Milford Funds Ltd. Takes $111.82 Million Position in Arthur J. Gallagher & Co. $AJG

Milford Funds Ltd. purchased a new stake in Arthur J. Gallagher & Co. (NYSE:AJG) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 432,088 shares of the financial services provider’s stock, valued at approximately $111,820,000. Arthur J. Gallagher & Co. comprises approximately 2.2% of Milford Funds Ltd.’s portfolio, making the stock its 15th largest holding. Milford Funds Ltd. owned 0.17% of Arthur J. Gallagher & Co. as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of AJG. Rakuten Securities Inc. lifted its stake in shares of Arthur J. Gallagher & Co. by 650.0% in the 2nd quarter. Rakuten Securities Inc. now owns 105 shares of the financial services provider’s stock valued at $34,000 after acquiring an additional 91 shares during the last quarter. Financial Life Planners bought a new position in shares of Arthur J. Gallagher & Co. in the 3rd quarter valued at $39,000. Thurston Springer Miller Herd & Titak Inc. lifted its stake in shares of Arthur J. Gallagher & Co. by 668.2% in the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 169 shares of the financial services provider’s stock valued at $44,000 after acquiring an additional 147 shares during the last quarter. CVA Family Office LLC lifted its stake in shares of Arthur J. Gallagher & Co. by 84.8% in the 4th quarter. CVA Family Office LLC now owns 183 shares of the financial services provider’s stock valued at $47,000 after acquiring an additional 84 shares during the last quarter. Finally, Entrust Financial LLC bought a new position in shares of Arthur J. Gallagher & Co. in the 4th quarter valued at $51,000. 85.53% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, CAO Richard C. Cary sold 3,000 shares of the business’s stock in a transaction dated 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 sale, the chief accounting officer directly owned 47,819 shares of the company’s stock, valued at $9,850,714. The trade was a 5.90% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 1.40% of the stock is owned by insiders.

Analysts Set New Price Targets

Several research analysts recently issued reports on AJG shares. Truist Financial lowered their target price on 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. Keefe, Bruyette & Woods lowered their target price on Arthur J. Gallagher & Co. from $246.00 to $235.00 and set a “market perform” rating for the company in a research report on Friday, May 1st. Royal Bank Of Canada started coverage on Arthur J. Gallagher & Co. in a research report on Tuesday, March 17th. They set an “outperform” rating and a $260.00 target price for the company. Wells Fargo & Company lowered their target price on Arthur J. Gallagher & Co. from $273.00 to $266.00 and set an “overweight” rating for the company in a research report on Thursday, April 9th. Finally, Morgan Stanley lowered their target price on Arthur J. Gallagher & Co. from $265.00 to $240.00 and set an “overweight” rating for the company in a research report on Thursday, May 21st. Thirteen analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to MarketBeat.com, Arthur J. Gallagher & Co. has an average rating of “Moderate Buy” and a consensus price target of $263.71.

Arthur J. Gallagher & Co. Stock Performance

NYSE:AJG opened at $218.53 on Friday. The company has a fifty day moving average of $210.97 and a 200-day moving average of $228.06. The firm has a market capitalization of $56.14 billion, a P/E ratio of 35.36, a P/E/G ratio of 1.12 and a beta of 0.52. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.51. Arthur J. Gallagher & Co. has a twelve month low of $190.75 and a twelve month high of $327.34.

Arthur J. Gallagher & Co. (NYSE:AJG) last released 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 company had revenue of $4.71 billion during the quarter, compared to analyst estimates 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 revenue for the quarter was up 29.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $3.67 EPS. As a group, sell-side analysts anticipate that Arthur J. Gallagher & Co. will post 13.27 EPS for the current year.

Arthur J. Gallagher & Co. Dividend Announcement

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