5,578 Arthur J. Gallagher & Co. $AJG Shares Bought by Maryland State Retirement & Pension System

Maryland State Retirement & Pension System grew its stake in shares of Arthur J. Gallagher & Co. (NYSE:AJG) by 40.4% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 19,382 shares of the financial services provider’s stock after purchasing an additional 5,578 shares during the period. Maryland State Retirement & Pension System’s holdings in Arthur J. Gallagher & Co. were worth $4,773,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in AJG. Triumph Capital Management lifted its stake in shares of Arthur J. Gallagher & Co. by 4,000.0% in the third quarter. Triumph Capital Management now owns 123 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 120 shares during the period. NFSG Corp grew its position in Arthur J. Gallagher & Co. by 4,033.3% during the third quarter. NFSG Corp now owns 124 shares of the financial services provider’s stock worth $28,000 after buying an additional 121 shares during the period. Axiom Investment Management LLC acquired a new position in Arthur J. Gallagher & Co. during the first quarter worth about $28,000. Cassaday & Co Wealth Management LLC purchased a new position in Arthur J. Gallagher & Co. in the first quarter valued at about $29,000. Finally, Physician Wealth Advisors Inc. increased its holdings in Arthur J. Gallagher & Co. by 57.4% in the third quarter. Physician Wealth Advisors Inc. now owns 148 shares of the financial services provider’s stock valued at $34,000 after buying an additional 54 shares in the last quarter. 85.53% of the stock is owned by institutional investors and hedge funds.

Arthur J. Gallagher & Co. Trading Down 1.6%

Shares of Arthur J. Gallagher & Co. stock opened at $277.40 on Friday. Arthur J. Gallagher & Co. has a 1 year low of $190.75 and a 1 year high of $294.53. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.05 and a quick ratio of 1.05. The business has a 50 day moving average price of $251.37 and a 200 day moving average price of $233.76. The company has a market capitalization of $71.12 billion, a P/E ratio of 42.42, a P/E/G ratio of 1.62 and a beta of 0.47.

Arthur J. Gallagher & Co. (NYSE:AJG) last announced its earnings results on Thursday, October 29th. The financial services provider reported $3.00 EPS for the quarter, beating analysts’ consensus estimates of $2.99 by $0.01. The firm had revenue of $3.92 billion for the quarter, compared to analysts’ expectations of $3.98 billion. Arthur J. Gallagher & Co. had a return on equity of 13.90% and a net margin of 10.39%. Arthur J. Gallagher & Co.’s quarterly revenue was up 19.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.32 EPS. Sell-side analysts anticipate that Arthur J. Gallagher & Co. will post 13.13 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 18th. Investors of record on Monday, December 7th will be paid a dividend of $0.70 per share. The ex-dividend date of this dividend is Monday, December 7th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 1.0%. Arthur J. Gallagher & Co.’s dividend payout ratio (DPR) is presently 42.81%.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on AJG shares. Cantor Fitzgerald reduced their price target on shares of Arthur J. Gallagher & Co. from $300.00 to $280.00 and set a “neutral” rating for the company in a research report on Wednesday, October 7th. Citigroup cut Arthur J. Gallagher & Co. from a “buy” rating to a “neutral” rating and upped their price target for the stock from $285.00 to $300.00 in a report on Monday, November 2nd. Piper Sandler reaffirmed an “overweight” rating on shares of Arthur J. Gallagher & Co. in a research note on Thursday, September 24th. Argus lifted their price objective on Arthur J. Gallagher & Co. from $267.00 to $300.00 and gave the stock a “buy” rating in a report on Monday, August 17th. Finally, Jefferies Financial Group boosted their target price on Arthur J. Gallagher & Co. from $295.00 to $319.00 and gave the stock a “buy” rating in a research report on Tuesday, November 3rd. Thirteen research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. Based on data from MarketBeat, Arthur J. Gallagher & Co. has an average rating of “Moderate Buy” and a consensus target price of $292.05.

Insider Buying and Selling at Arthur J. Gallagher & Co.

In related news, VP Christopher Mead sold 7,590 shares of Arthur J. Gallagher & Co. stock in a transaction dated Monday, November 2nd. The stock was sold at an average price of $279.72, for a total transaction of $2,123,074.80. Following the completion of the sale, the vice president owned 22,287 shares in the company, valued at approximately $6,234,119.64. This trade represents a 25.40% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP William Ziebell sold 23,510 shares of the business’s stock in a transaction dated Wednesday, November 4th. The shares were sold at an average price of $286.62, for a total transaction of $6,738,436.20. Following the completion of the transaction, the vice president directly owned 48,942 shares of the company’s stock, valued at $14,027,756.04. The trade was a 32.45% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 105,616 shares of company stock valued at $29,193,156. 1.40% of the stock is owned by company insiders.

Arthur J. Gallagher & Co. Company Profile

Arthur J. Gallagher & Co. is a global insurance brokerage and risk management services firm. It helps businesses and other organizations assess and manage risk, arrange insurance coverage, and address employee benefits needs. The company’s services include insurance brokerage, risk management consulting, employee benefits consulting, and claims and settlement services through its Gallagher Bassett business. It serves clients in the United States and internationally, including through a network of correspondent brokers.