Arthur J. Gallagher & Co. $AJG Shares Acquired by Smithbridge Asset Management Inc. DE

Key Points

• Smithbridge Asset Management more than doubled its position in Arthur J. Gallagher & Co. during the fourth quarter, increasing its stake by 102.5% to 65,094 shares valued at about $16.8 million.
• The company’s stock received mixed insider and institutional activity: CAO Richard C. Cary sold 3,000 shares, while hedge funds and other institutions continue to own 85.53% of the stock.
• Arthur J. Gallagher reported better-than-expected EPS of $4.47 for the latest quarter and announced a quarterly dividend of $0.70 per share; analysts currently rate the stock a Moderate Buy with an average target price of $264.59.

Smithbridge Asset Management Inc. DE increased its stake in shares of Arthur J. Gallagher & Co. (NYSE:AJG - Free Report) by 102.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 65,094 shares of the financial services provider's stock after purchasing an additional 32,950 shares during the quarter. Arthur J. Gallagher & Co. makes up approximately 1.4% of Smithbridge Asset Management Inc. DE's holdings, making the stock its 26th largest holding. Smithbridge Asset Management Inc. DE's holdings in Arthur J. Gallagher & Co. were worth $16,846,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in AJG. IFP Advisors Inc increased its stake in Arthur J. Gallagher & Co. by 1.4% in the third quarter. IFP Advisors Inc now owns 3,064 shares of the financial services provider's stock valued at $949,000 after purchasing an additional 41 shares during the last quarter. AMG National Trust Bank boosted its holdings in shares of Arthur J. Gallagher & Co. by 2.7% in the 3rd quarter. AMG National Trust Bank now owns 1,616 shares of the financial services provider's stock valued at $501,000 after purchasing an additional 42 shares during the last quarter. Journey Strategic Wealth LLC grew its stake in shares of Arthur J. Gallagher & Co. by 2.9% during the 3rd quarter. Journey Strategic Wealth LLC now owns 1,551 shares of the financial services provider's stock valued at $480,000 after buying an additional 43 shares during the period. KCM Investment Advisors LLC raised its holdings in shares of Arthur J. Gallagher & Co. by 4.1% in the 3rd quarter. KCM Investment Advisors LLC now owns 1,127 shares of the financial services provider's stock worth $349,000 after purchasing an additional 44 shares during the period. Finally, Ritholtz Wealth Management grew its holdings in shares of Arthur J. Gallagher & Co. by 0.4% during the 4th quarter. Ritholtz Wealth Management now owns 10,061 shares of the financial services provider's stock worth $2,604,000 after purchasing an additional 45 shares during the period. 85.53% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, CAO Richard C. Cary sold 3,000 shares of the company's stock in a transaction on Tuesday, June 2nd. The shares were sold at an average price of $206.00, for a total value of $618,000.00. Following the completion of the sale, the chief accounting officer directly owned 47,819 shares in the company, valued at approximately $9,850,714. This represents a 5.90% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 1.40% of the stock is currently owned by insiders.

Arthur J. Gallagher & Co. Stock Performance

Shares of NYSE AJG opened at $220.25 on Thursday. Arthur J. Gallagher & Co. has a 12-month low of $190.75 and a 12-month high of $327.34. The company has a market cap of $56.58 billion, a PE ratio of 35.64, a P/E/G ratio of 1.10 and a beta of 0.52. The stock has a 50 day simple moving average of $210.83 and a 200-day simple moving average of $228.34. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 0.51.

Arthur J. Gallagher & Co. (NYSE:AJG - Get Free Report) last released its earnings results on Thursday, April 30th. The financial services provider reported $4.47 EPS for the quarter, topping analysts' consensus estimates of $4.43 by $0.04. The business had revenue of $4.71 billion for the quarter, compared to the consensus estimate of $4.73 billion. Arthur J. Gallagher & Co. had a net margin of 10.76% and a return on equity of 12.83%. The business's revenue for the quarter was up 29.0% on a year-over-year basis. During the same period in the previous year, the firm earned $3.67 EPS. On average, equities research analysts forecast that Arthur J. Gallagher & Co. will post 13.27 EPS for the current year.

Arthur J. Gallagher & Co. Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 19th. Stockholders of record on Friday, June 5th will be issued a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a dividend yield of 1.3%. The ex-dividend date is Friday, June 5th. Arthur J. Gallagher & Co.'s payout ratio is currently 45.31%.

Analysts Set New Price Targets

A number of analysts have recently issued reports on AJG shares. Barclays lifted their price objective on shares of Arthur J. Gallagher & Co. from $262.00 to $275.00 and gave the company an "overweight" rating in a research note on Wednesday, April 8th. UBS Group upgraded shares of Arthur J. Gallagher & Co. from a "neutral" rating to a "buy" rating and cut their price objective for the stock from $283.00 to $250.00 in a report on Monday. Keefe, Bruyette & Woods lowered their target price on Arthur J. Gallagher & Co. from $246.00 to $235.00 and set a "market perform" rating for the company in a research note on Friday, May 1st. Truist Financial dropped their target price on Arthur J. Gallagher & Co. from $235.00 to $225.00 and set a "hold" rating on the stock in a research report on Friday, May 1st. Finally, Piper Sandler reduced their price target on Arthur J. Gallagher & Co. from $226.00 to $211.00 and set a "neutral" rating for the company in a report on Friday, May 1st. Thirteen equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company's stock. According to MarketBeat, Arthur J. Gallagher & Co. presently has a consensus rating of "Moderate Buy" and an average target price of $264.59.

Arthur J. Gallagher & Co. Profile

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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