NEOS Investment Management LLC Has $7.94 Million Stock Holdings in Arthur J. Gallagher & Co. $AJG

NEOS Investment Management LLC raised its holdings in Arthur J. Gallagher & Co. (NYSE:AJG) by 50.3% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 25,645 shares of the financial services provider’s stock after buying an additional 8,580 shares during the quarter. NEOS Investment Management LLC’s holdings in Arthur J. Gallagher & Co. were worth $7,943,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the business. Caprock Group LLC bought a new stake in Arthur J. Gallagher & Co. during the 3rd quarter worth approximately $9,877,000. JPMorgan Chase & Co. boosted its stake in Arthur J. Gallagher & Co. by 19.6% in the third quarter. JPMorgan Chase & Co. now owns 20,338,533 shares of the financial services provider’s stock worth $6,299,674,000 after purchasing an additional 3,330,205 shares in the last quarter. Factory Mutual Insurance Co. grew its holdings in shares of Arthur J. Gallagher & Co. by 107.1% during the second quarter. Factory Mutual Insurance Co. now owns 14,500 shares of the financial services provider’s stock worth $4,642,000 after purchasing an additional 7,500 shares during the last quarter. Fairfield Financial Advisors LTD increased its stake in shares of Arthur J. Gallagher & Co. by 21.4% in the second quarter. Fairfield Financial Advisors LTD now owns 9,961 shares of the financial services provider’s stock valued at $3,189,000 after buying an additional 1,758 shares in the last quarter. Finally, Petra Financial Advisors Inc. bought a new position in shares of Arthur J. Gallagher & Co. in the second quarter valued at about $812,000. 85.53% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, VP Christopher E. Mead sold 4,000 shares of Arthur J. Gallagher & Co. stock in a transaction that occurred on Tuesday, December 23rd. The shares were sold at an average price of $258.11, for a total transaction of $1,032,440.00. Following the transaction, the vice president owned 17,327 shares of the company’s stock, valued at $4,472,271.97. This trade represents a 18.76% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, General Counsel Walter D. Bay sold 15,850 shares of the company’s stock in a transaction that occurred on Friday, December 19th. The shares were sold at an average price of $255.00, for a total transaction of $4,041,750.00. Following the completion of the sale, the general counsel directly owned 79,549 shares of the company’s stock, valued at $20,284,995. The trade was a 16.61% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 26,100 shares of company stock valued at $6,677,865 in the last 90 days. 1.60% of the stock is owned by insiders.

Arthur J. Gallagher & Co. Stock Performance

Shares of Arthur J. Gallagher & Co. stock opened at $214.58 on Thursday. The firm has a fifty day moving average of $247.75 and a two-hundred day moving average of $269.15. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.06 and a current ratio of 1.06. The stock has a market capitalization of $55.10 billion, a price-to-earnings ratio of 34.89, a PEG ratio of 1.16 and a beta of 0.66. Arthur J. Gallagher & Co. has a 52 week low of $195.00 and a 52 week high of $351.23.

Arthur J. Gallagher & Co. (NYSE:AJG) last announced its quarterly earnings data on Thursday, January 29th. The financial services provider reported $2.38 EPS for the quarter, topping analysts’ consensus estimates of $2.35 by $0.03. Arthur J. Gallagher & Co. had a return on equity of 12.13% and a net margin of 11.84%.The business had revenue of $3.57 billion during the quarter, compared to analysts’ expectations of $3.61 billion. During the same period in the previous year, the firm earned $1.12 earnings per share. The firm’s quarterly revenue was up 33.9% compared to the same quarter last year. As a group, equities research analysts predict that Arthur J. Gallagher & Co. will post 11.54 EPS for the current year.

Arthur J. Gallagher & Co. Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 20th. Investors of record on Friday, March 6th will be given a $0.70 dividend. The ex-dividend date is Friday, March 6th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 1.3%. This is a positive change from Arthur J. Gallagher & Co.’s previous quarterly dividend of $0.65. Arthur J. Gallagher & Co.’s dividend payout ratio is 42.28%.

Analyst Ratings Changes

Several equities research analysts have weighed in on the stock. TD Cowen restated a “buy” rating on shares of Arthur J. Gallagher & Co. in a research report on Friday, October 31st. Needham & Company LLC set a $272.00 price target on shares of Arthur J. Gallagher & Co. in a report on Thursday, December 18th. Cantor Fitzgerald reaffirmed a “neutral” rating on shares of Arthur J. Gallagher & Co. in a report on Friday, January 30th. Wolfe Research set a $289.00 target price on Arthur J. Gallagher & Co. and gave the company an “outperform” rating in a research note on Wednesday, December 17th. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Arthur J. Gallagher & Co. in a research note on Monday, December 29th. Six research analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $284.12.

About Arthur J. Gallagher & Co.

Arthur J. Gallagher & Co is a global insurance brokerage and risk management firm headquartered in Rolling Meadows, Illinois. Founded in 1927 by Arthur J. Gallagher, the company has grown from a regional broker into an international professional services organization that arranges insurance, provides consulting and designs risk-transfer solutions for commercial, industrial, public sector and individual clients.

The company’s core activities include property and casualty insurance brokerage, employee benefits consulting and administration, and a range of risk management services.