Hsbc Holdings PLC Sells 73,999 Shares of Arthur J. Gallagher & Co. $AJG

Hsbc Holdings PLC cut its holdings in Arthur J. Gallagher & Co. (NYSE:AJG) by 13.9% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 459,478 shares of the financial services provider’s stock after selling 73,999 shares during the period. Hsbc Holdings PLC’s holdings in Arthur J. Gallagher & Co. were worth $99,657,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of AJG. Whipplewood Advisors LLC grew its position in shares of Arthur J. Gallagher & Co. by 1,761.9% during the 1st quarter. Whipplewood Advisors LLC now owns 391 shares of the financial services provider’s stock worth $85,000 after purchasing an additional 370 shares in the last quarter. Texas Bank & Trust Co boosted its stake in shares of Arthur J. Gallagher & Co. by 10.5% in the first quarter. Texas Bank & Trust Co now owns 1,050 shares of the financial services provider’s stock valued at $227,000 after buying an additional 100 shares during the period. Kestra Advisory Services LLC grew its position in Arthur J. Gallagher & Co. by 159.8% during the first quarter. Kestra Advisory Services LLC now owns 41,317 shares of the financial services provider’s stock worth $8,949,000 after buying an additional 25,415 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. grew its position in Arthur J. Gallagher & Co. by 2.1% during the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 587,811 shares of the financial services provider’s stock worth $127,308,000 after buying an additional 12,121 shares in the last quarter. Finally, Personal CFO Solutions LLC increased its stake in Arthur J. Gallagher & Co. by 12.1% during the 1st quarter. Personal CFO Solutions LLC now owns 2,510 shares of the financial services provider’s stock worth $544,000 after acquiring an additional 271 shares during the period. 85.53% of the stock is owned by institutional investors.

Arthur J. Gallagher & Co. Stock Performance

NYSE:AJG opened at $254.36 on Monday. Arthur J. Gallagher & Co. has a twelve month low of $190.75 and a twelve month high of $316.71. 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 stock’s 50-day simple moving average is $221.35 and its 200 day simple moving average is $225.41. The firm has a market capitalization of $65.35 billion, a PE ratio of 41.16, a price-to-earnings-growth ratio of 1.31 and a beta of 0.50.

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. Arthur J. Gallagher & Co. had a net margin of 10.76% and a return on equity of 12.83%. The firm had revenue of $4.71 billion during the quarter, compared to analysts’ expectations of $4.73 billion. During the same quarter in the prior year, the business earned $3.67 earnings per share. The business’s revenue for the quarter was up 29.0% compared to the same quarter last year. On average, analysts anticipate that Arthur J. Gallagher & Co. will post 13.22 EPS for the current fiscal year.

Arthur J. Gallagher & Co. Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 19th. Investors of record on Friday, June 5th were paid a $0.70 dividend. The ex-dividend date of this dividend was Friday, June 5th. This represents a $2.80 annualized dividend and a yield of 1.1%. Arthur J. Gallagher & Co.’s dividend payout ratio is presently 45.31%.

Insiders Place Their Bets

In other Arthur J. Gallagher & Co. news, CAO Richard C. Cary sold 3,000 shares of the firm’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 sale, the chief accounting officer owned 47,819 shares in the company, valued at $9,850,714. This trade represents a 5.90% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. 1.40% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on AJG. Keefe, Bruyette & Woods upped their target price on Arthur J. Gallagher & Co. from $242.00 to $261.00 and gave the company a “market perform” rating in a research report on Wednesday, July 8th. Citigroup raised Arthur J. Gallagher & Co. from a “neutral” rating to a “buy” rating and dropped their price target for the company from $280.00 to $250.00 in a research note on Wednesday, May 6th. Barclays upped their price objective on shares of Arthur J. Gallagher & Co. from $275.00 to $292.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 7th. Piper Sandler upgraded shares of Arthur J. Gallagher & Co. from a “neutral” rating to an “overweight” rating and increased their price objective for the stock from $225.00 to $276.00 in a research note on Wednesday. Finally, Jefferies Financial Group raised shares of Arthur J. Gallagher & Co. from a “hold” rating to a “buy” rating and raised their target price for the company from $235.00 to $265.00 in a report on Thursday, June 11th. Thirteen equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Arthur J. Gallagher & Co. presently has an average rating of “Moderate Buy” and a consensus 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.