Arthur J. Gallagher & Co. $AJG Shares Bought by Sigma Investment Counselors Inc.

Key Points

• Sigma Investment Counselors Inc. increased its holdings in Arthur J. Gallagher & Co. by 3.8% during the 2nd quarter, now owning nearly $10.56 million worth of shares.
• The company recently announced a quarterly dividend of $0.65 per share, which translates to an annualized dividend of $2.60, resulting in a 0.9% dividend yield.
• Arthur J. Gallagher & Co. reported Q2 earnings of $2.33 per share, falling short of analyst estimates, while revenue increased by 16% year-over-year.

Sigma Investment Counselors Inc. lifted its position in Arthur J. Gallagher & Co. (NYSE:AJG - Free Report) by 3.8% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 32,980 shares of the financial services provider's stock after acquiring an additional 1,217 shares during the quarter. Sigma Investment Counselors Inc.'s holdings in Arthur J. Gallagher & Co. were worth $10,557,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in AJG. CWA Asset Management Group LLC boosted its position in Arthur J. Gallagher & Co. by 22.5% during the 1st quarter. CWA Asset Management Group LLC now owns 1,125 shares of the financial services provider's stock valued at $388,000 after purchasing an additional 207 shares during the period. IFM Investors Pty Ltd boosted its position in Arthur J. Gallagher & Co. by 5.7% during the 1st quarter. IFM Investors Pty Ltd now owns 43,953 shares of the financial services provider's stock valued at $15,174,000 after purchasing an additional 2,362 shares during the period. Zurich Insurance Group Ltd FI acquired a new position in Arthur J. Gallagher & Co. during the 1st quarter valued at approximately $58,041,000. Golden State Wealth Management LLC boosted its position in Arthur J. Gallagher & Co. by 2,750.0% during the 1st quarter. Golden State Wealth Management LLC now owns 114 shares of the financial services provider's stock valued at $39,000 after purchasing an additional 110 shares during the period. Finally, Allspring Global Investments Holdings LLC boosted its position in Arthur J. Gallagher & Co. by 0.7% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 11,280 shares of the financial services provider's stock valued at $3,879,000 after purchasing an additional 82 shares during the period. Institutional investors and hedge funds own 85.53% of the company's stock.

Arthur J. Gallagher & Co. Stock Up 0.2%

AJG opened at $280.70 on Friday. Arthur J. Gallagher & Co. has a one year low of $275.56 and a one year high of $351.23. 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 stock's fifty day moving average is $299.55 and its 200-day moving average is $313.86. The company has a market capitalization of $71.97 billion, a PE ratio of 39.87 and a beta of 0.73.

Arthur J. Gallagher & Co. (NYSE:AJG - Get Free Report) last posted its quarterly earnings data on Thursday, July 31st. The financial services provider reported $2.33 EPS for the quarter, missing analysts' consensus estimates of $2.36 by ($0.03). Arthur J. Gallagher & Co. had a return on equity of 13.17% and a net margin of 14.54%.The firm had revenue of $3.18 billion during the quarter, compared to the consensus estimate of $3.20 billion. During the same period in the prior year, the firm posted $2.29 EPS. The firm's quarterly revenue was up 16.0% on a year-over-year basis. On average, equities analysts predict that Arthur J. Gallagher & Co. will post 11.54 EPS for the current fiscal year.

Arthur J. Gallagher & Co. Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 19th. Stockholders of record on Friday, September 5th were paid a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date of this dividend was Friday, September 5th. Arthur J. Gallagher & Co.'s payout ratio is currently 36.93%.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. Wall Street Zen upgraded Arthur J. Gallagher & Co. from a "sell" rating to a "hold" rating in a research report on Friday, September 5th. The Goldman Sachs Group started coverage on Arthur J. Gallagher & Co. in a research note on Wednesday, September 3rd. They set a "buy" rating and a $344.00 target price on the stock. Wells Fargo & Company lifted their target price on Arthur J. Gallagher & Co. from $365.00 to $366.00 and gave the company an "overweight" rating in a research note on Wednesday, October 8th. Erste Group Bank reaffirmed a "hold" rating on shares of Arthur J. Gallagher & Co. in a research note on Wednesday, July 23rd. Finally, Piper Sandler cut their target price on Arthur J. Gallagher & Co. from $352.00 to $340.00 and set an "overweight" rating on the stock in a research note on Thursday, October 2nd. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and eight have assigned a Hold rating to the company's stock. According to MarketBeat, Arthur J. Gallagher & Co. presently has an average rating of "Moderate Buy" and an average target price of $331.43.

Insiders Place Their Bets

In other news, CFO Douglas K. Howell sold 8,000 shares of the business's stock in a transaction on Monday, September 22nd. The stock was sold at an average price of $299.54, for a total value of $2,396,320.00. Following the sale, the chief financial officer owned 100,777 shares of the company's stock, valued at approximately $30,186,742.58. The trade was a 7.35% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Scott R. Hudson sold 12,855 shares of the business's stock in a transaction on Monday, September 8th. The stock was sold at an average price of $297.60, for a total value of $3,825,648.00. Following the completion of the sale, the vice president directly owned 85,920 shares in the company, valued at $25,569,792. This represents a 13.01% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 29,855 shares of company stock worth $8,916,928 in the last three months. Company 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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