Norden Group LLC Acquires New Holdings in Arthur J. Gallagher & Co. (NYSE:AJG)

Norden Group LLC bought a new position in shares of Arthur J. Gallagher & Co. (NYSE:AJG) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 15,352 shares of the financial services provider’s stock, valued at approximately $3,841,000.

A number of other institutional investors have also made changes to their positions in the stock. Pinnacle Bancorp Inc. boosted its position in shares of Arthur J. Gallagher & Co. by 14.3% during the 4th quarter. Pinnacle Bancorp Inc. now owns 343 shares of the financial services provider’s stock worth $77,000 after purchasing an additional 43 shares during the period. Forte Capital LLC ADV grew its stake in shares of Arthur J. Gallagher & Co. by 1.9% in the fourth quarter. Forte Capital LLC ADV now owns 2,395 shares of the financial services provider’s stock valued at $539,000 after buying an additional 44 shares in the last quarter. Cambridge Trust Co. raised its holdings in shares of Arthur J. Gallagher & Co. by 5.1% in the 4th quarter. Cambridge Trust Co. now owns 969 shares of the financial services provider’s stock valued at $218,000 after buying an additional 47 shares during the period. ERn Financial LLC lifted its stake in Arthur J. Gallagher & Co. by 1.9% during the 1st quarter. ERn Financial LLC now owns 2,542 shares of the financial services provider’s stock worth $636,000 after acquiring an additional 47 shares in the last quarter. Finally, Financial Counselors Inc. boosted its holdings in Arthur J. Gallagher & Co. by 1.6% during the 4th quarter. Financial Counselors Inc. now owns 3,255 shares of the financial services provider’s stock valued at $732,000 after acquiring an additional 50 shares during the period. 85.53% of the stock is currently owned by institutional investors and hedge funds.

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

In other news, General Counsel Walter D. Bay sold 800 shares of the firm’s stock in a transaction that occurred on Monday, May 20th. The shares were sold at an average price of $257.24, for a total transaction of $205,792.00. Following the transaction, the general counsel now directly owns 44,691 shares in the company, valued at $11,496,312.84. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, General Counsel Walter D. Bay sold 800 shares of the stock in a transaction dated Monday, May 20th. The shares were sold at an average price of $257.24, for a total transaction of $205,792.00. Following the completion of the sale, the general counsel now owns 44,691 shares in the company, valued at $11,496,312.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, VP Scott R. Hudson sold 10,000 shares of the business’s stock in a transaction dated Tuesday, June 18th. The shares were sold at an average price of $263.45, for a total value 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. Over the last quarter, insiders sold 53,165 shares of company stock worth $13,629,049. 1.60% of the stock is owned by insiders.

Arthur J. Gallagher & Co. Stock Performance

Shares of AJG opened at $262.63 on Thursday. 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. has a 52-week low of $212.39 and a 52-week high of $266.39. The stock has a 50 day moving average price of $252.00 and a 200 day moving average price of $243.04. The company has a market capitalization of $57.38 billion, a price-to-earnings ratio of 53.16, a price-to-earnings-growth ratio of 2.34 and a beta of 0.72.

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

Arthur J. Gallagher & Co. Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 21st. Shareholders of record on Friday, June 7th were given a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 0.91%. The ex-dividend date of this dividend was Friday, June 7th. Arthur J. Gallagher & Co.’s dividend payout ratio (DPR) is 48.58%.

Wall Street Analyst Weigh In

AJG has been the subject of several recent research reports. Argus raised their price objective on shares of Arthur J. Gallagher & Co. from $264.00 to $270.00 and gave the company a “buy” rating in a research note on Tuesday, May 14th. Piper Sandler dropped their price target 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. Keefe, Bruyette & Woods reiterated an “underperform” rating and issued a $240.00 price objective on shares of Arthur J. Gallagher & Co. in a research note on Wednesday, June 26th. Royal Bank of Canada boosted their target price on 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. Finally, TD Cowen lifted their price objective on Arthur J. Gallagher & Co. from $249.00 to $273.00 and gave the company a “hold” rating in a research note on Tuesday, April 2nd. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and five have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $263.00.

Arthur J. Gallagher & Co. Company Profile

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.