DSM Capital Partners LLC bought a new stake in Arthur J. Gallagher & Co. (NYSE:AJG - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 395,566 shares of the financial services provider's stock, valued at approximately $136,565,000. Arthur J. Gallagher & Co. makes up about 2.4% of DSM Capital Partners LLC's investment portfolio, making the stock its 13th biggest holding. DSM Capital Partners LLC owned 0.15% of Arthur J. Gallagher & Co. at the end of the most recent quarter.
Other institutional investors also recently bought and sold shares of the company. HWG Holdings LP bought a new stake in Arthur J. Gallagher & Co. in the first quarter worth $25,000. Centennial Bank AR bought a new stake in Arthur J. Gallagher & Co. in the first quarter worth $38,000. Motco lifted its position 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 buying an additional 98 shares during the last quarter. SouthState Corp bought a new stake in Arthur J. Gallagher & Co. in the first quarter worth $39,000. Finally, Johnson Financial Group Inc. lifted its position in Arthur J. Gallagher & Co. by 205.4% in the fourth quarter. Johnson Financial Group Inc. now owns 113 shares of the financial services provider's stock worth $34,000 after buying an additional 76 shares during the last quarter. 85.53% of the stock is currently owned by institutional investors.
Arthur J. Gallagher & Co. Trading Up 1.6%
Shares of NYSE:AJG opened at $295.23 on Thursday. The company has a current ratio of 1.36, a quick ratio of 1.36 and a debt-to-equity ratio of 0.52. The company has a market capitalization of $75.70 billion, a PE ratio of 41.94 and a beta of 0.68. The business has a 50 day moving average of $309.43 and a two-hundred day moving average of $322.41. 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 announced 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 business had revenue of $3.18 billion for the quarter, compared to analyst estimates of $3.20 billion. During the same period in the previous year, the company earned $2.29 earnings per share. The company's quarterly revenue was up 16.0% compared to the same quarter last year. As a group, analysts forecast that Arthur J. Gallagher & Co. will post 11.54 EPS for the current year.
Arthur J. Gallagher & Co. Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Friday, September 19th. Investors of record on Friday, September 5th will be given a dividend of $0.65 per share. 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 payout ratio is presently 36.93%.
Wall Street Analyst Weigh In
Several research firms have recently weighed in on AJG. Barclays decreased their target price on Arthur J. Gallagher & Co. from $346.00 to $327.00 and set an "equal weight" rating for the company in a research report on Monday, July 7th. Wells Fargo & Company lifted their target price on Arthur J. Gallagher & Co. from $371.00 to $373.00 and gave the stock an "overweight" rating in a research report on Friday, August 1st. Erste Group Bank reiterated a "hold" rating on shares of Arthur J. Gallagher & Co. in a research report on Wednesday, July 23rd. Citigroup began coverage on Arthur J. Gallagher & Co. in a research report on Wednesday. They set a "neutral" rating and a $317.00 target price for the company. Finally, Cantor Fitzgerald began coverage on Arthur J. Gallagher & Co. in a research note on Tuesday. They set an "overweight" rating and a $370.00 price target on the stock. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have issued a buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $331.07.
Get Our Latest Analysis on Arthur J. Gallagher & Co.
Insider Buying and Selling
In related news, insider Susan E. Pietrucha sold 13,500 shares of the business's stock in a transaction that occurred on Monday, May 19th. The stock was sold at an average price of $344.13, for a total transaction of $4,645,755.00. Following the completion of the sale, the insider directly owned 11,941 shares in the company, valued at approximately $4,109,256.33. The trade was a 53.06% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Scott R. Hudson sold 10,500 shares of the business's stock in a transaction that occurred 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 sale, 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 ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 25,000 shares of company stock worth $8,528,080. 1.60% of the stock is owned by corporate insiders.
About Arthur J. Gallagher & Co.
(
Free Report)
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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