Arthur J. Gallagher & Co. $AJG Holdings Lifted by Amalgamated Bank

Amalgamated Bank boosted its holdings in Arthur J. Gallagher & Co. (NYSE:AJG) by 2.5% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 50,357 shares of the financial services provider’s stock after acquiring an additional 1,205 shares during the quarter. Amalgamated Bank’s holdings in Arthur J. Gallagher & Co. were worth $16,120,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Allspring Global Investments Holdings LLC boosted its holdings in Arthur J. Gallagher & Co. by 0.7% during the first quarter. Allspring Global Investments Holdings LLC now owns 11,280 shares of the financial services provider’s stock worth $3,879,000 after buying an additional 82 shares in the last quarter. Ameritas Advisory Services LLC acquired a new stake in shares of Arthur J. Gallagher & Co. during the 1st quarter valued at $204,000. Koshinski Asset Management Inc. bought a new stake in shares of Arthur J. Gallagher & Co. during the 1st quarter worth $316,000. Mather Group LLC. grew its holdings in shares of Arthur J. Gallagher & Co. by 2.4% in the 1st quarter. Mather Group LLC. now owns 2,438 shares of the financial services provider’s stock worth $842,000 after acquiring an additional 58 shares during the last quarter. Finally, Clear Creek Financial Management LLC acquired a new stake in shares of Arthur J. Gallagher & Co. during the first quarter worth $240,000. Institutional investors own 85.53% of the company’s stock.

Arthur J. Gallagher & Co. Stock Performance

Shares of AJG opened at $261.64 on Friday. The company’s 50 day moving average price is $295.76 and its 200 day moving average price is $310.88. Arthur J. Gallagher & Co. has a 52 week low of $261.04 and a 52 week high of $351.23. The company has a market capitalization of $67.08 billion, a PE ratio of 37.16 and a beta of 0.73. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.36 and a current ratio of 1.36.

Arthur J. Gallagher & Co. (NYSE:AJG) last announced its quarterly earnings data on Thursday, October 30th. The financial services provider reported $2.32 EPS for the quarter, missing analysts’ consensus estimates of $2.51 by ($0.19). Arthur J. Gallagher & Co. had a net margin of 14.54% and a return on equity of 13.17%. The company had revenue of $3.33 billion for the quarter, compared to analysts’ expectations of $3.34 billion. During the same period in the previous year, the firm posted $2.26 earnings per share. The business’s revenue for the quarter was up 20.2% on a year-over-year basis. Research analysts expect that Arthur J. Gallagher & Co. will post 11.54 EPS for the current fiscal year.

Arthur J. Gallagher & Co. Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 19th. Investors of record on Friday, December 5th will be given a dividend of $0.65 per share. The ex-dividend date of this dividend is Friday, December 5th. This represents a $2.60 dividend on an annualized basis and a yield of 1.0%. Arthur J. Gallagher & Co.’s payout ratio is presently 36.93%.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the company. Cantor Fitzgerald upgraded Arthur J. Gallagher & Co. to a “strong-buy” rating in a research report on Wednesday, August 13th. Piper Sandler reduced their price objective on shares of Arthur J. Gallagher & Co. from $352.00 to $340.00 and set an “overweight” rating for the company in a research note on Thursday, October 2nd. Citigroup initiated coverage on shares of Arthur J. Gallagher & Co. in a research report on Wednesday, August 13th. They issued a “neutral” rating and a $317.00 target price on the stock. Keefe, Bruyette & Woods lifted their target price on shares of Arthur J. Gallagher & Co. from $288.00 to $298.00 and gave the stock a “market perform” rating in a research report on Friday, September 19th. Finally, Wells Fargo & Company lifted their target price on shares of Arthur J. Gallagher & Co. from $365.00 to $366.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and eight have assigned a Hold rating to the company. Based on data from MarketBeat, Arthur J. Gallagher & Co. has an average rating of “Moderate Buy” and an average target price of $331.43.

Insider Activity

In other Arthur J. Gallagher & Co. news, CFO Douglas K. Howell sold 8,000 shares of the company’s stock in a transaction dated Monday, September 22nd. The stock was sold at an average price of $299.54, for a total value of $2,396,320.00. Following the transaction, the chief financial officer directly owned 100,777 shares of the company’s stock, valued at $30,186,742.58. This represents a 7.35% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Scott R. Hudson sold 12,855 shares of the company’s stock in a transaction dated Monday, September 8th. The stock was sold at an average price of $297.60, for a total value of $3,825,648.00. Following the completion of the transaction, the vice president directly owned 85,920 shares in the company, valued at approximately $25,569,792. The trade was a 13.01% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 29,855 shares of company stock worth $8,916,928. Insiders own 1.60% of the company’s stock.

About Arthur J. Gallagher & Co.

Arthur J. Gallagher & Co engages in the provision of insurance brokerage, reinsurance brokerage, consulting, and third-party claims settlement and administration services. It operates through the following segments: Brokerage, Risk Management, and Corporate. The Brokerage segment consists of retail and wholesale insurance brokerage operations.