James Investment Research Inc. lessened its holdings in Arthur J. Gallagher & Co. (NYSE:AJG - Free Report) by 39.4% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 14,534 shares of the financial services provider's stock after selling 9,437 shares during the quarter. James Investment Research Inc.'s holdings in Arthur J. Gallagher & Co. were worth $3,148,000 as of its most recent SEC filing.
Other large investors have also added to or reduced their stakes in the company. Norges Bank bought a new stake in Arthur J. Gallagher & Co. during the 4th quarter worth about $1,925,062,000. T. Rowe Price Investment Management Inc. increased its position in shares of Arthur J. Gallagher & Co. by 123.5% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 5,887,538 shares of the financial services provider's stock valued at $1,523,636,000 after acquiring an additional 3,253,498 shares during the last quarter. Northwestern Mutual Wealth Management Co. raised its holdings in Arthur J. Gallagher & Co. by 9,244.9% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 1,053,636 shares of the financial services provider's stock worth $272,670,000 after acquiring an additional 1,042,361 shares in the last quarter. Viking Global Investors LP acquired a new position in Arthur J. Gallagher & Co. during the fourth quarter valued at approximately $269,394,000. Finally, Dodge & Cox bought a new position in Arthur J. Gallagher & Co. in the fourth quarter valued at approximately $227,887,000. Institutional investors and hedge funds own 85.53% of the company's stock.
Wall Street Analysts Forecast Growth
Several research firms have weighed in on AJG. Barclays boosted their price target on Arthur J. Gallagher & Co. from $262.00 to $275.00 and gave the stock an "overweight" rating in a research report on Wednesday, April 8th. Morgan Stanley lowered their target price on shares of Arthur J. Gallagher & Co. from $265.00 to $240.00 and set an "overweight" rating on the stock in a report on Thursday, May 21st. Truist Financial cut their price target on shares of Arthur J. Gallagher & Co. from $235.00 to $225.00 and set a "hold" rating for the company in a research note on Friday, May 1st. Royal Bank Of Canada assumed coverage on shares of Arthur J. Gallagher & Co. in a research note on Tuesday, March 17th. They set an "outperform" rating and a $260.00 price objective on the stock. Finally, Keefe, Bruyette & Woods upped their target price on shares of Arthur J. Gallagher & Co. from $235.00 to $242.00 and gave the company a "market perform" rating in a report on Thursday, June 18th. Thirteen analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $264.12.
View Our Latest Stock Analysis on Arthur J. Gallagher & Co.
Insider Activity at Arthur J. Gallagher & Co.
In other news, CAO Richard C. Cary sold 3,000 shares of the stock in a transaction that occurred on Tuesday, June 2nd. The stock was sold at an average price of $206.00, for a total transaction of $618,000.00. Following the transaction, the chief accounting officer owned 47,819 shares in the company, valued at approximately $9,850,714. This trade represents a 5.90% 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. Insiders own 1.40% of the company's stock.
Arthur J. Gallagher & Co. Trading Up 4.2%
Shares of Arthur J. Gallagher & Co. stock opened at $239.16 on Thursday. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.06 and a quick ratio of 1.06. The business has a fifty day simple moving average of $211.04 and a two-hundred day simple moving average of $225.67. Arthur J. Gallagher & Co. has a 1 year low of $190.75 and a 1 year high of $320.00. The company has a market capitalization of $61.44 billion, a price-to-earnings ratio of 38.70, a P/E/G ratio of 1.17 and a beta of 0.50.
Arthur J. Gallagher & Co. (NYSE:AJG - Get Free Report) last issued its quarterly earnings data on Thursday, April 30th. The financial services provider reported $4.47 earnings per share for the quarter, beating the consensus estimate of $4.43 by $0.04. The company had revenue of $4.71 billion for the quarter, compared to analyst estimates of $4.73 billion. Arthur J. Gallagher & Co. had a net margin of 10.76% and a return on equity of 12.83%. The company's revenue was up 29.0% on a year-over-year basis. During the same period in the prior year, the firm earned $3.67 earnings per share. Research analysts forecast that Arthur J. Gallagher & Co. will post 13.23 EPS for the current year.
Arthur J. Gallagher & Co. Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Friday, June 19th. Stockholders of record on Friday, June 5th were issued a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date was Friday, June 5th. Arthur J. Gallagher & Co.'s payout ratio is currently 45.31%.
Arthur J. Gallagher & Co. Company Profile
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Free Report)
Arthur J. Gallagher & Co is a global insurance brokerage and risk management firm headquartered in Rolling Meadows, Illinois. Founded in 1927 by Arthur J. Gallagher, the company has grown from a regional broker into an international professional services organization that arranges insurance, provides consulting and designs risk-transfer solutions for commercial, industrial, public sector and individual clients.
The company's core activities include property and casualty insurance brokerage, employee benefits consulting and administration, and a range of risk management services.
Further Reading
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