Arthur J. Gallagher & Co. $AJG Shares Sold by JPMorgan Chase & Co.

JPMorgan Chase & Co. lessened its stake in Arthur J. Gallagher & Co. (NYSE:AJG) by 0.1% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 20,313,249 shares of the financial services provider’s stock after selling 25,284 shares during the quarter. JPMorgan Chase & Co. owned approximately 0.08% of Arthur J. Gallagher & Co. worth $5,256,867,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of AJG. Jump Financial LLC acquired a new stake in shares of Arthur J. Gallagher & Co. in the 2nd quarter valued at about $2,825,000. Qube Research & Technologies Ltd acquired a new stake in shares of Arthur J. Gallagher & Co. in the 2nd quarter valued at about $3,429,000. Treasurer of the State of North Carolina raised its stake 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 purchasing an additional 5,947 shares in the last quarter. Peapack Gladstone Financial Corp raised its stake in shares of 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 in the last quarter. Finally, Armistice Capital LLC acquired a new stake in Arthur J. Gallagher & Co. during the second quarter worth about $412,000. Institutional investors and hedge funds own 85.53% of the company’s stock.

Insider Buying and Selling

In other Arthur J. Gallagher & Co. news, CAO Richard C. Cary sold 3,000 shares of the company’s stock in a transaction dated 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 transaction, the chief accounting officer owned 47,819 shares in the company, valued at approximately $9,850,714. This represents a 5.90% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 1.40% of the company’s stock.

Arthur J. Gallagher & Co. Price Performance

NYSE AJG opened at $216.58 on Monday. Arthur J. Gallagher & Co. has a 52 week low of $190.75 and a 52 week high of $330.78. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 0.51. The stock has a market cap of $55.64 billion, a price-to-earnings ratio of 35.05, a price-to-earnings-growth ratio of 1.09 and a beta of 0.53. The company has a 50-day moving average price of $210.49 and a two-hundred day moving average price of $229.08.

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 the consensus estimate 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 firm earned $3.67 EPS. Arthur J. Gallagher & Co.’s quarterly revenue was up 29.0% on a year-over-year basis. Analysts forecast that Arthur J. Gallagher & Co. will post 13.27 EPS for the current year.

Arthur J. Gallagher & Co. Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 19th. Shareholders of record on Friday, June 5th will be given a $0.70 dividend. The ex-dividend date is Friday, June 5th. This represents a $2.80 annualized dividend and a yield of 1.3%. Arthur J. Gallagher & Co.’s dividend payout ratio is 45.31%.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on AJG shares. Mizuho dropped their price objective on shares of Arthur J. Gallagher & Co. from $260.00 to $259.00 and set an “outperform” rating on the stock in a research note on Monday, April 13th. Barclays increased their price objective on shares of Arthur J. Gallagher & Co. from $262.00 to $275.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 8th. Royal Bank Of Canada started coverage on shares of Arthur J. Gallagher & Co. in a research note on Tuesday, March 17th. They set an “outperform” rating and a $260.00 price objective on the stock. Truist Financial dropped their price objective on shares of Arthur J. Gallagher & Co. from $235.00 to $225.00 and set a “hold” rating on the stock in a research note on Friday, May 1st. Finally, Wall Street Zen upgraded shares of Arthur J. Gallagher & Co. from a “sell” rating to a “hold” rating in a research note on Saturday, February 21st. Eleven equities research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $264.00.

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.