ProShare Advisors LLC Buys 2,386 Shares of Arthur J. Gallagher & Co. (NYSE:AJG)

ProShare Advisors LLC increased its stake in shares of Arthur J. Gallagher & Co. (NYSE:AJG) by 5.7% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 44,381 shares of the financial services provider’s stock after purchasing an additional 2,386 shares during the period. ProShare Advisors LLC’s holdings in Arthur J. Gallagher & Co. were worth $11,508,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the stock. Legacy Financial Advisors Inc. lifted its holdings in shares of Arthur J. Gallagher & Co. by 11.4% in the second quarter. Legacy Financial Advisors Inc. now owns 910 shares of the financial services provider’s stock worth $236,000 after buying an additional 93 shares in the last quarter. Summit Trail Advisors LLC purchased a new position in shares of Arthur J. Gallagher & Co. during the 2nd quarter valued at $208,000. Sei Investments Co. raised its position in shares of Arthur J. Gallagher & Co. by 3.1% in the second quarter. Sei Investments Co. now owns 200,571 shares of the financial services provider’s stock worth $52,012,000 after buying an additional 6,003 shares in the last quarter. AE Wealth Management LLC boosted its stake in Arthur J. Gallagher & Co. by 439.7% during the second quarter. AE Wealth Management LLC now owns 9,100 shares of the financial services provider’s stock valued at $2,360,000 after buying an additional 7,414 shares during the period. Finally, Canada Pension Plan Investment Board increased its stake in Arthur J. Gallagher & Co. by 3.2% in the 2nd quarter. Canada Pension Plan Investment Board now owns 63,539 shares of the financial services provider’s stock worth $16,476,000 after acquiring an additional 1,972 shares during the last quarter. Institutional investors own 85.53% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently commented on the company. Piper Sandler boosted their price objective on Arthur J. Gallagher & Co. from $254.00 to $293.00 and gave the stock a “neutral” rating in a report on Friday. Bank Of America (Bofa) increased their price target 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. BMO Capital Markets lifted 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 increased their target price on Arthur J. Gallagher & Co. from $265.00 to $275.00 and gave the company a “hold” rating in a research note on Friday. Finally, 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 report on Friday, July 26th. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $282.93.

Arthur J. Gallagher & Co. Price Performance

AJG stock opened at $281.93 on Tuesday. The stock has a market capitalization of $61.60 billion, a price-to-earnings 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 two-hundred day moving average price is $263.17. The company has a current ratio of 1.04, a quick 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 released its quarterly 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. The business 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%. Arthur J. Gallagher & Co.’s quarterly revenue was up 14.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.90 EPS. As a group, equities analysts predict that Arthur J. Gallagher & Co. will post 10.16 earnings per share for the current year.

Arthur J. Gallagher & Co. Dividend Announcement

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

Insiders Place Their Bets

In other news, CFO Douglas K. Howell sold 8,710 shares of Arthur J. Gallagher & Co. stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $285.07, for a total transaction of $2,482,959.70. Following the sale, the chief financial officer now owns 75,963 shares of the company’s stock, valued at approximately $21,654,772.41. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, President Thomas Joseph Gallagher sold 15,000 shares of Arthur J. Gallagher & Co. stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $282.96, for a total transaction of $4,244,400.00. Following the sale, the president now directly owns 329,099 shares in the company, valued at $93,121,853.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Douglas K. Howell sold 8,710 shares of the stock in a transaction on Thursday, August 1st. The stock was 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 owns 75,963 shares of the company’s stock, valued at approximately $21,654,772.41. The disclosure for this sale can be found here. In the last ninety days, insiders sold 44,145 shares of company stock worth $12,622,660. 1.60% of the stock is currently owned by corporate insiders.

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.