Arthur J. Gallagher & Co. $AJG Shares Acquired by Public Sector Pension Investment Board

Public Sector Pension Investment Board lifted its position in shares of Arthur J. Gallagher & Co. (NYSE:AJG) by 35.4% during the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 71,304 shares of the financial services provider’s stock after buying an additional 18,637 shares during the period. Public Sector Pension Investment Board’s holdings in Arthur J. Gallagher & Co. were worth $22,086,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of AJG. Physician Wealth Advisors Inc. lifted its stake in shares of Arthur J. Gallagher & Co. by 870.0% during the 3rd quarter. Physician Wealth Advisors Inc. now owns 97 shares of the financial services provider’s stock worth $30,000 after purchasing an additional 87 shares during the period. Rakuten Securities Inc. lifted its position in Arthur J. Gallagher & Co. by 650.0% during the second quarter. Rakuten Securities Inc. now owns 105 shares of the financial services provider’s stock worth $34,000 after buying an additional 91 shares during the period. Central Pacific Bank Trust Division grew its holdings in Arthur J. Gallagher & Co. by 40.6% in the 3rd quarter. Central Pacific Bank Trust Division now owns 135 shares of the financial services provider’s stock valued at $42,000 after buying an additional 39 shares during the period. Westside Investment Management Inc. lifted its holdings in shares of Arthur J. Gallagher & Co. by 100.0% during the 3rd quarter. Westside Investment Management Inc. now owns 136 shares of the financial services provider’s stock worth $42,000 after acquiring an additional 68 shares during the period. Finally, Salomon & Ludwin LLC acquired a new stake in shares of Arthur J. Gallagher & Co. in the second quarter worth approximately $45,000. 85.53% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

AJG has been the topic of a number of recent analyst reports. Keefe, Bruyette & Woods cut their price target on shares of Arthur J. Gallagher & Co. from $279.00 to $249.00 and set a “market perform” rating on the stock in a research note on Friday, January 30th. Jefferies Financial Group dropped their price objective on Arthur J. Gallagher & Co. from $283.00 to $280.00 and set a “hold” rating for the company in a report on Monday, February 2nd. The Goldman Sachs Group reiterated a “buy” rating and issued a $292.00 target price on shares of Arthur J. Gallagher & Co. in a report on Wednesday, January 7th. TD Cowen reissued a “buy” rating on shares of Arthur J. Gallagher & Co. in a research report on Friday, October 31st. Finally, Piper Sandler cut their price objective on Arthur J. Gallagher & Co. from $272.00 to $249.00 and set a “neutral” rating on the stock in a report on Friday, January 30th. Six equities research analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $284.12.

Insider Activity

In other news, CFO Douglas K. Howell sold 5,000 shares of the company’s stock in a transaction on Monday, December 22nd. The shares were sold at an average price of $258.05, for a total value of $1,290,250.00. Following the completion of the transaction, the chief financial officer directly owned 95,777 shares in the company, valued at approximately $24,715,254.85. This represents a 4.96% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, General Counsel Walter D. Bay sold 15,850 shares of the firm’s stock in a transaction on Friday, December 19th. The shares were sold at an average price of $255.00, for a total transaction of $4,041,750.00. Following the sale, the general counsel directly owned 79,549 shares of the company’s stock, valued at approximately $20,284,995. The trade was a 16.61% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 32,100 shares of company stock valued at $8,243,865. 1.60% of the stock is currently owned by company insiders.

Arthur J. Gallagher & Co. Trading Up 1.7%

NYSE:AJG opened at $208.22 on Friday. The business’s 50-day moving average is $249.37 and its two-hundred day moving average is $270.81. The firm has a market capitalization of $53.47 billion, a PE ratio of 33.86, a price-to-earnings-growth ratio of 1.11 and a beta of 0.66. Arthur J. Gallagher & Co. has a 12 month low of $195.00 and a 12 month high of $351.23. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.06 and a quick ratio of 1.06.

Arthur J. Gallagher & Co. (NYSE:AJG) last posted its earnings results on Thursday, January 29th. The financial services provider reported $2.38 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.35 by $0.03. The business had revenue of $3.57 billion during the quarter, compared to analyst estimates of $3.61 billion. Arthur J. Gallagher & Co. had a return on equity of 12.13% and a net margin of 11.84%.The company’s revenue for the quarter was up 33.9% compared to the same quarter last year. During the same quarter last year, the firm earned $1.12 earnings per share. Research analysts predict that Arthur J. Gallagher & Co. will post 11.54 earnings per share for the current fiscal year.

Arthur J. Gallagher & Co. Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 20th. Stockholders of record on Friday, March 6th will be paid a dividend of $0.70 per share. This is an increase from Arthur J. Gallagher & Co.’s previous quarterly dividend of $0.65. This represents a $2.80 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date is Friday, March 6th. Arthur J. Gallagher & Co.’s payout ratio is 45.53%.

Arthur J. Gallagher & Co. Profile

Arthur J. Gallagher & Co is a global insurance brokerage and risk management firm headquartered in Rolling Meadows, Illinois. Founded in 1927 by Arthur J. Gallagher, the company has grown from a regional broker into an international professional services organization that arranges insurance, provides consulting and designs risk-transfer solutions for commercial, industrial, public sector and individual clients.

The company’s core activities include property and casualty insurance brokerage, employee benefits consulting and administration, and a range of risk management services.