Cullinan Associates Inc. Purchases Shares of 17,500 Arthur J. Gallagher & Co. $AJG

Cullinan Associates Inc. purchased a new position in shares of Arthur J. Gallagher & Co. (NYSE:AJG - Free Report) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 17,500 shares of the financial services provider's stock, valued at approximately $4,017,000.

A number of other institutional investors also recently modified their holdings of AJG. Dearborn Partners LLC increased its position in Arthur J. Gallagher & Co. by 6.3% in the 4th quarter. Dearborn Partners LLC now owns 133,936 shares of the financial services provider's stock valued at $34,661,000 after buying an additional 7,946 shares in the last quarter. Seizert Capital Partners LLC bought a new position in Arthur J. Gallagher & Co. in the fourth quarter worth approximately $3,571,000. Gtcr LLC acquired a new stake in Arthur J. Gallagher & Co. in the first quarter valued at approximately $514,112,000. SBI Okasan Asset Management Co.Ltd. acquired a new stake in Arthur J. Gallagher & Co. in the fourth quarter valued at approximately $1,371,000. Finally, Evelyn Partners Investment Management Services Ltd bought a new stake in shares of Arthur J. Gallagher & Co. during the first quarter valued at approximately $5,848,000. Institutional investors and hedge funds own 85.53% of the company's stock.

Arthur J. Gallagher & Co. Trading Up 2.8%

NYSE AJG opened at $267.43 on Friday. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.50. The business has a fifty day simple moving average of $249.63 and a 200 day simple moving average of $225.78. Arthur J. Gallagher & Co. has a 12 month low of $190.75 and a 12 month high of $313.55. The firm has a market capitalization of $68.54 billion, a P/E ratio of 44.35, a PEG ratio of 1.64 and a beta of 0.50.

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

Arthur J. Gallagher & Co. Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 18th. Shareholders of record on Tuesday, September 8th will be given a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date of this dividend is Tuesday, September 8th. Arthur J. Gallagher & Co.'s dividend payout ratio is presently 46.43%.

Analyst Ratings Changes

A number of brokerages recently issued reports on AJG. Argus increased their target price on Arthur J. Gallagher & Co. from $267.00 to $300.00 and gave the stock a "buy" rating in a report on Monday, August 17th. Mizuho upped their price objective on shares of Arthur J. Gallagher & Co. from $287.00 to $300.00 and gave the stock an "outperform" rating in a report on Friday, July 31st. Piper Sandler raised their price objective on shares of Arthur J. Gallagher & Co. from $276.00 to $287.00 and gave the company an "overweight" rating in a research note on Friday, July 31st. Jefferies Financial Group upgraded shares of Arthur J. Gallagher & Co. from a "hold" rating to a "buy" rating and lifted their price objective for the company from $235.00 to $265.00 in a report on Thursday, June 11th. Finally, Barclays upped their target price on shares of Arthur J. Gallagher & Co. from $275.00 to $292.00 and gave the stock an "overweight" rating in a report on Tuesday, July 7th. Fourteen analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $290.28.

Insiders Place Their Bets

In other Arthur J. Gallagher & Co. news, General Counsel Walter D. Bay sold 12,000 shares of Arthur J. Gallagher & Co. stock in a transaction that occurred on Monday, August 24th. The shares were sold at an average price of $270.08, for a total transaction of $3,240,960.00. Following the transaction, the general counsel owned 71,292 shares of the company's stock, valued at $19,254,543.36. This trade represents a 14.41% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Christopher E. Mead sold 3,500 shares of the business's stock in a transaction that occurred on Wednesday, August 19th. The stock was 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 owned 22,223 shares in the company, valued at $5,711,755.46. The trade was a 13.61% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 18,500 shares of company stock valued at $4,758,530. Corporate insiders own 1.40% of the company's stock.

About Arthur J. Gallagher & Co.

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.

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