Simon Quick Advisors LLC Makes New Investment in Arthur J. Gallagher & Co. (NYSE:AJG)

Simon Quick Advisors LLC purchased a new position in shares of Arthur J. Gallagher & Co. (NYSE:AJG) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 805 shares of the financial services provider’s stock, valued at approximately $229,000.

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

Arthur J. Gallagher & Co. Stock Up 0.6 %

Shares of NYSE:AJG opened at $289.71 on Friday. Arthur J. Gallagher & Co. has a 1 year low of $227.08 and a 1 year high of $316.72. The stock has a 50-day simple moving average of $291.84 and a 200-day simple moving average of $287.52. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.06 and a current ratio of 1.06. The stock has a market capitalization of $72.37 billion, a P/E ratio of 55.18 and a beta of 0.76.

Arthur J. Gallagher & Co. (NYSE:AJG) last released its quarterly earnings data on Thursday, October 24th. The financial services provider reported $2.26 EPS for the quarter, meeting the consensus estimate of $2.26. Arthur J. Gallagher & Co. had a return on equity of 19.12% and a net margin of 10.40%. The company had revenue of $2.77 billion for the quarter, compared to analyst estimates of $2.78 billion. During the same period last year, the company posted $2.00 earnings per share. The firm’s revenue was up 12.8% compared to the same quarter last year. Equities analysts forecast that Arthur J. Gallagher & Co. will post 10.05 earnings per share for the current year.

Insiders Place Their Bets

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

Analysts Set New Price Targets

Several equities analysts recently weighed in on AJG shares. Piper Sandler raised Arthur J. Gallagher & Co. from a “neutral” rating to an “overweight” rating and raised their price objective for the company from $285.00 to $315.00 in a research note on Wednesday, January 8th. Wells Fargo & Company increased their price objective on shares of Arthur J. Gallagher & Co. from $315.00 to $344.00 and gave the company an “overweight” rating in a research note on Tuesday, December 10th. The Goldman Sachs Group downgraded shares of Arthur J. Gallagher & Co. from a “buy” rating to a “neutral” rating and set a $313.00 price target on the stock. in a report on Monday, November 25th. Bank of America upped their target price on Arthur J. Gallagher & Co. from $271.00 to $293.00 and gave the company an “underperform” rating in a research note on Thursday, October 10th. Finally, TD Cowen raised Arthur J. Gallagher & Co. from a “hold” rating to a “buy” rating and boosted their price target for the stock from $295.00 to $377.00 in a report on Friday, January 10th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, Arthur J. Gallagher & Co. has an average rating of “Hold” and an average target price of $304.07.

Arthur J. Gallagher & Co. Company Profile

Arthur J. Gallagher & Co engages in the provision of insurance brokerage, reinsurance brokerage, consulting, and third-party claims settlement and administration services. It operates through the following business segments: Brokerage, Risk Management, and Corporate. The Brokerage segment consists of retail and wholesale insurance brokerage operations.