Ilmarinen Mutual Pension Insurance Co lifted its stake in shares of Arthur J. Gallagher & Co. (NYSE:AJG – Free Report) by 25.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 59,500 shares of the financial services provider’s stock after acquiring an additional 12,000 shares during the quarter. Ilmarinen Mutual Pension Insurance Co’s holdings in Arthur J. Gallagher & Co. were worth $11,383,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds have also modified their holdings of AJG. U.S. Capital Wealth Advisors LLC grew its position in shares of Arthur J. Gallagher & Co. by 7.5% during the first quarter. U.S. Capital Wealth Advisors LLC now owns 1,287 shares of the financial services provider’s stock worth $225,000 after buying an additional 90 shares in the last quarter. Canada Pension Plan Investment Board raised its holdings in shares of Arthur J. Gallagher & Co. by 49.0% in the 1st quarter. Canada Pension Plan Investment Board now owns 5,300 shares of the financial services provider’s stock valued at $925,000 after purchasing an additional 1,744 shares in the last quarter. Prudential PLC purchased a new stake in shares of Arthur J. Gallagher & Co. during the 1st quarter worth $838,000. Sequoia Financial Advisors LLC grew its stake in shares of Arthur J. Gallagher & Co. by 37.7% during the first quarter. Sequoia Financial Advisors LLC now owns 2,532 shares of the financial services provider’s stock worth $442,000 after purchasing an additional 693 shares in the last quarter. Finally, Candriam Luxembourg S.C.A. increased its holdings in Arthur J. Gallagher & Co. by 25.0% in the first quarter. Candriam Luxembourg S.C.A. now owns 11,184 shares of the financial services provider’s stock valued at $1,953,000 after buying an additional 2,235 shares during the last quarter. 81.15% of the stock is currently owned by institutional investors and hedge funds.
Analyst Ratings Changes
Several research analysts have recently issued reports on AJG shares. UBS Group upped their price objective on Arthur J. Gallagher & Co. from $212.00 to $220.00 in a research report on Friday, June 16th. Wells Fargo & Company boosted their price objective on shares of Arthur J. Gallagher & Co. from $233.00 to $237.00 and gave the stock an “overweight” rating in a research report on Friday, July 28th. Raymond James upped their target price on shares of Arthur J. Gallagher & Co. from $245.00 to $255.00 and gave the company a “strong-buy” rating in a report on Tuesday, August 1st. Evercore ISI lifted their price target on shares of Arthur J. Gallagher & Co. from $231.00 to $233.00 in a research note on Friday, June 16th. Finally, VNET Group restated a “maintains” rating on shares of Arthur J. Gallagher & Co. in a research note on Tuesday, May 23rd. Four analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Arthur J. Gallagher & Co. presently has a consensus rating of “Moderate Buy” and an average target price of $231.54.
Arthur J. Gallagher & Co. Price Performance
Arthur J. Gallagher & Co. stock opened at $230.28 on Wednesday. The business has a 50 day simple moving average of $222.04 and a 200-day simple moving average of $209.07. Arthur J. Gallagher & Co. has a 12 month low of $167.93 and a 12 month high of $232.41. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.04 and a quick ratio of 1.04. The stock has a market capitalization of $49.63 billion, a PE ratio of 44.89, a price-to-earnings-growth ratio of 2.16 and a beta of 0.69.
Arthur J. Gallagher & Co. (NYSE:AJG – Get Free Report) last posted its quarterly earnings results on Thursday, July 27th. The financial services provider reported $1.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.86 by $0.04. The firm had revenue of $2.44 billion during the quarter, compared to analysts’ expectations of $2.36 billion. Arthur J. Gallagher & Co. had a net margin of 12.11% and a return on equity of 18.65%. The firm’s revenue for the quarter was up 19.5% on a year-over-year basis. During the same period in the prior year, the company posted $1.70 earnings per share. Equities analysts predict that Arthur J. Gallagher & Co. will post 8.75 earnings per share for the current year.
Arthur J. Gallagher & Co. Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Friday, September 1st will be given a $0.55 dividend. This represents a $2.20 annualized dividend and a yield of 0.96%. The ex-dividend date is Thursday, August 31st. Arthur J. Gallagher & Co.’s payout ratio is 42.88%.
Insider Buying and Selling at Arthur J. Gallagher & Co.
In other Arthur J. Gallagher & Co. news, VP Christopher E. Mead sold 3,300 shares of the company’s stock in a transaction on Friday, August 25th. The stock was sold at an average price of $226.14, for a total value of $746,262.00. Following the sale, the vice president now owns 10,816 shares of the company’s stock, valued at $2,445,930.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CFO Douglas K. Howell sold 4,588 shares of Arthur J. Gallagher & Co. stock in a transaction dated Monday, August 28th. The stock was sold at an average price of $228.92, for a total transaction of $1,050,284.96. Following the completion of the sale, the chief financial officer now owns 127,942 shares in the company, valued at approximately $29,288,482.64. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Christopher E. Mead sold 3,300 shares of the business’s stock in a transaction that occurred on Friday, August 25th. The shares were sold at an average price of $226.14, for a total transaction of $746,262.00. Following the completion of the transaction, the vice president now directly owns 10,816 shares of the company’s stock, valued at approximately $2,445,930.24. The disclosure for this sale can be found here. Over the last quarter, insiders sold 38,888 shares of company stock valued at $8,792,647. 1.60% of the stock is owned by company insiders.
About Arthur J. Gallagher & Co.
Arthur J. Gallagher & Co, together with its subsidiaries, provides insurance and reinsurance brokerage, consulting, and third-party property/casualty claims settlement and administration services to businesses and organizations worldwide. It operates in Brokerage and Risk Management segments. The Brokerage segment offers retail and wholesale insurance and reinsurance brokerage services; assists retail brokers and other non-affiliated brokers in the placement of specialized and hard-to-place insurance; and acts as a brokerage wholesaler, managing general agent, and managing general underwriter for distributing specialized insurance coverages to underwriting enterprises.
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