Arthur J. Gallagher & Co. $AJG Stock: Retirement Systems of Alabama Grows Holdings

Retirement Systems of Alabama boosted its holdings in shares of Arthur J. Gallagher & Co. (NYSE:AJG) by 27.2% during the 3rd quarter, Holdings Channel.com reports. The fund owned 254,812 shares of the financial services provider’s stock after purchasing an additional 54,454 shares during the period. Retirement Systems of Alabama’s holdings in Arthur J. Gallagher & Co. were worth $59,327,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Fulcrum Asset Management LLP increased its stake in shares of Arthur J. Gallagher & Co. by 11.0% during the 3rd quarter. Fulcrum Asset Management LLP now owns 27,281 shares of the financial services provider’s stock worth $6,384,000 after purchasing an additional 2,698 shares during the last quarter. Allspring Global Investments Holdings LLC raised its holdings in shares of Arthur J. Gallagher & Co. by 645.6% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 84,714 shares of the financial services provider’s stock valued at $19,638,000 after purchasing an additional 73,352 shares in the last quarter. University of Texas Texas AM Investment Management Co. lifted its stake in shares of Arthur J. Gallagher & Co. by 211.6% in the 3rd quarter. University of Texas Texas AM Investment Management Co. now owns 863 shares of the financial services provider’s stock valued at $197,000 after purchasing an additional 586 shares during the last quarter. Almanack Investment Partners LLC. acquired a new stake in shares of Arthur J. Gallagher & Co. in the 3rd quarter valued at $280,000. Finally, M Holdings Securities Inc. acquired a new stake in shares of Arthur J. Gallagher & Co. in the 3rd quarter valued at $428,000. 85.53% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Arthur J. Gallagher & Co.

In other Arthur J. Gallagher & Co. news, CFO Douglas K. Howell sold 30,996 shares of the company’s stock in a transaction dated Monday, November 2nd. The shares were sold at an average price of $275.15, for a total transaction of $8,528,549.40. Following the completion of the sale, the chief financial officer directly owned 92,961 shares in the company, valued at $25,578,219.15. This represents a 25.01% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Christopher E. Mead sold 7,590 shares of the firm’s stock in a transaction dated Monday, November 2nd. The shares were sold at an average price of $279.72, for a total value of $2,123,074.80. Following the completion of the sale, the vice president directly owned 22,287 shares in the company, valued at approximately $6,234,119.64. This represents a 25.40% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 90,596 shares of company stock worth $24,953,010. Corporate insiders own 1.40% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. Evercore increased their target price on shares of Arthur J. Gallagher & Co. from $295.00 to $307.00 and gave the stock an “outperform” rating in a research report on Thursday, October 8th. Oppenheimer began coverage on Arthur J. Gallagher & Co. in a report on Wednesday, October 7th. They set a “market perform” rating on the stock. Jefferies Financial Group boosted their price target on Arthur J. Gallagher & Co. from $295.00 to $319.00 and gave the stock a “buy” rating in a research report on Tuesday, November 3rd. Truist Financial upped their price target on Arthur J. Gallagher & Co. from $265.00 to $275.00 and gave the stock a “hold” rating in a research note on Friday, October 30th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Arthur J. Gallagher & Co. in a research note on Friday, October 9th. Thirteen research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. Based on data from MarketBeat.com, Arthur J. Gallagher & Co. presently has an average rating of “Moderate Buy” and a consensus price target of $292.05.

Arthur J. Gallagher & Co. Trading Down 0.4%

Shares of AJG stock opened at $280.44 on Tuesday. Arthur J. Gallagher & Co. has a 12 month low of $190.75 and a 12 month high of $294.53. The company has a market cap of $71.88 billion, a PE ratio of 42.88, a price-to-earnings-growth ratio of 1.66 and a beta of 0.47. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.49. The business’s 50 day moving average is $250.30 and its two-hundred day moving average is $233.34.

Arthur J. Gallagher & Co. (NYSE:AJG) last issued its quarterly earnings data on Thursday, October 29th. The financial services provider reported $3.00 earnings per share for the quarter, topping analysts’ consensus estimates of $2.99 by $0.01. The business had revenue of $3.92 billion during the quarter, compared to analysts’ expectations of $3.98 billion. Arthur J. Gallagher & Co. had a net margin of 10.39% and a return on equity of 13.90%. Arthur J. Gallagher & Co.’s revenue for the quarter was up 19.6% on a year-over-year basis. During the same period in the previous year, the company earned $2.32 earnings per share. Equities analysts predict that Arthur J. Gallagher & Co. will post 13.13 EPS for the current year.

Arthur J. Gallagher & Co. Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 18th. Investors of record on Monday, December 7th will be issued a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 1.0%. The ex-dividend date is Monday, December 7th. Arthur J. Gallagher & Co.’s dividend payout ratio (DPR) is 42.81%.

About Arthur J. Gallagher & Co.

Arthur J. Gallagher & Co is a global insurance brokerage and risk management services firm. It helps businesses and other organizations assess and manage risk, arrange insurance coverage, and address employee benefits needs.

The company’s services include insurance brokerage, risk management consulting, employee benefits consulting, and claims and settlement services through its Gallagher Bassett business. It serves clients in the United States and internationally, including through a network of correspondent brokers.

Founded in 1927 by Arthur J.