Arthur J. Gallagher & Co. (NYSE:AJG) Stake Raised by Smithbridge Asset Management Inc. DE

Smithbridge Asset Management Inc. DE lifted its holdings in shares of Arthur J. Gallagher & Co. (NYSE:AJG) by 1.4% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 43,987 shares of the financial services provider’s stock after purchasing an additional 592 shares during the quarter. Arthur J. Gallagher & Co. comprises approximately 2.4% of Smithbridge Asset Management Inc. DE’s investment portfolio, making the stock its 8th biggest position. Smithbridge Asset Management Inc. DE’s holdings in Arthur J. Gallagher & Co. were worth $11,406,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of AJG. Norges Bank purchased a new position in Arthur J. Gallagher & Co. during the fourth quarter worth about $1,308,316,000. Brown Advisory Inc. boosted its position in shares of Arthur J. Gallagher & Co. by 1,210.9% during the 4th quarter. Brown Advisory Inc. now owns 1,383,480 shares of the financial services provider’s stock worth $311,117,000 after purchasing an additional 1,277,945 shares during the period. Capital World Investors raised its position in Arthur J. Gallagher & Co. by 24.9% in the fourth quarter. Capital World Investors now owns 4,433,710 shares of the financial services provider’s stock valued at $997,053,000 after purchasing an additional 884,394 shares during the period. Janus Henderson Group PLC lifted its stake in Arthur J. Gallagher & Co. by 180.6% during the first quarter. Janus Henderson Group PLC now owns 1,228,266 shares of the financial services provider’s stock worth $307,076,000 after purchasing an additional 790,467 shares in the last quarter. Finally, Capital International Investors boosted its position in shares of Arthur J. Gallagher & Co. by 7.0% during the first quarter. Capital International Investors now owns 11,050,941 shares of the financial services provider’s stock worth $2,763,177,000 after buying an additional 727,325 shares during the period. 85.53% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Arthur J. Gallagher & Co.

In other Arthur J. Gallagher & Co. news, President Thomas Joseph Gallagher sold 15,000 shares of the business’s stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $282.96, for a total value of $4,244,400.00. Following the completion of the sale, the president now owns 329,099 shares in the company, valued at $93,121,853.04. The sale was disclosed in a document filed with the SEC, which is available through this link. In other Arthur J. Gallagher & Co. news, President Thomas Joseph Gallagher sold 15,000 shares of the firm’s stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $282.96, for a total transaction of $4,244,400.00. Following the transaction, the president now directly owns 329,099 shares of the company’s stock, valued at approximately $93,121,853.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Douglas K. Howell sold 8,710 shares of the company’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $285.07, for a total transaction of $2,482,959.70. Following the completion of the sale, the chief financial officer now directly owns 75,963 shares of the company’s stock, valued at $21,654,772.41. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 49,998 shares of company stock worth $13,767,866. Corporate insiders own 1.60% of the company’s stock.

Arthur J. Gallagher & Co. Stock Up 0.2 %

Shares of NYSE AJG traded up $0.68 during midday trading on Friday, hitting $285.08. 774,860 shares of the company’s stock were exchanged, compared to its average volume of 844,038. The firm’s fifty day simple moving average is $270.46 and its 200-day simple moving average is $253.67. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.04 and a quick ratio of 1.05. The company has a market cap of $62.29 billion, a PE ratio of 57.71, a P/E/G ratio of 2.41 and a beta of 0.72. Arthur J. Gallagher & Co. has a twelve month low of $215.37 and a twelve month high of $290.31.

Arthur J. Gallagher & Co. (NYSE:AJG) last issued its quarterly earnings data on Thursday, July 25th. The financial services provider reported $2.26 earnings per share for the quarter, topping the consensus estimate of $2.24 by $0.02. The business had revenue of $2.73 billion during the quarter, compared to the consensus estimate of $2.77 billion. Arthur J. Gallagher & Co. had a net margin of 10.41% and a return on equity of 19.25%. The company’s revenue was up 14.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.90 EPS. Research analysts predict that Arthur J. Gallagher & Co. will post 10.15 EPS for the current fiscal year.

Arthur J. Gallagher & Co. Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 20th. Shareholders of record on Friday, September 6th will be issued a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 0.84%. The ex-dividend date is Friday, September 6th. Arthur J. Gallagher & Co.’s payout ratio is 48.58%.

Analyst Ratings Changes

Several equities analysts recently issued reports on AJG shares. Truist Financial increased their target price on Arthur J. Gallagher & Co. from $255.00 to $265.00 and gave the stock a “hold” rating in a research note on Friday, July 26th. Keefe, Bruyette & Woods increased their price target on shares of Arthur J. Gallagher & Co. from $241.00 to $252.00 and gave the stock an “underperform” rating in a research report on Friday, July 26th. Bank Of America (Bofa) lifted their price objective on shares of Arthur J. Gallagher & Co. from $255.00 to $265.00 and gave the company an “underperform” rating in a report on Friday, July 26th. Piper Sandler increased their target price on shares of Arthur J. Gallagher & Co. from $252.00 to $254.00 and gave the stock a “neutral” rating in a report on Friday, July 26th. Finally, TD Cowen boosted their price target on shares of Arthur J. Gallagher & Co. from $273.00 to $288.00 and gave the stock a “hold” rating in a research note on Tuesday, August 13th. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $275.38.

Arthur J. Gallagher & Co. Company Profile

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 entities and individuals 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.