Woodley Farra Manion Portfolio Management Inc. cut its position in shares of Arthur J. Gallagher & Co. (NYSE:AJG – Free Report) by 14.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 270,463 shares of the financial services provider’s stock after selling 47,467 shares during the period. Arthur J. Gallagher & Co. accounts for 3.5% of Woodley Farra Manion Portfolio Management Inc.’s portfolio, making the stock its 8th largest holding. Woodley Farra Manion Portfolio Management Inc. owned 0.13% of Arthur J. Gallagher & Co. worth $51,742,000 at the end of the most recent reporting period.
Other institutional investors also recently modified their holdings of the company. WealthPlan Investment Management LLC bought a new stake in shares of Arthur J. Gallagher & Co. during the 1st quarter worth approximately $28,000. Compagnie Lombard Odier SCmA acquired a new position in Arthur J. Gallagher & Co. in the 1st quarter valued at approximately $29,000. ZRC Wealth Management LLC bought a new stake in shares of Arthur J. Gallagher & Co. in the 1st quarter valued at $29,000. Carderock Capital Management Inc. bought a new stake in shares of Arthur J. Gallagher & Co. in the 1st quarter valued at $38,000. Finally, Clear Street Markets LLC boosted its stake in shares of Arthur J. Gallagher & Co. by 21,100.0% in 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 during the last quarter. 85.55% of the stock is currently owned by institutional investors and hedge funds.
Arthur J. Gallagher & Co. Stock Up 0.4 %
NYSE AJG traded up $0.90 on Friday, reaching $221.38. The stock had a trading volume of 286,937 shares, compared to its average volume of 859,654. The business has a 50 day moving average price of $216.59 and a 200 day moving average price of $204.34. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.58. Arthur J. Gallagher & Co. has a 1 year low of $167.93 and a 1 year high of $227.34. The company has a market capitalization of $47.71 billion, a price-to-earnings ratio of 42.98, a P/E/G ratio of 2.07 and a beta of 0.70.
Arthur J. Gallagher & Co. (NYSE:AJG – Get Free Report) last released its quarterly earnings results on Thursday, July 27th. The financial services provider reported $1.90 EPS for the quarter, topping analysts’ consensus estimates of $1.86 by $0.04. The business 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%. Arthur J. Gallagher & Co.’s revenue for the quarter was up 19.5% on a year-over-year basis. During the same period in the prior year, the company earned $1.70 EPS. On average, analysts forecast that Arthur J. Gallagher & Co. will post 8.75 EPS for the current fiscal year.
Arthur J. Gallagher & Co. Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Friday, September 1st will be given a dividend of $0.55 per share. The ex-dividend date of this dividend is Thursday, August 31st. This represents a $2.20 dividend on an annualized basis and a yield of 0.99%. Arthur J. Gallagher & Co.’s dividend payout ratio (DPR) is presently 42.88%.
Insiders Place Their Bets
In other news, VP Joel D. Cavaness sold 2,750 shares of the 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 transaction, the vice president now owns 2,023 shares of the company’s stock, valued at approximately $413,157.29. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Arthur J. Gallagher & Co. news, Director David S. Johnson sold 1,000 shares of the firm’s stock in a transaction that occurred on Friday, June 16th. The shares were sold at an average price of $216.40, for a total transaction of $216,400.00. Following the completion of the sale, the director now directly owns 46,538 shares in the company, valued at $10,070,823.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Joel D. Cavaness sold 2,750 shares of the firm’s stock in a transaction that occurred on Thursday, June 8th. The stock was sold at an average price of $204.23, for a total transaction of $561,632.50. Following the sale, the vice president now owns 2,023 shares of the company’s stock, valued at $413,157.29. The disclosure for this sale can be found here. Company insiders own 1.60% of the company’s stock.
Analyst Ratings Changes
Several equities analysts have recently weighed in on the stock. Evercore ISI lifted their target price on shares of Arthur J. Gallagher & Co. from $231.00 to $233.00 in a research note on Friday, June 16th. StockNews.com assumed coverage on shares of Arthur J. Gallagher & Co. in a research note on Thursday. They set a “hold” rating on the stock. Royal Bank of Canada lifted their price objective on shares of Arthur J. Gallagher & Co. from $225.00 to $230.00 in a research note on Friday, April 28th. Piper Sandler upped their price objective on shares of Arthur J. Gallagher & Co. from $215.00 to $220.00 in a report on Friday, April 28th. Finally, Argus increased their target price on Arthur J. Gallagher & Co. from $228.00 to $232.00 in a research report on Monday, May 1st. Four equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $229.08.
Get Our Latest Report on Arthur J. Gallagher & Co.
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.
Featured Stories
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider Arthur J. Gallagher & Co., you’ll want to hear this.
MarketBeat keeps track of Wall Street’s top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on… and Arthur J. Gallagher & Co. wasn’t on the list.
While Arthur J. Gallagher & Co. currently has a “Moderate Buy” rating among analysts, top-rated analysts believe these five stocks are better buys.
Looking to generate income with your stock portfolio? Use these ten stocks to generate a safe and reliable source of investment income.
