New Age Alpha Advisors LLC Purchases 17,431 Shares of Arthur J. Gallagher & Co. (NYSE:AJG)

Key Points

• New Age Alpha Advisors LLC significantly increased its stake in Arthur J. Gallagher & Co. by 15,991.7% in the first quarter, bringing its holdings to 17,540 shares valued at approximately $6.06 million.
• Insiders, including VP Scott R. Hudson, sold 25,000 shares of the company's stock in the past three months, reducing their ownership but retaining a substantial stake.
• Arthur J. Gallagher & Co. has announced a quarterly dividend of $0.65 per share, with a yield of 0.9%, scheduled for payment on September 19th to shareholders of record as of September 5th.

New Age Alpha Advisors LLC increased its stake in Arthur J. Gallagher & Co. (NYSE:AJG - Free Report) by 15,991.7% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 17,540 shares of the financial services provider's stock after purchasing an additional 17,431 shares during the quarter. New Age Alpha Advisors LLC's holdings in Arthur J. Gallagher & Co. were worth $6,056,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Capital International Investors lifted its stake in shares of Arthur J. Gallagher & Co. by 3.1% during the 4th quarter. Capital International Investors now owns 10,067,647 shares of the financial services provider's stock valued at $2,857,737,000 after buying an additional 305,876 shares in the last quarter. Capital World Investors increased its holdings in shares of Arthur J. Gallagher & Co. by 30.4% in the 4th quarter. Capital World Investors now owns 8,199,413 shares of the financial services provider's stock worth $2,327,403,000 after buying an additional 1,910,471 shares during the last quarter. Brown Advisory Inc. grew its holdings in Arthur J. Gallagher & Co. by 9.7% during the 4th quarter. Brown Advisory Inc. now owns 2,957,633 shares of the financial services provider's stock valued at $839,524,000 after purchasing an additional 260,533 shares during the last quarter. Winslow Capital Management LLC bought a new position in Arthur J. Gallagher & Co. during the 4th quarter valued at about $719,489,000. Finally, Northern Trust Corp grew its holdings in Arthur J. Gallagher & Co. by 25.6% during the 4th quarter. Northern Trust Corp now owns 2,355,301 shares of the financial services provider's stock valued at $668,552,000 after purchasing an additional 480,193 shares during the last quarter. Hedge funds and other institutional investors own 85.53% of the company's stock.

Arthur J. Gallagher & Co. Stock Performance

Shares of AJG traded up $3.65 during mid-day trading 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 firm has a market capitalization of $74.33 billion, a PE ratio of 41.18 and a beta of 0.68. Arthur J. Gallagher & Co. has a one year low of $274.25 and a one year high of $351.23. The stock's 50-day moving average is $314.73 and its two-hundred day moving average is $322.47. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.44 and a current ratio of 1.36.

Arthur J. Gallagher & Co. (NYSE:AJG - Get Free Report) last announced its 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 during the quarter, compared to analyst estimates of $3.20 billion. Arthur J. Gallagher & Co. had a net margin of 14.54% and a return on equity of 13.17%. The business's quarterly revenue was up 16.0% compared to the same quarter last year. During the same quarter last year, the business posted $2.29 earnings per share. As a group, sell-side analysts anticipate that Arthur J. Gallagher & Co. will post 11.54 EPS for the current year.

Arthur J. Gallagher & Co. Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 19th. Stockholders of record on Friday, September 5th will be paid 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 dividend payout ratio is currently 36.93%.

Insider Transactions at Arthur J. Gallagher & Co.

In related news, VP Scott R. Hudson sold 10,500 shares of the business's stock in a transaction that occurred on 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 transaction, the vice president directly owned 91,175 shares of the company's stock, valued at approximately $30,741,474.75. The trade was a 10.33% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Susan E. Pietrucha sold 13,500 shares of the company's stock in a transaction on Monday, May 19th. The shares were sold at an average price of $344.13, for a total value of $4,645,755.00. Following the sale, the insider owned 11,941 shares of the company's stock, valued at approximately $4,109,256.33. The trade was a 53.06% 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 worth $8,528,080 in the last 90 days. Corporate insiders own 1.60% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have commented on AJG shares. Keefe, Bruyette & Woods upped their target price on shares of 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. 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 for the company in a research report on Friday, April 11th. Piper Sandler raised their price target on shares of Arthur J. Gallagher & Co. from $352.00 to $372.00 and gave the stock an "overweight" rating in a report on Friday, August 1st. Wells Fargo & Company increased their price objective on shares of Arthur J. Gallagher & Co. from $371.00 to $373.00 and gave the stock an "overweight" rating in a research note on Friday, August 1st. Finally, Barclays dropped their price target on shares of Arthur J. Gallagher & Co. from $346.00 to $327.00 and set an "equal weight" rating on the stock in a research report on Monday, July 7th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, Arthur J. Gallagher & Co. 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.