Prudential PLC Buys 1,082 Shares of Arthur J. Gallagher & Co. (NYSE:AJG)

Prudential PLC raised its holdings in Arthur J. Gallagher & Co. (NYSE:AJG) by 42.2% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,649 shares of the financial services provider’s stock after purchasing an additional 1,082 shares during the quarter. Prudential PLC’s holdings in Arthur J. Gallagher & Co. were worth $946,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently bought and sold shares of the company. Richardson Financial Services Inc. bought a new position in Arthur J. Gallagher & Co. in the 4th quarter valued at $27,000. Creekmur Asset Management LLC bought a new position in Arthur J. Gallagher & Co. in the 1st quarter valued at $27,000. DiNuzzo Private Wealth Inc. grew its stake in Arthur J. Gallagher & Co. by 89.7% in the 2nd quarter. DiNuzzo Private Wealth Inc. now owns 110 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 52 shares during the period. Transcendent Capital Group LLC purchased a new position in shares of Arthur J. Gallagher & Co. during the 4th quarter valued at $31,000. Finally, Security National Bank purchased a new position in shares of Arthur J. Gallagher & Co. during the 4th quarter valued at $33,000. Institutional investors own 85.53% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently commented on AJG shares. Keefe, Bruyette & Woods upped their price target on Arthur J. Gallagher & Co. from $241.00 to $252.00 and gave the company an “underperform” rating in a research report on Friday, July 26th. The Goldman Sachs Group increased their price objective on Arthur J. Gallagher & Co. from $272.00 to $286.00 in a report on Friday, July 26th. Jefferies Financial Group increased their price objective on Arthur J. Gallagher & Co. from $264.00 to $267.00 in a report on Friday, July 26th. Piper Sandler increased their price objective on Arthur J. Gallagher & Co. from $252.00 to $254.00 and gave the stock a “neutral” rating in a report on Friday, July 26th. Finally, Wells Fargo & Company increased their price objective on Arthur J. Gallagher & Co. from $282.00 to $301.00 and gave the stock an “overweight” rating in a report on Friday, July 26th. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, Arthur J. Gallagher & Co. presently has a consensus rating of “Hold” and an average price target of $276.82.

Insider Buying and Selling

In related news, President Thomas Joseph Gallagher sold 15,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $282.96, for a total transaction of $4,244,400.00. Following the transaction, the president now directly owns 329,099 shares in the company, valued at approximately $93,121,853.04. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, General Counsel Walter D. Bay sold 8,303 shares of Arthur J. Gallagher & Co. stock in a transaction that occurred on Tuesday, June 18th. The stock was sold at an average price of $262.74, for a total value of $2,181,530.22. Following the sale, the general counsel now directly owns 36,388 shares in the company, valued at approximately $9,560,583.12. The sale was disclosed in a filing with the SEC, which is available through this link. Also, President Thomas Joseph Gallagher sold 15,000 shares of Arthur J. Gallagher & Co. stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $282.96, for a total value of $4,244,400.00. Following the completion of the sale, the president now owns 329,099 shares in the company, valued at $93,121,853.04. The disclosure for this sale can be found here. Insiders have sold a total of 48,348 shares of company stock worth $13,342,910 in the last ninety days. 1.60% of the stock is owned by insiders.

Arthur J. Gallagher & Co. Price Performance

Shares of Arthur J. Gallagher & Co. stock opened at $296.47 on Friday. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.67. The firm has a market capitalization of $64.78 billion, a PE ratio of 60.01, a price-to-earnings-growth ratio of 2.47 and a beta of 0.72. The business’s 50-day moving average price is $282.68 and its 200-day moving average price is $260.78. Arthur J. Gallagher & Co. has a 12 month low of $218.63 and a 12 month high of $300.66.

Arthur J. Gallagher & Co. (NYSE:AJG) last announced its quarterly earnings data on Thursday, July 25th. The financial services provider reported $2.26 EPS for the quarter, beating the consensus estimate of $2.24 by $0.02. The firm had revenue of $2.73 billion for the quarter, compared to analyst estimates of $2.77 billion. Arthur J. Gallagher & Co. had a return on equity of 19.25% and a net margin of 10.41%. The company’s revenue was up 14.3% on a year-over-year basis. During the same period in the prior year, the company earned $1.90 EPS. Sell-side analysts forecast that Arthur J. Gallagher & Co. will post 10.16 EPS for the current fiscal year.

Arthur J. Gallagher & Co. Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, September 20th. Investors of record on Friday, September 6th will be given a dividend of $0.60 per share. The ex-dividend date is Friday, September 6th. This represents a $2.40 annualized dividend and a yield of 0.81%. Arthur J. Gallagher & Co.’s payout ratio is 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.