2,985 Shares in Arthur J. Gallagher & Co. (NYSE:AJG) Acquired by Virtue Capital Management LLC

Virtue Capital Management LLC acquired a new stake in shares of Arthur J. Gallagher & Co. (NYSE:AJG) in the 3rd quarter, Holdings Channel.com reports. The institutional investor acquired 2,985 shares of the financial services provider’s stock, valued at approximately $840,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Arete Wealth Advisors LLC grew its position in Arthur J. Gallagher & Co. by 2.7% during the third quarter. Arete Wealth Advisors LLC now owns 4,394 shares of the financial services provider’s stock valued at $1,232,000 after acquiring an additional 117 shares during the period. Neo Ivy Capital Management purchased a new stake in shares of Arthur J. Gallagher & Co. during the 3rd quarter worth about $1,688,000. Coldstream Capital Management Inc. increased its position in Arthur J. Gallagher & Co. by 6.9% during the 3rd quarter. Coldstream Capital Management Inc. now owns 13,550 shares of the financial services provider’s stock worth $3,816,000 after purchasing an additional 875 shares in the last quarter. Geode Capital Management LLC raised its holdings in Arthur J. Gallagher & Co. by 1.5% in the third quarter. Geode Capital Management LLC now owns 5,490,728 shares of the financial services provider’s stock valued at $1,541,044,000 after buying an additional 79,429 shares during the period. Finally, Geller Advisors LLC lifted its position in Arthur J. Gallagher & Co. by 0.6% during the third quarter. Geller Advisors LLC now owns 7,187 shares of the financial services provider’s stock valued at $2,022,000 after buying an additional 44 shares in the last quarter. 85.53% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. Truist Financial increased their price objective on shares of Arthur J. Gallagher & Co. from $265.00 to $275.00 and gave the stock a “hold” rating in a research report on Friday, September 20th. Royal Bank of Canada raised their price objective on 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. TD Cowen upped their target price on Arthur J. Gallagher & Co. from $273.00 to $288.00 and gave the stock a “hold” rating in a research report on Tuesday, August 13th. Bank of America raised their target price on Arthur J. Gallagher & Co. from $271.00 to $293.00 and gave the company an “underperform” rating in a report on Thursday, October 10th. Finally, The Goldman Sachs Group cut Arthur J. Gallagher & Co. from a “buy” rating to a “neutral” rating and set a $313.00 price target for the company. in a report on Monday, November 25th. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $293.71.

Arthur J. Gallagher & Co. Trading Down 2.8 %

NYSE:AJG opened at $283.65 on Wednesday. The company has a market cap of $62.23 billion, a PE ratio of 54.03, a P/E/G ratio of 2.53 and a beta of 0.74. The business’s 50 day moving average is $293.62 and its two-hundred day moving average is $281.35. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.64. Arthur J. Gallagher & Co. has a 52 week low of $218.63 and a 52 week high of $316.72.

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, hitting 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 firm had revenue of $2.77 billion during the quarter, compared to the consensus estimate of $2.78 billion. During the same quarter in the previous year, the company posted $2.00 earnings per share. The firm’s revenue was up 12.8% on a year-over-year basis. On average, analysts predict that Arthur J. Gallagher & Co. will post 10.12 EPS for the current year.

Arthur J. Gallagher & Co. Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Friday, December 6th will be given a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 0.85%. The ex-dividend date of this dividend is Friday, December 6th. Arthur J. Gallagher & Co.’s dividend payout ratio is presently 45.71%.

Insider Buying and Selling

In other Arthur J. Gallagher & Co. news, President Michael Robert Pesch sold 7,100 shares of the stock in a transaction on Friday, September 13th. The stock was sold at an average price of $296.20, for a total value of $2,103,020.00. Following the sale, the president now directly owns 33,267 shares of the company’s stock, valued at $9,853,685.40. This trade represents a 17.59 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Douglas K. Howell sold 7,000 shares of the business’s stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $284.68, for a total transaction of $1,992,760.00. Following the transaction, the chief financial officer now directly owns 75,963 shares of the company’s stock, valued at approximately $21,625,146.84. This trade represents a 8.44 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 23,900 shares of company stock worth $6,892,280 over the last quarter. 1.60% of the stock is owned by company insiders.

Arthur J. Gallagher & Co. Company 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.