Mesirow Financial Investment Management Inc. Invests $543,000 in Arthur J. Gallagher & Co. (NYSE:AJG)

Key Points

• Mesirow Financial Investment Management Inc. has invested approximately $543,000 in Arthur J. Gallagher & Co., acquiring 1,572 shares of the company in the first quarter.
• A significant number of institutional investors, including Vestcor Inc. and Harvest Fund Management Co. Ltd, have recently adjusted their stakes in Arthur J. Gallagher & Co., reflecting a trend of increased investment interest.
• Arthur J. Gallagher & Co. has declared a quarterly dividend of $0.65, with an annualized yield of 0.9%, scheduled to be paid on September 19th.

Mesirow Financial Investment Management Inc. bought a new stake in Arthur J. Gallagher & Co. (NYSE:AJG - Free Report) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 1,572 shares of the financial services provider's stock, valued at approximately $543,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. HWG Holdings LP bought a new stake in shares of Arthur J. Gallagher & Co. during the first quarter worth about $25,000. New Age Alpha Advisors LLC grew its holdings in shares of Arthur J. Gallagher & Co. by 81.7% during the fourth quarter. New Age Alpha Advisors LLC now owns 109 shares of the financial services provider's stock worth $31,000 after purchasing an additional 49 shares during the last quarter. Centennial Bank AR bought a new stake in shares of Arthur J. Gallagher & Co. during the first quarter worth about $38,000. Motco grew its holdings in shares of Arthur J. Gallagher & Co. by 700.0% during the first quarter. Motco now owns 112 shares of the financial services provider's stock worth $39,000 after purchasing an additional 98 shares during the last quarter. Finally, Johnson Financial Group Inc. grew its holdings in shares of Arthur J. Gallagher & Co. by 205.4% during the fourth quarter. Johnson Financial Group Inc. now owns 113 shares of the financial services provider's stock worth $34,000 after purchasing an additional 76 shares during the last quarter. Institutional investors own 85.53% of the company's stock.

Arthur J. Gallagher & Co. Stock Down 1.1%

Arthur J. Gallagher & Co. stock traded down $3.19 during trading on Friday, hitting $284.06. 2,787,751 shares of the company were exchanged, compared to its average volume of 1,318,036. The business's 50 day moving average is $318.00 and its 200 day moving average is $322.63. Arthur J. Gallagher & Co. has a 52 week low of $274.25 and a 52 week high of $351.23. The company has a market capitalization of $72.75 billion, a P/E ratio of 40.35 and a beta of 0.71. The company has a current ratio of 1.44, a quick ratio of 1.44 and a debt-to-equity ratio of 0.56.

Arthur J. Gallagher & Co. (NYSE:AJG - Get Free Report) last issued its quarterly earnings results on Thursday, July 31st. The financial services provider reported $2.33 EPS for the quarter, missing analysts' consensus estimates of $2.36 by ($0.03). Arthur J. Gallagher & Co. had a net margin of 14.54% and a return on equity of 14.04%. The firm had revenue of $3.18 billion for the quarter, compared to analysts' expectations of $3.20 billion. During the same period in the prior year, the company earned $2.29 EPS. The firm's quarterly revenue was up 16.0% on a year-over-year basis. Analysts predict that Arthur J. Gallagher & Co. will post 11.54 earnings per share for the current year.

Arthur J. Gallagher & Co. Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 19th. Shareholders of record on Friday, September 5th will be issued a $0.65 dividend. The ex-dividend date of this dividend is 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 (DPR) is presently 36.93%.

Insider Buying and Selling at Arthur J. Gallagher & Co.

In other Arthur J. Gallagher & Co. news, Director David S. Johnson sold 1,000 shares of the firm's 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 owned 45,323 shares of the company's stock, valued at $15,502,278.92. This trade represents a 2.16% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Scott R. Hudson sold 10,500 shares of the firm's stock in a transaction dated 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 in the company, valued at approximately $30,741,474.75. This represents a 10.33% 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 90 days. Corporate insiders own 1.60% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. Piper Sandler lifted their price objective on Arthur J. Gallagher & Co. from $352.00 to $372.00 and gave the stock an "overweight" rating in a research note on Friday. Keefe, Bruyette & Woods lifted 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 note on Wednesday, July 9th. Barclays cut their price objective on Arthur J. Gallagher & Co. from $346.00 to $327.00 and set an "equal weight" rating on the stock in a research note on Monday, July 7th. Wells Fargo & Company lifted their price objective on Arthur J. Gallagher & Co. from $371.00 to $373.00 and gave the stock an "overweight" rating in a research note on Friday. Finally, Jefferies Financial Group cut their price objective on Arthur J. Gallagher & Co. from $266.00 to $265.00 and set a "hold" rating on the stock in a research note on Friday, April 11th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have given a buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $329.75.

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.