Alberta Investment Management Corp Makes New Investment in Arthur J. Gallagher & Co. (NYSE:AJG)

Key Points

• Alberta Investment Management Corp has acquired over 10,000 shares of Arthur J. Gallagher & Co. worth approximately $3.47 million, highlighting increased investment interest in the company.
• The company's stock has shown significant trading activity, with several hedge funds adjusting their positions and institutional investors now owning 85.53% of the stock.
• Arthur J. Gallagher & Co. reported a quarterly earnings miss, posting $2.33 EPS against the consensus estimate of $2.36, but reported a year-over-year revenue increase of 16.0%.

Alberta Investment Management Corp bought a new position in shares of Arthur J. Gallagher & Co. (NYSE:AJG - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 10,043 shares of the financial services provider's stock, valued at approximately $3,467,000.

Several other hedge funds have also made changes to their positions in AJG. HWG Holdings LP acquired a new stake in shares of Arthur J. Gallagher & Co. during the first quarter worth about $25,000. Johnson Financial Group Inc. lifted its position in shares of Arthur J. Gallagher & Co. by 205.4% during the fourth quarter. Johnson Financial Group Inc. now owns 113 shares of the financial services provider's stock worth $34,000 after purchasing an additional 76 shares in the last quarter. Parvin Asset Management LLC acquired a new stake in shares of Arthur J. Gallagher & Co. during the fourth quarter worth about $35,000. Centennial Bank AR acquired a new stake in shares of Arthur J. Gallagher & Co. during the first quarter worth about $38,000. Finally, Golden State Wealth Management LLC lifted its position in shares of Arthur J. Gallagher & Co. by 2,750.0% during the first quarter. Golden State Wealth Management LLC now owns 114 shares of the financial services provider's stock worth $39,000 after purchasing an additional 110 shares in the last quarter. Institutional investors and hedge funds own 85.53% of the company's stock.

Arthur J. Gallagher & Co. Stock Performance

Shares of Arthur J. Gallagher & Co. stock opened at $284.06 on Friday. The firm has a market capitalization of $72.75 billion, a P/E ratio of 40.35 and a beta of 0.68. Arthur J. Gallagher & Co. has a 52 week low of $274.25 and a 52 week high of $351.23. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 0.56. The firm's 50 day moving average is $318.00 and its two-hundred day moving average is $322.86.

Arthur J. Gallagher & Co. (NYSE:AJG - Get Free Report) last announced its quarterly earnings results on Thursday, July 31st. The financial services provider reported $2.33 EPS for the quarter, missing the consensus estimate of $2.36 by ($0.03). The company had revenue of $3.18 billion during the quarter, compared to analysts' expectations of $3.20 billion. Arthur J. Gallagher & Co. had a net margin of 14.54% and a return on equity of 14.04%. The business's revenue for the quarter was up 16.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.29 earnings per share. Research analysts forecast that Arthur J. Gallagher & Co. will post 11.54 EPS for the current fiscal year.

Arthur J. Gallagher & Co. Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 19th. Stockholders of record on Friday, September 5th will be given 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 dividend payout ratio (DPR) is 36.93%.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the stock. Jefferies Financial Group reduced their price target on shares of Arthur J. Gallagher & Co. from $266.00 to $265.00 and set a "hold" rating on the stock in a research report on Friday, April 11th. Barclays cut their target price on shares of Arthur J. Gallagher & Co. from $346.00 to $327.00 and set an "equal weight" rating on the stock in a research note on Monday, July 7th. Wells Fargo & Company upped their target price on shares of Arthur J. Gallagher & Co. from $371.00 to $373.00 and gave the stock an "overweight" rating in a research note on Friday. Keefe, Bruyette & Woods upped their target price on shares of Arthur J. Gallagher & Co. from $326.00 to $330.00 and gave the stock a "market perform" rating in a research note on Wednesday, July 9th. Finally, Piper Sandler upped their target price on shares of Arthur J. Gallagher & Co. from $352.00 to $372.00 and gave the stock an "overweight" rating in a research note on Friday. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $329.75.

Insider Transactions at Arthur J. Gallagher & Co.

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

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