CIBC Asset Management Inc Increases Holdings in Arthur J. Gallagher & Co. $AJG

CIBC Asset Management Inc lifted its stake in shares of Arthur J. Gallagher & Co. (NYSE:AJG) by 48.9% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 84,551 shares of the financial services provider’s stock after purchasing an additional 27,782 shares during the quarter. CIBC Asset Management Inc’s holdings in Arthur J. Gallagher & Co. were worth $21,881,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in AJG. Caprock Group LLC bought a new stake in Arthur J. Gallagher & Co. during the 3rd quarter worth approximately $9,877,000. JPMorgan Chase & Co. boosted its holdings in Arthur J. Gallagher & Co. by 19.6% in the 3rd 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 period. Banco Bilbao Vizcaya Argentaria S.A. grew its position in shares of Arthur J. Gallagher & Co. by 10.2% during the 3rd quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 65,889 shares of the financial services provider’s stock valued at $20,398,000 after purchasing an additional 6,090 shares in the last quarter. Factory Mutual Insurance Co. increased its holdings in shares of 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 shares of Arthur J. Gallagher & Co. in the third quarter worth $42,824,000. Institutional investors own 85.53% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on AJG shares. Mizuho reduced their target price on Arthur J. Gallagher & Co. from $260.00 to $259.00 and set an “outperform” rating for the company in a research report on Monday, April 13th. Piper Sandler dropped their price target on Arthur J. Gallagher & Co. from $226.00 to $211.00 and set a “neutral” rating for the company in a research report on Friday, May 1st. Truist Financial cut their price objective on Arthur J. Gallagher & Co. from $235.00 to $225.00 and set a “hold” rating for the company in a report on Friday, May 1st. Royal Bank Of Canada initiated coverage on shares of Arthur J. Gallagher & Co. in a research report on Tuesday, March 17th. They issued an “outperform” rating and a $260.00 price objective on the stock. Finally, Wall Street Zen upgraded shares of Arthur J. Gallagher & Co. from a “sell” rating to a “hold” rating in a research report on Saturday, February 21st. Eleven equities research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $264.00.

Insider Activity at Arthur J. Gallagher & Co.

In other news, CAO Richard C. Cary sold 3,000 shares of the business’s stock in a transaction that occurred on Tuesday, June 2nd. The shares were sold at an average price of $206.00, for a total value of $618,000.00. Following the completion of the sale, the chief accounting officer directly owned 47,819 shares in the company, valued at approximately $9,850,714. The trade was a 5.90% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 1.40% of the company’s stock.

Arthur J. Gallagher & Co. Trading Up 4.1%

Shares of AJG stock opened at $210.77 on Friday. The business has a 50-day moving average price of $210.44 and a two-hundred day moving average price of $229.38. Arthur J. Gallagher & Co. has a 12-month low of $190.75 and a 12-month high of $337.33. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.51. The firm has a market cap of $54.15 billion, a P/E ratio of 34.10, a price-to-earnings-growth ratio of 1.02 and a beta of 0.52.

Arthur J. Gallagher & Co. (NYSE:AJG) last announced its quarterly earnings data on Thursday, April 30th. The financial services provider reported $4.47 EPS for the quarter, beating the consensus estimate of $4.43 by $0.04. The firm had revenue of $4.71 billion for the quarter, compared to analyst estimates of $4.73 billion. Arthur J. Gallagher & Co. had a return on equity of 12.83% and a net margin of 10.76%.The company’s revenue was up 29.0% on a year-over-year basis. During the same period in the prior year, the company earned $3.67 EPS. Equities analysts anticipate that Arthur J. Gallagher & Co. will post 13.27 EPS for the current fiscal year.

Arthur J. Gallagher & Co. Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 19th. Shareholders of record on Friday, June 5th will be given a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date is Friday, June 5th. Arthur J. Gallagher & Co.’s dividend payout ratio (DPR) is presently 45.31%.

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.