Hamilton Point Investment Advisors LLC acquired a new position in shares of Arthur J. Gallagher & Co. (NYSE:AJG – Free Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 34,294 shares of the financial services provider’s stock, valued at approximately $7,427,000. Arthur J. Gallagher & Co. comprises about 1.1% of Hamilton Point Investment Advisors LLC’s portfolio, making the stock its 28th largest holding.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in AJG. Kemnay Advisory Services Inc. bought a new position in Arthur J. Gallagher & Co. in the fourth quarter valued at $26,000. MV Capital Management Inc. bought a new stake in Arthur J. Gallagher & Co. during the fourth quarter worth about $34,000. Rakuten Securities Inc. boosted its holdings in shares of Arthur J. Gallagher & Co. by 650.0% in the 2nd quarter. Rakuten Securities Inc. now owns 105 shares of the financial services provider’s stock worth $34,000 after purchasing an additional 91 shares in the last quarter. Avalon Trust Co bought a new position in shares of Arthur J. Gallagher & Co. during the 1st quarter valued at about $40,000. Finally, Prosperity Bancshares Inc purchased a new position in shares of Arthur J. Gallagher & Co. during the 4th quarter valued at about $42,000. 85.53% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Ratings Changes
A number of research firms recently weighed in on AJG. Wolfe Research lowered Arthur J. Gallagher & Co. from an “outperform” rating to a “peer perform” rating in a research note on Thursday, July 9th. Truist Financial decreased their price target on shares of Arthur J. Gallagher & Co. from $235.00 to $225.00 and set a “hold” rating on the stock in a research note on Friday, May 1st. Mizuho boosted their price objective on shares of Arthur J. Gallagher & Co. from $261.00 to $287.00 and gave the stock an “outperform” rating in a report on Thursday, July 9th. Piper Sandler raised shares of Arthur J. Gallagher & Co. from a “neutral” rating to an “overweight” rating and upped their price objective for the company from $225.00 to $276.00 in a research note on Wednesday. Finally, Weiss Ratings raised shares of Arthur J. Gallagher & Co. from a “hold (c-)” rating to a “hold (c)” rating in a report on Monday. Thirteen equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $280.35.
Arthur J. Gallagher & Co. Trading Down 0.6%
Shares of AJG stock opened at $254.36 on Friday. The business has a 50-day moving average of $221.35 and a 200 day moving average of $225.67. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.06 and a quick ratio of 1.06. Arthur J. Gallagher & Co. has a 1-year low of $190.75 and a 1-year high of $316.71. The stock has a market capitalization of $65.35 billion, a PE ratio of 41.16, a P/E/G ratio of 1.32 and a beta of 0.50.
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, topping 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 business had revenue of $4.71 billion for the quarter, compared to analysts’ expectations of $4.73 billion. During the same period in the previous year, the firm earned $3.67 EPS. The business’s quarterly revenue was up 29.0% on a year-over-year basis. As a group, sell-side analysts anticipate that Arthur J. Gallagher & Co. will post 13.22 earnings per share for the current year.
Arthur J. Gallagher & Co. Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Friday, June 19th. Investors of record on Friday, June 5th were paid a $0.70 dividend. This represents a $2.80 annualized dividend and a dividend yield of 1.1%. The ex-dividend date of this dividend was Friday, June 5th. Arthur J. Gallagher & Co.’s payout ratio is presently 45.31%.
Insider Buying and Selling
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 completion of the sale, the chief accounting officer directly owned 47,819 shares in the company, valued at $9,850,714. This represents a 5.90% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 1.40% of the stock is owned by corporate insiders.
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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