Andra AP fonden Sells 25,853 Shares of Arthur J. Gallagher & Co. $AJG

Andra AP fonden cut its stake in Arthur J. Gallagher & Co. (NYSE:AJG) by 67.7% in the 1st quarter, HoldingsChannel.com reports. The firm owned 12,347 shares of the financial services provider’s stock after selling 25,853 shares during the quarter. Andra AP fonden’s holdings in Arthur J. Gallagher & Co. were worth $2,674,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the stock. Kemnay Advisory Services Inc. bought a new position in Arthur J. Gallagher & Co. during the 4th quarter valued at $26,000. Cassaday & Co Wealth Management LLC bought a new stake in Arthur J. Gallagher & Co. in the 1st quarter worth about $29,000. MV Capital Management Inc. purchased a new stake in Arthur J. Gallagher & Co. in the 4th quarter valued at about $34,000. Rakuten Securities Inc. lifted its position in shares of Arthur J. Gallagher & Co. by 650.0% during the 2nd quarter. Rakuten Securities Inc. now owns 105 shares of the financial services provider’s stock worth $34,000 after buying an additional 91 shares in the last quarter. Finally, Avalon Trust Co bought a new position in shares of Arthur J. Gallagher & Co. during the 1st quarter worth approximately $40,000. Hedge funds and other institutional investors own 85.53% of the company’s stock.

Insider Activity

In related news, CAO Richard C. Cary sold 3,000 shares of the company’s stock in a transaction that occurred on Tuesday, June 2nd. The shares were sold at an average price of $206.00, for a total transaction of $618,000.00. Following the sale, the chief accounting officer owned 47,819 shares of the company’s stock, valued at approximately $9,850,714. This represents a 5.90% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 1.40% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have weighed in on AJG. Citigroup raised Arthur J. Gallagher & Co. from a “neutral” rating to a “buy” rating and cut their price objective for the stock from $280.00 to $250.00 in a research report on Wednesday, May 6th. Keefe, Bruyette & Woods raised their target price on Arthur J. Gallagher & Co. from $242.00 to $261.00 and gave the company a “market perform” rating in a research report on Wednesday, July 8th. Weiss Ratings upgraded Arthur J. Gallagher & Co. from a “hold (c-)” rating to a “hold (c)” rating in a research note on Monday, July 13th. Mizuho boosted their price target on shares of Arthur J. Gallagher & Co. from $261.00 to $287.00 and gave the stock an “outperform” rating in a report on Thursday, July 9th. Finally, Truist Financial reduced their price target on shares of Arthur J. Gallagher & Co. from $235.00 to $225.00 and set a “hold” rating for the company in a research report on Friday, May 1st. Thirteen analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $280.35.

Arthur J. Gallagher & Co. Price Performance

NYSE AJG opened at $242.69 on Thursday. The company has a market cap of $62.35 billion, a PE ratio of 39.27, a price-to-earnings-growth ratio of 1.29 and a beta of 0.50. Arthur J. Gallagher & Co. has a 52 week low of $190.75 and a 52 week high of $315.48. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.51. The firm’s 50-day simple moving average is $224.47 and its two-hundred day simple moving average is $225.15.

Arthur J. Gallagher & Co. (NYSE:AJG) last posted its earnings results on Thursday, April 30th. The financial services provider reported $4.47 earnings per share for the quarter, topping the consensus estimate of $4.43 by $0.04. Arthur J. Gallagher & Co. had a net margin of 10.76% and a return on equity of 12.83%. The firm had revenue of $4.71 billion during the quarter, compared to the consensus estimate of $4.73 billion. During the same quarter last year, the company earned $3.67 earnings per share. The company’s revenue was up 29.0% on a year-over-year basis. Research analysts predict that Arthur J. Gallagher & Co. will post 13.22 earnings per share for the current year.

Arthur J. Gallagher & Co. Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 19th. Stockholders of record on Friday, June 5th were issued a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date of this dividend was Friday, June 5th. Arthur J. Gallagher & Co.’s dividend payout ratio (DPR) is presently 45.31%.

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.