Fmr LLC Grows Stock Position in Arthur J. Gallagher & Co. (NYSE:AJG)

Fmr LLC increased its position in shares of Arthur J. Gallagher & Co. (NYSE:AJG) by 4.9% in the 3rd quarter, Holdings Channel reports. The firm owned 12,305,478 shares of the financial services provider’s stock after purchasing an additional 580,134 shares during the period. Fmr LLC owned 0.06% of Arthur J. Gallagher & Co. worth $3,462,392,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in AJG. Mark Sheptoff Financial Planning LLC purchased a new stake in shares of Arthur J. Gallagher & Co. during the second quarter worth $26,000. Strategic Investment Solutions Inc. IL acquired a new position in Arthur J. Gallagher & Co. during the second quarter worth about $26,000. Creekmur Asset Management LLC purchased a new stake in Arthur J. Gallagher & Co. during the 1st quarter valued at about $27,000. DiNuzzo Private Wealth Inc. raised its holdings in Arthur J. Gallagher & Co. by 89.7% in the 2nd quarter. DiNuzzo Private Wealth Inc. now owns 110 shares of the financial services provider’s stock valued at $29,000 after acquiring an additional 52 shares during the last quarter. Finally, Quarry LP purchased a new position in Arthur J. Gallagher & Co. in the 2nd quarter worth approximately $29,000. 85.53% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. Royal Bank of Canada increased their price target on Arthur J. Gallagher & Co. from $310.00 to $320.00 and gave the company an “outperform” rating in a report on Friday, September 20th. Bank of America raised their target price on Arthur J. Gallagher & Co. from $271.00 to $293.00 and gave the stock an “underperform” rating in a research note on Thursday, October 10th. Piper Sandler upped their price objective on shares of Arthur J. Gallagher & Co. from $254.00 to $293.00 and gave the company a “neutral” rating in a report on Friday, September 20th. Barclays boosted their target price on shares of Arthur J. Gallagher & Co. from $300.00 to $308.00 and gave the company an “equal weight” rating in a report on Thursday, November 21st. Finally, Truist Financial raised their price target on shares of Arthur J. Gallagher & Co. from $265.00 to $275.00 and gave the stock a “hold” rating in a report on Friday, September 20th. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, Arthur J. Gallagher & Co. presently has an average rating of “Hold” and a consensus price target of $291.64.

Insider Activity at Arthur J. Gallagher & Co.

In related news, President Michael Robert Pesch sold 7,100 shares of the business’s stock in a transaction on Friday, September 13th. The shares were sold at an average price of $296.20, for a total transaction of $2,103,020.00. Following the completion of the transaction, the president now owns 33,267 shares in the company, valued at approximately $9,853,685.40. The trade was a 17.59 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Douglas K. Howell sold 7,000 shares of the firm’s stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $284.68, for a total value of $1,992,760.00. Following the completion of the sale, the chief financial officer now owns 75,963 shares in the company, valued at approximately $21,625,146.84. This represents a 8.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 23,900 shares of company stock valued at $6,892,280 over the last 90 days. 1.60% of the stock is owned by corporate insiders.

Arthur J. Gallagher & Co. Stock Performance

NYSE:AJG opened at $306.45 on Tuesday. Arthur J. Gallagher & Co. has a 52 week low of $218.63 and a 52 week high of $308.00. The company has a fifty day simple moving average of $288.69 and a two-hundred day simple moving average of $277.60. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.64. The company has a market cap of $67.24 billion, a price-to-earnings ratio of 58.37, a price-to-earnings-growth ratio of 2.59 and a beta of 0.72.

Arthur J. Gallagher & Co. (NYSE:AJG) last released its earnings results on Thursday, October 24th. The financial services provider reported $2.26 EPS for the quarter, hitting the consensus estimate of $2.26. Arthur J. Gallagher & Co. had a return on equity of 19.12% and a net margin of 10.40%. The firm had revenue of $2.77 billion during the quarter, compared to analysts’ expectations of $2.78 billion. During the same period in the previous year, the firm posted $2.00 EPS. Arthur J. Gallagher & Co.’s revenue for the quarter was up 12.8% on a year-over-year basis. As a group, equities analysts anticipate that Arthur J. Gallagher & Co. will post 10.12 earnings per share for the current fiscal year.

Arthur J. Gallagher & Co. Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Friday, December 6th will be paid a dividend of $0.60 per share. The ex-dividend date is Friday, December 6th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 0.78%. Arthur J. Gallagher & Co.’s payout ratio is 45.71%.

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 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.