State of Alaska Department of Revenue Acquires 210 Shares of Arthur J. Gallagher & Co. (NYSE:AJG)

State of Alaska Department of Revenue boosted its holdings in Arthur J. Gallagher & Co. (NYSE:AJG) by 0.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 45,397 shares of the financial services provider’s stock after purchasing an additional 210 shares during the period. State of Alaska Department of Revenue’s holdings in Arthur J. Gallagher & Co. were worth $11,350,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in AJG. Norges Bank bought a new stake in Arthur J. Gallagher & Co. in the fourth quarter worth $1,308,316,000. Brown Advisory Inc. raised its stake in shares of Arthur J. Gallagher & Co. by 1,210.9% during the fourth quarter. Brown Advisory Inc. now owns 1,383,480 shares of the financial services provider’s stock valued at $311,117,000 after acquiring an additional 1,277,945 shares during the last quarter. Capital World Investors raised its stake in shares of Arthur J. Gallagher & Co. by 24.9% during the fourth quarter. Capital World Investors now owns 4,433,710 shares of the financial services provider’s stock valued at $997,053,000 after acquiring an additional 884,394 shares during the last quarter. Capital International Investors raised its stake in shares of Arthur J. Gallagher & Co. by 7.0% during the fourth quarter. Capital International Investors now owns 10,323,616 shares of the financial services provider’s stock valued at $2,321,493,000 after acquiring an additional 672,404 shares during the last quarter. Finally, Chilton Investment Co. Inc. raised its stake in shares of Arthur J. Gallagher & Co. by 476.2% during the fourth quarter. Chilton Investment Co. Inc. now owns 484,548 shares of the financial services provider’s stock valued at $108,965,000 after acquiring an additional 400,453 shares during the last quarter. 85.53% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the stock. Keefe, Bruyette & Woods reaffirmed an “underperform” rating and set a $240.00 price objective on shares of Arthur J. Gallagher & Co. in a research note on Wednesday, June 26th. Bank of America upped 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 report on Wednesday, May 22nd. Piper Sandler cut their price target on shares of Arthur J. Gallagher & Co. from $253.00 to $252.00 and set a “neutral” rating on the stock in a report on Monday, April 29th. Argus increased their price target on shares of Arthur J. Gallagher & Co. from $264.00 to $270.00 and gave the company a “buy” rating in a report on Tuesday, May 14th. Finally, TD Cowen increased their price objective on shares of Arthur J. Gallagher & Co. from $249.00 to $273.00 and gave the company a “hold” rating in a research report on Tuesday, April 2nd. Two equities 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. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $263.00.

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

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

Arthur J. Gallagher & Co. Stock Up 0.2 %

Shares of AJG stock opened at $262.63 on Thursday. The company has a market capitalization of $57.38 billion, a price-to-earnings ratio of 53.16, a PEG ratio of 2.32 and a beta of 0.72. Arthur J. Gallagher & Co. has a one year low of $212.39 and a one year high of $266.39. The company’s fifty day moving average price is $252.00 and its 200-day moving average price is $243.04. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.05 and a quick ratio of 1.05.

Arthur J. Gallagher & Co. (NYSE:AJG) last announced its quarterly earnings data on Thursday, April 25th. The financial services provider reported $3.49 EPS for the quarter, beating the consensus estimate of $3.41 by $0.08. The firm had revenue of $3.22 billion for the quarter, compared to the consensus estimate 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 was up 20.4% on a year-over-year basis. During the same period last year, the firm earned $3.03 EPS. Sell-side analysts expect that Arthur J. Gallagher & Co. will post 10.09 EPS for the current fiscal year.

Arthur J. Gallagher & Co. Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, June 21st. Shareholders of record on Friday, June 7th were paid a $0.60 dividend. 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 payout ratio is currently 48.58%.

Arthur J. Gallagher & Co. 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.