Chilton Investment Co. Inc. Increases Position in Arthur J. Gallagher & Co. $AJG

Chilton Investment Co. Inc. boosted its holdings in Arthur J. Gallagher & Co. (NYSE:AJG) by 10.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 765,795 shares of the financial services provider’s stock after purchasing an additional 73,192 shares during the period. Arthur J. Gallagher & Co. comprises about 4.8% of Chilton Investment Co. Inc.’s portfolio, making the stock its 6th largest holding. Chilton Investment Co. Inc. owned 0.30% of Arthur J. Gallagher & Co. worth $237,197,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in AJG. Vanguard Group Inc. boosted its stake in shares of Arthur J. Gallagher & Co. by 2.3% during the 2nd quarter. Vanguard Group Inc. now owns 31,096,542 shares of the financial services provider’s stock worth $9,954,625,000 after buying an additional 685,278 shares during the last quarter. JPMorgan Chase & Co. increased its position in shares of Arthur J. Gallagher & Co. by 19.6% in the third quarter. JPMorgan Chase & Co. now owns 20,338,533 shares of the financial services provider’s stock valued at $6,299,674,000 after acquiring an additional 3,330,205 shares during the last quarter. Capital World Investors increased its position in shares of Arthur J. Gallagher & Co. by 0.9% in the third quarter. Capital World Investors now owns 11,783,119 shares of the financial services provider’s stock valued at $3,649,477,000 after acquiring an additional 101,298 shares during the last quarter. State Street Corp raised its holdings in Arthur J. Gallagher & Co. by 1.1% during the second quarter. State Street Corp now owns 10,743,493 shares of the financial services provider’s stock worth $3,439,207,000 after acquiring an additional 117,646 shares in the last quarter. Finally, Capital International Investors boosted its position in Arthur J. Gallagher & Co. by 0.6% during the third quarter. Capital International Investors now owns 7,194,743 shares of the financial services provider’s stock valued at $2,228,156,000 after purchasing an additional 45,256 shares during the last quarter. 85.53% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have weighed in on AJG shares. Barclays raised Arthur J. Gallagher & Co. from an “underweight” rating to an “overweight” rating and boosted their price target for the stock from $247.00 to $262.00 in a research report on Wednesday. The Goldman Sachs Group reissued a “buy” rating and issued a $292.00 target price on shares of Arthur J. Gallagher & Co. in a research note on Wednesday, January 7th. Wall Street Zen upgraded shares of Arthur J. Gallagher & Co. from a “sell” rating to a “hold” rating in a report on Saturday, February 21st. Truist Financial set a $271.00 price target on shares of Arthur J. Gallagher & Co. in a research note on Friday, January 30th. Finally, Needham & Company LLC set a $272.00 price objective on shares of Arthur J. Gallagher & Co. in a research report on Thursday, December 18th. Eight investment analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $282.65.

Arthur J. Gallagher & Co. Stock Performance

Shares of NYSE AJG opened at $207.86 on Friday. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 0.52. The company has a market capitalization of $53.44 billion, a P/E ratio of 33.80, a P/E/G ratio of 1.01 and a beta of 0.67. Arthur J. Gallagher & Co. has a 12 month low of $195.00 and a 12 month high of $351.23. The stock has a 50 day moving average of $234.93 and a 200-day moving average of $260.23.

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

Arthur J. Gallagher & Co. Increases Dividend

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

Insider Activity at Arthur J. Gallagher & Co.

In other Arthur J. Gallagher & Co. news, VP Christopher E. Mead sold 4,000 shares of the stock in a transaction dated Thursday, March 5th. The shares were sold at an average price of $227.12, for a total value of $908,480.00. Following the transaction, the vice president directly owned 19,306 shares of the company’s stock, valued at $4,384,778.72. This represents a 17.16% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Douglas K. Howell sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, December 22nd. The stock was sold at an average price of $258.05, for a total transaction of $1,290,250.00. Following the sale, the chief financial officer owned 95,777 shares of the company’s stock, valued at $24,715,254.85. This trade represents a 4.96% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 32,650 shares of company stock worth $8,137,686. 1.60% of the stock is 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.