Arthur J. Gallagher & Co. (NYSE:AJG) Shares Bought by JPMorgan Chase & Co.

Key Points

• JPMorgan Chase & Co. increased its ownership of Arthur J. Gallagher & Co. shares by 38.3%, holding approximately 17.4 million shares valued at about $6 billion.
• Analysts have downgraded the company, with Wall Street Zen changing its rating from "hold" to "sell" and UBS Group lowering its price target from $345 to $322.
• In recent insider trading, VP Scott R. Hudson sold 10,500 shares for over $3.5 million, indicating a significant decrease in his ownership position.

JPMorgan Chase & Co. increased its stake in Arthur J. Gallagher & Co. (NYSE:AJG - Free Report) by 38.3% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 17,372,745 shares of the financial services provider's stock after purchasing an additional 4,815,007 shares during the period. JPMorgan Chase & Co. owned approximately 6.78% of Arthur J. Gallagher & Co. worth $5,997,767,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently made changes to their positions in AJG. HWG Holdings LP bought a new stake in Arthur J. Gallagher & Co. during the first quarter valued at $25,000. Centennial Bank AR acquired a new position in shares of Arthur J. Gallagher & Co. during the 1st quarter valued at $38,000. Motco grew its holdings in Arthur J. Gallagher & Co. by 700.0% in the first quarter. Motco now owns 112 shares of the financial services provider's stock worth $39,000 after purchasing an additional 98 shares during the period. Johnson Financial Group Inc. raised its holdings in shares of Arthur J. Gallagher & Co. by 205.4% during the fourth quarter. Johnson Financial Group Inc. now owns 113 shares of the financial services provider's stock valued at $34,000 after purchasing an additional 76 shares during the period. Finally, Golden State Wealth Management LLC boosted its position in shares of 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 worth $39,000 after purchasing an additional 110 shares in the last quarter. Institutional investors own 85.53% of the company's stock.

Arthur J. Gallagher & Co. Stock Up 1.5%

Shares of NYSE AJG traded up $4.38 on Wednesday, reaching $295.03. 558,758 shares of the company's stock traded hands, compared to its average volume of 1,549,195. The company has a quick ratio of 1.36, a current ratio of 1.36 and a debt-to-equity ratio of 0.52. The company has a market cap of $75.64 billion, a price-to-earnings ratio of 41.89 and a beta of 0.68. The business's 50 day simple moving average is $310.25 and its two-hundred day simple moving average is $322.60. Arthur J. Gallagher & Co. has a 12 month low of $274.25 and a 12 month high of $351.23.

Arthur J. Gallagher & Co. (NYSE:AJG - Get Free Report) last posted its earnings results 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). The business had revenue of $3.18 billion during the quarter, compared to the consensus estimate of $3.20 billion. Arthur J. Gallagher & Co. had a return on equity of 13.17% and a net margin of 14.54%. The firm's revenue for the quarter was up 16.0% on a year-over-year basis. During the same period in the previous year, the business posted $2.29 EPS. As a group, equities research analysts forecast that Arthur J. Gallagher & Co. will post 11.54 EPS for the current fiscal year.

Arthur J. Gallagher & Co. Announces Dividend

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

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on AJG shares. UBS Group dropped their target price on shares of Arthur J. Gallagher & Co. from $345.00 to $322.00 and set a "neutral" rating for the company in a research report on Monday, August 4th. Piper Sandler upped their price target on shares of Arthur J. Gallagher & Co. from $352.00 to $372.00 and gave the company an "overweight" rating in a report on Friday, August 1st. Wells Fargo & Company raised their price target on shares of Arthur J. Gallagher & Co. from $371.00 to $373.00 and gave the stock an "overweight" rating in a report on Friday, August 1st. Wall Street Zen lowered shares of Arthur J. Gallagher & Co. from a "hold" rating to a "sell" rating in a report on Saturday. Finally, Barclays reduced their price target on Arthur J. Gallagher & Co. from $346.00 to $327.00 and set an "equal weight" rating on the stock in a report on Monday, July 7th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and six have given a buy rating to the company's stock. According to MarketBeat, Arthur J. Gallagher & Co. has a consensus rating of "Hold" and a consensus price target of $331.07.

Insider Transactions at Arthur J. Gallagher & Co.

In other Arthur J. Gallagher & Co. news, VP Scott R. Hudson sold 10,500 shares of the firm's stock in a transaction on Wednesday, May 21st. The stock was sold at an average price of $337.17, for a total transaction of $3,540,285.00. Following the completion of the sale, the vice president owned 91,175 shares of the company's stock, valued at $30,741,474.75. This trade represents a 10.33% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Susan E. Pietrucha sold 13,500 shares of the stock in a transaction on Monday, May 19th. The shares were sold at an average price of $344.13, for a total transaction of $4,645,755.00. Following the completion of the transaction, the insider directly owned 11,941 shares in the company, valued at $4,109,256.33. This trade represents a 53.06% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 25,000 shares of company stock worth $8,528,080 in the last three months. Corporate insiders own 1.30% 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.