Synovus Financial Corp lifted its stake in Arthur J Gallagher & Co (NYSE:AJG) by 32.9% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 868 shares of the financial services provider’s stock after acquiring an additional 215 shares during the period. Synovus Financial Corp’s holdings in Arthur J Gallagher & Co were worth $77,000 at the end of the most recent reporting period.
Other hedge funds also recently modified their holdings of the company. Zions Bancorporation N.A. bought a new position in shares of Arthur J Gallagher & Co during the 1st quarter worth approximately $25,000. Quadrant Capital Group LLC raised its position in shares of Arthur J Gallagher & Co by 156.9% during the first quarter. Quadrant Capital Group LLC now owns 506 shares of the financial services provider’s stock worth $38,000 after acquiring an additional 309 shares during the last quarter. Private Ocean LLC bought a new stake in shares of Arthur J Gallagher & Co during the first quarter worth $39,000. Mark Sheptoff Financial Planning LLC raised its position in shares of Arthur J Gallagher & Co by 675.7% during the first quarter. Mark Sheptoff Financial Planning LLC now owns 574 shares of the financial services provider’s stock worth $45,000 after acquiring an additional 500 shares during the last quarter. Finally, Thor Advisors LLC bought a new stake in shares of Arthur J Gallagher & Co during the first quarter worth $67,000. 82.46% of the stock is currently owned by institutional investors and hedge funds.
Shares of AJG stock traded down $0.56 on Thursday, hitting $89.46. 20,611 shares of the stock were exchanged, compared to its average volume of 807,273. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.77. The firm has a market capitalization of $16.68 billion, a P/E ratio of 25.97, a price-to-earnings-growth ratio of 2.56 and a beta of 0.82. The business has a 50-day moving average of $90.23 and a 200 day moving average of $84.89. Arthur J Gallagher & Co has a fifty-two week low of $68.19 and a fifty-two week high of $92.74.
Arthur J Gallagher & Co (NYSE:AJG) last released its earnings results on Thursday, July 25th. The financial services provider reported $0.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.61 by $0.04. Arthur J Gallagher & Co had a return on equity of 14.19% and a net margin of 9.77%. The business had revenue of $1.62 billion for the quarter, compared to analyst estimates of $1.76 billion. During the same quarter in the prior year, the company posted $0.62 earnings per share. Arthur J Gallagher & Co’s revenue was up 1.4% on a year-over-year basis. As a group, research analysts forecast that Arthur J Gallagher & Co will post 3.64 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 20th. Investors of record on Friday, September 6th will be issued a dividend of $0.43 per share. The ex-dividend date of this dividend is Thursday, September 5th. This represents a $1.72 annualized dividend and a yield of 1.92%. Arthur J Gallagher & Co’s payout ratio is presently 49.86%.
AJG has been the subject of a number of analyst reports. Zacks Investment Research raised Arthur J Gallagher & Co from a “sell” rating to a “hold” rating and set a $76.00 price objective for the company in a research note on Tuesday, July 23rd. Credit Suisse Group reissued an “outperform” rating and issued a $93.00 target price (up from $88.00) on shares of Arthur J Gallagher & Co in a research note on Wednesday, August 7th. Barclays set a $107.00 target price on Arthur J Gallagher & Co and gave the company a “buy” rating in a research note on Monday, August 12th. Wells Fargo & Co boosted their target price on Arthur J Gallagher & Co from $93.00 to $100.00 and gave the company an “outperform” rating in a research note on Friday, June 14th. Finally, Royal Bank of Canada set a $90.00 price objective on Arthur J Gallagher & Co and gave the stock a “hold” rating in a research report on Friday, July 26th. Five analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $90.00.
In related news, Director Kay W. Mccurdy sold 2,250 shares of the company’s stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $90.84, for a total transaction of $204,390.00. Following the sale, the director now owns 30,232 shares in the company, valued at $2,746,274.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 1.30% of the company’s stock.
About Arthur J Gallagher & Co
Arthur J. Gallagher & Co, together with its subsidiaries, provides insurance brokerage, consulting, and third party claims settlement and administration services to entities in the United States and internationally. Its Brokerage segment consists of retail and wholesale insurance brokerage operations.
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