Taylor Frigon Capital Management LLC acquired a new position in Arthur J. Gallagher & Co. (NYSE:AJG – Free Report) during the 1st quarter, Holdings Channel.com reports. The institutional investor acquired 7,254 shares of the financial services provider’s stock, valued at approximately $1,571,000.
A number of other hedge funds also recently made changes to their positions in AJG. Vanguard Group Inc. lifted its holdings in Arthur J. Gallagher & Co. by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 31,390,446 shares of the financial services provider’s stock valued at $8,123,534,000 after purchasing an additional 217,136 shares in the last quarter. Capital World Investors increased its stake in shares of Arthur J. Gallagher & Co. by 7.0% in the fourth quarter. Capital World Investors now owns 12,613,371 shares of the financial services provider’s stock worth $3,264,359,000 after purchasing an additional 830,252 shares in the last quarter. State Street Corp raised its position in shares of Arthur J. Gallagher & Co. by 0.6% during the 4th quarter. State Street Corp now owns 10,953,598 shares of the financial services provider’s stock valued at $2,834,682,000 after purchasing an additional 62,518 shares during the period. Norges Bank bought a new position in Arthur J. Gallagher & Co. in the 4th quarter worth $1,925,062,000. Finally, T. Rowe Price Investment Management Inc. increased its stake in Arthur J. Gallagher & Co. by 123.5% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 5,887,538 shares of the financial services provider’s stock worth $1,523,636,000 after buying an additional 3,253,498 shares in the last quarter. 85.53% of the stock is currently owned by institutional investors.
Arthur J. Gallagher & Co. News Summary
Here are the key news stories impacting Arthur J. Gallagher & Co. this week:
- Positive Sentiment: Arthur J. Gallagher agreed to acquire Wilson M. Beck Insurance Services Inc., expanding its Canadian retail brokerage and commercial insurance footprint in Western Canada. Arthur J. Gallagher & Co. Acquires Wilson M. Beck Insurance Services Inc.
- Positive Sentiment: Wall Street expects Arthur J. Gallagher’s upcoming second-quarter earnings to show a double-digit profit increase, reinforcing optimism ahead of the report. Arthur J. Gallagher Earnings Preview: What to Expect
- Positive Sentiment: Keefe, Bruyette & Woods raised its price target on AJG to $261 from $242, signaling continued confidence in the stock’s valuation. Benzinga report on AJG price target raise
- Neutral Sentiment: Multiple market reports highlighted the same acquisition and earnings preview, suggesting the recent move is being driven more by sentiment and expectations than by any new operational surprise. AJG Grows Canada Commercial Insurance Business With WMB Acquisition
Arthur J. Gallagher & Co. Trading Up 0.8%
Arthur J. Gallagher & Co. (NYSE:AJG – Get Free Report) last announced its quarterly earnings results on Thursday, April 30th. The financial services provider reported $4.47 EPS for the quarter, beating analysts’ consensus estimates of $4.43 by $0.04. Arthur J. Gallagher & Co. had a return on equity of 12.83% and a net margin of 10.76%.The company had revenue of $4.71 billion during the quarter, compared to analyst estimates of $4.73 billion. During the same period in the prior year, the company earned $3.67 earnings per share. The firm’s revenue was up 29.0% on a year-over-year basis. Equities research analysts predict that Arthur J. Gallagher & Co. will post 13.23 EPS for the current fiscal year.
Arthur J. Gallagher & Co. Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Friday, June 19th. Investors of record on Friday, June 5th were issued a $0.70 dividend. The ex-dividend date of this dividend was Friday, June 5th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 1.1%. Arthur J. Gallagher & Co.’s dividend payout ratio (DPR) is 45.31%.
Analyst Ratings Changes
Several equities analysts have recently commented on AJG shares. Piper Sandler lowered their price objective on Arthur J. Gallagher & Co. from $226.00 to $211.00 and set a “neutral” rating on the stock in a research report on Friday, May 1st. Morgan Stanley lifted their target price on Arthur J. Gallagher & Co. from $240.00 to $255.00 and gave the company an “overweight” rating in a research note on Monday. UBS Group boosted their price target on Arthur J. Gallagher & Co. from $250.00 to $291.00 and gave the stock a “buy” rating in a report on Wednesday. Truist Financial cut their price objective on shares of Arthur J. Gallagher & Co. from $235.00 to $225.00 and set a “hold” rating for the company in a report on Friday, May 1st. Finally, Wells Fargo & Company reduced their price objective on shares of Arthur J. Gallagher & Co. from $273.00 to $266.00 and set an “overweight” rating on the stock in a research report on Thursday, April 9th. Thirteen research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $269.53.
View Our Latest Analysis on AJG
Insiders Place Their Bets
In related news, CAO Richard C. Cary sold 3,000 shares of the company’s stock in a transaction on Tuesday, June 2nd. The shares were sold at an average price of $206.00, for a total transaction of $618,000.00. Following the sale, the chief accounting officer owned 47,819 shares of the company’s stock, valued at $9,850,714. This represents a 5.90% 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. Corporate insiders own 1.40% of the company’s stock.
Arthur J. Gallagher & Co. Profile
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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