New York Life Investment Management LLC Purchases 9,161 Shares of Arthur J. Gallagher & Co. $AJG

New York Life Investment Management LLC raised its position in Arthur J. Gallagher & Co. (NYSE:AJG) by 24.7% in the third quarter, Holdings Channel reports. The institutional investor owned 46,214 shares of the financial services provider’s stock after purchasing an additional 9,161 shares during the period. New York Life Investment Management LLC’s holdings in Arthur J. Gallagher & Co. were worth $11,338,000 as of its most recent filing with the SEC.

A number of other large investors have also modified their holdings of the company. Triumph Capital Management boosted its stake in shares of Arthur J. Gallagher & Co. by 4,000.0% during the 3rd quarter. Triumph Capital Management now owns 123 shares of the financial services provider’s stock worth $28,000 after acquiring an additional 120 shares in the last quarter. NFSG Corp grew its position in shares of Arthur J. Gallagher & Co. by 4,033.3% during the 3rd quarter. NFSG Corp now owns 124 shares of the financial services provider’s stock valued at $28,000 after acquiring an additional 121 shares during the period. Axiom Investment Management LLC purchased a new position in shares of Arthur J. Gallagher & Co. in the 1st quarter valued at about $28,000. Cassaday & Co Wealth Management LLC purchased a new position in shares of Arthur J. Gallagher & Co. in the 1st quarter valued at about $29,000. Finally, Physician Wealth Advisors Inc. increased its stake in shares of Arthur J. Gallagher & Co. by 57.4% in the 3rd quarter. Physician Wealth Advisors Inc. now owns 148 shares of the financial services provider’s stock valued at $34,000 after purchasing an additional 54 shares in the last quarter. Institutional investors and hedge funds own 85.53% of the company’s stock.

Arthur J. Gallagher & Co. Stock Down 0.3%

Shares of NYSE AJG opened at $281.88 on Thursday. The company’s 50-day simple moving average is $251.11 and its 200-day simple moving average is $233.65. Arthur J. Gallagher & Co. has a 52-week low of $190.75 and a 52-week high of $294.53. The firm has a market cap of $72.28 billion, a price-to-earnings ratio of 43.10, a price-to-earnings-growth ratio of 1.62 and a beta of 0.47. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.49.

Arthur J. Gallagher & Co. (NYSE:AJG) last released its earnings results on Thursday, October 29th. The financial services provider reported $3.00 EPS for the quarter, topping analysts’ consensus estimates of $2.99 by $0.01. Arthur J. Gallagher & Co. had a net margin of 10.39% and a return on equity of 13.90%. The business had revenue of $3.92 billion during the quarter, compared to analysts’ expectations of $3.98 billion. During the same quarter in the previous year, the company earned $2.32 earnings per share. The company’s quarterly revenue was up 19.6% on a year-over-year basis. Equities analysts predict that Arthur J. Gallagher & Co. will post 13.13 EPS for the current fiscal year.

Arthur J. Gallagher & Co. Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 18th. Investors of record on Monday, December 7th will be issued a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 1.0%. The ex-dividend date is Monday, December 7th. Arthur J. Gallagher & Co.’s payout ratio is presently 42.81%.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on AJG shares. Evercore increased their price target on Arthur J. Gallagher & Co. from $295.00 to $307.00 and gave the stock an “outperform” rating in a research report on Thursday, October 8th. Mizuho raised their price objective on Arthur J. Gallagher & Co. from $271.00 to $302.00 and gave the company an “outperform” rating in a report on Friday, October 30th. Weiss Ratings upgraded Arthur J. Gallagher & Co. from a “hold (c)” rating to a “hold (c+)” rating in a research report on Monday. Jefferies Financial Group upped their target price on Arthur J. Gallagher & Co. from $295.00 to $319.00 and gave the stock a “buy” rating in a research note on Tuesday, November 3rd. Finally, UBS Group upped their target price on Arthur J. Gallagher & Co. from $299.00 to $320.00 and gave the stock a “buy” rating in a research note on Monday, November 2nd. Thirteen equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $292.05.

Insider Buying and Selling

In other Arthur J. Gallagher & Co. news, insider Susan E. Pietrucha sold 15,020 shares of the stock in a transaction that occurred on Monday, November 9th. The stock was sold at an average price of $282.30, for a total transaction of $4,240,146.00. Following the completion of the transaction, the insider owned 16,791 shares of the company’s stock, valued at $4,740,099.30. This represents a 47.22% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP William F. Ziebell sold 23,510 shares of the firm’s stock in a transaction that occurred on Wednesday, November 4th. The shares were sold at an average price of $286.62, for a total value of $6,738,436.20. Following the completion of the transaction, the vice president owned 48,942 shares in the company, valued at approximately $14,027,756.04. This trade represents a 32.45% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 105,616 shares of company stock worth $29,193,156 in the last quarter. 1.40% of the stock is owned by insiders.

Arthur J. Gallagher & Co. Profile

Arthur J. Gallagher & Co. is a global insurance brokerage and risk management services firm. It helps businesses and other organizations assess and manage risk, arrange insurance coverage, and address employee benefits needs. The company’s services include insurance brokerage, risk management consulting, employee benefits consulting, and claims and settlement services through its Gallagher Bassett business. It serves clients in the United States and internationally, including through a network of correspondent brokers.