Alley Investment Management Company LLC cut its stake in Arthur J. Gallagher & Co. (NYSE:AJG - Free Report) by 55.6% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,809 shares of the financial services provider's stock after selling 12,286 shares during the period. Alley Investment Management Company LLC's holdings in Arthur J. Gallagher & Co. were worth $2,252,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds have also bought and sold shares of AJG. Dearborn Partners LLC increased its holdings in Arthur J. Gallagher & Co. by 6.3% in the 4th quarter. Dearborn Partners LLC now owns 133,936 shares of the financial services provider's stock worth $34,661,000 after buying an additional 7,946 shares during the period. Gtcr LLC purchased a new position in shares of Arthur J. Gallagher & Co. during the first quarter worth $514,112,000. SBI Okasan Asset Management Co.Ltd. acquired a new position in Arthur J. Gallagher & Co. during the fourth quarter valued at $1,371,000. Evelyn Partners Investment Management Services Ltd acquired a new stake in Arthur J. Gallagher & Co. during the 1st quarter worth about $5,848,000. Finally, Van Hulzen Asset Management LLC lifted its holdings in shares of Arthur J. Gallagher & Co. by 7.9% in the 4th quarter. Van Hulzen Asset Management LLC now owns 95,470 shares of the financial services provider's stock valued at $24,707,000 after buying an additional 7,025 shares during the period. Institutional investors and hedge funds own 85.53% of the company's stock.
Wall Street Analyst Weigh In
Several research analysts recently weighed in on the company. Truist Financial lifted their price target on Arthur J. Gallagher & Co. from $225.00 to $265.00 and gave the company a "hold" rating in a research report on Friday, July 31st. Barclays raised their price objective on shares of Arthur J. Gallagher & Co. from $275.00 to $292.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 7th. Wolfe Research cut shares of Arthur J. Gallagher & Co. from an "outperform" rating to a "peer perform" rating in a research note on Thursday, July 9th. Morgan Stanley increased their price target on shares of Arthur J. Gallagher & Co. from $270.00 to $290.00 and gave the stock an "overweight" rating in a report on Wednesday, August 19th. Finally, Weiss Ratings raised shares of Arthur J. Gallagher & Co. from a "hold (c-)" rating to a "hold (c)" rating in a report on Monday, July 13th. Fourteen analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat.com, Arthur J. Gallagher & Co. presently has an average rating of "Moderate Buy" and an average price target of $290.28.
View Our Latest Stock Report on Arthur J. Gallagher & Co.
Arthur J. Gallagher & Co. Price Performance
Arthur J. Gallagher & Co. stock opened at $266.50 on Friday. The stock has a market capitalization of $68.30 billion, a P/E ratio of 44.20, a P/E/G ratio of 1.60 and a beta of 0.50. The company's fifty day moving average price is $253.45 and its 200 day moving average price is $227.42. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.05 and a current ratio of 1.05. Arthur J. Gallagher & Co. has a 1 year low of $190.75 and a 1 year high of $313.55.
Arthur J. Gallagher & Co. (NYSE:AJG - Get Free Report) last announced its earnings results on Thursday, July 30th. The financial services provider reported $2.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.81 by $0.03. The business had revenue of $3.95 billion for the quarter, compared to analyst estimates of $4.01 billion. Arthur J. Gallagher & Co. had a net margin of 9.96% and a return on equity of 13.28%. The company's revenue for the quarter was up 24.3% compared to the same quarter last year. During the same quarter last year, the business earned $2.33 earnings per share. As a group, equities research analysts anticipate that Arthur J. Gallagher & Co. will post 13.28 earnings per share for the current fiscal year.
Arthur J. Gallagher & Co. Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Friday, September 18th. Shareholders of record on Tuesday, September 8th will be issued a dividend of $0.70 per share. The ex-dividend date of this dividend is Tuesday, September 8th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 1.1%. Arthur J. Gallagher & Co.'s dividend payout ratio is presently 46.43%.
Insider Activity at Arthur J. Gallagher & Co.
In other news, General Counsel Walter Bay sold 12,000 shares of the firm's stock in a transaction that occurred on Monday, August 24th. The stock was sold at an average price of $270.08, for a total value of $3,240,960.00. Following the transaction, the general counsel owned 71,292 shares in the company, valued at $19,254,543.36. This trade represents a 14.41% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Christopher Mead sold 3,500 shares of the business's stock in a transaction that occurred on Wednesday, August 19th. The stock was sold at an average price of $257.02, for a total value of $899,570.00. Following the sale, the vice president owned 22,223 shares of the company's stock, valued at $5,711,755.46. The trade was a 13.61% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 1.40% of the company's stock.
About Arthur J. Gallagher & Co.
(
Free Report)
Arthur J. Gallagher & Co is a global insurance brokerage and risk management firm headquartered in Rolling Meadows, Illinois. Founded in 1927 by Arthur J. Gallagher, the company has grown from a regional broker into an international professional services organization that arranges insurance, provides consulting and designs risk-transfer solutions for commercial, industrial, public sector and individual clients.
The company's core activities include property and casualty insurance brokerage, employee benefits consulting and administration, and a range of risk management services.
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