DRW Securities LLC Purchases 7,811 Shares of Arthur J. Gallagher & Co. (NYSE:AJG)

DRW Securities LLC grew its position in Arthur J. Gallagher & Co. (NYSE:AJG) by 308.1% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,346 shares of the financial services provider’s stock after acquiring an additional 7,811 shares during the period. DRW Securities LLC’s holdings in Arthur J. Gallagher & Co. were worth $2,911,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of AJG. Mark Sheptoff Financial Planning LLC bought a new position in Arthur J. Gallagher & Co. during the second quarter worth $26,000. Strategic Investment Solutions Inc. IL acquired a new position in Arthur J. Gallagher & Co. in the 2nd quarter valued at about $26,000. Creekmur Asset Management LLC acquired a new position in Arthur J. Gallagher & Co. in the 1st quarter valued at about $27,000. DiNuzzo Private Wealth Inc. raised its holdings in Arthur J. Gallagher & Co. by 89.7% in the 2nd quarter. DiNuzzo Private Wealth Inc. now owns 110 shares of the financial services provider’s stock valued at $29,000 after acquiring an additional 52 shares during the period. Finally, Quarry LP acquired a new position in shares of Arthur J. Gallagher & Co. in the second quarter valued at approximately $29,000. 85.53% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Arthur J. Gallagher & Co.

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 sale, the president now directly owns 33,267 shares of the company’s stock, valued at approximately $9,853,685.40. This trade represents a 17.59 % 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, VP Christopher E. Mead sold 2,800 shares of the company’s stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $287.00, for a total value of $803,600.00. Following the completion of the transaction, the vice president now directly owns 14,674 shares of the company’s stock, valued at $4,211,438. This represents a 16.02 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 23,900 shares of company stock worth $6,892,280 over the last quarter. Corporate insiders own 1.60% of the company’s stock.

Arthur J. Gallagher & Co. Trading Up 0.6 %

Shares of AJG opened at $304.29 on Monday. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.06 and a current ratio of 1.06. Arthur J. Gallagher & Co. has a 52-week low of $218.63 and a 52-week high of $308.00. The firm has a market cap of $66.76 billion, a price-to-earnings ratio of 57.96, a PEG ratio of 2.59 and a beta of 0.72. The business’s fifty day moving average is $288.55 and its 200-day moving average is $277.18.

Arthur J. Gallagher & Co. (NYSE:AJG) last issued its earnings results on Thursday, October 24th. The financial services provider reported $2.26 EPS for the quarter, hitting the consensus estimate of $2.26. The firm had revenue of $2.77 billion during the quarter, compared to the consensus estimate of $2.78 billion. Arthur J. Gallagher & Co. had a return on equity of 19.12% and a net margin of 10.40%. The business’s quarterly revenue was up 12.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.00 earnings per share. Equities analysts anticipate that Arthur J. Gallagher & Co. will post 10.12 EPS for the current fiscal year.

Arthur J. Gallagher & Co. Dividend Announcement

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

Analysts Set New Price Targets

Several research firms recently issued reports on AJG. Wells Fargo & Company boosted their price target on Arthur J. Gallagher & Co. from $309.00 to $315.00 and gave the company an “overweight” rating in a research note on Thursday, October 10th. Royal Bank of Canada lifted their target price on Arthur J. Gallagher & Co. from $310.00 to $320.00 and gave the stock an “outperform” rating in a report on Friday, September 20th. 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 research note on Tuesday, August 13th. Jefferies Financial Group increased their target price on shares of Arthur J. Gallagher & Co. from $269.00 to $274.00 and gave the stock a “hold” rating in a research report on Wednesday, October 9th. Finally, Bank of America lifted their price target on shares of Arthur J. Gallagher & Co. from $271.00 to $293.00 and gave the company an “underperform” rating in a research report on Thursday, October 10th. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $291.64.

About Arthur J. Gallagher & Co.

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.