Arthur J. Gallagher & Co. $AJG Stock: State of Alaska Department of Revenue Boosts Holdings

Key Points

• State of Alaska Department of Revenue increased its Arthur J. Gallagher holdings by 10.4% in the third quarter to 49,405 shares valued at approximately $11.8 million. Institutional investors collectively own 85.53% of the company.
• Analyst sentiment remains favorable, with 16 Buy ratings and five Hold ratings producing a consensus “Moderate Buy” rating and an average price target of $280.74.
• Gallagher reported quarterly EPS of $2.84, slightly exceeding estimates, while revenue rose 24.3% year over year to $3.95 billion. The company also paid a quarterly dividend of $0.70 per share, representing a 1.1% yield.

State of Alaska Department of Revenue raised its holdings in Arthur J. Gallagher & Co. (NYSE:AJG - Free Report) by 10.4% in the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 49,405 shares of the financial services provider's stock after acquiring an additional 4,663 shares during the quarter. State of Alaska Department of Revenue's holdings in Arthur J. Gallagher & Co. were worth $11,812,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the business. Axiom Investment Management LLC bought a new stake in shares of Arthur J. Gallagher & Co. in the first quarter worth $28,000. Triumph Capital Management raised its position in Arthur J. Gallagher & Co. by 4,000.0% during the 3rd quarter. Triumph Capital Management now owns 123 shares of the financial services provider's stock worth $28,000 after purchasing an additional 120 shares during the last quarter. Cassaday & Co Wealth Management LLC bought a new position in Arthur J. Gallagher & Co. during the 1st quarter worth $29,000. MV Capital Management Inc. acquired a new position in Arthur J. Gallagher & Co. during the 4th quarter worth about $34,000. Finally, Avalon Trust Co acquired a new position in Arthur J. Gallagher & Co. during the 1st quarter worth about $40,000. Institutional investors own 85.53% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. Seaport Research Partners raised Arthur J. Gallagher & Co. to a "buy" rating in a research note on Wednesday, October 7th. Truist Financial raised their price objective on Arthur J. Gallagher & Co. from $225.00 to $265.00 and gave the stock a "hold" rating in a research report on Friday, July 31st. Morgan Stanley cut their price objective on Arthur J. Gallagher & Co. from $285.00 to $260.00 and set an "overweight" rating on the stock in a research note on Tuesday, October 6th. Piper Sandler reiterated an "overweight" rating on shares of Arthur J. Gallagher & Co. in a report on Thursday, September 24th. Finally, Evercore increased their target price on shares of Arthur J. Gallagher & Co. from $295.00 to $307.00 and gave the company an "outperform" rating in a research report on Thursday, October 8th. Sixteen investment 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 currently has a consensus rating of "Moderate Buy" and an average target price of $280.74.

Arthur J. Gallagher & Co. Price Performance

AJG stock opened at $250.17 on Friday. The firm has a market cap of $64.12 billion, a price-to-earnings ratio of 41.49, a PEG ratio of 1.35 and a beta of 0.55. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.50. Arthur J. Gallagher & Co. has a 12-month low of $190.75 and a 12-month high of $288.33. The company's fifty day simple moving average is $246.27 and its 200 day simple moving average is $232.02.

Arthur J. Gallagher & Co. (NYSE:AJG - Get Free Report) last issued its quarterly earnings results on Thursday, July 30th. The financial services provider reported $2.84 EPS for the quarter, beating analysts' consensus estimates of $2.81 by $0.03. Arthur J. Gallagher & Co. had a net margin of 9.96% and a return on equity of 13.28%. The business had revenue of $3.95 billion for the quarter, compared to analysts' expectations of $4.01 billion. During the same quarter in the prior year, the firm posted $2.33 earnings per share. The business's quarterly revenue was up 24.3% compared to the same quarter last year. On average, analysts expect that Arthur J. Gallagher & Co. will post 13.17 earnings per share for the current year.

Arthur J. Gallagher & Co. Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 18th. Investors of record on Tuesday, September 8th were given a dividend of $0.70 per share. The ex-dividend date was 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 presently 46.43%.

Insiders Place Their Bets

In other Arthur J. Gallagher & Co. news, CAO Richard C. Cary sold 1,000 shares of Arthur J. Gallagher & Co. stock in a transaction that occurred on Tuesday, September 15th. The stock was sold at an average price of $252.86, for a total value of $252,860.00. Following the completion of the sale, the chief accounting officer directly owned 46,819 shares in the company, valued at approximately $11,838,652.34. The trade was a 2.09% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Christopher E. Mead sold 3,500 shares of the business's stock in a transaction that occurred on Wednesday, August 19th. The shares were sold at an average price of $257.02, for a total value of $899,570.00. Following the completion of the transaction, the vice president directly owned 22,223 shares in the company, valued at approximately $5,711,755.46. This trade represents a 13.61% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 28,500 shares of company stock worth $7,562,950 in the last quarter. 1.40% of the stock is currently owned by company insiders.

Arthur J. Gallagher & Co. Profile

Arthur J. Gallagher & Co is a global insurance brokerage, risk management and consulting company headquartered in Rolling Meadows, Illinois. The company helps businesses, public entities and individuals identify, manage and transfer risk through insurance brokerage, employee benefits consulting, risk management and related advisory services.

Gallagher operates through several businesses, including retail insurance brokerage, wholesale brokerage and reinsurance brokerage. Its Gallagher Re business provides reinsurance broking and advisory services, while Gallagher Bassett provides third-party claims administration and related risk management services.

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