Arthur J. Gallagher & Co. $AJG Shares Sold by Healthcare of Ontario Pension Plan Trust Fund

Healthcare of Ontario Pension Plan Trust Fund cut its position in shares of Arthur J. Gallagher & Co. (NYSE:AJG - Free Report) by 28.8% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 16,138 shares of the financial services provider's stock after selling 6,513 shares during the period. Healthcare of Ontario Pension Plan Trust Fund's holdings in Arthur J. Gallagher & Co. were worth $3,495,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the company. Norges Bank acquired a new position in Arthur J. Gallagher & Co. in the fourth quarter valued at approximately $1,925,062,000. T. Rowe Price Investment Management Inc. increased its stake in Arthur J. Gallagher & Co. by 123.5% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 5,887,538 shares of the financial services provider's stock worth $1,523,636,000 after acquiring an additional 3,253,498 shares during the last quarter. Northwestern Mutual Wealth Management Co. raised its position in Arthur J. Gallagher & Co. by 9,244.9% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 1,053,636 shares of the financial services provider's stock valued at $272,670,000 after purchasing an additional 1,042,361 shares during the period. Viking Global Investors LP acquired a new position in shares of Arthur J. Gallagher & Co. in the 4th quarter valued at $269,394,000. Finally, Dodge & Cox purchased a new position in shares of Arthur J. Gallagher & Co. during the 4th quarter worth $227,887,000. Hedge funds and other institutional investors own 85.53% of the company's stock.

Arthur J. Gallagher & Co. Stock Down 4.6%

Shares of NYSE:AJG opened at $256.46 on Friday. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.06 and a quick ratio of 1.06. The firm has a market capitalization of $65.88 billion, a PE ratio of 41.50, a price-to-earnings-growth ratio of 1.39 and a beta of 0.50. The firm's 50-day moving average is $230.78 and its two-hundred day moving average is $224.91. 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 posted its quarterly earnings data 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 10.76% and a return on equity of 12.83%. The business's revenue for the quarter was up 24.3% compared to the same quarter last year. During the same quarter last year, the firm posted $2.33 earnings per share. Analysts predict that Arthur J. Gallagher & Co. will post 13.22 EPS for the current year.

Arthur J. Gallagher & Co. Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 18th. Shareholders of record on Tuesday, September 8th will be given a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 1.1%. The ex-dividend date of this dividend is Tuesday, September 8th. Arthur J. Gallagher & Co.'s dividend payout ratio (DPR) is currently 45.31%.

Wall Street Analysts Forecast Growth

AJG has been the topic of several research analyst reports. Weiss Ratings upgraded shares of Arthur J. Gallagher & Co. from a "hold (c-)" rating to a "hold (c)" rating in a report on Monday, July 13th. Citigroup upgraded shares of Arthur J. Gallagher & Co. from a "neutral" rating to a "buy" rating and dropped their price target for the company from $280.00 to $250.00 in a research report on Wednesday, May 6th. Wells Fargo & Company boosted their price target on shares of Arthur J. Gallagher & Co. from $271.00 to $299.00 and gave the company an "overweight" rating in a research note on Thursday, July 9th. Mizuho increased their price objective on shares of Arthur J. Gallagher & Co. from $261.00 to $287.00 and gave the stock an "outperform" rating in a research report on Thursday, July 9th. Finally, Truist Financial dropped their target price on shares of Arthur J. Gallagher & Co. from $235.00 to $225.00 and set a "hold" rating for the company in a report on Friday, May 1st. Thirteen analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $280.35.

Arthur J. Gallagher & Co. News Roundup

Here are the key news stories impacting Arthur J. Gallagher & Co. this week:

• Positive Sentiment: Adjusted earnings beat expectations: Second-quarter adjusted earnings were $2.84 per share, $0.03 above the consensus estimate and up from $2.33 a year earlier. Arthur J. Gallagher Q2 Earnings Meet Estimates
• Positive Sentiment: Strong top-line growth and capital returns: Revenue before reimbursements rose 24.3% year over year to approximately $3.96 billion. Brokerage and Risk Management revenue also increased 24%, including 6% organic growth, while Gallagher repurchased about 900,000 shares for roughly $170 million. Arthur J. Gallagher Q2 Revenue Rises
• Positive Sentiment: Dividend maintained: Gallagher declared a quarterly dividend of $0.70 per share, payable September 18 to shareholders of record September 8, supporting the income component of the investment case. Arthur J. Gallagher Announces Third Quarter Dividend
• Neutral Sentiment: Board transition: The company announced the passing of director David Johnson and changes to board leadership. The development is unlikely to materially affect near-term earnings but adds a governance transition to monitor. Arthur J. Gallagher Announces Passing of Director David Johnson
• Negative Sentiment: Revenue and reported profit disappointed: Quarterly revenue of $3.95 billion was below the roughly $4.01 billion analyst forecast. Reported net income declined to $324 million from $368 million, with diluted GAAP EPS falling to $1.25 from $1.40, creating a mixed headline despite the adjusted EPS beat.
• Negative Sentiment: Sector growth concerns remain: Investors are questioning whether Gallagher’s approximately 6% organic growth can hold as insurance pricing conditions normalize, particularly after a peer reported weak underlying growth. Arthur J. Gallagher Slides Ahead of Earnings

Insider Activity at Arthur J. Gallagher & Co.

In other news, CAO Richard C. Cary sold 3,000 shares of the company's stock in a transaction on Tuesday, June 2nd. The stock was sold at an average price of $206.00, for a total transaction of $618,000.00. Following the sale, the chief accounting officer owned 47,819 shares of the company's stock, valued at approximately $9,850,714. This represents a 5.90% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.40% of the stock is currently owned by company insiders.

Arthur J. Gallagher & Co. Company 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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