Dearborn Partners LLC Acquires New Shares in Arthur J. Gallagher & Co. $AJG

Dearborn Partners LLC bought a new stake in Arthur J. Gallagher & Co. (NYSE:AJG) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 115,800 shares of the financial services provider’s stock, valued at approximately $26,584,000. Arthur J. Gallagher & Co. accounts for about 1.2% of Dearborn Partners LLC’s holdings, making the stock its 27th biggest position.

Several other institutional investors also recently modified their holdings of AJG. CYBER HORNET ETFs LLC raised its position in shares of Arthur J. Gallagher & Co. by 7.8% in the 4th quarter. CYBER HORNET ETFs LLC now owns 634 shares of the financial services provider’s stock valued at $164,000 after acquiring an additional 46 shares during the period. Allen Capital Group LLC grew its holdings in Arthur J. Gallagher & Co. by 2.5% during the fourth quarter. Allen Capital Group LLC now owns 1,895 shares of the financial services provider’s stock valued at $490,000 after purchasing an additional 47 shares during the period. Manhattan West Asset Management LLC increased its stake in Arthur J. Gallagher & Co. by 0.7% in the fourth quarter. Manhattan West Asset Management LLC now owns 6,870 shares of the financial services provider’s stock valued at $1,778,000 after purchasing an additional 49 shares in the last quarter. Pure Financial Advisors LLC raised its holdings in Arthur J. Gallagher & Co. by 6.4% in the fourth quarter. Pure Financial Advisors LLC now owns 809 shares of the financial services provider’s stock worth $209,000 after purchasing an additional 49 shares during the period. Finally, REAP Financial Group LLC raised its holdings in Arthur J. Gallagher & Co. by 13.8% in the fourth quarter. REAP Financial Group LLC now owns 430 shares of the financial services provider’s stock worth $111,000 after purchasing an additional 52 shares during the period. 85.53% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on AJG shares. Wolfe Research lowered shares of Arthur J. Gallagher & Co. from an “outperform” rating to a “peer perform” rating in a report on Thursday, July 9th. Mizuho raised their price objective on Arthur J. Gallagher & Co. from $287.00 to $300.00 and gave the stock an “outperform” rating in a research note on Friday, July 31st. Weiss Ratings raised Arthur J. Gallagher & Co. from a “hold (c-)” rating to a “hold (c)” rating in a research note on Monday, July 13th. Morgan Stanley increased their price target on Arthur J. Gallagher & Co. from $270.00 to $290.00 and gave the stock an “overweight” rating in a report on Wednesday, August 19th. Finally, Truist Financial raised their price target on Arthur J. Gallagher & Co. from $225.00 to $265.00 and gave the stock a “hold” rating in a research report on Friday, July 31st. Fourteen equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $290.28.

Insider Activity at Arthur J. Gallagher & Co.

In other 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 sale, the chief accounting officer owned 47,819 shares of the company’s stock, valued at approximately $9,850,714. This represents a 5.90% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, General Counsel Walter D. Bay sold 12,000 shares of Arthur J. Gallagher & Co. stock in a transaction dated Monday, August 24th. The shares were sold at an average price of $270.08, for a total transaction of $3,240,960.00. Following the completion of the transaction, the general counsel directly owned 71,292 shares of the company’s stock, valued at approximately $19,254,543.36. This trade represents a 14.41% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 18,500 shares of company stock valued at $4,758,530. Insiders own 1.40% of the company’s stock.

Arthur J. Gallagher & Co. Stock Down 2.0%

Shares of Arthur J. Gallagher & Co. stock opened at $259.78 on Friday. The firm has a market cap of $66.58 billion, a PE ratio of 43.08, a P/E/G ratio of 1.62 and a beta of 0.50. The business’s 50 day simple moving average is $248.57 and its 200 day simple moving average is $225.48. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.05 and a current ratio of 1.05. Arthur J. Gallagher & Co. has a 52-week low of $190.75 and a 52-week high of $313.55.

Arthur J. Gallagher & Co. (NYSE:AJG) last issued its quarterly earnings results on Thursday, July 30th. The financial services provider reported $2.84 earnings per share for the quarter, topping the consensus estimate of $2.81 by $0.03. The company had revenue of $3.95 billion during the quarter, compared to analysts’ expectations of $4.01 billion. Arthur J. Gallagher & Co. had a net margin of 9.96% and a return on equity of 13.28%. The business’s quarterly revenue was up 24.3% on a year-over-year basis. During the same period last year, the business earned $2.33 EPS. On average, analysts predict that Arthur J. Gallagher & Co. will post 13.27 earnings per share for the current fiscal year.

Arthur J. Gallagher & Co. Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, September 18th. Investors of record on Tuesday, September 8th will be issued a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 1.1%. The ex-dividend date is Tuesday, September 8th. Arthur J. Gallagher & Co.’s dividend payout ratio is presently 46.43%.

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.