Gtcr LLC Makes New Investment in Arthur J. Gallagher & Co. $AJG

Gtcr LLC acquired a new position in shares of Arthur J. Gallagher & Co. (NYSE:AJG) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 2,373,773 shares of the financial services provider’s stock, valued at approximately $514,112,000. Arthur J. Gallagher & Co. comprises about 13.6% of Gtcr LLC’s holdings, making the stock its 2nd biggest holding. Gtcr LLC owned about 0.92% of Arthur J. Gallagher & Co. at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the stock. Jump Financial LLC acquired a new position in Arthur J. Gallagher & Co. in the second quarter valued at $2,825,000. Qube Research & Technologies Ltd purchased a new position in shares of Arthur J. Gallagher & Co. during the second quarter worth approximately $3,429,000. Treasurer of the State of North Carolina increased its holdings in shares of Arthur J. Gallagher & Co. by 5.3% in the 2nd quarter. Treasurer of the State of North Carolina now owns 118,467 shares of the financial services provider’s stock valued at $37,924,000 after acquiring an additional 5,947 shares during the period. Peapack Gladstone Financial Corp raised its position in Arthur J. Gallagher & Co. by 2,919.2% in the 2nd quarter. Peapack Gladstone Financial Corp now owns 19,987 shares of the financial services provider’s stock valued at $6,398,000 after purchasing an additional 19,325 shares during the last quarter. Finally, Armistice Capital LLC acquired a new stake in Arthur J. Gallagher & Co. during the 2nd quarter worth $412,000. 85.53% of the stock is owned by hedge funds and other institutional investors.

Arthur J. Gallagher & Co. Trading Up 2.2%

NYSE AJG opened at $247.57 on Friday. Arthur J. Gallagher & Co. has a 52-week low of $190.75 and a 52-week high of $315.48. The firm has a 50-day moving average price of $226.33 and a 200 day moving average price of $225.22. The stock has a market capitalization of $63.60 billion, a P/E ratio of 40.06, a P/E/G ratio of 1.28 and a beta of 0.50. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.51.

Arthur J. Gallagher & Co. (NYSE:AJG) last issued its earnings results on Thursday, April 30th. The financial services provider reported $4.47 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.43 by $0.04. The business had revenue of $4.71 billion during the quarter, compared to the consensus estimate 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 for the quarter was up 29.0% on a year-over-year basis. During the same period in the prior year, the business posted $3.67 EPS. Equities research analysts expect that Arthur J. Gallagher & Co. will post 13.22 EPS for the current year.

Arthur J. Gallagher & Co. Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 19th. Shareholders of record on Friday, June 5th were issued a $0.70 dividend. The ex-dividend date of this dividend was Friday, June 5th. This represents a $2.80 dividend on an annualized basis and a yield of 1.1%. Arthur J. Gallagher & Co.’s dividend payout ratio (DPR) is 45.31%.

Insider Activity at Arthur J. Gallagher & Co.

In other Arthur J. Gallagher & Co. news, CAO Richard C. Cary sold 3,000 shares of the business’s stock in a transaction on Tuesday, June 2nd. The shares were sold at an average price of $206.00, for a total transaction of $618,000.00. Following 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 document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.40% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on AJG shares. Weiss Ratings raised shares of Arthur J. Gallagher & Co. from a “hold (c-)” rating to a “hold (c)” rating in a report on Monday, July 13th. 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 raised Arthur J. Gallagher & Co. from a “neutral” rating to an “overweight” rating and upped their price objective for the company from $225.00 to $276.00 in a research note on Wednesday, July 15th. Cantor Fitzgerald increased their price objective on Arthur J. Gallagher & Co. from $285.00 to $300.00 and gave the stock a “neutral” rating in a research report on Thursday, July 9th. Finally, Morgan Stanley boosted their target price on Arthur J. Gallagher & Co. from $240.00 to $255.00 and gave the company an “overweight” rating in a report on Monday, July 6th. Thirteen equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $280.35.

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.