7,976 Shares in Arthur J. Gallagher & Co. $AJG Purchased by Hohimer Wealth Management LLC

Hohimer Wealth Management LLC purchased a new position in shares of Arthur J. Gallagher & Co. (NYSE:AJG) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 7,976 shares of the financial services provider’s stock, valued at approximately $2,470,000.

A number of other hedge funds also recently made changes to their positions in the business. Norges Bank bought a new stake in Arthur J. Gallagher & Co. in the 2nd quarter valued at $1,536,230,000. JPMorgan Chase & Co. increased its holdings 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 purchasing an additional 3,330,205 shares during the last quarter. Sands Capital Management LLC raised its position in shares of Arthur J. Gallagher & Co. by 453.3% in the second quarter. Sands Capital Management LLC now owns 1,121,249 shares of the financial services provider’s stock valued at $358,934,000 after purchasing an additional 918,618 shares during the period. Balyasny Asset Management L.P. lifted its stake in shares of Arthur J. Gallagher & Co. by 41,475.5% during the 2nd quarter. Balyasny Asset Management L.P. now owns 770,394 shares of the financial services provider’s stock worth $246,619,000 after buying an additional 768,541 shares during the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in shares of Arthur J. Gallagher & Co. by 30.5% during the 3rd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 3,107,390 shares of the financial services provider’s stock worth $962,483,000 after buying an additional 725,555 shares during the period. 85.53% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Arthur J. Gallagher & Co.

In other Arthur J. Gallagher & Co. news, VP Christopher E. Mead sold 4,000 shares of the business’s stock in a transaction that occurred on Tuesday, December 23rd. The shares were sold at an average price of $258.11, for a total transaction of $1,032,440.00. Following the completion of the transaction, the vice president directly owned 17,327 shares in the company, valued at $4,472,271.97. The trade was a 18.76% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Douglas K. Howell sold 5,000 shares of the company’s stock in a transaction on Monday, December 22nd. The stock was sold at an average price of $258.05, for a total value 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. The trade was a 4.96% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 24,850 shares of company stock valued at $6,364,440 over the last three months. 1.60% of the stock is owned by insiders.

Arthur J. Gallagher & Co. Stock Performance

NYSE:AJG opened at $225.05 on Friday. The company has a market cap of $57.86 billion, a price-to-earnings ratio of 36.59, a PEG ratio of 1.18 and a beta of 0.66. Arthur J. Gallagher & Co. has a fifty-two week low of $195.00 and a fifty-two week high of $351.23. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.06 and a current ratio of 1.06. The stock has a fifty day moving average price of $243.62 and a 200-day moving average price of $266.39.

Arthur J. Gallagher & Co. (NYSE:AJG) last posted its quarterly earnings results on Thursday, January 29th. The financial services provider reported $2.38 EPS 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 during the quarter, compared to the consensus estimate of $3.61 billion. During the same quarter in the previous year, the firm earned $1.12 earnings per share. Arthur J. Gallagher & Co.’s revenue for the quarter was up 33.9% compared to the same quarter last year. As a group, equities analysts anticipate that Arthur J. Gallagher & Co. will post 11.54 EPS for the current fiscal year.

Arthur J. Gallagher & Co. Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 20th. Investors of record on Friday, March 6th will be given a dividend of $0.70 per share. The ex-dividend date is Friday, March 6th. This represents a $2.80 annualized dividend and a dividend yield of 1.2%. This is a positive change from Arthur J. Gallagher & Co.’s previous quarterly dividend of $0.65. Arthur J. Gallagher & Co.’s dividend payout ratio (DPR) is 42.28%.

Analysts Set New Price Targets

Several research analysts have weighed in on the stock. Barclays lowered their price target on shares of Arthur J. Gallagher & Co. from $250.00 to $247.00 and set an “underweight” rating on the stock in a report on Thursday, January 8th. Truist Financial set a $271.00 target price on Arthur J. Gallagher & Co. in a research note on Friday, January 30th. Piper Sandler reduced their price target on Arthur J. Gallagher & Co. from $249.00 to $226.00 and set a “neutral” rating for the company in a research note on Monday. Citigroup increased their price objective on Arthur J. Gallagher & Co. from $277.00 to $280.00 and gave the stock a “neutral” rating in a research report on Monday, February 2nd. Finally, BMO Capital Markets cut shares of Arthur J. Gallagher & Co. from an “outperform” rating to a “market perform” rating and reduced their target price for the company from $289.00 to $275.00 in a research report on Tuesday, January 13th. Six equities research analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $282.76.

Arthur J. Gallagher & Co. Company 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.