Boston Partners Increases Holdings in Arthur J. Gallagher & Co. $AJG

Boston Partners lifted its holdings in Arthur J. Gallagher & Co. (NYSE:AJG) by 0.4% in the second quarter, according to the company in its most recent filing with the SEC. The fund owned 735,759 shares of the financial services provider’s stock after acquiring an additional 2,806 shares during the quarter. Boston Partners owned 0.29% of Arthur J. Gallagher & Co. worth $234,226,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Factory Mutual Insurance Co. grew its stake in shares of Arthur J. Gallagher & Co. by 107.1% during the second quarter. Factory Mutual Insurance Co. now owns 14,500 shares of the financial services provider’s stock valued at $4,642,000 after buying an additional 7,500 shares during the last quarter. Ibex Wealth Advisors purchased a new stake in Arthur J. Gallagher & Co. during the 2nd quarter valued at about $1,084,000. Vise Technologies Inc. bought a new position in Arthur J. Gallagher & Co. during the 2nd quarter worth approximately $923,000. Allworth Financial LP increased its stake in Arthur J. Gallagher & Co. by 175.6% in the 2nd quarter. Allworth Financial LP now owns 10,855 shares of the financial services provider’s stock worth $3,475,000 after purchasing an additional 6,917 shares during the period. Finally, Fidelis Capital Partners LLC lifted its position in Arthur J. Gallagher & Co. by 2.9% in the second quarter. Fidelis Capital Partners LLC now owns 1,870 shares of the financial services provider’s stock valued at $599,000 after purchasing an additional 53 shares during the last quarter. Institutional investors own 85.53% of the company’s stock.

Insiders Place Their Bets

In other Arthur J. Gallagher & Co. news, CFO Douglas K. Howell sold 8,000 shares of the firm’s stock in a transaction that occurred on Monday, September 22nd. The shares were sold at an average price of $299.54, for a total transaction of $2,396,320.00. Following the completion of the transaction, the chief financial officer owned 100,777 shares of the company’s stock, valued at approximately $30,186,742.58. This trade represents a 7.35% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Michael Robert Pesch purchased 4,000 shares of the company’s stock in a transaction dated Monday, November 3rd. The stock was bought at an average cost of $247.12 per share, for a total transaction of $988,480.00. Following the completion of the transaction, the vice president owned 41,849 shares in the company, valued at approximately $10,341,724.88. This represents a 10.57% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Over the last quarter, insiders have sold 29,855 shares of company stock worth $8,916,928. 1.60% of the stock is currently owned by company insiders.

Arthur J. Gallagher & Co. Trading Up 1.5%

NYSE AJG opened at $254.85 on Wednesday. The firm has a market capitalization of $65.34 billion, a PE ratio of 36.20 and a beta of 0.71. The stock’s 50 day moving average is $287.48 and its 200 day moving average is $306.01. Arthur J. Gallagher & Co. has a twelve month low of $239.47 and a twelve month high of $351.23. The company has a quick ratio of 1.36, a current ratio of 1.36 and a debt-to-equity ratio of 0.52.

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

Arthur J. Gallagher & Co. Dividend Announcement

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

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on AJG shares. Erste Group Bank reiterated a “hold” rating on shares of Arthur J. Gallagher & Co. in a report on Wednesday, July 23rd. Evercore ISI lowered their price objective on shares of Arthur J. Gallagher & Co. from $370.00 to $353.00 and set an “outperform” rating for the company in a research note on Friday, October 31st. UBS Group increased their target price on shares of Arthur J. Gallagher & Co. from $322.00 to $329.00 and gave the stock a “neutral” rating in a report on Friday, September 19th. Piper Sandler reduced their price target on Arthur J. Gallagher & Co. from $340.00 to $295.00 and set an “overweight” rating on the stock in a report on Friday, October 31st. Finally, The Goldman Sachs Group dropped their price objective on Arthur J. Gallagher & Co. from $361.00 to $315.00 and set a “buy” rating for the company in a report on Friday, October 31st. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and eight have given a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $323.64.

Arthur J. Gallagher & Co. Profile

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.