Avity Investment Management Inc. Takes $472,000 Position in Arthur J. Gallagher & Co. $AJG

Avity Investment Management Inc. acquired a new position in Arthur J. Gallagher & Co. (NYSE:AJG) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund acquired 2,057 shares of the financial services provider’s stock, valued at approximately $472,000.

Several other institutional investors also recently bought and sold shares of AJG. Kemnay Advisory Services Inc. bought a new stake in Arthur J. Gallagher & Co. in the fourth quarter valued at approximately $26,000. Axiom Investment Management LLC purchased a new stake in Arthur J. Gallagher & Co. in the first quarter worth $28,000. Cassaday & Co Wealth Management LLC bought a new stake in Arthur J. Gallagher & Co. in the first quarter valued at $29,000. MV Capital Management Inc. bought a new position in Arthur J. Gallagher & Co. in the 4th quarter worth $34,000. Finally, Rakuten Securities Inc. boosted its stake in shares of Arthur J. Gallagher & Co. by 650.0% during the 2nd quarter. Rakuten Securities Inc. now owns 105 shares of the financial services provider’s stock valued at $34,000 after purchasing an additional 91 shares in the last quarter. 85.53% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Arthur J. Gallagher & Co.

In other news, CAO Richard C. Cary sold 3,000 shares of the firm’s stock in a transaction dated 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 owned 47,819 shares of the company’s stock, valued at $9,850,714. This trade represents a 5.90% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 1.40% of the company’s stock.

Arthur J. Gallagher & Co. Price Performance

Shares of AJG opened at $247.59 on Friday. The company has a market capitalization of $63.46 billion, a P/E ratio of 41.06, a price-to-earnings-growth ratio of 1.28 and a beta of 0.50. Arthur J. Gallagher & Co. has a twelve month low of $190.75 and a twelve month high of $313.55. The company has a quick ratio of 1.06, a current ratio of 1.05 and a debt-to-equity ratio of 0.50. The firm has a 50 day moving average of $236.28 and a 200 day moving average of $224.75.

Arthur J. Gallagher & Co. (NYSE:AJG) last issued its earnings results on Thursday, July 30th. The financial services provider reported $2.84 EPS for the quarter, beating the consensus estimate of $2.81 by $0.03. The business had revenue of $3.95 billion for the quarter, compared to the consensus estimate of $4.01 billion. Arthur J. Gallagher & Co. had a return on equity of 13.28% and a net margin of 9.96%.The company’s revenue was up 24.3% compared to the same quarter last year. During the same period last year, the business posted $2.33 EPS. As a group, equities research analysts anticipate that Arthur J. Gallagher & Co. will post 13.27 earnings per share for the current fiscal year.

Arthur J. Gallagher & Co. Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 18th. Shareholders of record on Tuesday, September 8th will be given a $0.70 dividend. The ex-dividend date of this dividend is Tuesday, September 8th. This represents a $2.80 dividend on an annualized basis and a yield of 1.1%. Arthur J. Gallagher & Co.’s payout ratio is 46.43%.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the company. Royal Bank Of Canada lifted their price objective on Arthur J. Gallagher & Co. from $300.00 to $310.00 and gave the company an “outperform” rating in a research report on Friday, July 31st. Piper Sandler lifted their price target on Arthur J. Gallagher & Co. from $276.00 to $287.00 and gave the company an “overweight” rating in a research report on Friday, July 31st. Barclays increased their price objective on Arthur J. Gallagher & Co. from $275.00 to $292.00 and gave the stock an “overweight” rating in a report on Tuesday, July 7th. Truist Financial upped their target price on shares of Arthur J. Gallagher & Co. from $225.00 to $265.00 and gave the stock a “hold” rating in a research report on Friday, July 31st. Finally, Weiss Ratings upgraded shares of Arthur J. Gallagher & Co. from a “hold (c-)” rating to a “hold (c)” rating in a research note on Monday, July 13th. Thirteen research analysts have rated the stock with a Buy rating and five have issued 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 target price of $287.65.

Arthur J. Gallagher & Co. Company 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.