Swiss National Bank grew its holdings in shares of Arthur J. Gallagher & Co. (NYSE:AJG – Free Report) by 7.3% in the 1st quarter, Holdings Channel.com reports. The institutional investor owned 753,660 shares of the financial services provider’s stock after purchasing an additional 51,040 shares during the period. Swiss National Bank’s holdings in Arthur J. Gallagher & Co. were worth $163,228,000 at the end of the most recent quarter.
Several other large investors also recently made changes to their positions in the business. IFP Advisors Inc lifted its holdings in shares of Arthur J. Gallagher & Co. by 1.4% during the 3rd quarter. IFP Advisors Inc now owns 3,064 shares of the financial services provider’s stock valued at $949,000 after acquiring an additional 41 shares in the last quarter. Ritholtz Wealth Management raised its position in Arthur J. Gallagher & Co. by 0.4% in the fourth quarter. Ritholtz Wealth Management now owns 10,061 shares of the financial services provider’s stock valued at $2,604,000 after purchasing an additional 45 shares during the period. CYBER HORNET ETFs LLC lifted its position in Arthur J. Gallagher & Co. by 7.8% during the 4th quarter. CYBER HORNET ETFs LLC now owns 634 shares of the financial services provider’s stock worth $164,000 after acquiring an additional 46 shares in the last quarter. SC&H Financial Advisors Inc. lifted its position in shares of Arthur J. Gallagher & Co. by 5.8% during the fourth quarter. SC&H Financial Advisors Inc. now owns 862 shares of the financial services provider’s stock worth $223,000 after purchasing an additional 47 shares in the last quarter. Finally, Allen Capital Group LLC lifted its holdings in Arthur J. Gallagher & Co. by 2.5% in the 4th quarter. Allen Capital Group LLC now owns 1,895 shares of the financial services provider’s stock worth $490,000 after buying an additional 47 shares in the last quarter. Institutional investors and hedge funds own 85.53% of the company’s stock.
Insider Activity at Arthur J. Gallagher & Co.
In other 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 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 1.40% of the company’s stock.
Arthur J. Gallagher & Co. Stock Up 0.2%
Arthur J. Gallagher & Co. (NYSE:AJG – Get Free Report) last posted its quarterly earnings results on Thursday, April 30th. The financial services provider reported $4.47 EPS for the quarter, beating the consensus estimate of $4.43 by $0.04. Arthur J. Gallagher & Co. had a net margin of 10.76% and a return on equity of 12.83%. The business had revenue of $4.71 billion during the quarter, compared to analyst estimates of $4.73 billion. During the same period in the previous year, the business posted $3.67 EPS. The company’s quarterly revenue was up 29.0% on a year-over-year basis. Research analysts predict that Arthur J. Gallagher & Co. will post 13.22 EPS for the current year.
Arthur J. Gallagher & Co. Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Friday, June 19th. Shareholders of record on Friday, June 5th were paid a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date was Friday, June 5th. Arthur J. Gallagher & Co.’s payout ratio is presently 45.31%.
Analyst Ratings Changes
Several analysts recently issued reports on AJG shares. Mizuho upped their price target on shares of Arthur J. Gallagher & Co. from $261.00 to $287.00 and gave the company an “outperform” rating in a report on Thursday, July 9th. Jefferies Financial Group raised shares of Arthur J. Gallagher & Co. from a “hold” rating to a “buy” rating and boosted their target price for the stock from $235.00 to $265.00 in a research report on Thursday, June 11th. Wells Fargo & Company upped their target price on shares of Arthur J. Gallagher & Co. from $271.00 to $299.00 and gave the company an “overweight” rating in a research note on Thursday, July 9th. BMO Capital Markets upgraded Arthur J. Gallagher & Co. from a “market perform” rating to an “outperform” rating and lifted their price target for the stock from $275.00 to $278.00 in a research note on Tuesday, March 24th. Finally, Weiss Ratings raised Arthur J. Gallagher & Co. from a “hold (c-)” rating to a “hold (c)” rating in a report on Monday, July 13th. Thirteen equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $280.35.
Read Our Latest Stock Report on Arthur J. Gallagher & Co.
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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