Intech Investment Management LLC Decreases Stock Position in Arthur J. Gallagher & Co. $AJG

Intech Investment Management LLC lessened its stake in shares of Arthur J. Gallagher & Co. (NYSE:AJG) by 18.1% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 11,488 shares of the financial services provider’s stock after selling 2,533 shares during the period. Intech Investment Management LLC’s holdings in Arthur J. Gallagher & Co. were worth $2,973,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Caprock Group LLC purchased a new stake in Arthur J. Gallagher & Co. in the third quarter worth $9,877,000. JPMorgan Chase & Co. increased its stake in 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 worth $6,299,674,000 after purchasing an additional 3,330,205 shares during the period. Banco Bilbao Vizcaya Argentaria S.A. increased its stake in Arthur J. Gallagher & Co. by 10.2% in the third quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 65,889 shares of the financial services provider’s stock worth $20,398,000 after purchasing an additional 6,090 shares during the period. Factory Mutual Insurance Co. increased its stake in Arthur J. Gallagher & Co. by 241.4% in the third quarter. Factory Mutual Insurance Co. now owns 49,500 shares of the financial services provider’s stock worth $15,332,000 after purchasing an additional 35,000 shares during the period. Finally, Cincinnati Financial Corp purchased a new stake in Arthur J. Gallagher & Co. in the third quarter worth $42,824,000. Hedge funds and other institutional investors own 85.53% of the company’s stock.

Insider Activity at Arthur J. Gallagher & Co.

In other news, VP Christopher E. Mead sold 4,000 shares of the company’s stock in a transaction dated Thursday, March 5th. The shares were sold at an average price of $227.12, for a total transaction of $908,480.00. Following the transaction, the vice president owned 19,306 shares in the company, valued at $4,384,778.72. This represents a 17.16% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CAO Richard C. Cary sold 3,000 shares of the company’s stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of $206.00, for a total transaction of $618,000.00. Following the transaction, the chief accounting officer owned 47,819 shares in the company, valued at approximately $9,850,714. This trade represents a 5.90% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 10,800 shares of company stock valued at $2,391,246 over the last quarter. 1.40% of the stock is owned by corporate insiders.

Arthur J. Gallagher & Co. Price Performance

Shares of AJG stock opened at $205.79 on Wednesday. Arthur J. Gallagher & Co. has a 1-year low of $190.75 and a 1-year high of $351.23. The stock’s 50-day moving average is $211.03 and its 200 day moving average is $230.45. The company has a market cap of $52.87 billion, a P/E ratio of 33.30, a PEG ratio of 1.04 and a beta of 0.52. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.06 and a quick ratio of 1.06.

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 for the quarter, beating 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 for the quarter, compared to the consensus estimate of $4.73 billion. During the same quarter last year, the company earned $3.67 earnings per share. The firm’s revenue for the quarter was up 29.0% compared to the same quarter last year. Research analysts predict that Arthur J. Gallagher & Co. will post 13.26 earnings per share for the current fiscal year.

Arthur J. Gallagher & Co. Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 19th. Investors of record on Friday, June 5th will be given a dividend of $0.70 per share. The ex-dividend date of this dividend is Friday, June 5th. This represents a $2.80 dividend on an annualized basis and a yield of 1.4%. Arthur J. Gallagher & Co.’s dividend payout ratio (DPR) is presently 45.31%.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on AJG shares. Truist Financial dropped their price target on 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. Piper Sandler cut their price target on Arthur J. Gallagher & Co. from $226.00 to $211.00 and set a “neutral” rating on the stock in a research note on Friday, May 1st. Wells Fargo & Company cut their price target on Arthur J. Gallagher & Co. from $273.00 to $266.00 and set an “overweight” rating on the stock in a research note on Thursday, April 9th. Royal Bank Of Canada assumed coverage on Arthur J. Gallagher & Co. in a research note on Tuesday, March 17th. They set an “outperform” rating and a $260.00 price target on the stock. Finally, Wall Street Zen upgraded Arthur J. Gallagher & Co. from a “sell” rating to a “hold” rating in a research note on Saturday, February 21st. Eleven analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $264.00.

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.