Investment Management Corp of Ontario Raises Stock Holdings in Arthur J. Gallagher & Co. $AJG

Investment Management Corp of Ontario lifted its holdings in shares of Arthur J. Gallagher & Co. (NYSE:AJG) by 10.6% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 112,834 shares of the financial services provider’s stock after acquiring an additional 10,782 shares during the quarter. Investment Management Corp of Ontario’s holdings in Arthur J. Gallagher & Co. were worth $29,200,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of AJG. Norges Bank purchased a new stake in Arthur J. Gallagher & Co. in the fourth quarter worth $1,925,062,000. T. Rowe Price Investment Management Inc. increased its position in Arthur J. Gallagher & Co. by 44.9% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 3,815,684 shares of the financial services provider’s stock worth $987,461,000 after buying an additional 1,181,644 shares during the last quarter. Northwestern Mutual Wealth Management Co. increased its position in Arthur J. Gallagher & Co. by 9,244.9% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 1,053,636 shares of the financial services provider’s stock worth $272,670,000 after buying an additional 1,042,361 shares during the last quarter. Viking Global Investors LP purchased a new stake in Arthur J. Gallagher & Co. in the fourth quarter worth $269,394,000. Finally, Dodge & Cox purchased a new stake in Arthur J. Gallagher & Co. in the fourth quarter worth $227,887,000. 85.53% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on AJG. Piper Sandler decreased their target price on Arthur J. Gallagher & Co. from $226.00 to $211.00 and set a “neutral” rating for the company in a research report on Friday, May 1st. Barclays raised their target price on Arthur J. Gallagher & Co. from $262.00 to $275.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 8th. Morgan Stanley decreased their target price on Arthur J. Gallagher & Co. from $265.00 to $240.00 and set an “overweight” rating for the company in a research report on Thursday, May 21st. Truist Financial decreased their target price on Arthur J. Gallagher & Co. from $235.00 to $225.00 and set a “hold” rating for the company in a research report on Friday, May 1st. Finally, Royal Bank Of Canada began coverage on Arthur J. Gallagher & Co. in a report on Tuesday, March 17th. They issued an “outperform” rating and a $260.00 price target for the company. Thirteen equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $263.71.

Arthur J. Gallagher & Co. Stock Performance

Arthur J. Gallagher & Co. stock opened at $216.21 on Thursday. The firm’s 50 day simple moving average is $210.84 and its 200 day simple moving average is $227.22. 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 firm has a market capitalization of $55.54 billion, a PE ratio of 34.99, a price-to-earnings-growth ratio of 1.09 and a beta of 0.52. Arthur J. Gallagher & Co. has a 1-year low of $190.75 and a 1-year high of $327.34.

Arthur J. Gallagher & Co. (NYSE:AJG) last posted its earnings results on Thursday, April 30th. The financial services provider reported $4.47 earnings per share for the quarter, topping analysts’ consensus estimates of $4.43 by $0.04. The business had revenue of $4.71 billion for the quarter, compared to analyst estimates of $4.73 billion. Arthur J. Gallagher & Co. had a net margin of 10.76% and a return on equity of 12.83%. Arthur J. Gallagher & Co.’s revenue was up 29.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $3.67 EPS. As a group, analysts expect that Arthur J. Gallagher & Co. will post 13.27 earnings per share for the current fiscal year.

Arthur J. Gallagher & Co. Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 19th. Investors of record on Friday, June 5th will be paid a dividend of $0.70 per share. The ex-dividend date of this dividend 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 (DPR) is currently 45.31%.

Insider Transactions at Arthur J. Gallagher & Co.

In related news, CAO Richard C. Cary sold 3,000 shares of Arthur J. Gallagher & Co. stock in a transaction on Tuesday, June 2nd. The stock was sold at an average price of $206.00, for a total transaction of $618,000.00. Following the completion of the sale, the chief accounting officer owned 47,819 shares of the company’s stock, valued at approximately $9,850,714. This trade represents a 5.90% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 1.40% of the company’s stock.

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.