Financiere des Professionnels Fonds d investissement inc. Buys 957 Shares of Arthur J. Gallagher & Co. $AJG

Key Points

• Financiere des Professionnels Fonds d’investissement inc. increased its stake in Arthur J. Gallagher & Co. by 97.0%, now holding 1,944 shares valued at approximately $622,000.
• Institutional ownership in Arthur J. Gallagher & Co. is high at 85.53%, with several major hedge funds, including Vanguard and JPMorgan, raising their stakes in the company.
• Arthur J. Gallagher & Co. recently declared a quarterly dividend of $0.65, representing an annual dividend yield of 0.9%.

Financiere des Professionnels Fonds d investissement inc. boosted its holdings in shares of Arthur J. Gallagher & Co. (NYSE:AJG - Free Report) by 97.0% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,944 shares of the financial services provider's stock after purchasing an additional 957 shares during the quarter. Financiere des Professionnels Fonds d investissement inc.'s holdings in Arthur J. Gallagher & Co. were worth $622,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the business. Tidal Investments LLC lifted its position in shares of Arthur J. Gallagher & Co. by 52.3% in the 4th quarter. Tidal Investments LLC now owns 14,965 shares of the financial services provider's stock worth $4,248,000 after acquiring an additional 5,141 shares during the period. Two Sigma Investments LP bought a new stake in shares of Arthur J. Gallagher & Co. in the 4th quarter worth approximately $382,000. Waverly Advisors LLC bought a new stake in shares of Arthur J. Gallagher & Co. in the 4th quarter worth approximately $517,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Arthur J. Gallagher & Co. by 27.4% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,438,960 shares of the financial services provider's stock worth $408,449,000 after acquiring an additional 309,705 shares during the period. Finally, Kolinsky Wealth Management LLC lifted its position in shares of Arthur J. Gallagher & Co. by 17.5% in the 4th quarter. Kolinsky Wealth Management LLC now owns 2,908 shares of the financial services provider's stock worth $825,000 after acquiring an additional 433 shares during the period. Institutional investors own 85.53% of the company's stock.

Arthur J. Gallagher & Co. Stock Up 1.1%

AJG stock traded up $3.16 during mid-day trading on Friday, reaching $299.90. The company had a trading volume of 2,605,274 shares, compared to its average volume of 1,301,658. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.36 and a quick ratio of 1.36. The stock has a 50 day simple moving average of $298.80 and a two-hundred day simple moving average of $318.17. The company has a market capitalization of $76.89 billion, a price-to-earnings ratio of 42.60 and a beta of 0.72. Arthur J. Gallagher & Co. has a 52 week low of $274.25 and a 52 week high of $351.23.

Arthur J. Gallagher & Co. (NYSE:AJG - Get Free Report) last announced its quarterly earnings results on Thursday, July 31st. The financial services provider reported $2.33 earnings per share for the quarter, missing analysts' consensus estimates of $2.36 by ($0.03). The business had revenue of $3.18 billion for the quarter, compared to analyst estimates of $3.20 billion. Arthur J. Gallagher & Co. had a return on equity of 13.17% and a net margin of 14.54%.Arthur J. Gallagher & Co.'s quarterly revenue was up 16.0% compared to the same quarter last year. During the same period last year, the firm earned $2.29 EPS. As a group, equities analysts predict that Arthur J. Gallagher & Co. will post 11.54 earnings per share for the current fiscal year.

Arthur J. Gallagher & Co. Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 19th. Stockholders of record on Friday, September 5th were given a $0.65 dividend. The ex-dividend date of this dividend was Friday, September 5th. This represents a $2.60 annualized dividend and a dividend yield of 0.9%. Arthur J. Gallagher & Co.'s dividend payout ratio is presently 36.93%.

Analysts Set New Price Targets

AJG has been the subject of several analyst reports. Citigroup initiated coverage on Arthur J. Gallagher & Co. in a research report on Wednesday, August 13th. They set a "neutral" rating and a $317.00 target price for the company. Erste Group Bank reaffirmed a "hold" rating on shares of Arthur J. Gallagher & Co. in a report on Wednesday, July 23rd. Keefe, Bruyette & Woods raised their price target on Arthur J. Gallagher & Co. from $288.00 to $298.00 and gave the company a "market perform" rating in a report on Friday. Piper Sandler raised their price target on Arthur J. Gallagher & Co. from $352.00 to $372.00 and gave the company an "overweight" rating in a report on Friday, August 1st. Finally, Cantor Fitzgerald raised Arthur J. Gallagher & Co. to a "strong-buy" rating in a research note on Wednesday, August 13th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $330.93.

Insider Buying and Selling

In other news, VP Scott R. Hudson sold 12,855 shares of the stock in a transaction that occurred on Monday, September 8th. The stock was sold at an average price of $297.60, for a total transaction of $3,825,648.00. Following the transaction, the vice president owned 85,920 shares in the company, valued at approximately $25,569,792. This trade represents a 13.01% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Douglas K. Howell sold 3,000 shares of the business's stock in a transaction that occurred on Tuesday, September 9th. The shares were sold at an average price of $299.78, for a total value of $899,340.00. Following the completion of the sale, the chief financial officer owned 114,777 shares of the company's stock, valued at approximately $34,407,849.06. This trade represents a 2.55% decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.60% of the stock is currently 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.