of $803,600.00. Following the transaction, the vice president now owns 14,674 shares in the company, valued at $4,211,438. This trade represents a 16.02 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 23,900 shares of company stock valued at $6,892,280 over the last ninety days. 1.60% of the stock is owned by insiders.

Arthur J. Gallagher & Co. Stock Performance

NYSE:AJG opened at $294.58 on Monday. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.06 and a quick ratio of 1.06. The company has a market cap of $64.63 billion, a price-to-earnings ratio of 56.11, a PEG ratio of 2.51 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. The stock’s 50 day simple moving average is $288.49 and its two-hundred day simple moving average is $275.22.

Arthur J. Gallagher & Co. (NYSE:AJG) last released its quarterly earnings results on Thursday, October 24th. The financial services provider reported $2.26 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $2.26. Arthur J. Gallagher & Co. had a net margin of 10.40% and a return on equity of 19.12%. The company had revenue of $2.77 billion for the quarter, compared to the consensus estimate of $2.78 billion. During the same quarter in the prior year, the firm earned $2.00 earnings per share. Arthur J. Gallagher & Co.’s revenue was up 12.8% on a year-over-year basis. As a group, equities analysts anticipate that Arthur J. Gallagher & Co. will post 10.11 earnings per share for the current fiscal year.

Arthur J. Gallagher & Co. Announces Dividend

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

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. Bank of America upped their price target on shares of Arthur J. Gallagher & Co. from $271.00 to $293.00 and gave the stock an “underperform” rating in a research report on Thursday, October 10th. Wells Fargo & Company increased their price target on Arthur J. Gallagher & Co. from $309.00 to $315.00 and gave the stock an “overweight” rating in a research note on Thursday, October 10th. Keefe, Bruyette & Woods boosted their price objective on Arthur J. Gallagher & Co. from $241.00 to $252.00 and gave the company an “underperform” rating in a research report on Friday, July 26th. UBS Group increased their target price on Arthur J. Gallagher & Co. from $260.00 to $292.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 31st. Finally, TD Cowen boosted their price target on Arthur J. Gallagher & Co. from $273.00 to $288.00 and gave the stock a “hold” rating in a report on Tuesday, August 13th. Three equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $289.14.

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.