Arthur J. Gallagher & Co. $AJG Shares Purchased by Fisher Funds Management LTD

Fisher Funds Management LTD increased its stake in Arthur J. Gallagher & Co. (NYSE:AJG) by 50.3% in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 207,219 shares of the financial services provider’s stock after acquiring an additional 69,379 shares during the quarter. Arthur J. Gallagher & Co. makes up about 1.3% of Fisher Funds Management LTD’s portfolio, making the stock its 22nd biggest holding. Fisher Funds Management LTD’s holdings in Arthur J. Gallagher & Co. were worth $44,879,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. ARS Investment Partners LLC lifted its stake in Arthur J. Gallagher & Co. by 15.0% in the 1st quarter. ARS Investment Partners LLC now owns 95,135 shares of the financial services provider’s stock valued at $20,604,000 after buying an additional 12,381 shares in the last quarter. Rockefeller Capital Management L.P. raised its holdings in shares of Arthur J. Gallagher & Co. by 5.9% during the fourth quarter. Rockefeller Capital Management L.P. now owns 29,873 shares of the financial services provider’s stock valued at $7,731,000 after acquiring an additional 1,654 shares during the last quarter. World Investment Advisors lifted its position in shares of Arthur J. Gallagher & Co. by 79.6% in the fourth quarter. World Investment Advisors now owns 7,506 shares of the financial services provider’s stock valued at $1,942,000 after acquiring an additional 3,326 shares in the last quarter. Corient Private Wealth LLC lifted its position in shares of Arthur J. Gallagher & Co. by 125.5% in the fourth quarter. Corient Private Wealth LLC now owns 98,193 shares of the financial services provider’s stock valued at $25,431,000 after acquiring an additional 54,639 shares in the last quarter. Finally, Bayban acquired a new stake in shares of Arthur J. Gallagher & Co. in the fourth quarter worth approximately $518,000. 85.53% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the company. UBS Group reissued a “buy” rating on shares of Arthur J. Gallagher & Co. in a research note on Thursday. Morgan Stanley dropped their target price on shares of Arthur J. Gallagher & Co. from $265.00 to $240.00 and set an “overweight” rating for the company in a report on Thursday, May 21st. Weiss Ratings reiterated a “hold (c-)” rating on shares of Arthur J. Gallagher & Co. in a research report on Monday, June 15th. Mizuho decreased their price target on shares of Arthur J. Gallagher & Co. from $260.00 to $259.00 and set an “outperform” rating on the stock in a research note on Monday, April 13th. Finally, Piper Sandler dropped their price objective on shares of Arthur J. Gallagher & Co. from $226.00 to $211.00 and set a “neutral” rating for the company in a research note on Friday, May 1st. Thirteen analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $264.12.

Arthur J. Gallagher & Co. Stock Performance

Shares of Arthur J. Gallagher & Co. stock opened at $214.45 on Monday. The business’s 50 day moving average price is $210.65 and its 200 day moving average price is $226.76. The company has a market cap of $55.09 billion, a price-to-earnings ratio of 34.70, a PEG ratio of 1.09 and a beta of 0.53. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.06 and a current ratio of 1.06. Arthur J. Gallagher & Co. has a one year low of $190.75 and a one year high of $327.34.

Arthur J. Gallagher & Co. (NYSE:AJG) last issued its earnings results on Thursday, April 30th. The financial services provider reported $4.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.43 by $0.04. Arthur J. Gallagher & Co. had a return on equity of 12.83% and a net margin of 10.76%.The company had revenue of $4.71 billion during the quarter, compared to analysts’ expectations of $4.73 billion. During the same period in the prior year, the business earned $3.67 EPS. The firm’s quarterly revenue was up 29.0% on a year-over-year basis. On average, research analysts predict that Arthur J. Gallagher & Co. will post 13.24 EPS for the current year.

Arthur J. Gallagher & Co. Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 19th. Investors of record on Friday, June 5th were issued a $0.70 dividend. The ex-dividend date of this dividend was Friday, June 5th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 1.3%. Arthur J. Gallagher & Co.’s dividend payout ratio is currently 45.31%.

Insider Transactions at Arthur J. Gallagher & Co.

In related news, CAO Richard C. Cary sold 3,000 shares of the firm’s stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of $206.00, for a total transaction of $618,000.00. Following the completion of the sale, the chief accounting officer directly owned 47,819 shares in the company, valued at approximately $9,850,714. This trade represents a 5.90% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.40% of the company’s stock.

Arthur J. Gallagher & Co. Company Profile

Arthur J. Gallagher & Co is a global insurance brokerage and risk management firm headquartered in Rolling Meadows, Illinois. Founded in 1927 by Arthur J. Gallagher, the company has grown from a regional broker into an international professional services organization that arranges insurance, provides consulting and designs risk-transfer solutions for commercial, industrial, public sector and individual clients.

The company’s core activities include property and casualty insurance brokerage, employee benefits consulting and administration, and a range of risk management services.