Sterling Capital Management LLC cut its stake in shares of Arthur J. Gallagher & Co. (NYSE:AJG – Free Report) by 86.5% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 841 shares of the financial services provider’s stock after selling 5,408 shares during the quarter. Sterling Capital Management LLC’s holdings in Arthur J. Gallagher & Co. were worth $182,000 as of its most recent SEC filing.
Several other hedge funds have also recently made changes to their positions in the company. Kemnay Advisory Services Inc. acquired a new position in shares of Arthur J. Gallagher & Co. in the fourth quarter valued at about $26,000. MV Capital Management Inc. acquired a new position in Arthur J. Gallagher & Co. in the 4th quarter worth approximately $34,000. Rakuten Securities Inc. raised its position in Arthur J. Gallagher & Co. by 650.0% during the 2nd quarter. Rakuten Securities Inc. now owns 105 shares of the financial services provider’s stock worth $34,000 after buying an additional 91 shares during the last quarter. Financial Life Planners acquired a new stake in Arthur J. Gallagher & Co. during the 3rd quarter valued at approximately $39,000. Finally, Prosperity Bancshares Inc acquired a new stake in shares of Arthur J. Gallagher & Co. in the fourth quarter worth $42,000. 85.53% of the stock is owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
Several research firms have commented on AJG. Truist Financial lowered 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 report on Friday, May 1st. Weiss Ratings reissued a “hold (c-)” rating on shares of Arthur J. Gallagher & Co. in a report on Monday, June 15th. Royal Bank Of Canada started coverage on Arthur J. Gallagher & Co. in a report on Tuesday, March 17th. They set an “outperform” rating and a $260.00 target price on the stock. UBS Group reissued a “buy” rating on shares of Arthur J. Gallagher & Co. in a report on Thursday, June 18th. Finally, Mizuho dropped their price objective on shares of Arthur J. Gallagher & Co. from $260.00 to $259.00 and set an “outperform” rating on the stock in a research note on Monday, April 13th. Thirteen equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $266.00.
Insider Buying and Selling
In other Arthur J. Gallagher & Co. news, CAO Richard C. Cary sold 3,000 shares of the firm’s stock in a transaction on Tuesday, June 2nd. The stock was sold at an average price of $206.00, for a total value of $618,000.00. Following the transaction, the chief accounting officer owned 47,819 shares in the company, valued at approximately $9,850,714. This trade represents a 5.90% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 1.40% of the company’s stock.
Arthur J. Gallagher & Co. Price Performance
Shares of Arthur J. Gallagher & Co. stock traded up $3.83 on Tuesday, reaching $253.60. The company’s stock had a trading volume of 118,778 shares, compared to its average volume of 2,152,081. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.51. The company has a market capitalization of $65.15 billion, a P/E ratio of 41.04, a PEG ratio of 1.28 and a beta of 0.50. The stock has a 50-day moving average price of $212.84 and a 200-day moving average price of $225.61. Arthur J. Gallagher & Co. has a 52-week low of $190.75 and a 52-week high of $316.89.
Arthur J. Gallagher & Co. (NYSE:AJG – Get Free Report) last released its quarterly earnings results on Thursday, April 30th. The financial services provider reported $4.47 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.43 by $0.04. The firm had revenue of $4.71 billion for the quarter, compared to analysts’ expectations of $4.73 billion. Arthur J. Gallagher & Co. had a net margin of 10.76% and a return on equity of 12.83%. The firm’s revenue for the quarter was up 29.0% compared to the same quarter last year. During the same quarter last year, the company earned $3.67 EPS. Analysts expect that Arthur J. Gallagher & Co. will post 13.23 EPS for the current year.
Arthur J. Gallagher & Co. Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Friday, June 19th. Shareholders of record on Friday, June 5th were paid a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 1.1%. The ex-dividend date was Friday, June 5th. Arthur J. Gallagher & Co.’s payout ratio is 45.31%.
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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