Capital Group Investment Management PTE. LTD. Buys 5,596 Shares of Arthur J. Gallagher & Co. $AJG

Capital Group Investment Management PTE. LTD. boosted its stake in shares of Arthur J. Gallagher & Co. (NYSE:AJG) by 48.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 17,071 shares of the financial services provider’s stock after purchasing an additional 5,596 shares during the quarter. Capital Group Investment Management PTE. LTD.’s holdings in Arthur J. Gallagher & Co. were worth $4,418,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Dearborn Partners LLC boosted its position in shares of Arthur J. Gallagher & Co. by 6.3% in the fourth quarter. Dearborn Partners LLC now owns 133,936 shares of the financial services provider’s stock valued at $34,661,000 after acquiring an additional 7,946 shares during the period. Nemes Rush Group LLC boosted its position in shares of Arthur J. Gallagher & Co. by 35.4% in the fourth quarter. Nemes Rush Group LLC now owns 390 shares of the financial services provider’s stock valued at $101,000 after acquiring an additional 102 shares during the period. PBU The Pension Fund of Early Childhood & Youth Educators bought a new stake in shares of Arthur J. Gallagher & Co. in the fourth quarter valued at about $9,377,000. Vise Technologies Inc. boosted its position in shares of Arthur J. Gallagher & Co. by 142.6% in the fourth quarter. Vise Technologies Inc. now owns 5,577 shares of the financial services provider’s stock valued at $1,443,000 after acquiring an additional 3,278 shares during the period. Finally, Daiwa Securities Group Inc. boosted its position in shares of Arthur J. Gallagher & Co. by 2.4% in the fourth quarter. Daiwa Securities Group Inc. now owns 58,643 shares of the financial services provider’s stock valued at $15,176,000 after acquiring an additional 1,402 shares during the period. 85.53% of the stock is owned by institutional investors.

Arthur J. Gallagher & Co. Trading Up 2.6%

AJG opened at $216.58 on Friday. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.51. The stock has a market capitalization of $55.64 billion, a price-to-earnings ratio of 35.05, a P/E/G ratio of 1.09 and a beta of 0.52. Arthur J. Gallagher & Co. has a twelve month low of $190.75 and a twelve month high of $330.78. The company has a 50-day simple moving average of $210.49 and a 200 day simple moving average of $229.29.

Arthur J. Gallagher & Co. (NYSE:AJG) last issued its earnings results on Thursday, April 30th. The financial services provider reported $4.47 EPS for the quarter, topping the consensus estimate of $4.43 by $0.04. The firm had revenue of $4.71 billion during the quarter, compared to the consensus estimate of $4.73 billion. Arthur J. Gallagher & Co. had a return on equity of 12.83% and a net margin of 10.76%.The business’s quarterly revenue was up 29.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $3.67 earnings per share. Analysts predict that Arthur J. Gallagher & Co. will post 13.27 EPS for the current fiscal year.

Arthur J. Gallagher & Co. Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 19th. Shareholders of record on Friday, June 5th will be paid a dividend of $0.70 per share. The ex-dividend date of this dividend is Friday, June 5th. This represents a $2.80 annualized dividend and a yield of 1.3%. Arthur J. Gallagher & Co.’s payout ratio is presently 45.31%.

Wall Street Analysts Forecast Growth

AJG has been the subject of a number of recent research reports. Keefe, Bruyette & Woods reduced their target price on shares of Arthur J. Gallagher & Co. from $246.00 to $235.00 and set a “market perform” rating for the company in a research report on Friday, May 1st. BMO Capital Markets raised shares of Arthur J. Gallagher & Co. from a “market perform” rating to an “outperform” rating and upped their price objective for the stock from $275.00 to $278.00 in a research report on Tuesday, March 24th. Piper Sandler cut their price objective on shares of Arthur J. Gallagher & Co. from $226.00 to $211.00 and set a “neutral” rating for the company in a research report on Friday, May 1st. Royal Bank Of Canada assumed coverage on shares of Arthur J. Gallagher & Co. in a research report on Tuesday, March 17th. They set an “outperform” rating and a $260.00 price objective for the company. Finally, Mizuho cut their price objective on shares of Arthur J. Gallagher & Co. from $260.00 to $259.00 and set an “outperform” rating for the company in a research report on Monday, April 13th. Eleven equities research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. According to data from MarketBeat, Arthur J. Gallagher & Co. currently has a consensus rating of “Moderate Buy” and a consensus target price of $264.00.

Insider Buying and Selling

In other Arthur J. Gallagher & Co. news, CAO Richard C. Cary sold 3,000 shares of the business’s stock in a transaction dated Tuesday, June 2nd. The stock was sold at an average price of $206.00, for a total transaction of $618,000.00. Following the completion of the transaction, the chief accounting officer owned 47,819 shares of the company’s stock, valued at approximately $9,850,714. The trade was a 5.90% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 1.40% of the company’s stock.

About Arthur J. Gallagher & Co.

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.