nVerses Capital LLC Purchases Shares of 3,500 Arthur J. Gallagher & Co. (NYSE:AJG)

nVerses Capital LLC purchased a new position in Arthur J. Gallagher & Co. (NYSE:AJG) in the third quarter, Holdings Channel.com reports. The institutional investor purchased 3,500 shares of the financial services provider’s stock, valued at approximately $985,000.

Other large investors have also bought and sold shares of the company. Miracle Mile Advisors LLC grew its holdings in shares of Arthur J. Gallagher & Co. by 0.8% during the third quarter. Miracle Mile Advisors LLC now owns 4,583 shares of the financial services provider’s stock valued at $1,289,000 after buying an additional 38 shares during the last quarter. Signaturefd LLC grew its holdings in shares of Arthur J. Gallagher & Co. by 1.0% during the second quarter. Signaturefd LLC now owns 3,825 shares of the financial services provider’s stock valued at $992,000 after buying an additional 39 shares during the last quarter. Ritholtz Wealth Management grew its holdings in shares of Arthur J. Gallagher & Co. by 0.4% during the third quarter. Ritholtz Wealth Management now owns 8,786 shares of the financial services provider’s stock valued at $2,472,000 after buying an additional 39 shares during the last quarter. Trueblood Wealth Management LLC grew its holdings in shares of Arthur J. Gallagher & Co. by 0.4% during the second quarter. Trueblood Wealth Management LLC now owns 9,290 shares of the financial services provider’s stock valued at $2,409,000 after buying an additional 40 shares during the last quarter. Finally, J.W. Cole Advisors Inc. grew its holdings in shares of Arthur J. Gallagher & Co. by 4.7% during the first quarter. J.W. Cole Advisors Inc. now owns 983 shares of the financial services provider’s stock valued at $246,000 after buying an additional 44 shares during the last quarter. 85.53% of the stock is currently owned by institutional investors and hedge funds.

Arthur J. Gallagher & Co. Stock Up 0.4 %

Shares of NYSE:AJG traded up $1.08 during midday trading on Thursday, reaching $290.60. The company’s stock had a trading volume of 198,045 shares, compared to its average volume of 844,486. The firm has a 50 day moving average of $288.55 and a 200-day moving average of $267.20. The firm has a market capitalization of $63.50 billion, a P/E ratio of 58.61, a PEG ratio of 2.53 and a beta of 0.72. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.67. Arthur J. Gallagher & Co. has a 12-month low of $218.63 and a 12-month high of $301.04.

Arthur J. Gallagher & Co. (NYSE:AJG) last announced its quarterly earnings results on Thursday, July 25th. The financial services provider reported $2.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.24 by $0.02. Arthur J. Gallagher & Co. had a net margin of 10.41% and a return on equity of 19.25%. The firm had revenue of $2.73 billion for the quarter, compared to the consensus estimate of $2.77 billion. During the same quarter last year, the firm posted $1.90 EPS. The business’s quarterly revenue was up 14.3% compared to the same quarter last year. On average, research analysts anticipate that Arthur J. Gallagher & Co. will post 10.11 earnings per share for the current year.

Arthur J. Gallagher & Co. Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 20th. Stockholders of record on Friday, September 6th were paid a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 0.83%. The ex-dividend date of this dividend was Friday, September 6th. Arthur J. Gallagher & Co.’s dividend payout ratio (DPR) is presently 48.58%.

Wall Street Analyst Weigh In

Several brokerages have commented on AJG. BMO Capital Markets lifted their price objective on shares of Arthur J. Gallagher & Co. from $275.00 to $295.00 and gave the stock an “outperform” rating in a research report on Friday, July 26th. Royal Bank of Canada boosted their price target on shares of Arthur J. Gallagher & Co. from $310.00 to $320.00 and gave the company an “outperform” rating in a research report on Friday, September 20th. Piper Sandler boosted their price objective on shares of Arthur J. Gallagher & Co. from $254.00 to $293.00 and gave the company a “neutral” rating in a research note on Friday, September 20th. UBS Group boosted their price objective on shares of Arthur J. Gallagher & Co. from $260.00 to $292.00 and gave the company a “neutral” rating in a research note on Wednesday, July 31st. Finally, TD Cowen upped their price target on shares of Arthur J. Gallagher & Co. from $273.00 to $288.00 and gave the company a “hold” rating in a report on Tuesday, August 13th. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating and four have assigned a buy rating to the company. According to MarketBeat, Arthur J. Gallagher & Co. has a consensus rating of “Hold” and a consensus price target of $287.00.

Insider Transactions at Arthur J. Gallagher & Co.

In other Arthur J. Gallagher & Co. news, CFO Douglas K. Howell sold 8,710 shares of Arthur J. Gallagher & Co. stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $285.07, for a total transaction of $2,482,959.70. Following the completion of the transaction, the chief financial officer now directly owns 75,963 shares of the company’s stock, valued at $21,654,772.41. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Arthur J. Gallagher & Co. news, CFO Douglas K. Howell sold 8,710 shares of the business’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $285.07, for a total value of $2,482,959.70. Following the completion of the transaction, the chief financial officer now directly owns 75,963 shares in the company, valued at approximately $21,654,772.41. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, General Counsel Walter D. Bay sold 6,335 shares of the business’s stock in a transaction dated Tuesday, July 30th. The stock was sold at an average price of $284.06, for a total value of $1,799,520.10. Following the sale, the general counsel now owns 30,053 shares in the company, valued at $8,536,855.18. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 44,145 shares of company stock worth $12,622,660 in the last quarter. Company insiders own 1.60% of the company’s stock.

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.