Bradley Foster & Sargent Inc. CT cut its stake in Arthur J. Gallagher & Co. (NYSE:AJG - Free Report) by 79.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,690 shares of the financial services provider's stock after selling 10,142 shares during the quarter. Bradley Foster & Sargent Inc. CT's holdings in Arthur J. Gallagher & Co. were worth $583,000 at the end of the most recent quarter.
A number of other hedge funds have also recently made changes to their positions in the stock. Vanguard Group Inc. raised its holdings in Arthur J. Gallagher & Co. by 0.7% in the fourth quarter. Vanguard Group Inc. now owns 31,390,446 shares of the financial services provider's stock worth $8,123,534,000 after purchasing an additional 217,136 shares in the last quarter. Capital World Investors grew its position in shares of Arthur J. Gallagher & Co. by 7.0% in the 4th quarter. Capital World Investors now owns 12,613,371 shares of the financial services provider's stock worth $3,264,359,000 after buying an additional 830,252 shares during the last quarter. State Street Corp raised its stake in shares of Arthur J. Gallagher & Co. by 0.6% during the 4th quarter. State Street Corp now owns 10,953,598 shares of the financial services provider's stock worth $2,834,682,000 after acquiring an additional 62,518 shares in the last quarter. Norges Bank purchased a new stake in Arthur J. Gallagher & Co. during the fourth quarter valued at approximately $1,925,062,000. Finally, T. Rowe Price Investment Management Inc. boosted its stake in Arthur J. Gallagher & Co. by 123.5% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 5,887,538 shares of the financial services provider's stock valued at $1,523,636,000 after acquiring an additional 3,253,498 shares in the last quarter. 85.53% of the stock is currently owned by hedge funds and other institutional investors.
Arthur J. Gallagher & Co. Price Performance
NYSE AJG opened at $253.46 on Tuesday. The stock's fifty day moving average price is $227.26 and its 200 day moving average price is $224.89. Arthur J. Gallagher & Co. has a 1 year low of $190.75 and a 1 year high of $315.00. 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 company has a market cap of $65.11 billion, a price-to-earnings ratio of 41.01, a PEG ratio of 1.28 and a beta of 0.50.
Arthur J. Gallagher & Co. (NYSE:AJG - Get Free Report) last posted its quarterly earnings results on Thursday, April 30th. The financial services provider reported $4.47 earnings per share for the quarter, beating the consensus estimate of $4.43 by $0.04. Arthur J. Gallagher & Co. had a return on equity of 12.83% and a net margin of 10.76%.The business had revenue of $4.71 billion for the quarter, compared to the consensus estimate of $4.73 billion. During the same quarter in the previous year, the business earned $3.67 EPS. The company's quarterly revenue was up 29.0% compared to the same quarter last year. As a group, equities research analysts forecast that Arthur J. Gallagher & Co. will post 13.22 earnings per share for the current year.
Arthur J. Gallagher & Co. Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Friday, June 19th. Investors of record on Friday, June 5th were issued a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 1.1%. The ex-dividend date was Friday, June 5th. Arthur J. Gallagher & Co.'s dividend payout ratio is 45.31%.
Insider Transactions at Arthur J. Gallagher & Co.
In other Arthur J. Gallagher & Co. news, CAO Richard C. Cary sold 3,000 shares of the firm's stock in a transaction that occurred on Tuesday, June 2nd. The shares were sold at an average price of $206.00, for a total transaction of $618,000.00. Following the completion of the transaction, the chief accounting officer directly owned 47,819 shares of the company's stock, valued at approximately $9,850,714. This trade represents a 5.90% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 1.40% of the company's stock.
Analysts Set New Price Targets
AJG has been the topic of a number of recent analyst reports. Royal Bank Of Canada upped their price target on Arthur J. Gallagher & Co. from $260.00 to $300.00 and gave the stock an "outperform" rating in a research report on Monday, July 13th. Truist Financial dropped their target price on Arthur J. Gallagher & Co. from $235.00 to $225.00 and set a "hold" rating on the stock in a research note on Friday, May 1st. Keefe, Bruyette & Woods upped their target price on Arthur J. Gallagher & Co. from $242.00 to $261.00 and gave the company a "market perform" rating in a research report on Wednesday, July 8th. Mizuho increased their price target on Arthur J. Gallagher & Co. from $261.00 to $287.00 and gave the company an "outperform" rating in a research note on Thursday, July 9th. Finally, Citigroup upgraded Arthur J. Gallagher & Co. from a "neutral" rating to a "buy" rating and dropped their price target for the stock from $280.00 to $250.00 in a research note on Wednesday, May 6th. Thirteen investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $280.35.
Check Out Our Latest Stock Analysis on AJG
Arthur J. Gallagher & Co. Profile
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Free Report)
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.
See Also
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