Hsbc Holdings PLC Buys 111,685 Shares of Arthur J. Gallagher & Co. (NYSE:AJG)

Hsbc Holdings PLC lifted its stake in Arthur J. Gallagher & Co. (NYSE:AJG) by 34.3% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 437,442 shares of the financial services provider’s stock after buying an additional 111,685 shares during the period. Hsbc Holdings PLC owned about 0.20% of Arthur J. Gallagher & Co. worth $113,478,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in AJG. Gilbert & Cook Inc. lifted its stake in shares of Arthur J. Gallagher & Co. by 5.0% in the fourth quarter. Gilbert & Cook Inc. now owns 5,398 shares of the financial services provider’s stock valued at $1,214,000 after buying an additional 259 shares during the period. Jump Financial LLC acquired a new stake in Arthur J. Gallagher & Co. during the fourth quarter valued at approximately $551,000. Janney Montgomery Scott LLC boosted its holdings in Arthur J. Gallagher & Co. by 4.5% during the fourth quarter. Janney Montgomery Scott LLC now owns 22,412 shares of the financial services provider’s stock valued at $5,040,000 after purchasing an additional 967 shares in the last quarter. Dynamic Technology Lab Private Ltd acquired a new stake in Arthur J. Gallagher & Co. during the fourth quarter valued at approximately $264,000. Finally, PNC Financial Services Group Inc. boosted its holdings in Arthur J. Gallagher & Co. by 1.0% during the fourth quarter. PNC Financial Services Group Inc. now owns 57,686 shares of the financial services provider’s stock valued at $12,972,000 after purchasing an additional 576 shares in the last quarter. Institutional investors own 85.53% of the company’s stock.

Analyst Upgrades and Downgrades

AJG has been the topic of a number of recent research reports. UBS Group lifted their price objective on Arthur J. Gallagher & Co. from $260.00 to $292.00 and gave the company a “neutral” rating in a report on Wednesday, July 31st. Truist Financial lifted their price objective on Arthur J. Gallagher & Co. from $255.00 to $265.00 and gave the company a “hold” rating in a report on Friday, July 26th. TD Cowen lifted their price objective on Arthur J. Gallagher & Co. from $273.00 to $288.00 and gave the company a “hold” rating in a report on Tuesday, August 13th. Piper Sandler lifted their price objective on Arthur J. Gallagher & Co. from $252.00 to $254.00 and gave the company a “neutral” rating in a report on Friday, July 26th. Finally, The Goldman Sachs Group boosted their target price on Arthur J. Gallagher & Co. from $272.00 to $286.00 in a report on Friday, July 26th. Three analysts have rated the stock with a sell rating, eight have issued a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, Arthur J. Gallagher & Co. has an average rating of “Hold” and an average price target of $277.56.

Arthur J. Gallagher & Co. Stock Performance

AJG stock opened at $291.18 on Thursday. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.04 and a quick ratio of 1.04. The company has a 50 day moving average price of $285.14 and a 200 day moving average price of $262.35. Arthur J. Gallagher & Co. has a fifty-two week low of $218.63 and a fifty-two week high of $301.04. The stock has a market capitalization 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.

Arthur J. Gallagher & Co. (NYSE:AJG) last posted 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. Arthur J. Gallagher & Co. had a net margin of 10.41% and a return on equity of 19.25%. The firm had revenue of $2.73 billion during the quarter, compared to analysts’ expectations of $2.77 billion. During the same quarter in the previous year, the company posted $1.90 EPS. Arthur J. Gallagher & Co.’s revenue was up 14.3% on a year-over-year basis. Analysts forecast that Arthur J. Gallagher & Co. will post 10.16 EPS for the current year.

Arthur J. Gallagher & Co. Announces Dividend

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

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

In other Arthur J. Gallagher & Co. news, General Counsel Walter D. Bay sold 6,335 shares of the company’s stock in a transaction on Tuesday, July 30th. The shares were sold at an average price of $284.06, for a total transaction of $1,799,520.10. Following the completion of the sale, the general counsel now owns 30,053 shares in the company, valued at approximately $8,536,855.18. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CFO Douglas K. Howell sold 8,710 shares of the company’s stock in a transaction on 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 sale, the chief financial officer now owns 75,963 shares in the company, valued at approximately $21,654,772.41. The transaction was disclosed in a 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 on Tuesday, July 30th. The shares were sold at an average price of $284.06, for a total transaction of $1,799,520.10. Following the completion of the sale, the general counsel now owns 30,053 shares of the company’s stock, valued at approximately $8,536,855.18. The disclosure for this sale can be found here. In the last 90 days, insiders sold 37,145 shares of company stock worth $10,629,900. Insiders own 1.60% of the company’s stock.

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.