Arthur J. Gallagher & Co. $AJG Stock Position Raised by Welch Group LLC

Welch Group LLC grew its holdings in Arthur J. Gallagher & Co. (NYSE:AJG) by 1.0% during the third quarter, HoldingsChannel reports. The firm owned 264,798 shares of the financial services provider’s stock after acquiring an additional 2,557 shares during the period. Arthur J. Gallagher & Co. comprises about 2.1% of Welch Group LLC’s investment portfolio, making the stock its 21st biggest holding. Welch Group LLC’s holdings in Arthur J. Gallagher & Co. were worth $60,403,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also made changes to their positions in the company. Bank Julius Baer & Co. Ltd Zurich raised its stake in Arthur J. Gallagher & Co. by 0.3% during the third quarter. Bank Julius Baer & Co. Ltd Zurich now owns 504,047 shares of the financial services provider’s stock worth $114,945,000 after purchasing an additional 1,702 shares during the period. Nippon Life Global Investors Americas Inc. acquired a new position in Arthur J. Gallagher & Co. in the 3rd quarter valued at about $32,189,000. Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of Arthur J. Gallagher & Co. in the 3rd quarter valued at approximately $18,161,000. Profund Advisors LLC grew its stake in shares of Arthur J. Gallagher & Co. by 10.9% in the 3rd quarter. Profund Advisors LLC now owns 2,387 shares of the financial services provider’s stock valued at $544,000 after buying an additional 235 shares during the period. Finally, Vise Technologies Inc. increased its holdings in shares of Arthur J. Gallagher & Co. by 9.5% during the 3rd quarter. Vise Technologies Inc. now owns 6,881 shares of the financial services provider’s stock worth $1,570,000 after buying an additional 599 shares during the last quarter. 85.53% of the stock is currently owned by institutional investors and hedge funds.

Arthur J. Gallagher & Co. Price Performance

AJG stock opened at $276.46 on Monday. The business’s fifty day moving average price is $248.41 and its 200 day moving average price is $232.55. Arthur J. Gallagher & Co. has a 12-month low of $190.75 and a 12-month high of $277.45. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.49. The company has a market capitalization of $70.86 billion, a PE ratio of 42.27, a P/E/G ratio of 1.58 and a beta of 0.47.

Arthur J. Gallagher & Co. (NYSE:AJG) last issued its quarterly earnings results on Thursday, October 29th. The financial services provider reported $3.00 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.99 by $0.01. Arthur J. Gallagher & Co. had a net margin of 10.39% and a return on equity of 13.90%. The business had revenue of $3.92 billion for the quarter, compared to analysts’ expectations of $3.98 billion. During the same quarter in the prior year, the company earned $2.32 earnings per share. The business’s quarterly revenue was up 19.6% on a year-over-year basis. On average, sell-side analysts anticipate that Arthur J. Gallagher & Co. will post 13.15 EPS for the current year.

Arthur J. Gallagher & Co. Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 18th. Investors of record on Monday, December 7th will be paid a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 1.0%. The ex-dividend date of this dividend is Monday, December 7th. Arthur J. Gallagher & Co.’s dividend payout ratio is presently 42.81%.

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

In other news, CAO Richard C. Cary sold 1,000 shares of the company’s stock in a transaction on Tuesday, September 15th. The stock was sold at an average price of $252.86, for a total transaction of $252,860.00. Following the sale, the chief accounting officer owned 46,819 shares of the company’s stock, valued at approximately $11,838,652.34. This represents a 2.09% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Christopher E. 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 completion of the sale, the vice president owned 22,223 shares in the company, valued at approximately $5,711,755.46. The trade was a 13.61% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 28,500 shares of company stock valued at $7,562,950 in the last quarter. Corporate insiders own 1.40% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently commented on AJG. Piper Sandler reiterated an “overweight” rating on shares of Arthur J. Gallagher & Co. in a report on Thursday, September 24th. Morgan Stanley reduced their target price on Arthur J. Gallagher & Co. from $285.00 to $260.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 6th. Wells Fargo & Company decreased their price target on Arthur J. Gallagher & Co. from $291.00 to $284.00 and set an “overweight” rating on the stock in a research note on Monday, October 12th. The Goldman Sachs Group reiterated a “buy” rating and set a $296.00 price target on shares of Arthur J. Gallagher & Co. in a report on Friday. Finally, UBS Group raised their price objective on Arthur J. Gallagher & Co. from $291.00 to $299.00 and gave the stock a “buy” rating in a research report on Monday, August 3rd. Fourteen analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to MarketBeat, Arthur J. Gallagher & Co. currently has an average rating of “Moderate Buy” and a consensus target price of $287.32.

Arthur J. Gallagher & Co. Company Profile

Arthur J. Gallagher & Co is a global insurance brokerage, risk management and consulting company. The firm helps businesses, public entities and individuals identify, manage and transfer risk through insurance and related services.

Its operations include retail insurance brokerage, employee benefits consulting, wholesale brokerage, reinsurance brokerage, claims administration and risk management consulting. Gallagher places commercial and personal insurance coverage and provides services related to property and casualty risks, health care, benefits, and other specialized insurance needs.

Founded in 1927 by Arthur J.