Arthur J. Gallagher & Co. (NYSE:AJG) Shares Acquired by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC increased its holdings in shares of Arthur J. Gallagher & Co. (NYSE:AJG) by 0.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 10,216 shares of the financial services provider’s stock after buying an additional 48 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Arthur J. Gallagher & Co. were worth $2,874,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in AJG. Compass Ion Advisors LLC grew its holdings in Arthur J. Gallagher & Co. by 10.5% in the third quarter. Compass Ion Advisors LLC now owns 3,308 shares of the financial services provider’s stock valued at $931,000 after purchasing an additional 315 shares during the period. New Century Financial Group LLC increased its holdings in shares of Arthur J. Gallagher & Co. by 5.7% during the 3rd quarter. New Century Financial Group LLC now owns 3,577 shares of the financial services provider’s stock worth $1,006,000 after buying an additional 194 shares during the last quarter. Chicago Capital LLC boosted its holdings in Arthur J. Gallagher & Co. by 2.2% in the third quarter. Chicago Capital LLC now owns 9,865 shares of the financial services provider’s stock valued at $2,776,000 after acquiring an additional 208 shares during the last quarter. Raymond James & Associates grew its position in Arthur J. Gallagher & Co. by 0.4% during the third quarter. Raymond James & Associates now owns 360,527 shares of the financial services provider’s stock valued at $101,441,000 after acquiring an additional 1,597 shares during the period. Finally, Friedenthal Financial purchased a new position in shares of Arthur J. Gallagher & Co. in the 3rd quarter worth about $759,000. Hedge funds and other institutional investors own 85.53% of the company’s stock.

Arthur J. Gallagher & Co. Stock Down 0.3 %

Arthur J. Gallagher & Co. stock opened at $285.12 on Wednesday. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.04 and a quick ratio of 1.04. Arthur J. Gallagher & Co. has a fifty-two week low of $218.63 and a fifty-two week high of $301.04. The firm has a fifty day moving average price of $289.15 and a two-hundred day moving average price of $270.23. The firm has a market cap of $62.30 billion, a price-to-earnings ratio of 57.72, a P/E/G ratio of 2.53 and a beta of 0.72.

Arthur J. Gallagher & Co. (NYSE:AJG) last issued its quarterly earnings results on Thursday, October 24th. The financial services provider reported $2.26 earnings per share for the quarter, meeting analysts’ consensus estimates of $2.26. The firm had revenue of $2.77 billion during the quarter, compared to the consensus estimate of $2.78 billion. Arthur J. Gallagher & Co. had a net margin of 10.41% and a return on equity of 19.25%. The business’s revenue was up 12.8% on a year-over-year basis. During the same period in the prior year, the firm earned $2.00 EPS. As a group, analysts forecast that Arthur J. Gallagher & Co. will post 10.11 earnings per share for the current year.

Arthur J. Gallagher & Co. Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Friday, December 6th will be given a $0.60 dividend. The ex-dividend date is Friday, December 6th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 0.84%. Arthur J. Gallagher & Co.’s dividend payout ratio is currently 48.58%.

Insider Transactions at Arthur J. Gallagher & Co.

In other Arthur J. Gallagher & Co. news, CFO Douglas K. Howell sold 7,000 shares of Arthur J. Gallagher & Co. stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $284.68, for a total transaction of $1,992,760.00. Following the sale, the chief financial officer now owns 75,963 shares in the company, valued at $21,625,146.84. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, President Michael Robert Pesch sold 7,100 shares of the firm’s stock in a transaction that occurred on 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 completion of the transaction, the president now owns 33,267 shares in the company, valued at $9,853,685.40. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Douglas K. Howell sold 7,000 shares of the company’s stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $284.68, for a total value of $1,992,760.00. Following the completion of the sale, the chief financial officer now owns 75,963 shares in the company, valued at $21,625,146.84. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 37,810 shares of company stock valued at $10,823,140. 1.60% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of analysts recently issued reports on AJG shares. 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 research report on Friday, July 26th. Barclays assumed coverage on shares of Arthur J. Gallagher & Co. in a research note on Wednesday, September 4th. They set an “equal weight” rating and a $300.00 price target on the stock. Piper Sandler increased their target price on Arthur J. Gallagher & Co. from $254.00 to $293.00 and gave the company a “neutral” rating in a research note on Friday, September 20th. TD Cowen boosted 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. Finally, Royal Bank of Canada boosted their price target on Arthur J. Gallagher & Co. from $310.00 to $320.00 and gave the company an “outperform” rating in a report on Friday, September 20th. Three analysts have rated the stock with a sell rating, seven have issued a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Arthur J. Gallagher & Co. has a consensus rating of “Hold” and an average target price of $287.00.

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.