Allen Capital Group LLC Has $376,000 Position in Arthur J. Gallagher & Co. (NYSE:AJG)

Allen Capital Group LLC raised its position in Arthur J. Gallagher & Co. (NYSE:AJG) by 3.6% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,335 shares of the financial services provider’s stock after acquiring an additional 46 shares during the quarter. Allen Capital Group LLC’s holdings in Arthur J. Gallagher & Co. were worth $376,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in AJG. Citigroup Inc. raised its position in shares of Arthur J. Gallagher & Co. by 101.8% in the third quarter. Citigroup Inc. now owns 305,002 shares of the financial services provider’s stock valued at $85,819,000 after purchasing an additional 153,884 shares during the period. Pacer Advisors Inc. raised its position in shares of Arthur J. Gallagher & Co. by 13.5% in the third quarter. Pacer Advisors Inc. now owns 29,723 shares of the financial services provider’s stock valued at $8,363,000 after purchasing an additional 3,541 shares during the period. Massachusetts Financial Services Co. MA raised its position in shares of Arthur J. Gallagher & Co. by 13.6% in the third quarter. Massachusetts Financial Services Co. MA now owns 3,196,992 shares of the financial services provider’s stock valued at $899,538,000 after purchasing an additional 383,130 shares during the period. Trustmark National Bank Trust Department raised its position in shares of Arthur J. Gallagher & Co. by 17.0% in the third quarter. Trustmark National Bank Trust Department now owns 3,439 shares of the financial services provider’s stock valued at $968,000 after purchasing an additional 500 shares during the period. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its position in shares of Arthur J. Gallagher & Co. by 0.6% in the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 30,432 shares of the financial services provider’s stock valued at $8,563,000 after purchasing an additional 189 shares during the period. Institutional investors and hedge funds own 85.53% of the company’s stock.

Arthur J. Gallagher & Co. Price Performance

AJG stock opened at $304.29 on Friday. 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 12 month low of $218.63 and a 12 month high of $308.00. The firm has a market cap of $66.76 billion, a P/E ratio of 57.96, a P/E/G ratio of 2.49 and a beta of 0.72. The company’s 50-day moving average price is $288.55 and its two-hundred day moving average price is $276.73.

Arthur J. Gallagher & Co. (NYSE:AJG) last released its earnings results 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 net margin of 10.40% and a return on equity of 19.12%. The firm had revenue of $2.77 billion for the quarter, compared to analyst estimates of $2.78 billion. During the same period last year, the firm earned $2.00 EPS. The business’s quarterly revenue was up 12.8% compared to the same quarter last year. On average, analysts anticipate that Arthur J. Gallagher & Co. will post 10.11 earnings per share for the current fiscal year.

Arthur J. Gallagher & Co. Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Friday, December 6th will be issued a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 0.79%. The ex-dividend date is Friday, December 6th. Arthur J. Gallagher & Co.’s dividend payout ratio is currently 45.71%.

Insider Activity

In other news, President Michael Robert Pesch sold 7,100 shares of the firm’s stock in a transaction that occurred 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 sale, the president now directly owns 33,267 shares in the company, valued at approximately $9,853,685.40. This trade represents a 17.59 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Douglas K. Howell sold 7,000 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the chief financial officer now owns 75,963 shares in the company, valued at approximately $21,625,146.84. The trade was a 8.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 23,900 shares of company stock worth $6,892,280. Corporate insiders own 1.60% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on AJG shares. Royal Bank of Canada increased their price objective 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. Jefferies Financial Group increased their price objective on shares of Arthur J. Gallagher & Co. from $269.00 to $274.00 and gave the company a “hold” rating in a research report on Wednesday, October 9th. Barclays increased their price objective on shares of Arthur J. Gallagher & Co. from $300.00 to $308.00 and gave the company an “equal weight” rating in a research report on Thursday. Wells Fargo & Company raised their price target on shares of Arthur J. Gallagher & Co. from $309.00 to $315.00 and gave the stock an “overweight” rating in a research report on Thursday, October 10th. Finally, BMO Capital Markets raised their price target on shares of Arthur J. Gallagher & Co. from $312.00 to $325.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 12th. 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. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $289.71.

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.