Arthur J. Gallagher & Co. (NYSE:AJG) Position Raised by Public Sector Pension Investment Board

Public Sector Pension Investment Board lifted its position in shares of Arthur J. Gallagher & Co. (NYSE:AJG) by 9.1% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 37,007 shares of the financial services provider’s stock after acquiring an additional 3,089 shares during the period. Public Sector Pension Investment Board’s holdings in Arthur J. Gallagher & Co. were worth $9,596,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Fidelis Capital Partners LLC grew its holdings in Arthur J. Gallagher & Co. by 11.9% in the 2nd quarter. Fidelis Capital Partners LLC now owns 1,575 shares of the financial services provider’s stock worth $444,000 after buying an additional 167 shares in the last quarter. Mount Yale Investment Advisors LLC raised its stake in shares of Arthur J. Gallagher & Co. by 11.4% during the second quarter. Mount Yale Investment Advisors LLC now owns 1,776 shares of the financial services provider’s stock valued at $461,000 after purchasing an additional 182 shares in the last quarter. Frank Rimerman Advisors LLC bought a new position in Arthur J. Gallagher & Co. in the 2nd quarter valued at about $1,569,000. Prospector Partners LLC raised its position in shares of Arthur J. Gallagher & Co. by 0.6% during the 2nd quarter. Prospector Partners LLC now owns 80,707 shares of the financial services provider’s stock worth $20,928,000 after buying an additional 443 shares in the last quarter. Finally, ProShare Advisors LLC boosted its holdings in shares of Arthur J. Gallagher & Co. by 5.7% in the second quarter. ProShare Advisors LLC now owns 44,381 shares of the financial services provider’s stock valued at $11,508,000 after acquiring an additional 2,386 shares in the last quarter. 85.53% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages recently commented on AJG. Truist Financial boosted their target price on Arthur J. Gallagher & Co. from $265.00 to $275.00 and gave the stock a “hold” rating in a report on Friday. UBS Group lifted their target price on Arthur J. Gallagher & Co. from $260.00 to $292.00 and gave the stock a “neutral” rating in a report on Wednesday, July 31st. Piper Sandler upped their price target on shares of Arthur J. Gallagher & Co. from $254.00 to $293.00 and gave the company a “neutral” rating in a report on Friday. Bank Of America (Bofa) boosted 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. Finally, BMO Capital Markets raised their target price 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. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, Arthur J. Gallagher & Co. presently has an average rating of “Hold” and a consensus target price of $282.93.

Arthur J. Gallagher & Co. Price Performance

Shares of AJG opened at $281.93 on Tuesday. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.04 and a current ratio of 1.04. The firm has a market cap of $61.60 billion, a PE ratio of 57.07, a PEG ratio of 2.47 and a beta of 0.72. The firm’s 50 day moving average price is $285.71 and its 200 day moving average price is $263.17. Arthur J. Gallagher & Co. has a twelve month low of $218.63 and a twelve 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 for the quarter, beating the consensus estimate of $2.24 by $0.02. The company had revenue of $2.73 billion for 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 business’s revenue was up 14.3% compared to the same quarter last year. During the same period last year, the company earned $1.90 earnings per share. As a group, research analysts expect that Arthur J. Gallagher & Co. will post 10.16 EPS for the current fiscal year.

Arthur J. Gallagher & Co. Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 20th. Stockholders of record on Friday, September 6th were given a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 0.85%. The ex-dividend date was Friday, September 6th. Arthur J. Gallagher & Co.’s dividend payout ratio is 48.58%.

Insider Transactions at Arthur J. Gallagher & Co.

In other Arthur J. Gallagher & Co. news, General Counsel Walter D. Bay sold 6,335 shares of the stock in a transaction on Tuesday, July 30th. The shares were sold at an average price of $284.06, for a total value of $1,799,520.10. Following the completion of the sale, 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 legal filing with the SEC, which is available through the SEC website. In related news, President Thomas Joseph Gallagher sold 15,000 shares of the business’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 sale, the president now 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 SEC, which is available through this link. Also, General Counsel Walter D. Bay sold 6,335 shares of the company’s stock in a transaction dated 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 sale, the general counsel now directly owns 30,053 shares in the company, valued at $8,536,855.18. The disclosure for this sale can be found here. Over the last three months, insiders sold 44,145 shares of company stock worth $12,622,660. 1.60% of the stock is owned by insiders.

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.