DoubleLine ETF Adviser LP Has $956,000 Stock Position in Arthur J. Gallagher & Co. (NYSE:AJG)

DoubleLine ETF Adviser LP lessened its stake in Arthur J. Gallagher & Co. (NYSE:AJG) by 2.9% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,687 shares of the financial services provider’s stock after selling 111 shares during the quarter. DoubleLine ETF Adviser LP’s holdings in Arthur J. Gallagher & Co. were worth $956,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in AJG. Norden Group LLC acquired a new stake in shares of Arthur J. Gallagher & Co. in the 1st quarter valued at about $3,841,000. Brookstone Capital Management boosted its position in Arthur J. Gallagher & Co. by 70.4% during the 1st quarter. Brookstone Capital Management now owns 12,851 shares of the financial services provider’s stock worth $3,213,000 after acquiring an additional 5,308 shares during the last quarter. Sei Investments Co. grew its stake in shares of Arthur J. Gallagher & Co. by 11.7% during the 1st quarter. Sei Investments Co. now owns 194,568 shares of the financial services provider’s stock worth $48,649,000 after acquiring an additional 20,302 shares in the last quarter. Nomura Holdings Inc. bought a new stake in shares of Arthur J. Gallagher & Co. in the fourth quarter worth $979,000. Finally, Swedbank AB acquired a new position in Arthur J. Gallagher & Co. during the first quarter worth $3,297,000. 85.53% of the stock is currently owned by institutional investors and hedge funds.

Arthur J. Gallagher & Co. Stock Up 0.5 %

AJG opened at $280.72 on Thursday. 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 stock has a fifty day moving average of $285.95 and a 200-day moving average of $263.36. Arthur J. Gallagher & Co. has a fifty-two week low of $218.63 and a fifty-two week high of $301.04. The company has a market capitalization of $61.34 billion, a P/E ratio of 56.83, a P/E/G ratio of 2.37 and a beta of 0.72.

Arthur J. Gallagher & Co. (NYSE:AJG) last posted its quarterly earnings data on Thursday, July 25th. The financial services provider reported $2.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.24 by $0.02. Arthur J. Gallagher & Co. had a net margin of 10.41% and a return on equity of 19.25%. The firm had revenue of $2.73 billion during the quarter, compared to the consensus estimate of $2.77 billion. During the same quarter in the previous year, the firm posted $1.90 EPS. The business’s revenue for the quarter was up 14.3% compared to the same quarter last year. On average, equities analysts expect that Arthur J. Gallagher & Co. will post 10.14 EPS for the current year.

Arthur J. Gallagher & Co. Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 20th. Shareholders of record on Friday, September 6th were issued a $0.60 dividend. The ex-dividend date was Friday, September 6th. This represents a $2.40 annualized dividend and a yield of 0.85%. Arthur J. Gallagher & Co.’s dividend payout ratio is presently 48.58%.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on AJG. Bank Of America (Bofa) increased their price objective on shares of Arthur J. Gallagher & Co. from $255.00 to $265.00 and gave the stock an “underperform” rating in a research note on Friday, July 26th. Wells Fargo & Company upped their target price on Arthur J. Gallagher & Co. from $301.00 to $309.00 and gave the stock an “overweight” rating in a report on Friday, September 20th. Truist Financial boosted their price target on Arthur J. Gallagher & Co. from $265.00 to $275.00 and gave the stock a “hold” rating in a research report on Friday, September 20th. Jefferies Financial Group upped their price objective on Arthur J. Gallagher & Co. from $264.00 to $267.00 in a research note on Friday, July 26th. Finally, Barclays started coverage on shares of Arthur J. Gallagher & Co. in a research note on Wednesday, September 4th. They issued an “equal weight” rating and a $300.00 target price for the company. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $282.93.

Insider Activity

In related news, CFO Douglas K. Howell sold 7,000 shares of the business’s stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $284.68, for a total value of $1,992,760.00. Following the completion of the transaction, the chief financial officer now owns 75,963 shares of the company’s stock, valued at $21,625,146.84. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, CFO Douglas K. Howell sold 7,000 shares of the 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 sale, the chief financial officer now owns 75,963 shares in the company, valued at approximately $21,625,146.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, President Thomas Joseph Gallagher sold 15,000 shares of the business’s stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $282.96, for a total transaction of $4,244,400.00. Following the transaction, the president now owns 329,099 shares of the company’s stock, valued at $93,121,853.04. The disclosure for this sale can be found here. In the last three months, insiders sold 44,145 shares of company stock worth $12,622,660. 1.60% of the stock is currently owned by company insiders.

Arthur J. Gallagher & Co. Company 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.