Arthur J. Gallagher & Co. $AJG Stake Lessened by Strs Ohio

Strs Ohio trimmed its stake in shares of Arthur J. Gallagher & Co. (NYSE:AJG) by 4.3% during the first quarter, HoldingsChannel reports. The fund owned 73,867 shares of the financial services provider’s stock after selling 3,349 shares during the quarter. Strs Ohio’s holdings in Arthur J. Gallagher & Co. were worth $15,998,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Kemnay Advisory Services Inc. acquired a new stake in shares of Arthur J. Gallagher & Co. in the 4th quarter valued at about $26,000. MV Capital Management Inc. bought a new stake in Arthur J. Gallagher & Co. in the fourth quarter valued at about $34,000. Rakuten Securities Inc. raised its stake in Arthur J. Gallagher & Co. by 650.0% during the second quarter. Rakuten Securities Inc. now owns 105 shares of the financial services provider’s stock valued at $34,000 after buying an additional 91 shares in the last quarter. Financial Life Planners bought a new position in Arthur J. Gallagher & Co. during the 3rd quarter worth approximately $39,000. Finally, Prosperity Bancshares Inc bought a new position in Arthur J. Gallagher & Co. during the 4th quarter worth approximately $42,000. Institutional investors own 85.53% of the company’s stock.

Insider Transactions at Arthur J. Gallagher & Co.

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on AJG shares. BMO Capital Markets upgraded Arthur J. Gallagher & Co. from a “market perform” rating to an “outperform” rating and boosted their price target for the company from $275.00 to $278.00 in a report on Tuesday, March 24th. Wells Fargo & Company reduced their price objective on Arthur J. Gallagher & Co. from $273.00 to $266.00 and set an “overweight” rating on the stock in a research note on Thursday, April 9th. Truist Financial lowered their target price on shares of Arthur J. Gallagher & Co. from $235.00 to $225.00 and set a “hold” rating for the company in a research note on Friday, May 1st. Barclays raised their price target on shares of Arthur J. Gallagher & Co. from $262.00 to $275.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 8th. Finally, Citigroup raised shares of Arthur J. Gallagher & Co. from a “neutral” rating to a “buy” rating and lowered their price objective for the company from $280.00 to $250.00 in a research report on Wednesday, May 6th. Thirteen investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $264.12.

Arthur J. Gallagher & Co. Stock Performance

AJG stock opened at $252.60 on Friday. The stock’s fifty day moving average is $212.23 and its two-hundred day moving average is $225.84. The stock has a market capitalization of $64.89 billion, a price-to-earnings ratio of 40.87, a PEG ratio of 1.28 and a beta of 0.50. 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 1 year low of $190.75 and a 1 year high of $319.25.

Arthur J. Gallagher & Co. (NYSE:AJG) last issued its quarterly earnings data on Thursday, April 30th. The financial services provider reported $4.47 earnings per share for the quarter, beating the consensus estimate of $4.43 by $0.04. The firm had revenue of $4.71 billion for the quarter, compared to the consensus estimate of $4.73 billion. Arthur J. Gallagher & Co. had a net margin of 10.76% and a return on equity of 12.83%. Arthur J. Gallagher & Co.’s quarterly revenue was up 29.0% compared to the same quarter last year. During the same period last year, the firm posted $3.67 EPS. On average, research analysts predict that Arthur J. Gallagher & Co. will post 13.23 EPS for the current year.

Arthur J. Gallagher & Co. Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 19th. Stockholders of record on Friday, June 5th were given a dividend of $0.70 per share. The ex-dividend date was Friday, June 5th. This represents a $2.80 annualized dividend and a dividend yield of 1.1%. Arthur J. Gallagher & Co.’s payout ratio is currently 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.