Marsico Capital Management LLC Has $2.97 Million Stake in Arthur J. Gallagher & Co. (NYSE:AJG)

Marsico Capital Management LLC raised its holdings in Arthur J. Gallagher & Co. (NYSE:AJG) by 316.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 11,447 shares of the financial services provider’s stock after buying an additional 8,701 shares during the period. Marsico Capital Management LLC’s holdings in Arthur J. Gallagher & Co. were worth $2,968,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in the business. Signaturefd LLC boosted its stake in Arthur J. Gallagher & Co. by 1.0% during the 2nd quarter. Signaturefd LLC now owns 3,825 shares of the financial services provider’s stock valued at $992,000 after purchasing an additional 39 shares during the last quarter. Trueblood Wealth Management LLC grew its holdings in 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 worth $2,409,000 after buying an additional 40 shares in the last quarter. J.W. Cole Advisors Inc. raised its position in Arthur J. Gallagher & Co. by 4.7% in the 1st 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. ERn Financial LLC boosted its holdings in Arthur J. Gallagher & Co. by 1.9% during the 1st quarter. ERn Financial LLC now owns 2,542 shares of the financial services provider’s stock worth $636,000 after acquiring an additional 47 shares during the last quarter. Finally, Signature Estate & Investment Advisors LLC grew its stake in shares of Arthur J. Gallagher & Co. by 0.8% in the 2nd quarter. Signature Estate & Investment Advisors LLC now owns 6,331 shares of the financial services provider’s stock worth $1,642,000 after acquiring an additional 48 shares in the last quarter. 85.53% of the stock is currently owned by institutional investors and hedge funds.

Arthur J. Gallagher & Co. Stock Performance

NYSE:AJG opened at $295.94 on Wednesday. The business’s fifty day moving average is $284.68 and its 200 day moving average is $262.15. The firm has a market cap of $64.66 billion, a price-to-earnings ratio of 59.91, a PEG ratio of 2.47 and a beta of 0.72. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.04 and a current ratio of 1.04. Arthur J. Gallagher & Co. has a 52-week low of $218.63 and a 52-week 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, topping analysts’ consensus estimates of $2.24 by $0.02. The firm had revenue of $2.73 billion for the quarter, compared to the consensus estimate of $2.77 billion. Arthur J. Gallagher & Co. had a net margin of 10.41% and a return on equity of 19.25%. The company’s revenue for the quarter was up 14.3% on a year-over-year basis. During the same period in the prior year, the firm posted $1.90 earnings per share. Research analysts predict that Arthur J. Gallagher & Co. will post 10.16 EPS for the current year.

Arthur J. Gallagher & Co. Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 20th. Investors of record on Friday, September 6th will be given a $0.60 dividend. The ex-dividend date is Friday, September 6th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 0.81%. Arthur J. Gallagher & Co.’s dividend payout ratio (DPR) is presently 48.58%.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. Bank Of America (Bofa) raised their price target on shares of Arthur J. Gallagher & Co. from $255.00 to $265.00 and gave the company an “underperform” rating in a research report on Friday, July 26th. Piper Sandler boosted their target price on Arthur J. Gallagher & Co. from $252.00 to $254.00 and gave the stock a “neutral” rating in a research note on Friday, July 26th. Jefferies Financial Group increased their price target on Arthur J. Gallagher & Co. from $264.00 to $267.00 in a research report on Friday, July 26th. TD Cowen boosted their price objective 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. Finally, Bank of America raised their target price on Arthur J. Gallagher & Co. from $233.00 to $255.00 and gave the company an “underperform” rating in a research report on Wednesday, May 22nd. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $276.82.

Insider Buying and Selling

In other news, President Michael Robert Pesch sold 7,100 shares of Arthur J. Gallagher & Co. stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $296.20, for a total transaction of $2,103,020.00. Following the completion of the sale, the president now owns 33,267 shares in the company, valued at approximately $9,853,685.40. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, President Thomas Joseph Gallagher sold 15,000 shares of the firm’s stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $282.96, for a total transaction of $4,244,400.00. Following the sale, the president now owns 329,099 shares in the company, valued at approximately $93,121,853.04. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, President Michael Robert Pesch sold 7,100 shares of the stock in a transaction on Friday, September 13th. The shares were sold at an average price of $296.20, for a total value of $2,103,020.00. Following the completion of the transaction, the president now directly owns 33,267 shares in the company, valued at approximately $9,853,685.40. The disclosure for this sale can be found here. Insiders sold a total of 37,145 shares of company stock worth $10,629,900 over the last ninety days. 1.60% of the stock is owned by corporate 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.