Federated Hermes Inc. boosted its holdings in shares of Arthur J. Gallagher & Co. (NYSE:AJG – Free Report) by 71.7% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 40,700 shares of the financial services provider’s stock after buying an additional 16,989 shares during the quarter. Federated Hermes Inc.’s holdings in Arthur J. Gallagher & Co. were worth $7,786,000 at the end of the most recent reporting period.
A number of other institutional investors also recently bought and sold shares of AJG. Compagnie Lombard Odier SCmA purchased a new position in Arthur J. Gallagher & Co. during the 1st quarter worth approximately $29,000. ZRC Wealth Management LLC purchased a new position in shares of Arthur J. Gallagher & Co. during the 1st quarter valued at approximately $29,000. Carderock Capital Management Inc. purchased a new position in shares of Arthur J. Gallagher & Co. during the 1st quarter valued at approximately $38,000. Clear Street Markets LLC increased its holdings in shares of Arthur J. Gallagher & Co. by 21,100.0% during the 4th quarter. Clear Street Markets LLC now owns 212 shares of the financial services provider’s stock valued at $40,000 after purchasing an additional 211 shares in the last quarter. Finally, Fred Alger Management LLC purchased a new stake in Arthur J. Gallagher & Co. in the 4th quarter worth $41,000. 85.55% of the stock is owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
Several brokerages have issued reports on AJG. StockNews.com initiated coverage on shares of Arthur J. Gallagher & Co. in a research note on Thursday, May 18th. They set a “hold” rating on the stock. Citigroup boosted their price objective on shares of Arthur J. Gallagher & Co. from $247.00 to $250.00 and gave the company a “buy” rating in a report on Friday, July 28th. Piper Sandler boosted their price objective on shares of Arthur J. Gallagher & Co. from $215.00 to $220.00 in a report on Friday, April 28th. Jefferies Financial Group boosted their price objective on shares of Arthur J. Gallagher & Co. from $238.00 to $245.00 in a report on Friday, June 16th. Finally, VNET Group restated a “maintains” rating on shares of Arthur J. Gallagher & Co. in a report on Tuesday, May 23rd. Four analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Arthur J. Gallagher & Co. currently has a consensus rating of “Moderate Buy” and a consensus price target of $229.08.
Get Our Latest Stock Analysis on AJG
Arthur J. Gallagher & Co. Trading Up 0.8 %
Shares of AJG stock opened at $224.37 on Monday. The company has a quick ratio of 1.06, a current ratio of 1.04 and a debt-to-equity ratio of 0.58. The stock has a market cap of $48.35 billion, a P/E ratio of 43.74, a P/E/G ratio of 2.07 and a beta of 0.70. Arthur J. Gallagher & Co. has a fifty-two week low of $167.93 and a fifty-two week high of $226.58. The business has a fifty day simple moving average of $215.11 and a 200-day simple moving average of $203.63.
Arthur J. Gallagher & Co. (NYSE:AJG – Get Free Report) last issued its quarterly earnings results on Thursday, July 27th. The financial services provider reported $1.90 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.86 by $0.04. The firm had revenue of $2.44 billion for the quarter, compared to analyst estimates of $2.36 billion. Arthur J. Gallagher & Co. had a return on equity of 18.65% and a net margin of 12.11%. The firm’s quarterly revenue was up 19.5% on a year-over-year basis. During the same period last year, the company earned $1.70 EPS. On average, analysts forecast that Arthur J. Gallagher & Co. will post 8.75 earnings per share for the current fiscal year.
Arthur J. Gallagher & Co. Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Friday, September 1st will be issued a $0.55 dividend. The ex-dividend date is Thursday, August 31st. This represents a $2.20 dividend on an annualized basis and a dividend yield of 0.98%. Arthur J. Gallagher & Co.’s dividend payout ratio (DPR) is 42.88%.
Insider Activity
In related news, Director David S. Johnson sold 1,000 shares of the business’s stock in a transaction that occurred on Friday, June 16th. The stock was sold at an average price of $216.40, for a total transaction of $216,400.00. Following the completion of the transaction, the director now owns 46,538 shares in the company, valued at approximately $10,070,823.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director David S. Johnson sold 1,000 shares of the business’s stock in a transaction on Friday, June 16th. The stock was sold at an average price of $216.40, for a total value of $216,400.00. Following the sale, the director now owns 46,538 shares of the company’s stock, valued at approximately $10,070,823.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Joel D. Cavaness sold 2,750 shares of the business’s stock in a transaction on Thursday, June 8th. The stock was sold at an average price of $204.23, for a total value of $561,632.50. Following the sale, the vice president now directly owns 2,023 shares in the company, valued at $413,157.29. The disclosure for this sale can be found here. Company insiders own 1.60% of the company’s stock.
About Arthur J. Gallagher & Co.
Arthur J. Gallagher & Co, together with its subsidiaries, provides insurance and reinsurance brokerage, consulting, and third-party property/casualty claims settlement and administration services to businesses and organizations worldwide. It operates in Brokerage and Risk Management segments. The Brokerage segment offers retail and wholesale insurance and reinsurance brokerage services; assists retail brokers and other non-affiliated brokers in the placement of specialized and hard-to-place insurance; and acts as a brokerage wholesaler, managing general agent, and managing general underwriter for distributing specialized insurance coverages to underwriting enterprises.
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