Arthur J. Gallagher & Co. $AJG Shares Bought by NEOS Investment Management LLC

NEOS Investment Management LLC grew its position in Arthur J. Gallagher & Co. (NYSE:AJG) by 13.8% in the second quarter, Holdings Channel.com reports. The fund owned 41,756 shares of the financial services provider’s stock after buying an additional 5,073 shares during the period. NEOS Investment Management LLC’s holdings in Arthur J. Gallagher & Co. were worth $9,586,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Capital World Investors increased its stake in Arthur J. Gallagher & Co. by 7.0% during the fourth quarter. Capital World Investors now owns 12,613,371 shares of the financial services provider’s stock valued at $3,264,359,000 after purchasing an additional 830,252 shares during the last quarter. State Street Corp grew its position in shares of Arthur J. Gallagher & Co. by 0.6% during the 4th quarter. State Street Corp now owns 10,953,598 shares of the financial services provider’s stock valued at $2,834,682,000 after buying an additional 62,518 shares during the last quarter. Norges Bank acquired a new stake in Arthur J. Gallagher & Co. during the fourth quarter worth about $1,925,062,000. T. Rowe Price Investment Management Inc. raised its stake in Arthur J. Gallagher & Co. by 123.5% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 5,887,538 shares of the financial services provider’s stock worth $1,523,636,000 after acquiring an additional 3,253,498 shares during the period. Finally, Principal Financial Group Inc. boosted its stake in Arthur J. Gallagher & Co. by 14.4% in the first quarter. Principal Financial Group Inc. now owns 3,242,088 shares of the financial services provider’s stock valued at $702,182,000 after acquiring an additional 409,145 shares during the period. 85.53% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Arthur J. Gallagher & Co.

In other Arthur J. Gallagher & Co. news, General Counsel Walter Bay sold 12,000 shares of the business’s stock in a transaction dated Monday, August 24th. The shares were sold at an average price of $270.08, for a total transaction of $3,240,960.00. Following the sale, the general counsel directly owned 71,292 shares in the company, valued at approximately $19,254,543.36. The trade was a 14.41% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Christopher Mead sold 3,500 shares of the stock in a transaction on Wednesday, August 19th. The shares were sold at an average price of $257.02, for a total value of $899,570.00. Following the transaction, the vice president directly owned 22,223 shares of the company’s stock, valued at approximately $5,711,755.46. The trade was a 13.61% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 27,500 shares of company stock valued at $7,310,090. Company insiders own 1.40% of the company’s stock.

Arthur J. Gallagher & Co. Stock Down 1.7%

AJG opened at $262.24 on Friday. The stock’s 50 day moving average price is $254.17 and its 200 day moving average price is $227.66. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.05 and a quick ratio of 1.05. The stock has a market cap of $67.21 billion, a P/E ratio of 43.49, a P/E/G ratio of 1.59 and a beta of 0.50. Arthur J. Gallagher & Co. has a 12 month low of $190.75 and a 12 month high of $313.55.

Arthur J. Gallagher & Co. (NYSE:AJG) last announced its quarterly earnings results on Thursday, July 30th. The financial services provider reported $2.84 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.81 by $0.03. Arthur J. Gallagher & Co. had a return on equity of 13.28% and a net margin of 9.96%.The company had revenue of $3.95 billion during the quarter, compared to analyst estimates of $4.01 billion. During the same quarter in the previous year, the firm posted $2.33 EPS. The firm’s quarterly revenue was up 24.3% on a year-over-year basis. As a group, research analysts predict that Arthur J. Gallagher & Co. will post 13.28 earnings per share for the current year.

Arthur J. Gallagher & Co. Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 18th. Investors of record on Tuesday, September 8th will be given a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date is Tuesday, September 8th. Arthur J. Gallagher & Co.’s dividend payout ratio is currently 46.43%.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on AJG shares. Piper Sandler increased their price target on Arthur J. Gallagher & Co. from $276.00 to $287.00 and gave the stock an “overweight” rating in a research report on Friday, July 31st. Weiss Ratings upgraded Arthur J. Gallagher & Co. from a “hold (c-)” rating to a “hold (c)” rating in a research report on Monday, July 13th. Truist Financial increased their target price on Arthur J. Gallagher & Co. from $225.00 to $265.00 and gave the stock a “hold” rating in a research report on Friday, July 31st. Wells Fargo & Company cut their target price on Arthur J. Gallagher & Co. from $299.00 to $296.00 and set an “overweight” rating on the stock in a research note on Monday, August 3rd. Finally, Barclays upped their price target on shares of Arthur J. Gallagher & Co. from $275.00 to $292.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 7th. Fourteen investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat.com, Arthur J. Gallagher & Co. presently has a consensus rating of “Moderate Buy” and an average price target of $290.28.

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.