Arthur J. Gallagher & Co. $AJG Position Cut by Mediolanum International Funds Ltd

Mediolanum International Funds Ltd lowered its position in shares of Arthur J. Gallagher & Co. (NYSE:AJG) by 14.0% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 36,574 shares of the financial services provider’s stock after selling 5,954 shares during the period. Mediolanum International Funds Ltd’s holdings in Arthur J. Gallagher & Co. were worth $7,898,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of the company. Norges Bank bought a new position in Arthur J. Gallagher & Co. in the 4th quarter worth about $1,925,062,000. T. Rowe Price Investment Management Inc. raised its holdings in shares of Arthur J. Gallagher & Co. by 123.5% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 5,887,538 shares of the financial services provider’s stock valued at $1,523,636,000 after buying an additional 3,253,498 shares during the last quarter. Northwestern Mutual Wealth Management Co. boosted its position in shares of Arthur J. Gallagher & Co. by 9,244.9% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 1,053,636 shares of the financial services provider’s stock worth $272,670,000 after buying an additional 1,042,361 shares during the period. Viking Global Investors LP bought a new position in Arthur J. Gallagher & Co. in the 4th quarter worth approximately $269,394,000. Finally, Dodge & Cox acquired a new stake in Arthur J. Gallagher & Co. in the 4th quarter valued at approximately $227,887,000. 85.53% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other 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 transaction, the chief accounting officer owned 47,819 shares in the company, valued at approximately $9,850,714. This trade represents a 5.90% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 1.40% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on AJG shares. Wells Fargo & Company boosted their price target on Arthur J. Gallagher & Co. from $271.00 to $299.00 and gave the stock an “overweight” rating in a research report on Thursday, July 9th. Piper Sandler raised Arthur J. Gallagher & Co. from a “neutral” rating to an “overweight” rating and raised their price target for the company from $225.00 to $276.00 in a report on Wednesday, July 15th. Jefferies Financial Group upgraded shares of Arthur J. Gallagher & Co. from a “hold” rating to a “buy” rating and lifted their price objective for the company from $235.00 to $265.00 in a research note on Thursday, June 11th. Morgan Stanley increased their target price on shares of Arthur J. Gallagher & Co. from $240.00 to $255.00 and gave the company an “overweight” rating in a research report on Monday, July 6th. Finally, Truist Financial lowered their target price on shares of Arthur J. Gallagher & Co. from $235.00 to $225.00 and set a “hold” rating on the stock in a research note on Friday, May 1st. Thirteen equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Arthur J. Gallagher & Co. presently has a consensus rating of “Moderate Buy” and an average price target of $280.35.

Arthur J. Gallagher & Co. Stock Performance

Shares of NYSE AJG opened at $253.77 on Tuesday. Arthur J. Gallagher & Co. has a 1 year low of $190.75 and a 1 year high of $315.48. The firm has a market cap of $65.19 billion, a P/E ratio of 41.06, a PEG ratio of 1.31 and a beta of 0.50. The stock has a fifty day moving average price of $222.45 and a two-hundred day moving average price of $225.35. 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. (NYSE:AJG) last posted its quarterly earnings data on Thursday, April 30th. The financial services provider reported $4.47 EPS for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $4.73 billion. During the same quarter in the previous year, the business earned $3.67 EPS. The company’s quarterly revenue was up 29.0% compared to the same quarter last year. Research analysts forecast that Arthur J. Gallagher & Co. will post 13.22 EPS for the current fiscal year.

Arthur J. Gallagher & Co. Announces Dividend

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