Arthur J. Gallagher & Co. (NYSE:AJG) Stake Boosted by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. increased its position in shares of Arthur J. Gallagher & Co. (NYSE:AJGFree Report) by 1.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 57,686 shares of the financial services provider’s stock after acquiring an additional 576 shares during the period. PNC Financial Services Group Inc.’s holdings in Arthur J. Gallagher & Co. were worth $12,972,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently bought and sold shares of AJG. Norges Bank acquired a new stake in shares of Arthur J. Gallagher & Co. during the 4th quarter valued at about $1,308,316,000. Brown Advisory Inc. increased its stake in shares of Arthur J. Gallagher & Co. by 1,210.9% during the 4th quarter. Brown Advisory Inc. now owns 1,383,480 shares of the financial services provider’s stock worth $311,117,000 after purchasing an additional 1,277,945 shares during the last quarter. FMR LLC boosted its holdings in Arthur J. Gallagher & Co. by 8.1% in the third quarter. FMR LLC now owns 9,664,117 shares of the financial services provider’s stock worth $2,202,742,000 after purchasing an additional 726,485 shares in the last quarter. Bank Julius Baer & Co. Ltd Zurich increased its position in Arthur J. Gallagher & Co. by 36,168.9% during the third quarter. Bank Julius Baer & Co. Ltd Zurich now owns 357,974 shares of the financial services provider’s stock worth $81,593,000 after buying an additional 356,987 shares during the last quarter. Finally, Envestnet Asset Management Inc. lifted its position in shares of Arthur J. Gallagher & Co. by 26.6% in the third quarter. Envestnet Asset Management Inc. now owns 1,289,340 shares of the financial services provider’s stock worth $293,879,000 after buying an additional 271,225 shares during the last quarter. Hedge funds and other institutional investors own 85.53% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on AJG shares. Piper Sandler cut their price objective on Arthur J. Gallagher & Co. from $253.00 to $252.00 and set a “neutral” rating on the stock in a research note on Monday, April 29th. Truist Financial reissued a “hold” rating and set a $255.00 target price (down previously from $280.00) on shares of Arthur J. Gallagher & Co. in a research report on Wednesday, April 10th. Argus lifted their price objective on Arthur J. Gallagher & Co. from $264.00 to $270.00 and gave the stock a “buy” rating in a research note on Tuesday, May 14th. Keefe, Bruyette & Woods cut their target price on shares of Arthur J. Gallagher & Co. from $246.00 to $240.00 and set an “underperform” rating for the company in a research note on Wednesday, April 10th. Finally, Bank of America raised their price target on shares of Arthur J. Gallagher & Co. from $233.00 to $255.00 and gave the stock an “underperform” rating in a research report on Wednesday. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $255.71.

Get Our Latest Report on AJG

Arthur J. Gallagher & Co. Stock Down 0.1 %

Shares of AJG opened at $257.65 on Thursday. The business’s 50 day simple moving average is $244.64 and its 200-day simple moving average is $240.69. Arthur J. Gallagher & Co. has a one year low of $198.52 and a one year high of $259.35. The company has a market capitalization of $56.30 billion, a P/E ratio of 52.16, a PEG ratio of 2.39 and a beta of 0.69. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.05 and a quick ratio of 1.05.

Arthur J. Gallagher & Co. (NYSE:AJGGet Free Report) last announced its earnings results on Thursday, April 25th. The financial services provider reported $3.49 earnings per share for the quarter, beating analysts’ consensus estimates of $3.41 by $0.08. The company had revenue of $3.22 billion during the quarter, compared to analyst estimates of $3.18 billion. Arthur J. Gallagher & Co. had a return on equity of 18.94% and a net margin of 10.27%. The firm’s quarterly revenue was up 20.4% compared to the same quarter last year. During the same period last year, the company posted $3.03 earnings per share. As a group, sell-side analysts predict that Arthur J. Gallagher & Co. will post 10.08 EPS for the current fiscal year.

Arthur J. Gallagher & Co. Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, June 21st. Stockholders of record on Friday, June 7th will be paid a $0.60 dividend. The ex-dividend date of this dividend is Friday, June 7th. This represents a $2.40 annualized dividend and a dividend yield of 0.93%. Arthur J. Gallagher & Co.’s dividend payout ratio (DPR) is currently 48.58%.

Insider Transactions at Arthur J. Gallagher & Co.

In related news, CFO Douglas K. Howell sold 5,100 shares of Arthur J. Gallagher & Co. stock in a transaction dated Friday, May 17th. The stock was sold at an average price of $257.04, for a total value of $1,310,904.00. Following the completion of the sale, the chief financial officer now directly owns 75,852 shares in the company, valued at $19,496,998.08. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, CFO Douglas K. Howell sold 16,000 shares of Arthur J. Gallagher & Co. stock in a transaction on Friday, May 10th. The stock was sold at an average price of $248.41, for a total transaction of $3,974,560.00. Following the completion of the sale, the chief financial officer now directly owns 80,952 shares of the company’s stock, valued at $20,109,286.32. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Douglas K. Howell sold 5,100 shares of the company’s stock in a transaction dated Friday, May 17th. The shares were sold at an average price of $257.04, for a total value of $1,310,904.00. Following the completion of the sale, the chief financial officer now owns 75,852 shares of the company’s stock, valued at approximately $19,496,998.08. The disclosure for this sale can be found here. Insiders sold a total of 50,219 shares of company stock worth $12,727,781 over the last 90 days. 1.60% of the stock is owned by insiders.

About Arthur J. Gallagher & Co.

(Free Report)

Arthur J. Gallagher & Co, together with its subsidiaries, provides insurance and reinsurance brokerage, consulting, and third-party property/casualty claims settlement and administration services to entities and individuals worldwide. It operates in Brokerage and Risk Management segments. The Brokerage segment offers retail and wholesale insurance and reinsurance brokerage services; assists retail brokers and other non-affiliated brokers in the placement of specialized and hard-to-place insurance; and acts as a brokerage wholesaler, managing general agent, and managing general underwriter for distributing specialized insurance coverages to underwriting enterprises.

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Institutional Ownership by Quarter for Arthur J. Gallagher & Co. (NYSE:AJG)

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