Arthur J. Gallagher & Co. (NYSE:AJG) Shares Purchased by Keybank National Association OH

Keybank National Association OH boosted its stake in Arthur J. Gallagher & Co. (NYSE:AJG - Free Report) by 44.2% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 5,809 shares of the financial services provider's stock after acquiring an additional 1,781 shares during the quarter. Keybank National Association OH's holdings in Arthur J. Gallagher & Co. were worth $2,005,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its stake in Arthur J. Gallagher & Co. by 14.9% during the 4th quarter. Vanguard Group Inc. now owns 29,672,134 shares of the financial services provider's stock worth $8,422,435,000 after purchasing an additional 3,851,661 shares during the last quarter. Capital International Investors raised its holdings in Arthur J. Gallagher & Co. by 3.1% in the 4th quarter. Capital International Investors now owns 10,067,647 shares of the financial services provider's stock valued at $2,857,737,000 after buying an additional 305,876 shares during the period. Capital World Investors raised its holdings in Arthur J. Gallagher & Co. by 30.4% in the 4th quarter. Capital World Investors now owns 8,199,413 shares of the financial services provider's stock valued at $2,327,403,000 after buying an additional 1,910,471 shares during the period. Geode Capital Management LLC increased its stake in Arthur J. Gallagher & Co. by 14.3% during the fourth quarter. Geode Capital Management LLC now owns 6,277,993 shares of the financial services provider's stock worth $1,779,248,000 after purchasing an additional 787,265 shares during the period. Finally, Norges Bank purchased a new stake in Arthur J. Gallagher & Co. during the fourth quarter worth about $1,421,591,000. Institutional investors and hedge funds own 85.53% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on AJG. Barclays boosted their price target on shares of Arthur J. Gallagher & Co. from $308.00 to $346.00 and gave the stock an "equal weight" rating in a research note on Friday, April 11th. Wells Fargo & Company cut their target price on shares of Arthur J. Gallagher & Co. from $372.00 to $371.00 and set an "overweight" rating on the stock in a research note on Monday, June 9th. Keefe, Bruyette & Woods upped their target price on shares of Arthur J. Gallagher & Co. from $315.00 to $326.00 and gave the stock a "market perform" rating in a research note on Thursday, June 5th. Redburn Atlantic initiated coverage on Arthur J. Gallagher & Co. in a report on Tuesday, March 25th. They issued a "neutral" rating and a $352.00 price target for the company. Finally, Jefferies Financial Group lowered their price target on Arthur J. Gallagher & Co. from $266.00 to $265.00 and set a "hold" rating for the company in a report on Friday, April 11th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and five have assigned a buy rating to the company's stock. According to data from MarketBeat, Arthur J. Gallagher & Co. presently has a consensus rating of "Hold" and an average target price of $319.29.

Arthur J. Gallagher & Co. Price Performance

Arthur J. Gallagher & Co. stock opened at $316.50 on Friday. Arthur J. Gallagher & Co. has a 12 month low of $260.83 and a 12 month high of $351.23. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.44 and a quick ratio of 1.44. The business has a 50 day simple moving average of $328.60 and a 200-day simple moving average of $319.40. The stock has a market capitalization of $81.06 billion, a PE ratio of 45.80 and a beta of 0.71.

Arthur J. Gallagher & Co. (NYSE:AJG - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The financial services provider reported $3.67 EPS for the quarter, topping the consensus estimate of $3.57 by $0.10. Arthur J. Gallagher & Co. had a return on equity of 14.83% and a net margin of 14.39%. The business had revenue of $3.69 billion during the quarter, compared to analysts' expectations of $3.85 billion. During the same quarter in the prior year, the business earned $3.45 earnings per share. The company's quarterly revenue was up 14.5% compared to the same quarter last year. Equities analysts predict that Arthur J. Gallagher & Co. will post 11.54 earnings per share for the current year.

Arthur J. Gallagher & Co. Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 20th. Stockholders of record on Friday, June 6th were paid a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a dividend yield of 0.82%. The ex-dividend date of this dividend was Friday, June 6th. Arthur J. Gallagher & Co.'s dividend payout ratio (DPR) is presently 37.63%.

Insider Transactions at Arthur J. Gallagher & Co.

In other Arthur J. Gallagher & Co. news, insider Susan E. Pietrucha sold 13,500 shares of the stock in a transaction on Monday, May 19th. The stock was sold at an average price of $344.13, for a total value of $4,645,755.00. Following the completion of the transaction, the insider owned 11,941 shares in the company, valued at approximately $4,109,256.33. This represents a 53.06% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Scott R. Hudson sold 10,500 shares of the stock in a transaction on Wednesday, May 21st. The stock was sold at an average price of $337.17, for a total value of $3,540,285.00. Following the completion of the transaction, the vice president owned 91,175 shares of the company's stock, valued at $30,741,474.75. The trade was a 10.33% decrease in their position. The disclosure for this sale can be found here. Insiders sold 25,000 shares of company stock worth $8,528,080 over the last 90 days. 1.60% of the stock is currently owned by insiders.

Arthur J. Gallagher & Co. Company 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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