iA Global Asset Management Inc. Purchases Shares of 28,780 Arthur J. Gallagher & Co. (NYSE:AJG)

Key Points

• iA Global Asset Management Inc. has invested approximately $9.94 million in Arthur J. Gallagher & Co. by acquiring 28,780 shares in the first quarter.
• Several institutional investors, including Atria Wealth Solutions and New Age Alpha Advisors, have significantly increased their holdings in Arthur J. Gallagher & Co. during the same period.
• Arthur J. Gallagher & Co. has announced a quarterly dividend of $0.65, with a dividend yield of 0.9%, set to be paid on September 19th.

iA Global Asset Management Inc. purchased a new position in shares of Arthur J. Gallagher & Co. (NYSE:AJG - Free Report) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 28,780 shares of the financial services provider's stock, valued at approximately $9,936,000.

A number of other institutional investors also recently bought and sold shares of the business. HWG Holdings LP purchased a new position in shares of Arthur J. Gallagher & Co. during the first quarter worth about $25,000. Centennial Bank AR purchased a new position in shares of Arthur J. Gallagher & Co. in the 1st quarter valued at approximately $38,000. Motco increased its holdings in shares of Arthur J. Gallagher & Co. by 700.0% in the first quarter. Motco now owns 112 shares of the financial services provider's stock valued at $39,000 after purchasing an additional 98 shares during the period. Johnson Financial Group Inc. increased its stake in 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 buying an additional 76 shares during the period. Finally, Golden State Wealth Management LLC lifted its stake in shares of Arthur J. Gallagher & Co. by 2,750.0% in 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. 85.53% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Arthur J. Gallagher & Co.

In other Arthur J. Gallagher & Co. news, insider Susan E. Pietrucha sold 13,500 shares of the stock in a transaction 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 transaction, the insider owned 11,941 shares of the company's stock, valued at $4,109,256.33. This represents a 53.06% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, VP Scott R. Hudson sold 10,500 shares of Arthur J. Gallagher & Co. stock in a transaction 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 completion of the sale, the vice president directly owned 91,175 shares of the company's stock, valued at approximately $30,741,474.75. This represents a 10.33% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 25,000 shares of company stock worth $8,528,080 over the last ninety days. 1.60% of the stock is currently owned by corporate insiders.

Arthur J. Gallagher & Co. Price Performance

Shares of AJG stock traded up $3.65 during trading hours on Thursday, hitting $289.91. The company's stock had a trading volume of 3,115,967 shares, compared to its average volume of 1,499,937. The company has a current ratio of 1.36, a quick ratio of 1.44 and a debt-to-equity ratio of 0.52. The business has a fifty day moving average of $314.73 and a 200-day moving average of $322.47. Arthur J. Gallagher & Co. has a twelve month low of $274.25 and a twelve month high of $351.23. The stock has a market cap of $74.33 billion, a price-to-earnings ratio of 41.18 and a beta of 0.68.

Arthur J. Gallagher & Co. (NYSE:AJG - Get Free Report) last released 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 company had revenue of $3.18 billion during 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%. The business's revenue was up 16.0% compared to the same quarter last year. During the same period last year, the firm earned $2.29 earnings per share. As a group, equities research analysts anticipate that Arthur J. Gallagher & Co. will post 11.54 EPS for the current year.

Arthur J. Gallagher & Co. Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, September 19th. Stockholders of record on Friday, September 5th will be issued a dividend of $0.65 per share. The ex-dividend date is Friday, September 5th. This represents a $2.60 dividend on an annualized basis and a dividend yield of 0.9%. Arthur J. Gallagher & Co.'s payout ratio is 36.93%.

Analysts Set New Price Targets

AJG has been the subject of a number of recent analyst reports. Erste Group Bank restated a "hold" rating on shares of Arthur J. Gallagher & Co. in a research report on Wednesday, July 23rd. 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. UBS Group decreased their price target on Arthur J. Gallagher & Co. from $345.00 to $322.00 and set a "neutral" rating on the stock in a research note on Monday. Keefe, Bruyette & Woods increased their price objective on Arthur J. Gallagher & Co. from $326.00 to $330.00 and gave the stock a "market perform" rating in a research report on Wednesday, July 9th. Finally, Jefferies Financial Group decreased their target price on shares of Arthur J. Gallagher & Co. from $266.00 to $265.00 and set a "hold" rating on the stock in a research report on Friday, April 11th. One analyst has rated the stock with a sell rating, eight have given a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $329.15.

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.