Menard Financial Group LLC Purchases 61 Shares of Arthur J. Gallagher & Co. (NYSE:AJG)

Menard Financial Group LLC boosted its position in shares of Arthur J. Gallagher & Co. (NYSE:AJG) by 1.7% in the second quarter, Holdings Channel.com reports. The institutional investor owned 3,743 shares of the financial services provider’s stock after acquiring an additional 61 shares during the period. Menard Financial Group LLC’s holdings in Arthur J. Gallagher & Co. were worth $971,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. Creekmur Asset Management LLC bought a new stake in Arthur J. Gallagher & Co. in the first quarter worth $27,000. DiNuzzo Private Wealth Inc. raised its position in shares of Arthur J. Gallagher & Co. by 89.7% during the 2nd quarter. DiNuzzo Private Wealth Inc. now owns 110 shares of the financial services provider’s stock valued at $29,000 after buying an additional 52 shares in the last quarter. Y.D. More Investments Ltd purchased a new position in Arthur J. Gallagher & Co. in the second quarter worth about $30,000. Richardson Financial Services Inc. bought a new stake in Arthur J. Gallagher & Co. during the fourth quarter worth approximately $27,000. Finally, Transcendent Capital Group LLC purchased a new stake in Arthur J. Gallagher & Co. during the fourth quarter valued at approximately $31,000. Hedge funds and other institutional investors own 85.53% of the company’s stock.

Analyst Ratings Changes

AJG has been the topic of several analyst reports. The Goldman Sachs Group boosted their target price on Arthur J. Gallagher & Co. from $272.00 to $286.00 in a research report on Friday, July 26th. BMO Capital Markets raised their target price on shares of Arthur J. Gallagher & Co. from $275.00 to $295.00 and gave the stock an “outperform” rating in a report on Friday, July 26th. UBS Group increased their price objective on shares of Arthur J. Gallagher & Co. from $260.00 to $292.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 31st. TD Cowen boosted their target price on Arthur J. Gallagher & Co. from $273.00 to $288.00 and gave the company a “hold” rating in a research report on Tuesday, August 13th. Finally, Jefferies Financial Group increased their price target on Arthur J. Gallagher & Co. from $264.00 to $267.00 in a report on Friday, July 26th. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, Arthur J. Gallagher & Co. presently has an average rating of “Hold” and an average price target of $276.82.

Arthur J. Gallagher & Co. Price Performance

Shares of AJG opened at $297.39 on Monday. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.04 and a current ratio of 1.04. The company has a 50 day moving average price of $283.34 and a 200-day moving average price of $261.39. Arthur J. Gallagher & Co. has a fifty-two week low of $218.63 and a fifty-two week high of $300.66. The stock has a market capitalization of $64.98 billion, a PE ratio of 60.20, a PEG ratio of 2.47 and a beta of 0.72.

Arthur J. Gallagher & Co. (NYSE:AJG) last announced its earnings results on Thursday, July 25th. The financial services provider reported $2.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.24 by $0.02. Arthur J. Gallagher & Co. had a return on equity of 19.25% and a net margin of 10.41%. The business had revenue of $2.73 billion for the quarter, compared to analysts’ expectations of $2.77 billion. During the same quarter last year, the firm earned $1.90 EPS. The business’s revenue for the quarter was up 14.3% on a year-over-year basis. Equities analysts predict that Arthur J. Gallagher & Co. will post 10.16 earnings per share for the current fiscal year.

Arthur J. Gallagher & Co. Dividend Announcement

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

Insiders Place Their Bets

In other news, General Counsel Walter D. Bay sold 8,303 shares of Arthur J. Gallagher & Co. stock in a transaction that occurred on Tuesday, June 18th. The shares were sold at an average price of $262.74, for a total value of $2,181,530.22. Following the transaction, the general counsel now owns 36,388 shares of the company’s stock, valued at approximately $9,560,583.12. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Arthur J. Gallagher & Co. news, President Michael Robert Pesch sold 7,100 shares of the stock in a transaction dated 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 completion of the sale, the president now directly owns 33,267 shares in the company, valued at $9,853,685.40. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, General Counsel Walter D. Bay sold 8,303 shares of the firm’s stock in a transaction dated Tuesday, June 18th. The stock was sold at an average price of $262.74, for a total value of $2,181,530.22. Following the completion of the sale, the general counsel now directly owns 36,388 shares of the company’s stock, valued at approximately $9,560,583.12. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 55,448 shares of company stock worth $15,445,930. 1.60% of the stock is owned by corporate insiders.

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.