State of Alaska Department of Revenue Acquires 1,885 Shares of Arthur J. Gallagher & Co. (NYSE:AJG)

State of Alaska Department of Revenue increased its position in shares of Arthur J. Gallagher & Co. (NYSE:AJG - Free Report) by 3.8% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 51,682 shares of the financial services provider's stock after buying an additional 1,885 shares during the quarter. State of Alaska Department of Revenue's holdings in Arthur J. Gallagher & Co. were worth $17,842,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC grew its position in Arthur J. Gallagher & Co. by 9.6% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 11,198 shares of the financial services provider's stock valued at $3,089,000 after purchasing an additional 982 shares during the period. Principal Securities Inc. grew its holdings in shares of Arthur J. Gallagher & Co. by 29.5% during the fourth quarter. Principal Securities Inc. now owns 11,317 shares of the financial services provider's stock valued at $3,212,000 after buying an additional 2,576 shares during the last quarter. Allworth Financial LP increased its position in shares of Arthur J. Gallagher & Co. by 25.9% during the fourth quarter. Allworth Financial LP now owns 3,710 shares of the financial services provider's stock worth $1,089,000 after acquiring an additional 763 shares in the last quarter. Csenge Advisory Group raised its holdings in shares of Arthur J. Gallagher & Co. by 5.4% in the 4th quarter. Csenge Advisory Group now owns 2,714 shares of the financial services provider's stock worth $770,000 after acquiring an additional 140 shares during the last quarter. Finally, Catalyst Capital Advisors LLC bought a new position in Arthur J. Gallagher & Co. in the 4th quarter valued at about $103,000. Institutional investors own 85.53% of the company's stock.

Arthur J. Gallagher & Co. Stock Performance

Arthur J. Gallagher & Co. stock traded up $1.07 during trading on Thursday, hitting $317.20. The stock had a trading volume of 1,048,840 shares, compared to its average volume of 1,344,446. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 0.56. The stock's 50 day moving average is $331.32 and its two-hundred day moving average is $317.26. Arthur J. Gallagher & Co. has a 1 year low of $251.42 and a 1 year high of $351.23. The stock has a market cap of $81.24 billion, a price-to-earnings ratio of 45.90 and a beta of 0.74.

Arthur J. Gallagher & Co. (NYSE:AJG - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The financial services provider reported $3.67 earnings per share for the quarter, topping the consensus estimate of $3.57 by $0.10. Arthur J. Gallagher & Co. had a return on equity of 14.83% and a net margin of 14.39%. The company had revenue of $3.69 billion during the quarter, compared to the consensus estimate of $3.85 billion. During the same quarter in the prior year, the company earned $3.45 EPS. The firm's quarterly revenue was up 14.5% compared to the same quarter last year. As a group, analysts predict that Arthur J. Gallagher & Co. will post 11.54 EPS for the current year.

Arthur J. Gallagher & Co. Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 20th. Stockholders of record on Friday, June 6th will be paid a $0.65 dividend. The ex-dividend date of this dividend is Friday, June 6th. This represents a $2.60 annualized dividend and a dividend yield of 0.82%. Arthur J. Gallagher & Co.'s payout ratio is 37.63%.

Insider Activity

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 completion of the transaction, the director now owns 45,323 shares in the company, valued at $15,502,278.92. This trade represents a 2.16% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Susan E. Pietrucha sold 13,500 shares of the business's stock in a transaction that occurred on Monday, May 19th. The shares were sold at an average price of $344.13, for a total transaction of $4,645,755.00. Following the transaction, the insider now directly owns 11,941 shares of the company's stock, valued at approximately $4,109,256.33. This represents a 53.06% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 32,510 shares of company stock valued at $11,033,341 over the last quarter. Company insiders own 1.60% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on AJG shares. Barclays lifted their target price on Arthur J. Gallagher & Co. from $308.00 to $346.00 and gave the company an "equal weight" rating in a research report on Friday, April 11th. Jefferies Financial Group dropped 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. Redburn Atlantic began coverage on shares of Arthur J. Gallagher & Co. in a research note on Tuesday, March 25th. They issued a "neutral" rating and a $352.00 target price for the company. Wells Fargo & Company cut their price target on shares of Arthur J. Gallagher & Co. from $372.00 to $371.00 and set an "overweight" rating on the stock in a report on Monday, June 9th. Finally, Keefe, Bruyette & Woods increased their price objective on shares of Arthur J. Gallagher & Co. from $315.00 to $326.00 and gave the company a "market perform" rating in a research note on Thursday, June 5th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $319.29.

Arthur J. Gallagher & Co. Company 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.