S Bank Fund Management Ltd acquired a new position in Arthur J. Gallagher & Co. (NYSE:AJG - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 1,370 shares of the financial services provider's stock, valued at approximately $473,000.
Other institutional investors also recently modified their holdings of the company. CWA Asset Management Group LLC grew its stake in shares of Arthur J. Gallagher & Co. by 22.5% in the first quarter. CWA Asset Management Group LLC now owns 1,125 shares of the financial services provider's stock worth $388,000 after purchasing an additional 207 shares during the last quarter. Two Sigma Investments LP acquired a new position in Arthur J. Gallagher & Co. in the fourth quarter valued at $382,000. Golden State Wealth Management LLC lifted its holdings in Arthur J. Gallagher & Co. by 2,750.0% in the first quarter. Golden State Wealth Management LLC now owns 114 shares of the financial services provider's stock valued at $39,000 after buying an additional 110 shares during the period. Allspring Global Investments Holdings LLC lifted its holdings in Arthur J. Gallagher & Co. by 0.7% in the first quarter. Allspring Global Investments Holdings LLC now owns 11,280 shares of the financial services provider's stock valued at $3,879,000 after buying an additional 82 shares during the period. Finally, Seven Grand Managers LLC acquired a new position in Arthur J. Gallagher & Co. in the fourth quarter valued at $7,096,000. Institutional investors own 85.53% of the company's stock.
Wall Street Analysts Forecast Growth
Several equities analysts recently issued reports on AJG shares. Wells Fargo & Company boosted their target price on shares of Arthur J. Gallagher & Co. from $371.00 to $373.00 and gave the company an "overweight" rating in a report on Friday, August 1st. Citigroup initiated coverage on shares of Arthur J. Gallagher & Co. in a report on Wednesday. They issued a "neutral" rating and a $317.00 target price on the stock. Piper Sandler upped their price objective on shares of Arthur J. Gallagher & Co. from $352.00 to $372.00 and gave the company an "overweight" rating in a report on Friday, August 1st. Erste Group Bank reiterated a "hold" rating on shares of Arthur J. Gallagher & Co. in a report on Wednesday, July 23rd. Finally, Cantor Fitzgerald upgraded shares of Arthur J. Gallagher & Co. to a "strong-buy" rating in a report on Wednesday. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $331.07.
Check Out Our Latest Analysis on Arthur J. Gallagher & Co.
Insiders Place Their Bets
In other Arthur J. Gallagher & Co. news, VP Scott R. Hudson sold 10,500 shares of the firm's 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 sale, the vice president owned 91,175 shares of the company's stock, valued at $30,741,474.75. This trade represents a 10.33% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Susan E. Pietrucha sold 13,500 shares of the firm's 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 completion of the sale, the insider directly owned 11,941 shares in the company, valued at approximately $4,109,256.33. This trade represents a 53.06% decrease in their position. The disclosure for this sale can be found here. 1.60% of the stock is owned by company insiders.
Arthur J. Gallagher & Co. Trading Down 0.3%
NYSE:AJG traded down $0.79 during trading hours on Friday, reaching $292.62. The company's stock had a trading volume of 1,237,379 shares, compared to its average volume of 1,665,758. The firm has a market capitalization of $75.03 billion, a price-to-earnings ratio of 41.57 and a beta of 0.68. The firm has a 50-day simple moving average of $308.01 and a 200-day simple moving average of $322.58. Arthur J. Gallagher & Co. has a 1 year low of $274.25 and a 1 year high of $351.23. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.36 and a current ratio of 1.36.
Arthur J. Gallagher & Co. (NYSE:AJG - Get Free Report) last issued its 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). The business had revenue of $3.18 billion during the quarter, compared to analysts' expectations of $3.20 billion. Arthur J. Gallagher & Co. had a return on equity of 13.17% and a net margin of 14.54%. Arthur J. Gallagher & Co.'s revenue for the quarter was up 16.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.29 EPS. Research analysts expect that Arthur J. Gallagher & Co. will post 11.54 EPS for the current fiscal year.
Arthur J. Gallagher & Co. Dividend Announcement
The company 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. This represents a $2.60 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date of this dividend is Friday, September 5th. Arthur J. Gallagher & Co.'s dividend payout ratio (DPR) is 36.93%.
About Arthur J. Gallagher & Co.
(
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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