Oppenheimer & Co. Inc. Boosts Stake in Arthur J. Gallagher & Co. (NYSE:AJG)

Oppenheimer & Co. Inc. lifted its holdings in shares of Arthur J. Gallagher & Co. (NYSE:AJG) by 5.5% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 7,132 shares of the financial services provider’s stock after purchasing an additional 372 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in Arthur J. Gallagher & Co. were worth $1,849,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Capital International Investors boosted its stake in 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. Capital World Investors increased its holdings in Arthur J. Gallagher & Co. by 9.0% in the 1st quarter. Capital World Investors now owns 4,832,060 shares of the financial services provider’s stock valued at $1,208,208,000 after purchasing an additional 398,350 shares during the last quarter. WCM Investment Management LLC raised its position in Arthur J. Gallagher & Co. by 0.6% in the first quarter. WCM Investment Management LLC now owns 2,624,447 shares of the financial services provider’s stock valued at $656,217,000 after purchasing an additional 14,366 shares during the period. Boston Partners lifted its stake in Arthur J. Gallagher & Co. by 2.5% during the first quarter. Boston Partners now owns 1,611,299 shares of the financial services provider’s stock worth $402,206,000 after purchasing an additional 38,886 shares in the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in shares of Arthur J. Gallagher & Co. by 5.3% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,567,867 shares of the financial services provider’s stock worth $392,029,000 after buying an additional 79,271 shares during the period. 85.53% of the stock is owned by institutional investors and hedge funds.

Arthur J. Gallagher & Co. Trading Up 0.7 %

NYSE:AJG opened at $299.55 on Tuesday. The company has a market capitalization of $65.45 billion, a PE ratio of 60.64, a P/E/G ratio of 2.47 and a beta of 0.72. Arthur J. Gallagher & Co. has a 52-week low of $218.63 and a 52-week high of $301.04. The stock’s 50 day moving average price is $284.04 and its 200 day moving average price is $261.78. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.67.

Arthur J. Gallagher & Co. (NYSE:AJG) last announced its earnings results on Thursday, July 25th. The financial services provider reported $2.26 EPS for the quarter, beating analysts’ consensus estimates of $2.24 by $0.02. Arthur J. Gallagher & Co. had a net margin of 10.41% and a return on equity of 19.25%. The business had revenue of $2.73 billion for the quarter, compared to analysts’ expectations of $2.77 billion. During the same period in the previous year, the company posted $1.90 EPS. The company’s quarterly revenue was up 14.3% on a year-over-year basis. On average, research analysts anticipate that Arthur J. Gallagher & Co. will post 10.16 EPS for the current year.

Arthur J. Gallagher & Co. Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 20th. Investors of record on Friday, September 6th will be given a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 0.80%. The ex-dividend date is Friday, September 6th. Arthur J. Gallagher & Co.’s dividend payout ratio (DPR) is presently 48.58%.

Insider Buying and Selling at Arthur J. Gallagher & Co.

In other 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 transaction, the president now owns 329,099 shares of the company’s stock, valued at $93,121,853.04. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other news, General Counsel Walter D. Bay sold 6,335 shares of the stock in a transaction that occurred on Tuesday, July 30th. The stock was sold at an average price of $284.06, for a total transaction of $1,799,520.10. Following the completion of the transaction, the general counsel now directly owns 30,053 shares of the company’s stock, valued at approximately $8,536,855.18. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, President Thomas Joseph Gallagher sold 15,000 shares of the company’s stock in a transaction 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 transaction, the president now directly owns 329,099 shares in the company, valued at approximately $93,121,853.04. The disclosure for this sale can be found here. Insiders sold a total of 37,145 shares of company stock valued at $10,629,900 in the last ninety days. Insiders own 1.60% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. The Goldman Sachs Group increased their target price on Arthur J. Gallagher & Co. from $272.00 to $286.00 in a research note on Friday, July 26th. Piper Sandler lifted their price objective on shares of Arthur J. Gallagher & Co. from $252.00 to $254.00 and gave the company a “neutral” rating in a report on Friday, July 26th. Bank Of America (Bofa) increased their target price on shares of Arthur J. Gallagher & Co. from $255.00 to $265.00 and gave the stock an “underperform” rating in a report on Friday, July 26th. Keefe, Bruyette & Woods upped their price objective on 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. Finally, Bank of America lifted their target price on Arthur J. Gallagher & Co. from $233.00 to $255.00 and gave the company an “underperform” rating in a report on Wednesday, May 22nd. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $276.82.

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.