Burgundy Asset Management Ltd. Has $146.42 Million Holdings in Arthur J. Gallagher & Co. (NYSE:AJG)

Burgundy Asset Management Ltd. raised its position in Arthur J. Gallagher & Co. (NYSE:AJG) by 1.5% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 564,651 shares of the financial services provider’s stock after purchasing an additional 8,130 shares during the quarter. Arthur J. Gallagher & Co. accounts for approximately 1.5% of Burgundy Asset Management Ltd.’s holdings, making the stock its 27th largest holding. Burgundy Asset Management Ltd.’s holdings in Arthur J. Gallagher & Co. were worth $146,420,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of AJG. Signaturefd LLC increased its stake in Arthur J. Gallagher & Co. by 1.0% in the 2nd quarter. Signaturefd LLC now owns 3,825 shares of the financial services provider’s stock valued at $992,000 after buying an additional 39 shares during the last quarter. Trueblood Wealth Management LLC increased its position in shares of Arthur J. Gallagher & Co. by 0.4% in the second quarter. Trueblood Wealth Management LLC now owns 9,290 shares of the financial services provider’s stock valued at $2,409,000 after acquiring an additional 40 shares during the last quarter. J.W. Cole Advisors Inc. raised its holdings in Arthur J. Gallagher & Co. by 4.7% during the first quarter. J.W. Cole Advisors Inc. now owns 983 shares of the financial services provider’s stock worth $246,000 after acquiring an additional 44 shares in the last quarter. ERn Financial LLC boosted its position in Arthur J. Gallagher & Co. by 1.9% during the first quarter. ERn Financial LLC now owns 2,542 shares of the financial services provider’s stock valued at $636,000 after purchasing an additional 47 shares during the last quarter. Finally, Signature Estate & Investment Advisors LLC grew its stake in Arthur J. Gallagher & Co. by 0.8% in the second quarter. Signature Estate & Investment Advisors LLC now owns 6,331 shares of the financial services provider’s stock valued at $1,642,000 after purchasing an additional 48 shares in the last quarter. 85.53% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently commented on the company. Truist Financial increased their price objective on Arthur J. Gallagher & Co. from $255.00 to $265.00 and gave the company a “hold” rating in a report on Friday, July 26th. BMO Capital Markets boosted their price objective on shares of Arthur J. Gallagher & Co. from $275.00 to $295.00 and gave the stock an “outperform” rating in a research note on Friday, July 26th. Barclays began coverage on shares of Arthur J. Gallagher & Co. in a research note on Wednesday, September 4th. They issued an “equal weight” rating and a $300.00 target price for the company. UBS Group boosted their price target on Arthur J. Gallagher & Co. from $260.00 to $292.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 31st. Finally, Royal Bank of Canada lifted their target price on Arthur J. Gallagher & Co. from $290.00 to $310.00 and gave the stock an “outperform” rating in a research note 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. Based on data from MarketBeat, Arthur J. Gallagher & Co. currently has an average rating of “Hold” and an average price target of $277.56.

Arthur J. Gallagher & Co. Trading Down 1.6 %

AJG stock opened at $291.18 on Thursday. Arthur J. Gallagher & Co. has a 52 week low of $218.63 and a 52 week high of $301.04. The company has a market capitalization of $63.62 billion, a PE ratio of 58.94, a price-to-earnings-growth ratio of 2.47 and a beta of 0.72. The company’s 50-day simple moving average is $285.14 and its 200 day simple moving average is $262.35. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.04 and a current ratio of 1.04.

Arthur J. Gallagher & Co. (NYSE:AJG) last announced its earnings results on Thursday, July 25th. The financial services provider reported $2.26 EPS for the quarter, topping the consensus estimate of $2.24 by $0.02. The company had revenue of $2.73 billion for the quarter, compared to analysts’ expectations of $2.77 billion. Arthur J. Gallagher & Co. had a net margin of 10.41% and a return on equity of 19.25%. The business’s revenue for the quarter was up 14.3% on a year-over-year basis. During the same period last year, the firm earned $1.90 earnings per share. As a group, sell-side analysts anticipate that Arthur J. Gallagher & Co. will post 10.16 earnings per share for the current year.

Arthur J. Gallagher & Co. Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 20th. Stockholders 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 dividend on an annualized basis and a dividend yield of 0.82%. Arthur J. Gallagher & Co.’s payout ratio is 48.58%.

Insider Transactions at Arthur J. Gallagher & Co.

In related news, President Michael Robert Pesch sold 7,100 shares of the company’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $296.20, for a total transaction of $2,103,020.00. Following the completion of the sale, the president now owns 33,267 shares of the company’s stock, valued at $9,853,685.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Arthur J. Gallagher & Co. news, President Michael Robert Pesch sold 7,100 shares of the business’s stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $296.20, for a total transaction of $2,103,020.00. Following the completion of the transaction, the president now directly owns 33,267 shares in the company, valued at $9,853,685.40. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Douglas K. Howell sold 8,710 shares of the company’s stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $285.07, for a total value of $2,482,959.70. Following the sale, the chief financial officer now owns 75,963 shares of the company’s stock, valued at $21,654,772.41. The disclosure for this sale can be found here. In the last three months, insiders have sold 37,145 shares of company stock valued at $10,629,900. 1.60% of the stock is owned by corporate insiders.

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.