Arthur J. Gallagher & Co. (NYSE:AJG) Shares Purchased by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. lifted its stake in Arthur J. Gallagher & Co. (NYSE:AJG - Free Report) by 8.0% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 68,413 shares of the financial services provider's stock after acquiring an additional 5,094 shares during the quarter. PNC Financial Services Group Inc.'s holdings in Arthur J. Gallagher & Co. were worth $23,619,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Mengis Capital Management Inc. acquired a new stake in Arthur J. Gallagher & Co. during the 1st quarter worth approximately $228,000. Hartford Investment Management Co. lifted its holdings in Arthur J. Gallagher & Co. by 0.8% during the 1st quarter. Hartford Investment Management Co. now owns 15,563 shares of the financial services provider's stock worth $5,373,000 after buying an additional 129 shares in the last quarter. Moors & Cabot Inc. acquired a new stake in Arthur J. Gallagher & Co. during the 1st quarter worth approximately $236,000. Alberta Investment Management Corp acquired a new stake in Arthur J. Gallagher & Co. during the 1st quarter worth approximately $3,467,000. Finally, Nicolet Advisory Services LLC lifted its holdings in Arthur J. Gallagher & Co. by 12.5% during the 1st quarter. Nicolet Advisory Services LLC now owns 1,331 shares of the financial services provider's stock worth $434,000 after buying an additional 148 shares in the last quarter. 85.53% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

AJG has been the topic of a number of research reports. UBS Group reduced their target price on shares of Arthur J. Gallagher & Co. from $345.00 to $322.00 and set a "neutral" rating on the stock in a report on Monday. Keefe, Bruyette & Woods raised their price objective on shares of Arthur J. Gallagher & Co. from $326.00 to $330.00 and gave the company a "market perform" rating in a report on Wednesday, July 9th. Jefferies Financial Group reduced their price objective on shares of Arthur J. Gallagher & Co. from $266.00 to $265.00 and set a "hold" rating on the stock in a report on Friday, April 11th. Piper Sandler raised their price objective 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. Finally, Erste Group Bank restated a "hold" rating on shares of Arthur J. Gallagher & Co. in a report on Wednesday, July 23rd. One analyst has rated the stock with a sell rating, eight have issued a hold rating and five have given a buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $329.15.

Arthur J. Gallagher & Co. Trading Up 0.1%

Shares of Arthur J. Gallagher & Co. stock opened at $284.54 on Tuesday. Arthur J. Gallagher & Co. has a 1 year low of $274.25 and a 1 year high of $351.23. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.44 and a current ratio of 1.36. The company has a market capitalization of $72.87 billion, a P/E ratio of 40.42 and a beta of 0.68. The company's fifty day moving average is $316.92 and its two-hundred day moving average is $322.97.

Arthur J. Gallagher & Co. (NYSE:AJG - Get Free Report) last issued its earnings results on Thursday, July 31st. The financial services provider reported $2.33 earnings per share for the quarter, missing the consensus estimate 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 company had revenue of $3.18 billion for the quarter, compared to analyst estimates of $3.20 billion. During the same quarter in the previous year, the company posted $2.29 earnings per share. The company's quarterly revenue was up 16.0% compared to the same quarter last year. Analysts forecast 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 announced a quarterly dividend, which will be paid on Friday, September 19th. Investors of record on Friday, September 5th will be issued a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date is Friday, September 5th. Arthur J. Gallagher & Co.'s payout ratio is presently 36.93%.

Insider Activity at Arthur J. Gallagher & Co.

In other Arthur J. Gallagher & Co. news, Director David S. Johnson sold 1,000 shares of the business's stock in a transaction on Friday, May 16th. The shares were sold at an average price of $342.04, for a total transaction of $342,040.00. Following the completion of the sale, the director owned 45,323 shares in the company, valued at $15,502,278.92. The trade was a 2.16% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Scott R. Hudson sold 10,500 shares of the company's stock in a transaction dated 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 transaction, the vice president owned 91,175 shares of the company's stock, valued at $30,741,474.75. This represents a 10.33% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 25,000 shares of company stock worth $8,528,080. 1.30% of the stock is owned by company insiders.

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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