Burgundy Asset Management Ltd. Buys 8,130 Shares of Arthur J. Gallagher & Co. (NYSE:AJG)

Burgundy Asset Management Ltd. raised its stake in Arthur J. Gallagher & Co. (NYSE:AJG) by 1.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 564,651 shares of the financial services provider’s stock after acquiring an additional 8,130 shares during the period. Arthur J. Gallagher & Co. comprises about 1.5% of Burgundy Asset Management Ltd.’s investment portfolio, making the stock its 27th largest position. Burgundy Asset Management Ltd. owned 0.26% of Arthur J. Gallagher & Co. worth $146,420,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently bought and sold shares of AJG. Mark Sheptoff Financial Planning LLC bought a new stake in shares of Arthur J. Gallagher & Co. in the 2nd quarter worth about $26,000. Hsbc Holdings PLC grew its stake in Arthur J. Gallagher & Co. by 34.3% during the second quarter. Hsbc Holdings PLC now owns 437,442 shares of the financial services provider’s stock worth $113,478,000 after buying an additional 111,685 shares during the last quarter. Blair William & Co. IL increased its holdings in shares of Arthur J. Gallagher & Co. by 1.0% during the second quarter. Blair William & Co. IL now owns 87,560 shares of the financial services provider’s stock worth $22,705,000 after buying an additional 892 shares in the last quarter. Marsico Capital Management LLC raised its stake in shares of Arthur J. Gallagher & Co. by 316.9% in the second quarter. Marsico Capital Management LLC now owns 11,447 shares of the financial services provider’s stock valued at $2,968,000 after acquiring an additional 8,701 shares during the last quarter. Finally, Vanguard Personalized Indexing Management LLC boosted its holdings in shares of Arthur J. Gallagher & Co. by 8.5% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 18,467 shares of the financial services provider’s stock worth $4,786,000 after acquiring an additional 1,451 shares in the last quarter. 85.53% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have issued reports on AJG. Barclays assumed coverage on Arthur J. Gallagher & Co. in a research report on Wednesday, September 4th. They issued an “equal weight” rating and a $300.00 price objective for the company. Jefferies Financial Group lifted their price target on Arthur J. Gallagher & Co. from $264.00 to $267.00 in a report on Friday, July 26th. BMO Capital Markets increased their price objective on shares of Arthur J. Gallagher & Co. from $275.00 to $295.00 and gave the stock an “outperform” rating in a report on Friday, July 26th. Truist Financial boosted their target price on shares of 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. Finally, TD Cowen increased their price target on shares of Arthur J. Gallagher & Co. from $273.00 to $288.00 and gave the company a “hold” rating in a research note on Tuesday, August 13th. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, Arthur J. Gallagher & Co. currently has a consensus rating of “Hold” and a consensus target price of $277.56.

Insiders Place Their Bets

In other news, President Michael Robert Pesch sold 7,100 shares of the business’s stock in a transaction on Friday, September 13th. The shares were sold at an average price of $296.20, for a total value of $2,103,020.00. Following the completion of the transaction, the president now owns 33,267 shares of the company’s stock, valued at approximately $9,853,685.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Arthur J. Gallagher & Co. news, President Michael Robert Pesch sold 7,100 shares of Arthur J. Gallagher & Co. stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $296.20, for a total transaction of $2,103,020.00. Following the transaction, the president now directly owns 33,267 shares in the company, valued at $9,853,685.40. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Douglas K. Howell sold 8,710 shares of the business’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $285.07, for a total value of $2,482,959.70. Following the completion of the transaction, 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 three months, insiders have sold 37,145 shares of company stock worth $10,629,900. Company insiders own 1.60% of the company’s stock.

Arthur J. Gallagher & Co. Stock Down 1.6 %

Shares of Arthur J. Gallagher & Co. stock opened at $291.18 on Thursday. The business has a fifty day simple moving average of $285.14 and a 200 day simple moving average of $262.35. The stock has a market cap of $63.62 billion, a PE ratio of 58.94, a price-to-earnings-growth ratio of 2.47 and a beta of 0.72. 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. has a 12 month low of $218.63 and a 12 month high of $301.04.

Arthur J. Gallagher & Co. (NYSE:AJG) last posted its earnings results on Thursday, July 25th. The financial services provider reported $2.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.24 by $0.02. The company had revenue of $2.73 billion during the quarter, compared to analyst estimates of $2.77 billion. Arthur J. Gallagher & Co. had a return on equity of 19.25% and a net margin of 10.41%. The company’s revenue for the quarter was up 14.3% compared to the same quarter last year. During the same period in the previous year, the company earned $1.90 EPS. Research analysts predict that Arthur J. Gallagher & Co. will post 10.16 EPS for the current year.

Arthur J. Gallagher & Co. Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 20th. Shareholders of record on Friday, September 6th will be paid a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 0.82%. The ex-dividend date is Friday, September 6th. Arthur J. Gallagher & Co.’s payout ratio is presently 48.58%.

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 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.