Bath Savings Trust Co Boosts Holdings in Arthur J. Gallagher & Co. (NYSE:AJG)

Bath Savings Trust Co lifted its stake in shares of Arthur J. Gallagher & Co. (NYSE:AJG) by 14.6% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 23,961 shares of the financial services provider’s stock after buying an additional 3,045 shares during the quarter. Bath Savings Trust Co’s holdings in Arthur J. Gallagher & Co. were worth $8,272,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Norges Bank purchased a new position in shares of Arthur J. Gallagher & Co. during the 4th quarter worth approximately $1,421,591,000. Vanguard Group Inc. grew its stake in Arthur J. Gallagher & Co. by 14.9% in the fourth quarter. Vanguard Group Inc. now owns 29,672,134 shares of the financial services provider’s stock worth $8,422,435,000 after purchasing an additional 3,851,661 shares during the period. Winslow Capital Management LLC purchased a new stake in Arthur J. Gallagher & Co. in the fourth quarter worth $719,489,000. Capital World Investors lifted its position in Arthur J. Gallagher & Co. by 30.4% during the fourth quarter. Capital World Investors now owns 8,199,413 shares of the financial services provider’s stock valued at $2,327,403,000 after buying an additional 1,910,471 shares during the period. Finally, Wellington Management Group LLP lifted its position in Arthur J. Gallagher & Co. by 162.0% during the fourth quarter. Wellington Management Group LLP now owns 2,822,319 shares of the financial services provider’s stock valued at $801,115,000 after buying an additional 1,745,283 shares during the period. Hedge funds and other institutional investors own 85.53% of the company’s stock.

Arthur J. Gallagher & Co. Stock Up 0.5%

AJG stock opened at $341.54 on Friday. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.51 and a quick ratio of 1.51. Arthur J. Gallagher & Co. has a 1-year low of $244.60 and a 1-year high of $350.70. The stock has a market capitalization of $87.47 billion, a P/E ratio of 52.38 and a beta of 0.78. The business has a fifty day moving average price of $332.65 and a 200-day moving average price of $314.96.

Arthur J. Gallagher & Co. (NYSE:AJG) last announced its quarterly earnings results on Thursday, May 1st. The financial services provider reported $3.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.57 by $0.10. The firm had revenue of $3.69 billion for the quarter, compared to the consensus estimate of $3.85 billion. Arthur J. Gallagher & Co. had a net margin of 12.70% and a return on equity of 16.47%. The business’s quarterly revenue was up 14.5% compared to the same quarter last year. During the same quarter last year, the firm posted $3.45 EPS. Equities analysts forecast that Arthur J. Gallagher & Co. will post 11.54 earnings per share for the current fiscal year.

Arthur J. Gallagher & Co. Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 20th. Investors of record on Friday, June 6th will be issued a $0.65 dividend. This represents a $2.60 annualized dividend and a yield of 0.76%. The ex-dividend date is Friday, June 6th. Arthur J. Gallagher & Co.’s dividend payout ratio is currently 37.63%.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on AJG shares. Barclays lifted their price target on shares of Arthur J. Gallagher & Co. from $308.00 to $346.00 and gave the company an “equal weight” rating in a research report on Friday, April 11th. Keefe, Bruyette & Woods lifted their target price on shares of Arthur J. Gallagher & Co. from $307.00 to $315.00 and gave the company a “market perform” rating in a report on Friday, May 2nd. Jefferies Financial Group cut their price target on Arthur J. Gallagher & Co. from $266.00 to $265.00 and set a “hold” rating on the stock in a research note on Friday, April 11th. Truist Financial lifted their price objective on Arthur J. Gallagher & Co. from $275.00 to $290.00 and gave the company a “hold” rating in a research note on Friday, January 31st. Finally, Redburn Atlantic initiated coverage on Arthur J. Gallagher & Co. in a research note on Tuesday, March 25th. They issued a “neutral” rating and a $352.00 target price on the stock. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $318.57.

Insider Buying and Selling at Arthur J. Gallagher & Co.

In other Arthur J. Gallagher & Co. news, insider Susan E. Pietrucha sold 13,500 shares of the firm’s stock in a transaction dated Monday, May 19th. The stock was sold at an average price of $344.13, for a total value of $4,645,755.00. Following the transaction, the insider now directly owns 11,941 shares of the company’s stock, valued at approximately $4,109,256.33. This trade represents a 53.06% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Scott R. Hudson sold 7,510 shares of the company’s stock in a transaction dated Friday, March 21st. The shares were sold at an average price of $333.59, for a total transaction of $2,505,260.90. Following the sale, the vice president now directly owns 90,020 shares of the company’s stock, valued at $30,029,771.80. The trade was a 7.70% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 32,510 shares of company stock worth $11,033,341. Insiders own 1.60% of the company’s stock.

Arthur J. Gallagher & Co. Company Profile

Arthur J. Gallagher & Co engages in the provision of insurance brokerage, reinsurance brokerage, consulting, and third-party claims settlement and administration services. It operates through the following segments: Brokerage, Risk Management, and Corporate. The Brokerage segment consists of retail and wholesale insurance brokerage operations.