BlackRock Inc. lowered its stake in Arthur J. Gallagher & Co. (NYSE: AJG – Get Rating) by 15.3% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 16,267,719 shares of the financial services provider’s stock after selling 2,937,358 shares during the quarter. BlackRock Inc. owned about 7.85% of Arthur J. Gallagher & Co. worth $ 2,760,144,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds and other institutional investors also recently bought and sold shares of AJG. Amundi Pioneer Asset Management Inc. raised its stake in Arthur J. Gallagher & Co. by 59.2% during the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 211,330 shares of the financial services provider’s stock valued at $ 16,504,000 after purchasing an additional 78,599 shares during the period. Beacon Pointe Advisors LLC raised its stake in Arthur J. Gallagher & Co. by 10.8% during the 3rd quarter. Beacon Pointe Advisors LLC now owns 2,223 shares of the financial services provider’s stock valued at $ 331,000 after purchasing an additional 217 shares during the period. LPL Financial LLC raised its stake in Arthur J. Gallagher & Co. by 6.1% during the 3rd quarter. LPL Financial LLC now owns 55,531 shares of the financial services provider’s stock valued at $ 8,255,000 after purchasing an additional 3,168 shares during the period. Liberty Wealth Management LLC raised its stake in Arthur J. Gallagher & Co. by 139.0% during the 3rd quarter. Liberty Wealth Management LLC now owns 466 shares of the financial services provider’s stock valued at $ 72,000 after purchasing an additional 271 shares during the period. Finally, Worldquant Millennium Advisors LLC bought a new stake in Arthur J. Gallagher & Co. during the 3rd quarter valued at approximately $ 410,000. 84.18% of the stock is currently owned by hedge funds and other institutional investors.
In related news, insider Susan E. Pietrucha sold 4,966 shares of the business’s stock in a transaction on Tuesday, June 7th. The stock was sold at an average price of $ 162.04, for a total transaction of $ 804,690.64. Following the completion of the transaction, the insider now owns 17,160 shares in the company, valued at approximately $ 2,780,606.40. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.40% of the stock is owned by insiders.
A number of research firms have issued reports on AJG. Royal Bank of Canada raised Arthur J. Gallagher & Co. from a “sector perform” rating to an “outperform” rating and lifted their price objective for the stock from $ 182.00 to $ 185.00 in a research note on Thursday. Wells Fargo & Company lifted their price objective on Arthur J. Gallagher & Co. from $ 193.00 to $ 209.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 12th. UBS Group started coverage on Arthur J. Gallagher & Co. in a research note on Monday, April 18th. They issued a “neutral” rating and a $ 192.00 price objective on the stock. Truist Financial lifted their price objective on Arthur J. Gallagher & Co. from $ 200.00 to $ 205.00 and gave the stock a “buy” rating in a research note on Wednesday, April 6th. Finally, Raymond James raised Arthur J. Gallagher & Co. from an “outperform” rating to a “strong-buy” rating and lifted their price objective for the stock from $ 185.00 to $ 195.00 in a research note on Monday, May 2nd. Five equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Arthur J. Gallagher & Co. currently has a consensus rating of “Buy” and an average target price of $ 179.93.
AJG opened at $ 149.71 on Friday. The business has a fifty day moving average of $ 165.49 and a 200 day moving average of $ 163.57. Arthur J. Gallagher & Co. has a 52-week low of $ 135.50 and a 52-week high of $ 187.02. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.64. The stock has a market cap of $ 31.45 billion, a P / E ratio of 32.98, a PEG ratio of 1.83 and a beta of 0.70.
Arthur J. Gallagher & Co. (NYSE: AJG – Get Rating) last posted its quarterly earnings data on Thursday, April 28th. The financial services provider reported $ 2.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $ 2.77 by $ 0.04. Arthur J. Gallagher & Co. had a return on equity of 15.45% and a net margin of 11.41%. The company had revenue of $ 2.40 billion during the quarter, compared to analysts’ expectations of $ 2.40 billion. During the same quarter in the previous year, the business earned $ 2.02 EPS. Arthur J. Gallagher & Co.’s revenue was up 12.7% compared to the same quarter last year. Equities analysts anticipate that Arthur J. Gallagher & Co. will post 7.83 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 17th. Investors of record on Friday, June 3rd were issued a dividend of $ 0.51 per share. This represents a $ 2.04 dividend on an annualized basis and a yield of 1.36%. Arthur J. Gallagher & Co.’s payout ratio is currently 44.93%.
About Arthur J. Gallagher & Co. (Get Rating)
Arthur J. Gallagher & Co, together with its subsidiaries, provides insurance brokerage, consulting, third-party claims settlement, and administration services in the United States, Australia, Bermuda, Canada, the Caribbean, New Zealand, India, and the United Kingdom . It operates through Brokerage and Risk Management segments.
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