Evelyn Partners Investment Management Services Ltd Makes New $5.85 Million Investment in Arthur J. Gallagher & Co. $AJG

Evelyn Partners Investment Management Services Ltd bought a new stake in shares of Arthur J. Gallagher & Co. (NYSE:AJG) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 27,000 shares of the financial services provider’s stock, valued at approximately $5,848,000.

A number of other hedge funds have also recently made changes to their positions in AJG. Kemnay Advisory Services Inc. bought a new position in Arthur J. Gallagher & Co. during the 4th quarter valued at approximately $26,000. Cassaday & Co Wealth Management LLC bought a new stake in Arthur J. Gallagher & Co. in the first quarter worth $29,000. MV Capital Management Inc. purchased a new stake in shares of Arthur J. Gallagher & Co. in the fourth quarter worth $34,000. Rakuten Securities Inc. increased its holdings in shares of Arthur J. Gallagher & Co. by 650.0% during the second quarter. Rakuten Securities Inc. now owns 105 shares of the financial services provider’s stock valued at $34,000 after acquiring an additional 91 shares in the last quarter. Finally, Avalon Trust Co purchased a new position in shares of Arthur J. Gallagher & Co. in the 1st quarter worth about $40,000. 85.53% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Arthur J. Gallagher & Co. news, CAO Richard C. Cary sold 3,000 shares of the 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 owned 47,819 shares of the company’s stock, valued at approximately $9,850,714. This represents a 5.90% 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. Company insiders own 1.40% of the company’s stock.

Arthur J. Gallagher & Co. Stock Up 2.3%

AJG opened at $253.46 on Tuesday. The stock has a market capitalization of $65.11 billion, a price-to-earnings ratio of 41.01, a PEG ratio of 1.28 and a beta of 0.50. The firm has a 50 day moving average price of $227.26 and a 200-day moving average price of $224.89. Arthur J. Gallagher & Co. has a twelve month low of $190.75 and a twelve month high of $315.00. 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 posted its earnings results on Thursday, April 30th. The financial services provider reported $4.47 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 net margin of 10.76% and a return on equity of 12.83%. The firm’s revenue was up 29.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $3.67 EPS. Equities research analysts forecast that Arthur J. Gallagher & Co. will post 13.22 earnings per share for the current year.

Arthur J. Gallagher & Co. Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 19th. Investors 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 annualized dividend and a dividend yield of 1.1%. Arthur J. Gallagher & Co.’s payout ratio is presently 45.31%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the stock. Wolfe Research cut shares of Arthur J. Gallagher & Co. from an “outperform” rating to a “peer perform” rating in a research note on Thursday, July 9th. UBS Group lifted their target price on shares of Arthur J. Gallagher & Co. from $250.00 to $291.00 and gave the stock a “buy” rating in a report on Wednesday, July 8th. Cantor Fitzgerald increased their price target on shares of Arthur J. Gallagher & Co. from $285.00 to $300.00 and gave the company a “neutral” rating in a report on Thursday, July 9th. Truist Financial reduced their price target on shares of Arthur J. Gallagher & Co. from $235.00 to $225.00 and set a “hold” rating for the company in a research report on Friday, May 1st. Finally, Piper Sandler upgraded shares of Arthur J. Gallagher & Co. from a “neutral” rating to an “overweight” rating and boosted their price objective for the stock from $225.00 to $276.00 in a report on Wednesday, July 15th. Thirteen research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $280.35.

About Arthur J. Gallagher & Co.

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.