Smithbridge Asset Management Inc. DE Has $7.05 Million Stock Holdings in Arthur J. Gallagher & Co. $AJG

Smithbridge Asset Management Inc. DE lessened its holdings in Arthur J. Gallagher & Co. (NYSE:AJG) by 50.0% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 32,547 shares of the financial services provider’s stock after selling 32,547 shares during the period. Smithbridge Asset Management Inc. DE’s holdings in Arthur J. Gallagher & Co. were worth $7,049,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of AJG. Balentine LLC acquired a new position in Arthur J. Gallagher & Co. in the 1st quarter worth about $443,000. Fulton Bank N.A. boosted its position in Arthur J. Gallagher & Co. by 8.9% during the first quarter. Fulton Bank N.A. now owns 1,415 shares of the financial services provider’s stock valued at $306,000 after acquiring an additional 116 shares during the last quarter. USS Investment Management Ltd grew its stake in Arthur J. Gallagher & Co. by 5.4% during the first quarter. USS Investment Management Ltd now owns 43,626 shares of the financial services provider’s stock worth $9,449,000 after purchasing an additional 2,233 shares during the period. IFM Investors Pty Ltd grew its position in shares of Arthur J. Gallagher & Co. by 5.2% during the 1st quarter. IFM Investors Pty Ltd now owns 50,353 shares of the financial services provider’s stock worth $10,905,000 after buying an additional 2,484 shares during the period. Finally, Wendell David Associates Inc. grew its holdings in Arthur J. Gallagher & Co. by 8.0% in the first quarter. Wendell David Associates Inc. now owns 21,164 shares of the financial services provider’s stock worth $4,584,000 after purchasing an additional 1,562 shares during the period. 85.53% of the stock is currently owned by institutional investors and hedge funds.

Arthur J. Gallagher & Co. Trading Up 4.2%

Shares of Arthur J. Gallagher & Co. stock opened at $239.16 on Thursday. The company’s 50-day moving average price is $211.04 and its 200-day moving average price is $225.67. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 0.51. Arthur J. Gallagher & Co. has a 12-month low of $190.75 and a 12-month high of $320.00. The company has a market cap of $61.44 billion, a price-to-earnings ratio of 38.70, a PEG ratio of 1.17 and a beta of 0.50.

Arthur J. Gallagher & Co. (NYSE:AJG) last released its quarterly earnings results on Thursday, April 30th. The financial services provider reported $4.47 earnings per share for the quarter, topping the consensus estimate of $4.43 by $0.04. The firm had revenue of $4.71 billion for the quarter, compared to analysts’ expectations of $4.73 billion. Arthur J. Gallagher & Co. had a net margin of 10.76% and a return on equity of 12.83%. The business’s quarterly revenue was up 29.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $3.67 earnings per share. On average, equities analysts expect that Arthur J. Gallagher & Co. will post 13.23 earnings per share for the current fiscal year.

Arthur J. Gallagher & Co. Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 19th. Stockholders of record on Friday, June 5th were issued a $0.70 dividend. The ex-dividend date of this dividend was Friday, June 5th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 1.2%. Arthur J. Gallagher & Co.’s dividend payout ratio is presently 45.31%.

Analyst Ratings Changes

AJG has been the subject of a number of research reports. Citigroup raised Arthur J. Gallagher & Co. from a “neutral” rating to a “buy” rating and reduced their price objective for the company from $280.00 to $250.00 in a research note on Wednesday, May 6th. Piper Sandler cut their price objective on shares of Arthur J. Gallagher & Co. from $226.00 to $211.00 and set a “neutral” rating on the stock in a report on Friday, May 1st. BMO Capital Markets upgraded shares of Arthur J. Gallagher & Co. from a “market perform” rating to an “outperform” rating and increased their price objective for the company from $275.00 to $278.00 in a research note on Tuesday, March 24th. Jefferies Financial Group upgraded Arthur J. Gallagher & Co. from a “hold” rating to a “buy” rating and lifted their target price for the stock from $235.00 to $265.00 in a research note on Thursday, June 11th. Finally, Royal Bank Of Canada started coverage on Arthur J. Gallagher & Co. in a report on Tuesday, March 17th. They set an “outperform” rating and a $260.00 price objective for the company. Thirteen equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $264.12.

Insider Buying and Selling

In other Arthur J. Gallagher & Co. news, CAO Richard C. Cary sold 3,000 shares of the firm’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 sale, the chief accounting officer owned 47,819 shares in the company, valued at $9,850,714. This trade represents a 5.90% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.40% of the stock is currently owned by corporate insiders.

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.