Belpointe Asset Management LLC Invests $602,000 in Arthur J. Gallagher & Co. $AJG

Belpointe Asset Management LLC purchased a new position in shares of Arthur J. Gallagher & Co. (NYSE:AJG) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 1,744 shares of the financial services provider’s stock, valued at approximately $602,000.

Other large investors have also modified their holdings of the company. JPMorgan Chase & Co. grew its position in Arthur J. Gallagher & Co. by 38.3% in the first quarter. JPMorgan Chase & Co. now owns 17,372,745 shares of the financial services provider’s stock valued at $5,997,767,000 after acquiring an additional 4,815,007 shares during the period. Vanguard Group Inc. grew its holdings in shares of Arthur J. Gallagher & Co. by 2.5% during the first quarter. Vanguard Group Inc. now owns 30,411,264 shares of the financial services provider’s stock worth $10,499,185,000 after purchasing an additional 739,130 shares during the last quarter. Nuveen LLC bought a new position in Arthur J. Gallagher & Co. in the first quarter valued at about $240,665,000. 1832 Asset Management L.P. boosted its holdings in Arthur J. Gallagher & Co. by 3,142.2% in the first quarter. 1832 Asset Management L.P. now owns 640,911 shares of the financial services provider’s stock valued at $221,268,000 after acquiring an additional 621,143 shares during the last quarter. Finally, Woodline Partners LP boosted its holdings in Arthur J. Gallagher & Co. by 430.3% in the fourth quarter. Woodline Partners LP now owns 563,770 shares of the financial services provider’s stock valued at $160,026,000 after acquiring an additional 457,464 shares during the last quarter. 85.53% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

AJG has been the topic of a number of research analyst reports. Wall Street Zen raised Arthur J. Gallagher & Co. from a “sell” rating to a “hold” rating in a research report on Friday, September 5th. Cantor Fitzgerald upgraded Arthur J. Gallagher & Co. to a “strong-buy” rating in a research note on Wednesday, August 13th. Citigroup assumed coverage on Arthur J. Gallagher & Co. in a research note on Wednesday, August 13th. They set a “neutral” rating and a $317.00 target price for the company. UBS Group reduced their target price on Arthur J. Gallagher & Co. from $345.00 to $322.00 and set a “neutral” rating for the company in a research note on Monday, August 4th. Finally, Erste Group Bank reissued a “hold” rating on shares of Arthur J. Gallagher & Co. in a report on Wednesday, July 23rd. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, eight have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Arthur J. Gallagher & Co. currently has an average rating of “Hold” and an average price target of $333.13.

Arthur J. Gallagher & Co. Price Performance

Shares of AJG opened at $297.27 on Friday. Arthur J. Gallagher & Co. has a 12-month low of $274.25 and a 12-month high of $351.23. The business has a 50-day simple moving average of $300.81 and a two-hundred day simple moving average of $319.70. The company has a quick ratio of 1.36, a current ratio of 1.36 and a debt-to-equity ratio of 0.52. The stock has a market cap of $76.22 billion, a PE ratio of 42.23 and a beta of 0.72.

Arthur J. Gallagher & Co. (NYSE:AJG) last issued its earnings results on Thursday, July 31st. The financial services provider reported $2.33 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.36 by ($0.03). Arthur J. Gallagher & Co. had a return on equity of 13.17% and a net margin of 14.54%.The firm had revenue of $3.18 billion during the quarter, compared to analyst estimates of $3.20 billion. During the same period in the previous year, the company earned $2.29 EPS. Arthur J. Gallagher & Co.’s revenue for the quarter was up 16.0% on a year-over-year basis. Analysts anticipate that Arthur J. Gallagher & Co. will post 11.54 earnings per share for the current fiscal year.

Arthur J. Gallagher & Co. Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 19th. Shareholders of record on Friday, September 5th will be given a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date is Friday, September 5th. Arthur J. Gallagher & Co.’s payout ratio is 36.93%.

Insider Transactions at Arthur J. Gallagher & Co.

In other Arthur J. Gallagher & Co. news, CFO Douglas K. Howell sold 3,000 shares of the company’s stock in a transaction dated Tuesday, September 9th. The stock was sold at an average price of $299.78, for a total value of $899,340.00. Following the sale, the chief financial officer owned 114,777 shares in the company, valued at approximately $34,407,849.06. The trade was a 2.55% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, VP Scott R. Hudson sold 12,855 shares of the company’s stock in a transaction dated Monday, September 8th. The shares were sold at an average price of $297.60, for a total value of $3,825,648.00. Following the sale, the vice president owned 85,920 shares in the company, valued at approximately $25,569,792. The trade was a 13.01% decrease in their position. The disclosure for this sale can be found here. Insiders own 1.60% of the company’s stock.

Arthur J. Gallagher & Co. Profile

Arthur J. Gallagher & Co engages in the provision of insurance brokerage, reinsurance brokerage, consulting, and third-party claims settlement and administration services. It operates through the following segments: Brokerage, Risk Management, and Corporate. The Brokerage segment consists of retail and wholesale insurance brokerage operations.