World Investment Advisors raised its position in Arthur J. Gallagher & Co. (NYSE:AJG – Free Report) by 79.6% in the fourth quarter, HoldingsChannel reports. The fund owned 7,506 shares of the financial services provider’s stock after purchasing an additional 3,326 shares during the quarter. World Investment Advisors’ holdings in Arthur J. Gallagher & Co. were worth $1,942,000 as of its most recent SEC filing.
A number of other large investors also recently modified their holdings of the company. Norges Bank acquired a new stake in Arthur J. Gallagher & Co. in the 4th quarter valued at $1,925,062,000. T. Rowe Price Investment Management Inc. grew its holdings in shares of Arthur J. Gallagher & Co. by 123.5% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 5,887,538 shares of the financial services provider’s stock valued at $1,523,636,000 after buying an additional 3,253,498 shares during the last quarter. Northwestern Mutual Wealth Management Co. increased its position in shares of Arthur J. Gallagher & Co. by 9,244.9% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 1,053,636 shares of the financial services provider’s stock worth $272,670,000 after acquiring an additional 1,042,361 shares in the last quarter. Viking Global Investors LP acquired a new stake in shares of Arthur J. Gallagher & Co. in the 4th quarter worth about $269,394,000. Finally, Dodge & Cox bought a new position in Arthur J. Gallagher & Co. in the 4th quarter valued at about $227,887,000. 85.53% of the stock is currently owned by institutional investors.
Analyst Upgrades and Downgrades
AJG has been the subject of a number of recent research reports. Royal Bank Of Canada began coverage on Arthur J. Gallagher & Co. in a report on Tuesday, March 17th. They set an “outperform” rating and a $260.00 price objective for the company. BMO Capital Markets raised Arthur J. Gallagher & Co. from a “market perform” rating to an “outperform” rating and increased their price target for the company from $275.00 to $278.00 in a research report on Tuesday, March 24th. Citigroup raised shares of Arthur J. Gallagher & Co. from a “neutral” rating to a “buy” rating and cut their price objective for the stock from $280.00 to $250.00 in a report on Wednesday, May 6th. Mizuho reduced their target price on shares of Arthur J. Gallagher & Co. from $260.00 to $259.00 and set an “outperform” rating for the company in a research note on Monday, April 13th. Finally, Wells Fargo & Company lowered their target price on shares of Arthur J. Gallagher & Co. from $273.00 to $266.00 and set an “overweight” rating for the company in a report on Thursday, April 9th. Thirteen investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $264.12.
Arthur J. Gallagher & Co. Stock Performance
AJG stock opened at $214.45 on Friday. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.51. The firm has a market cap of $55.09 billion, a PE ratio of 34.70, a P/E/G ratio of 1.09 and a beta of 0.52. The business has a 50 day moving average of $210.65 and a 200-day moving average of $226.89. Arthur J. Gallagher & Co. has a 12-month low of $190.75 and a 12-month high of $327.34.
Arthur J. Gallagher & Co. (NYSE:AJG – Get Free Report) last announced its quarterly earnings data on Thursday, April 30th. The financial services provider reported $4.47 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.43 by $0.04. The firm had revenue of $4.71 billion during the quarter, compared to the consensus estimate of $4.73 billion. Arthur J. Gallagher & Co. had a return on equity of 12.83% and a net margin of 10.76%.The business’s revenue for the quarter was up 29.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.67 EPS. As a group, sell-side analysts expect that Arthur J. Gallagher & Co. will post 13.25 earnings per share for the current year.
Arthur J. Gallagher & Co. Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Friday, June 19th. Stockholders of record on Friday, June 5th were given a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date of this dividend was Friday, June 5th. Arthur J. Gallagher & Co.’s dividend payout ratio is currently 45.31%.
Insider Buying and Selling at Arthur J. Gallagher & Co.
In other news, CAO Richard C. Cary sold 3,000 shares of the stock in a transaction on Tuesday, June 2nd. The stock was sold at an average price of $206.00, for a total transaction of $618,000.00. Following the completion of the transaction, the chief accounting officer owned 47,819 shares in the company, valued at approximately $9,850,714. This represents a 5.90% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 1.40% of the company’s stock.
About Arthur J. Gallagher & Co.
Arthur J. Gallagher & Co is a global insurance brokerage and risk management firm headquartered in Rolling Meadows, Illinois. Founded in 1927 by Arthur J. Gallagher, the company has grown from a regional broker into an international professional services organization that arranges insurance, provides consulting and designs risk-transfer solutions for commercial, industrial, public sector and individual clients.
The company’s core activities include property and casualty insurance brokerage, employee benefits consulting and administration, and a range of risk management services.
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