Concurrent Investment Advisors LLC lifted its position in shares of Arthur J. Gallagher & Co. (NYSE:AJG - Free Report) by 128.9% in the second quarter, according to its most recent 13F filing with the SEC. The firm owned 24,267 shares of the financial services provider's stock after purchasing an additional 13,666 shares during the quarter. Concurrent Investment Advisors LLC's holdings in Arthur J. Gallagher & Co. were worth $5,571,000 as of its most recent filing with the SEC.
A number of other institutional investors and hedge funds have also recently bought and sold shares of AJG. Dearborn Partners LLC boosted its position in Arthur J. Gallagher & Co. by 6.3% during the 4th quarter. Dearborn Partners LLC now owns 133,936 shares of the financial services provider's stock worth $34,661,000 after purchasing an additional 7,946 shares during the period. Gtcr LLC purchased a new position in Arthur J. Gallagher & Co. in the first quarter valued at about $514,112,000. SBI Okasan Asset Management Co.Ltd. acquired a new position in shares of Arthur J. Gallagher & Co. during the fourth quarter worth about $1,371,000. Evelyn Partners Investment Management Services Ltd acquired a new stake in shares of Arthur J. Gallagher & Co. in the first quarter valued at about $5,848,000. Finally, Van Hulzen Asset Management LLC raised its holdings in shares of Arthur J. Gallagher & Co. by 7.9% during 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.
Arthur J. Gallagher & Co. Stock Down 0.2%
Shares of NYSE:AJG opened at $262.24 on Monday. The company's fifty day moving average is $254.17 and its two-hundred day moving average is $227.80. 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. The stock has a market capitalization of $67.21 billion, a price-to-earnings ratio of 43.49, a price-to-earnings-growth ratio of 1.59 and a beta of 0.50.
Arthur J. Gallagher & Co. (NYSE:AJG - Get Free Report) last posted its quarterly earnings results on Thursday, July 30th. The financial services provider reported $2.84 EPS for the quarter, beating the consensus estimate of $2.81 by $0.03. The business had revenue of $3.95 billion during 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 quarterly revenue was up 24.3% on a year-over-year basis. During the same period in the previous year, the business posted $2.33 EPS. Equities analysts anticipate that Arthur J. Gallagher & Co. will post 13.28 EPS for the current year.
Arthur J. Gallagher & Co. Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Friday, September 18th. Stockholders 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 annualized dividend and a dividend yield of 1.1%. Arthur J. Gallagher & Co.'s dividend payout ratio is 46.43%.
Insider Activity
In related news, VP Scott R. Hudson sold 12,000 shares of the company's stock in a transaction on Wednesday, September 2nd. The stock was sold at an average price of $264.13, for a total transaction of $3,169,560.00. Following the completion of the transaction, the vice president directly owned 90,262 shares in the company, valued at $23,840,902.06. This represents a 11.73% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Christopher E. Mead sold 3,500 shares of the stock in a transaction 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 completion of the sale, the vice president directly owned 22,223 shares in the company, valued at $5,711,755.46. This represents a 13.61% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 27,500 shares of company stock valued at $7,310,090. 1.40% of the stock is currently owned by insiders.
Analysts Set New Price Targets
AJG has been the topic of several recent research reports. Citigroup boosted their price target on Arthur J. Gallagher & Co. from $250.00 to $285.00 and gave the stock a "buy" rating in a research report on Tuesday, August 4th. Royal Bank Of Canada lifted their price objective on shares of Arthur J. Gallagher & Co. from $300.00 to $310.00 and gave the company an "outperform" rating in a research note on Friday, July 31st. Jefferies Financial Group raised shares of Arthur J. Gallagher & Co. from a "hold" rating to a "buy" rating and boosted their target price for the stock from $235.00 to $265.00 in a research report on Thursday, June 11th. Argus raised their price target on shares of Arthur J. Gallagher & Co. from $267.00 to $300.00 and gave the company a "buy" rating in a report on Monday, August 17th. Finally, Piper Sandler lifted their price target on shares of Arthur J. Gallagher & Co. from $276.00 to $287.00 and gave the stock an "overweight" rating in a research note on Friday, July 31st. Fourteen analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $290.28.
Read Our Latest Report on AJG
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.
See Also
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