Harel Insurance Investments & Financial Services Ltd. purchased a new stake in shares of Arthur J. Gallagher & Co. (NYSE:AJG - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 3,250 shares of the financial services provider's stock, valued at approximately $1,122,000.
Several other institutional investors and hedge funds have also recently modified their holdings of AJG. IFM Investors Pty Ltd raised its stake in Arthur J. Gallagher & Co. by 8.0% in the first quarter. IFM Investors Pty Ltd now owns 44,909 shares of the financial services provider's stock worth $15,504,000 after buying an additional 3,318 shares in the last quarter. 44 Wealth Management LLC raised its stake in Arthur J. Gallagher & Co. by 3.5% in the first quarter. 44 Wealth Management LLC now owns 2,083 shares of the financial services provider's stock worth $719,000 after buying an additional 71 shares in the last quarter. Calamos Advisors LLC raised its stake in Arthur J. Gallagher & Co. by 1.1% in the first quarter. Calamos Advisors LLC now owns 88,636 shares of the financial services provider's stock worth $30,601,000 after buying an additional 987 shares in the last quarter. Conning Inc. raised its stake in Arthur J. Gallagher & Co. by 5.1% in the first quarter. Conning Inc. now owns 1,376 shares of the financial services provider's stock worth $475,000 after buying an additional 67 shares in the last quarter. Finally, Checchi Capital Advisers LLC raised its stake in Arthur J. Gallagher & Co. by 1.1% in the first quarter. Checchi Capital Advisers LLC now owns 2,899 shares of the financial services provider's stock worth $1,001,000 after buying an additional 31 shares in the last quarter. Institutional investors own 85.53% of the company's stock.
Analyst Upgrades and Downgrades
A number of equities analysts recently commented on AJG shares. Keefe, Bruyette & Woods boosted their price objective on shares of Arthur J. Gallagher & Co. from $315.00 to $326.00 and gave the stock a "market perform" rating in a research note on Thursday, June 5th. Jefferies Financial Group decreased their price objective on Arthur J. Gallagher & Co. from $266.00 to $265.00 and set a "hold" rating for the company in a report on Friday, April 11th. Redburn Atlantic began coverage on Arthur J. Gallagher & Co. in a report on Tuesday, March 25th. They set a "neutral" rating and a $352.00 price objective for the company. Wells Fargo & Company decreased their price objective on Arthur J. Gallagher & Co. from $372.00 to $371.00 and set an "overweight" rating for the company in a report on Monday, June 9th. Finally, Barclays decreased their price objective 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. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, Arthur J. Gallagher & Co. has a consensus rating of "Hold" and an average target price of $317.93.
Check Out Our Latest Stock Analysis on AJG
Arthur J. Gallagher & Co. Stock Performance
Shares of NYSE AJG traded down $2.22 during mid-day trading on Tuesday, hitting $313.85. The stock had a trading volume of 1,110,061 shares, compared to its average volume of 1,381,683. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.44 and a current ratio of 1.44. The company has a 50 day moving average of $328.38 and a two-hundred day moving average of $320.16. Arthur J. Gallagher & Co. has a twelve month low of $263.22 and a twelve month high of $351.23. The firm has a market cap of $80.38 billion, a PE ratio of 45.42 and a beta of 0.71.
Arthur J. Gallagher & Co. (NYSE:AJG - Get Free Report) last released its earnings results on Thursday, May 1st. The financial services provider reported $3.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.57 by $0.10. Arthur J. Gallagher & Co. had a return on equity of 14.83% and a net margin of 14.39%. The firm had revenue of $3.69 billion for the quarter, compared to the consensus estimate of $3.85 billion. During the same period in the prior year, the firm earned $3.45 EPS. The firm's revenue was up 14.5% on a year-over-year basis. Research analysts predict that Arthur J. Gallagher & Co. will post 11.54 EPS for the current fiscal year.
Arthur J. Gallagher & Co. Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Friday, June 20th. Investors of record on Friday, June 6th were given a $0.65 dividend. This represents a $2.60 annualized dividend and a dividend yield of 0.83%. The ex-dividend date of this dividend was Friday, June 6th. Arthur J. Gallagher & Co.'s payout ratio is 37.63%.
Insider Activity at Arthur J. Gallagher & Co.
In other Arthur J. Gallagher & Co. news, VP Scott R. Hudson sold 10,500 shares of the stock in a transaction dated Wednesday, May 21st. The stock was sold at an average price of $337.17, for a total transaction of $3,540,285.00. Following the sale, 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director David S. Johnson sold 1,000 shares of the stock in a transaction dated Friday, May 16th. The stock was sold at an average price of $342.04, for a total value of $342,040.00. Following the sale, the director directly owned 45,323 shares in the company, valued at $15,502,278.92. This represents a 2.16% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 25,000 shares of company stock valued at $8,528,080 in the last ninety days. Company insiders own 1.30% of the company's stock.
Arthur J. Gallagher & Co. Company Profile
(
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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