Teachers Retirement System of The State of Kentucky lessened its holdings in Arthur J. Gallagher & Co. (NYSE:AJG – Get Rating) by 4.2% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 14,423 shares of the financial services provider’s stock after selling 627 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in Arthur J. Gallagher & Co. were worth $2,518,000 as of its most recent SEC filing.
Other institutional investors also recently modified their holdings of the company. FinTrust Capital Advisors LLC bought a new stake in shares of Arthur J. Gallagher & Co. in the first quarter valued at about $25,000. Riverview Trust Co bought a new stake in Arthur J. Gallagher & Co. during the first quarter worth about $34,000. Ahrens Investment Partners LLC bought a new stake in Arthur J. Gallagher & Co. during the first quarter worth about $37,000. Zullo Investment Group Inc. lifted its position in Arthur J. Gallagher & Co. by 223.0% during the first quarter. Zullo Investment Group Inc. now owns 239 shares of the financial services provider’s stock worth $42,000 after purchasing an additional 165 shares during the period. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA bought a new stake in Arthur J. Gallagher & Co. during the fourth quarter worth about $51,000. Institutional investors own 81.22% of the company’s stock.
Analyst Ratings Changes
Several research firms recently weighed in on AJG. The Goldman Sachs Group began coverage on shares of Arthur J. Gallagher & Co. in a research report on Tuesday, July 12th. They set a “buy” rating and a $198.00 price objective for the company. Morgan Stanley increased their target price on shares of Arthur J. Gallagher & Co. from $162.00 to $215.00 and gave the stock an “equal weight” rating in a report on Friday, August 19th. Evercore ISI set a $195.00 target price on shares of Arthur J. Gallagher & Co. in a report on Monday, June 20th. Argus began coverage on shares of Arthur J. Gallagher & Co. in a report on Friday, August 26th. They issued a “buy” rating and a $215.00 target price for the company. Finally, Royal Bank of Canada raised shares of Arthur J. Gallagher & Co. from a “sector perform” rating to an “outperform” rating and increased their target price for the stock from $182.00 to $185.00 in a report on Thursday, June 16th. Three research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $201.90.
Insider Buying and Selling at Arthur J. Gallagher & Co.
Arthur J. Gallagher & Co. Stock Performance
Arthur J. Gallagher & Co. stock opened at $181.39 on Tuesday. The business has a 50 day moving average of $179.53 and a 200-day moving average of $170.34. Arthur J. Gallagher & Co. has a 1 year low of $144.78 and a 1 year high of $191.99. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.05 and a quick ratio of 1.05. The company has a market capitalization of $38.15 billion, a P/E ratio of 36.25, a P/E/G ratio of 2.31 and a beta of 0.67.
Arthur J. Gallagher & Co. (NYSE:AJG – Get Rating) last released its earnings results on Thursday, July 28th. The financial services provider reported $1.70 earnings per share for the quarter, beating analysts’ consensus estimates of $1.68 by $0.02. The business had revenue of $2.04 billion during the quarter, compared to the consensus estimate of $2.04 billion. Arthur J. Gallagher & Co. had a net margin of 12.31% and a return on equity of 16.62%. The company’s revenue for the quarter was up 5.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.17 EPS. On average, equities research analysts predict that Arthur J. Gallagher & Co. will post 7.78 earnings per share for the current year.
Arthur J. Gallagher & Co. Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Friday, September 16th. Shareholders of record on Friday, September 2nd were given a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a yield of 1.12%. The ex-dividend date of this dividend was Thursday, September 1st. Arthur J. Gallagher & Co.’s dividend payout ratio is presently 41.21%.
About Arthur J. Gallagher & Co.
Arthur J. Gallagher & Co, together with its subsidiaries, provides insurance brokerage, consulting, third-party claims settlement, and administration services in the United States, Australia, Bermuda, Canada, the Caribbean, New Zealand, India, and the United Kingdom. It operates through Brokerage and Risk Management segments.
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