Hibernia Wealth Partners LLC Acquires New Position in Arthur J. Gallagher & Co. $AJG

Hibernia Wealth Partners LLC bought a new position in Arthur J. Gallagher & Co. (NYSE:AJG) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 892 shares of the financial services provider’s stock, valued at approximately $285,000.

Other hedge funds have also modified their holdings of the company. Vanguard Group Inc. boosted its position in Arthur J. Gallagher & Co. by 2.5% during the first quarter. Vanguard Group Inc. now owns 30,411,264 shares of the financial services provider’s stock valued at $10,499,185,000 after purchasing an additional 739,130 shares during the last quarter. JPMorgan Chase & Co. raised its stake in shares of Arthur J. Gallagher & Co. by 38.3% during the 1st quarter. JPMorgan Chase & Co. now owns 17,372,745 shares of the financial services provider’s stock worth $5,997,767,000 after purchasing an additional 4,815,007 shares in the last quarter. Wellington Management Group LLP lifted its holdings in shares of Arthur J. Gallagher & Co. by 4.9% during the 1st quarter. Wellington Management Group LLP now owns 2,959,673 shares of the financial services provider’s stock valued at $1,021,798,000 after buying an additional 137,354 shares during the last quarter. WCM Investment Management LLC grew its stake in shares of Arthur J. Gallagher & Co. by 5.5% in the 2nd quarter. WCM Investment Management LLC now owns 2,464,662 shares of the financial services provider’s stock valued at $783,097,000 after buying an additional 128,071 shares in the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in Arthur J. Gallagher & Co. by 4.2% in the second quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 2,381,835 shares of the financial services provider’s stock worth $762,473,000 after buying an additional 94,940 shares during the last quarter. 85.53% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

AJG has been the subject of a number of analyst reports. The Goldman Sachs Group reduced their target price on shares of Arthur J. Gallagher & Co. from $361.00 to $315.00 and set a “buy” rating for the company in a research note on Friday, October 31st. Wall Street Zen lowered shares of Arthur J. Gallagher & Co. from a “hold” rating to a “sell” rating in a research note on Saturday, November 1st. Wells Fargo & Company increased their target price on shares of Arthur J. Gallagher & Co. from $365.00 to $366.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 8th. UBS Group upped their price target on Arthur J. Gallagher & Co. from $322.00 to $329.00 and gave the stock a “neutral” rating in a research note on Friday, September 19th. Finally, Piper Sandler cut their price objective on Arthur J. Gallagher & Co. from $340.00 to $295.00 and set an “overweight” rating on the stock in a research note on Friday, October 31st. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and eight have given a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $323.64.

Insider Activity at Arthur J. Gallagher & Co.

In related news, CFO Douglas K. Howell sold 8,000 shares of the company’s stock in a transaction on Monday, September 22nd. The stock was sold at an average price of $299.54, for a total value of $2,396,320.00. Following the completion of the transaction, the chief financial officer directly owned 100,777 shares in the company, valued at approximately $30,186,742.58. This represents a 7.35% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Scott R. Hudson sold 12,855 shares of Arthur J. Gallagher & Co. stock in a transaction on Monday, September 8th. The stock was sold at an average price of $297.60, for a total transaction of $3,825,648.00. Following the sale, the vice president owned 85,920 shares in the company, valued at $25,569,792. This represents a 13.01% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 29,855 shares of company stock worth $8,916,928 over the last three months. Company insiders own 1.60% of the company’s stock.

Arthur J. Gallagher & Co. Price Performance

Shares of NYSE:AJG opened at $256.70 on Friday. The company has a quick ratio of 1.36, a current ratio of 1.36 and a debt-to-equity ratio of 0.52. The business has a 50 day moving average price of $285.65 and a 200 day moving average price of $305.32. The company has a market cap of $65.82 billion, a price-to-earnings ratio of 36.46 and a beta of 0.71. Arthur J. Gallagher & Co. has a twelve month low of $239.47 and a twelve month high of $351.23.

Arthur J. Gallagher & Co. (NYSE:AJG) last posted its quarterly earnings data on Thursday, October 30th. The financial services provider reported $2.32 earnings per share for the quarter, missing the consensus estimate of $2.51 by ($0.19). Arthur J. Gallagher & Co. had a net margin of 14.54% and a return on equity of 13.17%. The business had revenue of $3.33 billion during the quarter, compared to the consensus estimate of $3.34 billion. During the same period in the prior year, the company posted $2.26 earnings per share. The firm’s revenue was up 20.2% compared to the same quarter last year. Research analysts predict that Arthur J. Gallagher & Co. will post 11.54 earnings per share for the current year.

Arthur J. Gallagher & Co. Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, December 19th. Investors of record on Friday, December 5th will be paid a $0.65 dividend. This represents a $2.60 annualized dividend and a dividend yield of 1.0%. The ex-dividend date is Friday, December 5th. Arthur J. Gallagher & Co.’s dividend payout ratio (DPR) is presently 38.86%.

About Arthur J. Gallagher & Co.

Arthur J. Gallagher & Co engages in the provision of insurance brokerage, reinsurance brokerage, consulting, and third-party claims settlement and administration services. It operates through the following segments: Brokerage, Risk Management, and Corporate. The Brokerage segment consists of retail and wholesale insurance brokerage operations.