AIA Group Ltd Acquires 2,362 Shares of Arthur J. Gallagher & Co. (NYSE:AJG)

Key Points

• AIA Group Ltd increased its stake in Arthur J. Gallagher & Co. by 12.0%, acquiring an additional 2,362 shares and bringing its total holdings to 22,081 shares valued at approximately $7.62 million.
• In recent insider transactions, Director David S. Johnson and VP Scott R. Hudson sold shares, decreasing their holdings by 2.16% and 10.33%, respectively, with Johnson still owning 45,323 shares valued at around $15.50 million.
• Arthur J. Gallagher & Co. plans to pay a quarterly dividend of $0.65 on September 19, representing an annualized dividend yield of 0.9% and a payout ratio of 36.93%.

AIA Group Ltd grew its holdings in shares of Arthur J. Gallagher & Co. (NYSE:AJG - Free Report) by 12.0% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 22,081 shares of the financial services provider's stock after buying an additional 2,362 shares during the period. AIA Group Ltd's holdings in Arthur J. Gallagher & Co. were worth $7,623,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the stock. Independent Advisor Alliance raised its position in shares of Arthur J. Gallagher & Co. by 3.0% in the 1st quarter. Independent Advisor Alliance now owns 4,176 shares of the financial services provider's stock worth $1,442,000 after purchasing an additional 122 shares during the last quarter. SouthState Corp purchased a new position in shares of Arthur J. Gallagher & Co. in the 1st quarter worth about $39,000. Nuveen LLC purchased a new position in shares of Arthur J. Gallagher & Co. in the 1st quarter worth about $240,665,000. Fiduciary Family Office LLC purchased a new position in shares of Arthur J. Gallagher & Co. in the 1st quarter worth about $334,000. Finally, Benjamin Edwards Inc. raised its position in shares of Arthur J. Gallagher & Co. by 18.7% in the 1st quarter. Benjamin Edwards Inc. now owns 121,462 shares of the financial services provider's stock worth $41,934,000 after purchasing an additional 19,159 shares during the last quarter. Hedge funds and other institutional investors own 85.53% of the company's stock.

Insider Activity at Arthur J. Gallagher & Co.

In related news, VP Scott R. Hudson sold 10,500 shares of the business's stock in a transaction that occurred on Wednesday, May 21st. The stock was sold at an average price of $337.17, for a total transaction of $3,540,285.00. Following the completion of the transaction, the vice president directly owned 91,175 shares in the company, valued at approximately $30,741,474.75. The trade was a 10.33% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director David S. Johnson sold 1,000 shares of the business's stock in a transaction that occurred on Friday, May 16th. The shares were sold at an average price of $342.04, for a total value of $342,040.00. Following the transaction, the director owned 45,323 shares of the company's stock, valued at approximately $15,502,278.92. This trade represents a 2.16% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 25,000 shares of company stock worth $8,528,080. 1.60% of the stock is owned by company insiders.

Arthur J. Gallagher & Co. Stock Performance

Shares of NYSE AJG traded down $1.69 during midday trading on Thursday, hitting $293.41. 1,280,144 shares of the company's stock traded hands, compared to its average volume of 1,552,611. Arthur J. Gallagher & Co. has a 1 year low of $274.25 and a 1 year high of $351.23. The stock has a market capitalization of $75.23 billion, a price-to-earnings ratio of 41.68 and a beta of 0.68. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.36 and a current ratio of 1.36. The firm has a fifty day moving average of $309.43 and a 200 day moving average of $322.41.

Arthur J. Gallagher & Co. (NYSE:AJG - Get Free Report) last announced its quarterly earnings data 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). The company had revenue of $3.18 billion for the quarter, compared to the consensus estimate of $3.20 billion. Arthur J. Gallagher & Co. had a net margin of 14.54% and a return on equity of 13.17%. The company's revenue was up 16.0% compared to the same quarter last year. During the same quarter last year, the firm posted $2.29 earnings per share. On average, analysts forecast that Arthur J. Gallagher & Co. will post 11.54 earnings per share for the current year.

Arthur J. Gallagher & Co. Dividend Announcement

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

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. Citigroup assumed coverage on Arthur J. Gallagher & Co. in a research report on Wednesday. They issued a "neutral" rating and a $317.00 price target for the company. Erste Group Bank reissued a "hold" rating on shares of Arthur J. Gallagher & Co. in a research report on Wednesday, July 23rd. Cantor Fitzgerald raised Arthur J. Gallagher & Co. to a "strong-buy" rating in a research report on Wednesday. Barclays decreased their target price on Arthur J. Gallagher & Co. from $346.00 to $327.00 and set an "equal weight" rating for the company in a research report on Monday, July 7th. Finally, Wall Street Zen lowered Arthur J. Gallagher & Co. from a "hold" rating to a "sell" rating in a research report on Saturday, August 9th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $331.07.

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.