10,386 Shares in Arthur J. Gallagher & Co. $AJG Acquired by McLean Asset Management Corp

McLean Asset Management Corp acquired a new stake in Arthur J. Gallagher & Co. (NYSE:AJG) during the 1st quarter, HoldingsChannel reports. The firm acquired 10,386 shares of the financial services provider’s stock, valued at approximately $2,249,000.

A number of other large investors have also bought and sold shares of the company. Vanguard Group Inc. increased its holdings in Arthur J. Gallagher & Co. by 0.7% in 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 acquiring an additional 217,136 shares during the last quarter. Capital World Investors lifted its holdings 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 boosted its position in Arthur J. Gallagher & Co. by 0.6% during the fourth 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 during the period. Norges Bank purchased a new position in shares of Arthur J. Gallagher & Co. in the fourth quarter worth about $1,925,062,000. Finally, Capital International Investors raised its position in shares of Arthur J. Gallagher & Co. by 0.6% in the third quarter. Capital International Investors now owns 7,194,743 shares of the financial services provider’s stock valued at $2,228,156,000 after purchasing an additional 45,256 shares during the period. 85.53% of the stock is owned by hedge funds and other institutional investors.

Arthur J. Gallagher & Co. Stock Performance

NYSE AJG opened at $226.34 on Monday. Arthur J. Gallagher & Co. has a 1 year low of $190.75 and a 1 year high of $323.25. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.06 and a quick ratio of 1.06. The stock has a market capitalization of $58.15 billion, a PE ratio of 36.62, a P/E/G ratio of 1.15 and a beta of 0.53. The company’s 50 day simple moving average is $210.49 and its two-hundred day simple moving average is $225.90.

Arthur J. Gallagher & Co. (NYSE:AJG) last released its quarterly 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 firm had revenue of $4.71 billion during the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same period in the previous year, the business earned $3.67 EPS. Analysts predict that Arthur J. Gallagher & Co. will post 13.23 earnings per share for the current fiscal year.

Arthur J. Gallagher & Co. Announces Dividend

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

Analyst Upgrades and Downgrades

AJG has been the subject of several analyst reports. Jefferies Financial Group raised shares of Arthur J. Gallagher & Co. from a “hold” rating to a “buy” rating and raised their price objective for the stock from $235.00 to $265.00 in a report on Thursday, June 11th. Piper Sandler lowered their target price on shares of Arthur J. Gallagher & Co. from $226.00 to $211.00 and set a “neutral” rating on the stock in a report on Friday, May 1st. Morgan Stanley cut their price target on Arthur J. Gallagher & Co. from $265.00 to $240.00 and set an “overweight” rating for the company in a report on Thursday, May 21st. Mizuho decreased their price objective on Arthur J. Gallagher & Co. from $260.00 to $259.00 and set an “outperform” rating on the stock in a research note on Monday, April 13th. Finally, Citigroup raised Arthur J. Gallagher & Co. from a “neutral” rating to a “buy” rating and dropped their price objective for the stock from $280.00 to $250.00 in a report on Wednesday, May 6th. Thirteen analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $264.12.

Insiders Place Their Bets

In other Arthur J. Gallagher & Co. news, CAO Richard C. Cary sold 3,000 shares of the company’s stock in a transaction dated Tuesday, June 2nd. The stock was sold at an average price of $206.00, for a total value of $618,000.00. Following the transaction, the chief accounting officer directly owned 47,819 shares in the company, valued at $9,850,714. This represents a 5.90% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.40% of the stock is owned by corporate insiders.

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.