Old North State Trust LLC Invests $1.85 Million in Arthur J. Gallagher & Co. $AJG

Old North State Trust LLC bought a new stake in Arthur J. Gallagher & Co. (NYSE:AJG) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 8,041 shares of the financial services provider’s stock, valued at approximately $1,846,000. Arthur J. Gallagher & Co. accounts for about 0.9% of Old North State Trust LLC’s portfolio, making the stock its 25th largest holding.

Other institutional investors have also recently added to or reduced their stakes in the company. Kemnay Advisory Services Inc. acquired a new position in shares of Arthur J. Gallagher & Co. during the fourth quarter worth about $26,000. Axiom Investment Management LLC purchased a new stake in shares of Arthur J. Gallagher & Co. during the 1st quarter valued at about $28,000. Cassaday & Co Wealth Management LLC acquired a new position in Arthur J. Gallagher & Co. during the 1st quarter worth approximately $29,000. MV Capital Management Inc. purchased a new position in Arthur J. Gallagher & Co. in the 4th quarter worth approximately $34,000. Finally, Rakuten Securities Inc. grew its position in Arthur J. Gallagher & Co. by 650.0% in the second 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 in the last quarter. 85.53% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Arthur J. Gallagher & Co.

In related news, General Counsel Walter D. Bay sold 12,000 shares of the stock in a transaction dated Monday, August 24th. The shares were sold at an average price of $270.08, for a total value of $3,240,960.00. Following the sale, the general counsel owned 71,292 shares of the company’s stock, valued at $19,254,543.36. This trade represents a 14.41% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Christopher E. Mead sold 3,500 shares of Arthur J. Gallagher & Co. stock in a transaction dated Wednesday, August 19th. The shares were sold at an average price of $257.02, for a total transaction of $899,570.00. Following the completion of the sale, the vice president owned 22,223 shares in the company, valued at approximately $5,711,755.46. This represents a 13.61% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 18,500 shares of company stock worth $4,758,530. 1.40% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

AJG has been the topic of a number of recent research reports. Citigroup boosted their target price on shares of Arthur J. Gallagher & Co. from $250.00 to $285.00 and gave the stock a “buy” rating in a research report on Tuesday, August 4th. Argus lifted their price target on shares of Arthur J. Gallagher & Co. from $267.00 to $300.00 and gave the stock a “buy” rating in a research note on Monday, August 17th. 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. Truist Financial raised their target price on Arthur J. Gallagher & Co. from $225.00 to $265.00 and gave the company a “hold” rating in a research note on Friday, July 31st. Finally, Barclays lifted their target price on Arthur J. Gallagher & Co. from $275.00 to $292.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 7th. Fourteen 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 stock currently has an average rating of “Moderate Buy” and a consensus price target of $290.28.

Arthur J. Gallagher & Co. Stock Performance

Shares of AJG stock opened at $259.78 on Friday. The stock has a market capitalization of $66.58 billion, a price-to-earnings ratio of 43.08, a PEG ratio of 1.62 and a beta of 0.50. Arthur J. Gallagher & Co. has a one year low of $190.75 and a one year high of $313.55. The company’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. (NYSE:AJG) last issued its earnings results on Thursday, July 30th. The financial services provider reported $2.84 EPS for the quarter, topping the consensus estimate of $2.81 by $0.03. Arthur J. Gallagher & Co. had a return on equity of 13.28% and a net margin of 9.96%.The company had revenue of $3.95 billion during the quarter, compared to analyst estimates of $4.01 billion. During the same quarter last year, the firm earned $2.33 EPS. The business’s revenue was up 24.3% on a year-over-year basis. Equities analysts anticipate 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. Shareholders of record on Tuesday, September 8th will be given a $0.70 dividend. The ex-dividend date of this dividend is Tuesday, September 8th. This represents a $2.80 annualized dividend and a yield of 1.1%. Arthur J. Gallagher & Co.’s dividend payout ratio (DPR) is currently 46.43%.

Arthur J. Gallagher & Co. 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.