McLean Asset Management Corp Purchases Shares of 10,386 Arthur J. Gallagher & Co. $AJG

McLean Asset Management Corp bought a new stake in Arthur J. Gallagher & Co. (NYSE:AJG) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 10,386 shares of the financial services provider’s stock, valued at approximately $2,249,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Kenora Financial LLC increased its holdings in shares of Arthur J. Gallagher & Co. by 33.2% during the first quarter. Kenora Financial LLC now owns 2,370 shares of the financial services provider’s stock valued at $513,000 after acquiring an additional 591 shares in the last quarter. Fort Washington Investment Advisors Inc. OH lifted its holdings in shares of Arthur J. Gallagher & Co. by 3.9% in the 1st quarter. Fort Washington Investment Advisors Inc. OH now owns 183,381 shares of the financial services provider’s stock worth $39,717,000 after purchasing an additional 6,813 shares in the last quarter. Welch Group LLC grew its position in Arthur J. Gallagher & Co. by 10.4% in the 1st quarter. Welch Group LLC now owns 253,012 shares of the financial services provider’s stock valued at $54,797,000 after purchasing an additional 23,787 shares during the period. Aaron Wealth Advisors LLC increased its stake in Arthur J. Gallagher & Co. by 3.2% during the 1st quarter. Aaron Wealth Advisors LLC now owns 1,716 shares of the financial services provider’s stock valued at $372,000 after purchasing an additional 54 shares in the last quarter. Finally, OLD National Bancorp IN bought a new position in shares of Arthur J. Gallagher & Co. in the first quarter valued at $212,000. Institutional investors and hedge funds own 85.53% of the company’s stock.

Wall Street Analysts Forecast Growth

AJG has been the subject of several recent research reports. Royal Bank Of Canada started coverage on shares of 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 cut their price target on Arthur J. Gallagher & Co. from $273.00 to $266.00 and set an “overweight” rating for the company in a research note on Thursday, April 9th. Morgan Stanley decreased their price objective on Arthur J. Gallagher & Co. from $265.00 to $240.00 and set an “overweight” rating for the company in a report on Thursday, May 21st. Weiss Ratings reiterated a “hold (c-)” rating on shares of Arthur J. Gallagher & Co. in a report on Monday, June 15th. Finally, Piper Sandler lowered their price target on Arthur J. Gallagher & Co. from $226.00 to $211.00 and set a “neutral” rating for the company in a research report on Friday, May 1st. Thirteen analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $264.12.

Arthur J. Gallagher & Co. Trading Up 0.1%

NYSE:AJG opened at $226.34 on Monday. Arthur J. Gallagher & Co. has a 52 week low of $190.75 and a 52 week high of $323.25. The firm has a 50-day moving average price of $210.49 and a two-hundred day moving average price of $225.90. The firm has a market cap of $58.15 billion, a price-to-earnings ratio of 36.62, a price-to-earnings-growth ratio of 1.15 and a beta of 0.53. 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 released its earnings results on Thursday, April 30th. The financial services provider reported $4.47 earnings per share (EPS) 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 return on equity of 12.83% and a net margin of 10.76%.Arthur J. Gallagher & Co.’s quarterly revenue was up 29.0% on a year-over-year basis. During the same period in the prior year, the company posted $3.67 earnings per share. On average, equities analysts expect that Arthur J. Gallagher & Co. will post 13.23 earnings per share for the current fiscal year.

Arthur J. Gallagher & Co. Dividend Announcement

The firm also recently announced 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 of this dividend was Friday, June 5th. This represents a $2.80 annualized dividend and a dividend yield of 1.2%. Arthur J. Gallagher & Co.’s dividend payout ratio (DPR) is currently 45.31%.

Insider Activity at Arthur J. Gallagher & Co.

In other news, CAO Richard C. Cary sold 3,000 shares of Arthur J. Gallagher & Co. stock in a transaction on Tuesday, June 2nd. The stock was sold at an average price of $206.00, for a total transaction of $618,000.00. Following the sale, the chief accounting officer directly owned 47,819 shares in the company, valued at $9,850,714. The trade was a 5.90% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.40% of the stock is owned by insiders.

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.