Lido Advisors LLC increased its position in Arthur J. Gallagher & Co. (NYSE:AJG – Free Report) by 67.7% in the first quarter, HoldingsChannel reports. The firm owned 14,348 shares of the financial services provider’s stock after acquiring an additional 5,790 shares during the period. Lido Advisors LLC’s holdings in Arthur J. Gallagher & Co. were worth $3,108,000 at the end of the most recent quarter.
Other large investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings in shares of Arthur J. Gallagher & Co. by 0.7% in 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 raised its position in Arthur J. Gallagher & Co. by 7.0% during the fourth quarter. Capital World Investors now owns 12,613,371 shares of the financial services provider’s stock valued at $3,264,359,000 after buying an additional 830,252 shares during the period. State Street Corp lifted its stake in Arthur J. Gallagher & Co. by 0.6% in the 4th quarter. State Street Corp now owns 10,953,598 shares of the financial services provider’s stock worth $2,834,682,000 after acquiring an additional 62,518 shares in the last quarter. Norges Bank purchased a new stake in Arthur J. Gallagher & Co. in the 4th quarter worth about $1,925,062,000. Finally, T. Rowe Price Investment Management Inc. boosted its position in Arthur J. Gallagher & Co. by 123.5% during 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 acquiring an additional 3,253,498 shares during the period. 85.53% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
A number of equities analysts have recently weighed in on AJG shares. Keefe, Bruyette & Woods upped their target price on Arthur J. Gallagher & Co. from $242.00 to $261.00 and gave the company a “market perform” rating in a report on Wednesday, July 8th. Weiss Ratings upgraded shares of Arthur J. Gallagher & Co. from a “hold (c-)” rating to a “hold (c)” rating in a report on Monday, July 13th. Mizuho upped their price objective on shares of Arthur J. Gallagher & Co. from $261.00 to $287.00 and gave the company an “outperform” rating in a research note on Thursday, July 9th. Wells Fargo & Company increased their target price on shares of Arthur J. Gallagher & Co. from $271.00 to $299.00 and gave the stock an “overweight” rating in a research report on Thursday, July 9th. Finally, UBS Group lifted their target price on shares of Arthur J. Gallagher & Co. from $250.00 to $291.00 and gave the company a “buy” rating in a research note on Wednesday, July 8th. Thirteen equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $280.35.
Insider Activity
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 value of $618,000.00. Following the completion of the sale, the chief accounting officer directly owned 47,819 shares in the company, valued at approximately $9,850,714. This represents a 5.90% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 1.40% of the company’s stock.
Arthur J. Gallagher & Co. Stock Up 2.2%
Shares of Arthur J. Gallagher & Co. stock opened at $247.57 on Friday. The firm has a market cap of $63.60 billion, a price-to-earnings ratio of 40.06, a P/E/G ratio of 1.28 and a beta of 0.50. The stock has a 50-day simple moving average of $226.33 and a 200-day simple moving average of $225.22. Arthur J. Gallagher & Co. has a 52-week low of $190.75 and a 52-week high of $315.48. 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. (NYSE:AJG – Get Free Report) last issued its quarterly earnings data on Thursday, April 30th. The financial services provider reported $4.47 earnings per share for the quarter, beating the consensus estimate of $4.43 by $0.04. The firm had revenue of $4.71 billion for the quarter, compared to analyst estimates of $4.73 billion. Arthur J. Gallagher & Co. had a net margin of 10.76% and a return on equity of 12.83%. The company’s revenue for the quarter was up 29.0% on a year-over-year basis. During the same quarter last year, the firm earned $3.67 earnings per share. On average, equities research analysts expect that Arthur J. Gallagher & Co. will post 13.22 earnings per share for the current fiscal year.
Arthur J. Gallagher & Co. Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Friday, June 19th. Stockholders of record on Friday, June 5th were issued a dividend of $0.70 per share. The ex-dividend date 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 currently 45.31%.
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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