Prospector Partners LLC Has $807,000 Stock Position in Arthur J. Gallagher & Co. $AJG

Prospector Partners LLC lowered its holdings in shares of Arthur J. Gallagher & Co. (NYSE:AJG) by 93.1% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 3,120 shares of the financial services provider’s stock after selling 41,844 shares during the period. Arthur J. Gallagher & Co. comprises about 1.7% of Prospector Partners LLC’s portfolio, making the stock its 16th biggest holding. Prospector Partners LLC’s holdings in Arthur J. Gallagher & Co. were worth $807,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the business. Vanguard Group Inc. raised its holdings in shares of Arthur J. Gallagher & Co. by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 31,390,446 shares of the financial services provider’s stock worth $8,123,534,000 after buying an additional 217,136 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in shares of Arthur J. Gallagher & Co. by 19.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 20,338,533 shares of the financial services provider’s stock worth $6,299,674,000 after buying an additional 3,330,205 shares in the last quarter. Capital World Investors raised its holdings in shares of Arthur J. Gallagher & Co. by 7.0% during the 4th quarter. Capital World Investors now owns 12,613,371 shares of the financial services provider’s stock worth $3,264,359,000 after buying an additional 830,252 shares in the last quarter. State Street Corp increased its holdings in Arthur J. Gallagher & Co. by 0.6% in the 4th quarter. State Street Corp now owns 10,953,598 shares of the financial services provider’s stock worth $2,834,682,000 after purchasing an additional 62,518 shares in the last quarter. Finally, Norges Bank acquired a new position in Arthur J. Gallagher & Co. in the 4th quarter worth about $1,925,062,000. Institutional investors and hedge funds own 85.53% of the company’s stock.

Insider Activity

In other 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 completion of the transaction, the chief accounting officer directly 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.40% of the stock is owned by company insiders.

Arthur J. Gallagher & Co. Trading Down 0.1%

Shares of AJG stock opened at $218.53 on Monday. Arthur J. Gallagher & Co. has a 1-year low of $190.75 and a 1-year high of $327.34. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 0.51. The stock has a market cap of $56.14 billion, a price-to-earnings ratio of 35.36, a PEG ratio of 1.11 and a beta of 0.53. The stock has a 50-day moving average of $210.97 and a 200-day moving average of $227.92.

Arthur J. Gallagher & Co. (NYSE:AJG) last issued its quarterly earnings data on Thursday, April 30th. The financial services provider reported $4.47 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.43 by $0.04. Arthur J. Gallagher & Co. had a return on equity of 12.83% and a net margin of 10.76%.The company had revenue of $4.71 billion during the quarter, compared to the consensus estimate of $4.73 billion. During the same period last year, the company earned $3.67 earnings per share. The firm’s revenue was up 29.0% compared to the same quarter last year. On average, equities research analysts forecast that Arthur J. Gallagher & Co. will post 13.27 earnings per share for the current year.

Arthur J. Gallagher & Co. Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 19th. Stockholders of record on Friday, June 5th will be given a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date is Friday, June 5th. Arthur J. Gallagher & Co.’s dividend payout ratio (DPR) is 45.31%.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on AJG. Truist Financial lowered their target price on Arthur J. Gallagher & Co. from $235.00 to $225.00 and set a “hold” rating for the company in a report on Friday, May 1st. Piper Sandler lowered their target price on Arthur J. Gallagher & Co. from $226.00 to $211.00 and set a “neutral” rating for the company in a report on Friday, May 1st. Jefferies Financial Group raised Arthur J. Gallagher & Co. from a “hold” rating to a “buy” rating and upped their target price for the stock from $235.00 to $265.00 in a report on Thursday. BMO Capital Markets raised Arthur J. Gallagher & Co. from a “market perform” rating to an “outperform” rating and upped their target price for the stock from $275.00 to $278.00 in a report on Tuesday, March 24th. Finally, Keefe, Bruyette & Woods lowered their target price on Arthur J. Gallagher & Co. from $246.00 to $235.00 and set a “market perform” rating for the company in a report on Friday, May 1st. Thirteen equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $263.71.

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.