Healthcare of Ontario Pension Plan Trust Fund Has $6.22 Million Stake in Arthur J. Gallagher & Co. (NYSE:AJG)

Healthcare of Ontario Pension Plan Trust Fund trimmed its holdings in Arthur J. Gallagher & Co. (NYSE:AJG) by 25.0% in the second quarter, Holdings Channel reports. The fund owned 24,000 shares of the financial services provider’s stock after selling 8,000 shares during the period. Healthcare of Ontario Pension Plan Trust Fund’s holdings in Arthur J. Gallagher & Co. were worth $6,223,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of AJG. Sanctuary Advisors LLC bought a new position in shares of Arthur J. Gallagher & Co. during the 2nd quarter worth approximately $4,661,000. Brown Financial Advisors bought a new position in shares of Arthur J. Gallagher & Co. during the 2nd quarter worth approximately $740,000. Strategic Investment Solutions Inc. IL bought a new position in shares of Arthur J. Gallagher & Co. during the 2nd quarter worth approximately $26,000. New Century Financial Group LLC grew its stake in shares of Arthur J. Gallagher & Co. by 100.8% during the 2nd quarter. New Century Financial Group LLC now owns 3,383 shares of the financial services provider’s stock worth $877,000 after acquiring an additional 1,698 shares in the last quarter. Finally, Cetera Investment Advisers grew its stake in shares of Arthur J. Gallagher & Co. by 12.9% during the 2nd quarter. Cetera Investment Advisers now owns 61,484 shares of the financial services provider’s stock worth $15,943,000 after acquiring an additional 7,035 shares in the last quarter. 85.53% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

AJG has been the subject of several research reports. UBS Group raised their price target on shares of Arthur J. Gallagher & Co. from $260.00 to $292.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 31st. Keefe, Bruyette & Woods raised their target price on shares of Arthur J. Gallagher & Co. from $241.00 to $252.00 and gave the company an “underperform” rating in a research note on Friday, July 26th. TD Cowen raised their target price on shares of Arthur J. Gallagher & Co. from $273.00 to $288.00 and gave the company a “hold” rating in a research note on Tuesday, August 13th. Piper Sandler raised their target price on shares of Arthur J. Gallagher & Co. from $254.00 to $293.00 and gave the company a “neutral” rating in a research note on Friday, September 20th. Finally, Jefferies Financial Group raised their target price on shares of Arthur J. Gallagher & Co. from $264.00 to $267.00 in a research note on Friday, July 26th. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $283.36.

Arthur J. Gallagher & Co. Stock Up 1.3 %

AJG opened at $289.74 on Friday. Arthur J. Gallagher & Co. has a fifty-two week low of $218.63 and a fifty-two week high of $301.04. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.04 and a current ratio of 1.04. The company has a market capitalization of $63.31 billion, a P/E ratio of 58.65, a P/E/G ratio of 2.37 and a beta of 0.72. The stock has a fifty day moving average of $287.51 and a 200-day moving average of $264.86.

Arthur J. Gallagher & Co. (NYSE:AJG) last posted its earnings results on Thursday, July 25th. The financial services provider reported $2.26 earnings per share for the quarter, topping analysts’ consensus estimates of $2.24 by $0.02. Arthur J. Gallagher & Co. had a return on equity of 19.25% and a net margin of 10.41%. The company had revenue of $2.73 billion during the quarter, compared to the consensus estimate of $2.77 billion. During the same quarter last year, the firm earned $1.90 earnings per share. The company’s revenue was up 14.3% on a year-over-year basis. On average, equities analysts expect that Arthur J. Gallagher & Co. will post 10.14 EPS for the current year.

Arthur J. Gallagher & Co. Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, September 20th. Investors of record on Friday, September 6th were paid a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 0.83%. The ex-dividend date was Friday, September 6th. Arthur J. Gallagher & Co.’s dividend payout ratio (DPR) is presently 48.58%.

Insider Activity at Arthur J. Gallagher & Co.

In related news, CFO Douglas K. Howell sold 7,000 shares of the business’s stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $284.68, for a total value of $1,992,760.00. Following the completion of the transaction, the chief financial officer now owns 75,963 shares of the company’s stock, valued at $21,625,146.84. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Arthur J. Gallagher & Co. news, President Michael Robert Pesch sold 7,100 shares of the business’s stock in a transaction dated Friday, September 13th. The stock was 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 owns 33,267 shares of the company’s stock, valued at approximately $9,853,685.40. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Douglas K. Howell sold 7,000 shares of the business’s stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $284.68, for a total value of $1,992,760.00. Following the transaction, the chief financial officer now directly owns 75,963 shares of the company’s stock, valued at approximately $21,625,146.84. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 44,145 shares of company stock valued at $12,622,660 over the last quarter. 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.