Ethic Inc. Has $11.43 Million Stock Holdings in Arthur J. Gallagher & Co. $AJG

Key Points

• Ethic Inc. increased its stake in Arthur J. Gallagher & Co. by 16.3%, holding 33,240 shares valued at approximately $11.43 million as of its latest SEC filing.
• The company announced a quarterly dividend of $0.65 per share, which will be paid on September 19th, reflecting an annualized dividend yield of 0.9%.
• Arthur J. Gallagher & Co. reported earnings of $2.33 per share in its last quarter, falling short of analyst expectations, with revenue up 16.0% year-over-year at $3.18 billion.

Ethic Inc. boosted its stake in shares of Arthur J. Gallagher & Co. (NYSE:AJG - Free Report) by 16.3% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 33,240 shares of the financial services provider's stock after purchasing an additional 4,650 shares during the quarter. Ethic Inc.'s holdings in Arthur J. Gallagher & Co. were worth $11,430,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of the stock. HWG Holdings LP purchased a new position in shares of Arthur J. Gallagher & Co. in the 1st quarter valued at about $25,000. Johnson Financial Group Inc. boosted its position in shares of Arthur J. Gallagher & Co. by 205.4% in the 4th quarter. Johnson Financial Group Inc. now owns 113 shares of the financial services provider's stock valued at $34,000 after purchasing an additional 76 shares during the period. Parvin Asset Management LLC acquired a new stake in shares of Arthur J. Gallagher & Co. in the 4th quarter valued at about $35,000. Centennial Bank AR acquired a new stake in shares of Arthur J. Gallagher & Co. in the 1st quarter valued at about $38,000. Finally, Golden State Wealth Management LLC lifted its position in Arthur J. Gallagher & Co. by 2,750.0% during the 1st quarter. Golden State Wealth Management LLC now owns 114 shares of the financial services provider's stock worth $39,000 after acquiring an additional 110 shares during the period. Hedge funds and other institutional investors own 85.53% of the company's stock.

Insider Activity

In other Arthur J. Gallagher & Co. news, VP Scott R. Hudson sold 10,500 shares of the firm's stock in a transaction that occurred on Wednesday, May 21st. The shares were sold at an average price of $337.17, for a total value of $3,540,285.00. Following the transaction, the vice president directly owned 91,175 shares of the company's stock, valued at approximately $30,741,474.75. This trade represents a 10.33% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Susan E. Pietrucha sold 13,500 shares of the firm's stock in a transaction that occurred on Monday, May 19th. The shares were sold at an average price of $344.13, for a total transaction of $4,645,755.00. Following the completion of the transaction, 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 disclosure for this sale can be found here. Corporate insiders own 1.60% of the company's stock.

Arthur J. Gallagher & Co. Stock Down 0.3%

NYSE:AJG traded down $0.79 during trading hours on Friday, hitting $292.62. 1,237,379 shares of the stock traded hands, compared to its average volume of 1,693,092. Arthur J. Gallagher & Co. has a fifty-two week low of $274.25 and a fifty-two week high of $351.23. 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 firm has a market cap of $75.03 billion, a price-to-earnings ratio of 41.57 and a beta of 0.68. The firm has a 50 day moving average price of $308.01 and a 200 day moving average price of $322.75.

Arthur J. Gallagher & Co. (NYSE:AJG - Get Free Report) last issued its quarterly earnings data on Thursday, July 31st. The financial services provider reported $2.33 earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 during the quarter, compared to the consensus estimate of $3.20 billion. During the same quarter in the prior year, the company posted $2.29 earnings per share. The company's revenue for the quarter was up 16.0% on a year-over-year basis. Equities research analysts anticipate that Arthur J. Gallagher & Co. will post 11.54 earnings per share for the current year.

Arthur J. Gallagher & Co. Dividend Announcement

The firm 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 $0.65 dividend. This represents a $2.60 annualized dividend and a yield of 0.9%. The ex-dividend date of this dividend is Friday, September 5th. Arthur J. Gallagher & Co.'s dividend payout ratio is 36.93%.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. Piper Sandler increased their price objective on Arthur J. Gallagher & Co. from $352.00 to $372.00 and gave the stock an "overweight" rating in a research report on Friday, August 1st. Citigroup initiated coverage on Arthur J. Gallagher & Co. in a report on Wednesday. They issued a "neutral" rating and a $317.00 price target for the company. Wells Fargo & Company raised their price target on Arthur J. Gallagher & Co. from $371.00 to $373.00 and gave the company an "overweight" rating in a report on Friday, August 1st. Barclays reduced their price target on Arthur J. Gallagher & Co. from $346.00 to $327.00 and set an "equal weight" rating for the company in a report on Monday, July 7th. Finally, Wall Street Zen downgraded Arthur J. Gallagher & Co. from a "hold" rating to a "sell" rating in a research note on Saturday, August 9th. Two analysts have rated the stock with a sell rating, nine have given a hold rating, five have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, Arthur J. Gallagher & Co. currently has a consensus rating of "Hold" and a consensus target price of $331.07.

About Arthur J. Gallagher & Co.

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.