Patrick M Sweeney & Associates Inc. Makes New Investment in Arthur J. Gallagher & Co. (NYSE:AJG)

Patrick M Sweeney & Associates Inc. acquired a new stake in shares of Arthur J. Gallagher & Co. (NYSE:AJG) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 1,623 shares of the financial services provider’s stock, valued at approximately $365,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in AJG. McGlone Suttner Wealth Management Inc. grew its stake in shares of Arthur J. Gallagher & Co. by 4.0% during the 4th quarter. McGlone Suttner Wealth Management Inc. now owns 2,286 shares of the financial services provider’s stock valued at $514,000 after purchasing an additional 88 shares during the period. Fidelis Capital Partners LLC grew its position in Arthur J. Gallagher & Co. by 3.7% during the third quarter. Fidelis Capital Partners LLC now owns 1,325 shares of the financial services provider’s stock valued at $302,000 after buying an additional 47 shares during the period. Mackenzie Financial Corp increased its holdings in Arthur J. Gallagher & Co. by 16.1% during the fourth quarter. Mackenzie Financial Corp now owns 112,087 shares of the financial services provider’s stock valued at $25,206,000 after buying an additional 15,528 shares during the last quarter. National Bank of Canada FI boosted its stake in shares of Arthur J. Gallagher & Co. by 3.2% during the 4th quarter. National Bank of Canada FI now owns 92,061 shares of the financial services provider’s stock worth $20,713,000 after acquiring an additional 2,821 shares during the last quarter. Finally, Louisiana State Employees Retirement System bought a new stake in shares of Arthur J. Gallagher & Co. during the 4th quarter valued at $2,946,000. Institutional investors own 85.53% of the company’s stock.

Insider Transactions at Arthur J. Gallagher & Co.

In related news, VP Scott R. Hudson sold 15,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $255.06, for a total value of $3,825,900.00. Following the sale, the vice president now owns 96,709 shares of the company’s stock, valued at $24,666,597.54. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, VP Joel D. Cavaness sold 1,207 shares of the firm’s stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $255.20, for a total transaction of $308,026.40. Following the sale, the vice president now owns 2,023 shares of the company’s stock, valued at approximately $516,269.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Scott R. Hudson sold 15,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of $255.06, for a total value of $3,825,900.00. Following the sale, the vice president now owns 96,709 shares of the company’s stock, valued at approximately $24,666,597.54. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 28,516 shares of company stock valued at $7,059,160. 1.60% of the stock is currently owned by corporate insiders.

Arthur J. Gallagher & Co. Price Performance

Shares of Arthur J. Gallagher & Co. stock traded down $0.01 during mid-day trading on Wednesday, reaching $245.01. 686,623 shares of the stock traded hands, compared to its average volume of 859,062. The business has a 50-day moving average of $243.71 and a 200 day moving average of $239.27. Arthur J. Gallagher & Co. has a fifty-two week low of $198.52 and a fifty-two week high of $256.10. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.70. The stock has a market capitalization of $53.53 billion, a PE ratio of 49.60, a PEG ratio of 2.23 and a beta of 0.69.

Arthur J. Gallagher & Co. (NYSE:AJG) last released its quarterly earnings data on Thursday, April 25th. The financial services provider reported $3.49 EPS for the quarter, beating analysts’ consensus estimates of $3.41 by $0.08. Arthur J. Gallagher & Co. had a return on equity of 18.94% and a net margin of 10.27%. The firm had revenue of $3.22 billion for the quarter, compared to analysts’ expectations of $3.18 billion. During the same period in the prior year, the firm posted $3.03 earnings per share. The firm’s quarterly revenue was up 20.4% on a year-over-year basis. On average, analysts predict that Arthur J. Gallagher & Co. will post 10.08 EPS for the current year.

Arthur J. Gallagher & Co. Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 21st. Shareholders of record on Friday, June 7th will be given a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 0.98%. The ex-dividend date is Friday, June 7th. Arthur J. Gallagher & Co.’s dividend payout ratio is currently 48.58%.

Analyst Upgrades and Downgrades

AJG has been the topic of several analyst reports. Truist Financial reiterated a “hold” rating and set a $255.00 target price (down from $280.00) on shares of Arthur J. Gallagher & Co. in a research report on Wednesday, April 10th. Royal Bank of Canada lifted their price target on shares of Arthur J. Gallagher & Co. from $270.00 to $282.00 and gave the company an “outperform” rating in a report on Friday, March 22nd. Jefferies Financial Group cut shares of Arthur J. Gallagher & Co. from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $279.00 to $233.00 in a research note on Tuesday, January 9th. TD Cowen upped their target price on shares of Arthur J. Gallagher & Co. from $249.00 to $273.00 and gave the stock a “hold” rating in a report on Tuesday, April 2nd. Finally, Keefe, Bruyette & Woods lowered their price objective on Arthur J. Gallagher & Co. from $246.00 to $240.00 and set an “underperform” rating on the stock in a research report on Wednesday, April 10th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, Arthur J. Gallagher & Co. presently has an average rating of “Hold” and a consensus price target of $255.31.

About Arthur J. Gallagher & Co.

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.