Pictet Asset Management Holding SA Reduces Holdings in Arthur J. Gallagher & Co. $AJG

Pictet Asset Management Holding SA lessened its holdings in Arthur J. Gallagher & Co. (NYSE:AJG) by 28.4% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 110,629 shares of the financial services provider’s stock after selling 43,775 shares during the period. Pictet Asset Management Holding SA’s holdings in Arthur J. Gallagher & Co. were worth $23,960,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of the stock. IFP Advisors Inc grew its holdings in Arthur J. Gallagher & Co. by 1.4% during the 3rd quarter. IFP Advisors Inc now owns 3,064 shares of the financial services provider’s stock valued at $949,000 after buying an additional 41 shares during the last quarter. Journey Strategic Wealth LLC lifted its position in shares of Arthur J. Gallagher & Co. by 2.9% in the third quarter. Journey Strategic Wealth LLC now owns 1,551 shares of the financial services provider’s stock valued at $480,000 after acquiring an additional 43 shares in the last quarter. KCM Investment Advisors LLC boosted its stake in shares of Arthur J. Gallagher & Co. by 4.1% during the third quarter. KCM Investment Advisors LLC now owns 1,127 shares of the financial services provider’s stock valued at $349,000 after acquiring an additional 44 shares during the last quarter. Ritholtz Wealth Management grew its holdings in shares of Arthur J. Gallagher & Co. by 0.4% during the fourth quarter. Ritholtz Wealth Management now owns 10,061 shares of the financial services provider’s stock worth $2,604,000 after buying an additional 45 shares in the last quarter. Finally, CYBER HORNET ETFs LLC raised its holdings in Arthur J. Gallagher & Co. by 7.8% in the 4th quarter. CYBER HORNET ETFs LLC now owns 634 shares of the financial services provider’s stock valued at $164,000 after acquiring an additional 46 shares during the last quarter. 85.53% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the company. Royal Bank Of Canada started coverage on Arthur J. Gallagher & Co. in a research report on Tuesday, March 17th. They issued an “outperform” rating and a $260.00 price objective for the company. Piper Sandler lowered their price target 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. UBS Group reiterated a “buy” rating on shares of Arthur J. Gallagher & Co. in a report on Thursday, June 18th. Truist Financial decreased their target price on shares of Arthur J. Gallagher & Co. from $235.00 to $225.00 and set a “hold” rating on the stock in a research report on Friday, May 1st. Finally, Jefferies Financial Group raised shares of Arthur J. Gallagher & Co. from a “hold” rating to a “buy” rating and upped their price target for the stock from $235.00 to $265.00 in a research report on Thursday, June 11th. Thirteen research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $264.12.

Insider Activity

In related 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 directly owned 47,819 shares in the company, valued at approximately $9,850,714. This trade represents a 5.90% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 1.40% of the company’s stock.

Arthur J. Gallagher & Co. Stock Up 4.2%

AJG opened at $239.16 on Thursday. Arthur J. Gallagher & Co. has a 1 year low of $190.75 and a 1 year high of $320.00. The firm has a 50 day moving average price of $211.04 and a 200 day moving average price of $225.67. The company has a market cap of $61.44 billion, a PE ratio of 38.70, a price-to-earnings-growth ratio of 1.17 and a beta of 0.50. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.06 and a current ratio of 1.06.

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, beating analysts’ consensus estimates of $4.43 by $0.04. The business had revenue of $4.71 billion for the quarter, compared to the consensus estimate 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 revenue for the quarter was up 29.0% compared to the same quarter last year. During the same quarter last year, the firm posted $3.67 EPS. Sell-side analysts expect that Arthur J. Gallagher & Co. will post 13.23 earnings per share for the current year.

Arthur J. Gallagher & Co. Dividend Announcement

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

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.