Arthur J. Gallagher & Co. (NYSE:AJG) Shares Acquired by Kowal Investment Group LLC

Kowal Investment Group LLC lifted its stake in shares of Arthur J. Gallagher & Co. (NYSE:AJG) by 6.4% during the first quarter, Holdings Channel.com reports. The fund owned 1,179 shares of the financial services provider’s stock after purchasing an additional 71 shares during the period. Kowal Investment Group LLC’s holdings in Arthur J. Gallagher & Co. were worth $295,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Bank of Nova Scotia boosted its holdings in Arthur J. Gallagher & Co. by 13.8% during the third quarter. Bank of Nova Scotia now owns 19,712 shares of the financial services provider’s stock worth $4,493,000 after buying an additional 2,385 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec boosted its holdings in Arthur J. Gallagher & Co. by 11.3% during the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 150,529 shares of the financial services provider’s stock worth $34,310,000 after buying an additional 15,262 shares in the last quarter. AQR Capital Management LLC boosted its holdings in Arthur J. Gallagher & Co. by 3.4% during the third quarter. AQR Capital Management LLC now owns 107,550 shares of the financial services provider’s stock worth $24,514,000 after buying an additional 3,561 shares in the last quarter. Advisors Asset Management Inc. boosted its holdings in Arthur J. Gallagher & Co. by 18.4% during the third quarter. Advisors Asset Management Inc. now owns 10,173 shares of the financial services provider’s stock worth $2,319,000 after buying an additional 1,583 shares in the last quarter. Finally, Axxcess Wealth Management LLC boosted its holdings in Arthur J. Gallagher & Co. by 131.7% during the third quarter. Axxcess Wealth Management LLC now owns 7,843 shares of the financial services provider’s stock worth $1,788,000 after buying an additional 4,458 shares in the last quarter. Institutional investors and hedge funds own 85.53% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently weighed in on AJG shares. Wells Fargo & Company raised their target price on shares of Arthur J. Gallagher & Co. from $274.00 to $282.00 and gave the stock an “overweight” rating in a report on Wednesday, June 26th. Royal Bank of Canada raised their price objective on shares of Arthur J. Gallagher & Co. from $282.00 to $290.00 and gave the stock an “outperform” rating in a research note on Wednesday, June 26th. TD Cowen raised their price objective on shares of Arthur J. Gallagher & Co. from $249.00 to $273.00 and gave the stock a “hold” rating in a research note on Tuesday, April 2nd. Bank of America raised their price objective on shares of Arthur J. Gallagher & Co. from $233.00 to $255.00 and gave the stock an “underperform” rating in a research note on Wednesday, May 22nd. Finally, Piper Sandler decreased their price objective on shares of Arthur J. Gallagher & Co. from $253.00 to $252.00 and set a “neutral” rating for the company in a research note on Monday, April 29th. Two analysts have rated the stock with a sell rating, six have given a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $263.00.

Insider Activity

In other news, VP Scott R. Hudson sold 10,000 shares of the firm’s stock in a transaction on Tuesday, June 18th. The shares were sold at an average price of $263.45, for a total transaction of $2,634,500.00. Following the transaction, the vice president now owns 93,730 shares in the company, valued at approximately $24,693,168.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CFO Douglas K. Howell sold 16,000 shares of the firm’s stock in a transaction on Friday, May 10th. The shares were sold at an average price of $248.41, for a total transaction of $3,974,560.00. Following the transaction, the chief financial officer now owns 80,952 shares in the company, valued at approximately $20,109,286.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Scott R. Hudson sold 10,000 shares of Arthur J. Gallagher & Co. stock in a transaction on Tuesday, June 18th. The stock was sold at an average price of $263.45, for a total transaction of $2,634,500.00. Following the completion of the transaction, the vice president now owns 93,730 shares in the company, valued at approximately $24,693,168.50. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 53,165 shares of company stock worth $13,629,049. 1.60% of the stock is owned by corporate insiders.

Arthur J. Gallagher & Co. Trading Down 0.1 %

Shares of NYSE:AJG opened at $259.13 on Tuesday. The firm has a fifty day moving average of $251.09 and a two-hundred day moving average of $242.53. The firm has a market capitalization of $56.62 billion, a P/E ratio of 52.47, a price-to-earnings-growth ratio of 2.32 and a beta of 0.72. Arthur J. Gallagher & Co. has a 12-month low of $212.39 and a 12-month high of $266.39. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.70.

Arthur J. Gallagher & Co. (NYSE:AJG) last issued its earnings results on Thursday, April 25th. The financial services provider reported $3.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.41 by $0.08. The company had revenue of $3.22 billion during the quarter, compared to analyst estimates of $3.18 billion. Arthur J. Gallagher & Co. had a net margin of 10.27% and a return on equity of 18.94%. The company’s revenue for the quarter was up 20.4% on a year-over-year basis. During the same quarter last year, the business posted $3.03 EPS. On average, equities analysts expect that Arthur J. Gallagher & Co. will post 10.09 EPS for the current fiscal year.

Arthur J. Gallagher & Co. Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 21st. Stockholders of record on Friday, June 7th were issued a dividend of $0.60 per share. The ex-dividend date of this dividend was Friday, June 7th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 0.93%. Arthur J. Gallagher & Co.’s dividend payout ratio is currently 48.58%.

About Arthur J. Gallagher & Co.

Arthur J. Gallagher & Co, together with its subsidiaries, provides insurance and reinsurance brokerage, consulting, and third-party property/casualty claims settlement and administration services to entities and individuals worldwide. It operates in Brokerage and Risk Management segments. The Brokerage segment offers retail and wholesale insurance and reinsurance brokerage services; assists retail brokers and other non-affiliated brokers in the placement of specialized and hard-to-place insurance; and acts as a brokerage wholesaler, managing general agent, and managing general underwriter for distributing specialized insurance coverages to underwriting enterprises.