Investment Management Corp of Ontario Acquires 10,782 Shares of Arthur J. Gallagher & Co. $AJG

Investment Management Corp of Ontario lifted its holdings in shares of Arthur J. Gallagher & Co. (NYSE:AJGFree Report) by 10.6% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 112,834 shares of the financial services provider’s stock after purchasing an additional 10,782 shares during the period. Investment Management Corp of Ontario’s holdings in Arthur J. Gallagher & Co. were worth $29,200,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Kemnay Advisory Services Inc. bought a new stake in shares of Arthur J. Gallagher & Co. during the 4th quarter valued at about $26,000. Rakuten Securities Inc. boosted its holdings in Arthur J. Gallagher & Co. by 650.0% in the second quarter. Rakuten Securities Inc. now owns 105 shares of the financial services provider’s stock worth $34,000 after acquiring an additional 91 shares in the last quarter. Financial Life Planners bought a new position in Arthur J. Gallagher & Co. in the third quarter worth approximately $39,000. Prosperity Bancshares Inc bought a new position in Arthur J. Gallagher & Co. in the fourth quarter worth approximately $42,000. Finally, Thurston Springer Miller Herd & Titak Inc. boosted its holdings in Arthur J. Gallagher & Co. by 668.2% in the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 169 shares of the financial services provider’s stock worth $44,000 after acquiring an additional 147 shares in the last quarter. Institutional investors own 85.53% of the company’s stock.

Arthur J. Gallagher & Co. Stock Performance

Shares of Arthur J. Gallagher & Co. stock opened at $216.21 on Thursday. The company has a market cap of $55.54 billion, a PE ratio of 34.99, a price-to-earnings-growth ratio of 1.09 and a beta of 0.52. Arthur J. Gallagher & Co. has a 52 week low of $190.75 and a 52 week high of $327.34. The business has a 50 day moving average price of $210.84 and a 200-day moving average price of $227.22. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.51.

Arthur J. Gallagher & Co. (NYSE:AJGGet Free Report) last issued 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. The company 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%.Arthur J. Gallagher & Co.’s revenue was up 29.0% on a year-over-year basis. During the same period last year, the business posted $3.67 earnings per share. Equities analysts anticipate that Arthur J. Gallagher & Co. will post 13.27 earnings per share for the current fiscal year.

Arthur J. Gallagher & Co. Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 19th. Investors of record on Friday, June 5th will be 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 is Friday, June 5th. Arthur J. Gallagher & Co.’s dividend payout ratio (DPR) is presently 45.31%.

Analyst Ratings Changes

Several research analysts have issued reports on the company. BMO Capital Markets upgraded Arthur J. Gallagher & Co. from a “market perform” rating to an “outperform” rating and increased their price target for the stock from $275.00 to $278.00 in a report on Tuesday, March 24th. Wall Street Zen upgraded Arthur J. Gallagher & Co. from a “sell” rating to a “hold” rating in a report on Saturday, February 21st. Truist Financial lowered their price objective on Arthur J. Gallagher & Co. from $235.00 to $225.00 and set a “hold” rating for the company in a research note on Friday, May 1st. Morgan Stanley lowered their price objective on Arthur J. Gallagher & Co. from $265.00 to $240.00 and set an “overweight” rating for the company in a research note on Thursday, May 21st. Finally, Royal Bank Of Canada started coverage on Arthur J. Gallagher & Co. in a research note on Tuesday, March 17th. They issued an “outperform” rating and a $260.00 price objective for the company. Thirteen research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat.com, Arthur J. Gallagher & Co. has an average rating of “Moderate Buy” and an average target price of $263.71.

Read Our Latest Report on AJG

Insider Activity at Arthur J. Gallagher & Co.

In related news, CAO Richard C. Cary sold 3,000 shares of the stock in a transaction that occurred 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 sale, the chief accounting officer directly owned 47,819 shares of the company’s stock, valued at approximately $9,850,714. This trade represents a 5.90% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 1.40% of the company’s stock.

Arthur J. Gallagher & Co. Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Arthur J. Gallagher & Co. (NYSE:AJG)

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