Allspring Global Investments Holdings LLC Lowers Position in Arthur J. Gallagher & Co. (NYSE:AJG)

Allspring Global Investments Holdings LLC lowered its holdings in Arthur J. Gallagher & Co. (NYSE:AJG) by 77.1% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 10,389 shares of the financial services provider’s stock after selling 34,957 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Arthur J. Gallagher & Co. were worth $2,598,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. UBS Group AG raised its holdings in shares of Arthur J. Gallagher & Co. by 8.5% in the 4th quarter. UBS Group AG now owns 361,441 shares of the financial services provider’s stock valued at $81,281,000 after acquiring an additional 28,359 shares in the last quarter. McGlone Suttner Wealth Management Inc. raised its holdings in shares of Arthur J. Gallagher & Co. by 4.0% in the 4th quarter. McGlone Suttner Wealth Management Inc. now owns 2,286 shares of the financial services provider’s stock valued at $514,000 after acquiring an additional 88 shares in the last quarter. Brookstone Capital Management raised its holdings in shares of Arthur J. Gallagher & Co. by 70.4% during the 1st quarter. Brookstone Capital Management now owns 12,851 shares of the financial services provider’s stock valued at $3,213,000 after buying an additional 5,308 shares in the last quarter. Mackenzie Financial Corp raised its holdings in shares of Arthur J. Gallagher & Co. by 16.1% during the 4th quarter. Mackenzie Financial Corp now owns 112,087 shares of the financial services provider’s stock valued at $25,206,000 after buying an additional 15,528 shares in the last quarter. Finally, Nomura Holdings Inc. purchased a new position in shares of Arthur J. Gallagher & Co. during the 4th quarter valued at about $979,000. Hedge funds and other institutional investors own 85.53% of the company’s stock.

Arthur J. Gallagher & Co. Price Performance

Shares of AJG stock opened at $261.93 on Wednesday. The firm has a market cap of $57.23 billion, a P/E ratio of 53.02, a P/E/G ratio of 2.32 and a beta of 0.72. Arthur J. Gallagher & Co. has a fifty-two week low of $212.39 and a fifty-two week high of $266.39. The business’s 50 day moving average price is $251.52 and its 200-day moving average price is $242.76. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.05 and a current ratio of 1.05.

Arthur J. Gallagher & Co. (NYSE:AJG) last issued its quarterly earnings data on Thursday, April 25th. The financial services provider reported $3.49 earnings per share for the quarter, topping analysts’ consensus estimates of $3.41 by $0.08. Arthur J. Gallagher & Co. had a return on equity of 18.94% and a net margin of 10.27%. The firm had revenue of $3.22 billion for the quarter, compared to analyst estimates of $3.18 billion. During the same period last year, the company earned $3.03 EPS. The business’s quarterly revenue was up 20.4% compared to the same quarter last year. On average, equities research analysts anticipate that Arthur J. Gallagher & Co. will post 10.09 earnings per share for the current year.

Arthur J. Gallagher & Co. Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 21st. Investors of record on Friday, June 7th were given a dividend of $0.60 per share. The ex-dividend date of this dividend was Friday, June 7th. This represents a $2.40 annualized dividend and a dividend yield of 0.92%. Arthur J. Gallagher & Co.’s dividend payout ratio is presently 48.58%.

Insider Activity at Arthur J. Gallagher & Co.

In related news, General Counsel Walter D. Bay sold 8,717 shares of Arthur J. Gallagher & Co. stock in a transaction that occurred on Friday, May 17th. The stock was sold at an average price of $257.00, for a total transaction of $2,240,269.00. Following the sale, the general counsel now directly owns 44,691 shares in the company, valued at $11,485,587. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Arthur J. Gallagher & Co. news, General Counsel Walter D. Bay sold 8,717 shares of the business’s stock in a transaction on Friday, May 17th. The stock was sold at an average price of $257.00, for a total value of $2,240,269.00. Following the sale, the general counsel now directly owns 44,691 shares of the company’s stock, valued at $11,485,587. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, General Counsel Walter D. Bay sold 800 shares of the business’s stock in a transaction on Monday, May 20th. The stock was sold at an average price of $257.24, for a total value of $205,792.00. Following the completion of the sale, the general counsel now directly owns 44,691 shares in the company, valued at $11,496,312.84. The disclosure for this sale can be found here. Insiders have sold 53,165 shares of company stock worth $13,629,049 over the last ninety days. 1.60% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on AJG. Piper Sandler decreased their price objective on Arthur J. Gallagher & Co. from $253.00 to $252.00 and set a “neutral” rating on the stock in a report on Monday, April 29th. Argus raised their price objective on Arthur J. Gallagher & Co. from $264.00 to $270.00 and gave the company a “buy” rating in a report on Tuesday, May 14th. Wells Fargo & Company raised their price objective on Arthur J. Gallagher & Co. from $274.00 to $282.00 and gave the company an “overweight” rating in a report on Wednesday, June 26th. Truist Financial reaffirmed a “hold” rating and issued a $255.00 price target (down from $280.00) on shares of Arthur J. Gallagher & Co. in a research note on Wednesday, April 10th. Finally, TD Cowen lifted their price target on Arthur J. Gallagher & Co. from $249.00 to $273.00 and gave the stock a “hold” rating in a research note on Tuesday, April 2nd. Two analysts have rated the stock with a sell rating, six have issued a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $263.00.

Arthur J. Gallagher & Co. 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.