Choreo LLC Acquires Shares of 5,595 Arthur J. Gallagher & Co. (NYSE:AJG)

Choreo LLC acquired a new stake in Arthur J. Gallagher & Co. (NYSE:AJG) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 5,595 shares of the financial services provider’s stock, valued at approximately $1,258,000.

A number of other hedge funds and other institutional investors have also modified their holdings of AJG. FMR LLC increased its position in shares of Arthur J. Gallagher & Co. by 8.1% during the 3rd quarter. FMR LLC now owns 9,664,117 shares of the financial services provider’s stock worth $2,202,742,000 after purchasing an additional 726,485 shares during the last quarter. Bank Julius Baer & Co. Ltd Zurich increased its position in shares of Arthur J. Gallagher & Co. by 36,168.9% during the 3rd quarter. Bank Julius Baer & Co. Ltd Zurich now owns 357,974 shares of the financial services provider’s stock worth $81,593,000 after purchasing an additional 356,987 shares during the last quarter. Congress Asset Management Co. MA increased its position in shares of Arthur J. Gallagher & Co. by 7,923.4% during the 3rd quarter. Congress Asset Management Co. MA now owns 298,871 shares of the financial services provider’s stock worth $68,122,000 after purchasing an additional 295,146 shares during the last quarter. Envestnet Asset Management Inc. grew its position in Arthur J. Gallagher & Co. by 26.6% in the 3rd quarter. Envestnet Asset Management Inc. now owns 1,289,340 shares of the financial services provider’s stock valued at $293,879,000 after acquiring an additional 271,225 shares in the last quarter. Finally, Aviva PLC grew its position in Arthur J. Gallagher & Co. by 432.5% in the 3rd quarter. Aviva PLC now owns 260,673 shares of the financial services provider’s stock valued at $59,415,000 after acquiring an additional 211,716 shares in the last quarter. 85.53% of the stock is owned by institutional investors and hedge funds.

Arthur J. Gallagher & Co. Price Performance

Shares of NYSE AJG opened at $234.71 on Wednesday. The company has a current ratio of 1.05, a quick ratio of 1.03 and a debt-to-equity ratio of 0.70. Arthur J. Gallagher & Co. has a twelve month low of $198.52 and a twelve month high of $256.10. The stock has a 50 day moving average of $243.98 and a two-hundred day moving average of $239.00. The stock has a market cap of $51.24 billion, a P/E ratio of 47.51, a P/E/G ratio of 2.20 and a beta of 0.68.

Arthur J. Gallagher & Co. (NYSE:AJG) last issued its quarterly earnings data on Thursday, April 25th. The financial services provider reported $3.49 earnings per share for the quarter, beating analysts’ consensus estimates of $3.41 by $0.08. Arthur J. Gallagher & Co. had a return on equity of 18.94% and a net margin of 10.27%. The company had revenue of $3.22 billion during the quarter, compared to analysts’ expectations of $3.18 billion. During the same quarter in the previous year, the business earned $3.03 earnings per share. The firm’s revenue for the quarter was up 20.4% on a year-over-year basis. On average, research analysts forecast that Arthur J. Gallagher & Co. will post 10.06 earnings per share for the current year.

Arthur J. Gallagher & Co. Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 21st. Shareholders of record on Friday, June 7th will be paid a dividend of $0.60 per share. The ex-dividend date of this dividend is Friday, June 7th. This represents a $2.40 annualized dividend and a yield of 1.02%. Arthur J. Gallagher & Co.’s dividend payout ratio is presently 48.58%.

Insiders Place Their Bets

In other Arthur J. Gallagher & Co. news, Director David S. Johnson sold 500 shares of the company’s stock in a transaction dated Tuesday, February 6th. The stock was sold at an average price of $234.04, for a total transaction of $117,020.00. Following the completion of the sale, the director now directly owns 45,038 shares in the company, valued at $10,540,693.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, VP Thomas Joseph Gallagher sold 12,309 shares of the stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $237.65, for a total value of $2,925,233.85. Following the completion of the sale, the vice president now owns 322,797 shares in the company, valued at $76,712,707.05. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director David S. Johnson sold 500 shares of the firm’s stock in a transaction that occurred on Tuesday, February 6th. The shares were sold at an average price of $234.04, for a total value of $117,020.00. Following the sale, the director now owns 45,038 shares of the company’s stock, valued at approximately $10,540,693.52. The disclosure for this sale can be found here. Insiders sold 29,016 shares of company stock worth $7,176,180 over the last three months. 1.60% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on AJG. Keefe, Bruyette & Woods dropped their target price on Arthur J. Gallagher & Co. from $246.00 to $240.00 and set an “underperform” rating for the company in a research report on Wednesday, April 10th. Piper Sandler dropped their target price on Arthur J. Gallagher & Co. from $253.00 to $252.00 and set a “neutral” rating for the company in a research report on Monday. TD Cowen lifted their target price on Arthur J. Gallagher & Co. from $249.00 to $273.00 and gave the company a “hold” rating in a research report on Tuesday, April 2nd. Royal Bank of Canada lifted their target price on Arthur J. Gallagher & Co. from $270.00 to $282.00 and gave the company an “outperform” rating in a research report on Friday, March 22nd. Finally, Truist Financial reiterated a “hold” rating and issued a $255.00 price objective (down previously from $280.00) on shares of Arthur J. Gallagher & Co. in a research note on Wednesday, April 10th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $255.31.

Arthur J. Gallagher & Co. Company Profile

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 entities and individuals 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.