Perennial Investment Advisors LLC Has $250,000 Stake in Arthur J. Gallagher & Co. (NYSE:AJG)

Perennial Investment Advisors LLC lifted its position in shares of Arthur J. Gallagher & Co. (NYSE:AJG) by 13.3% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 963 shares of the financial services provider’s stock after purchasing an additional 113 shares during the quarter. Perennial Investment Advisors LLC’s holdings in Arthur J. Gallagher & Co. were worth $250,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Gilbert & Cook Inc. boosted its position in Arthur J. Gallagher & Co. by 5.0% during the 4th quarter. Gilbert & Cook Inc. now owns 5,398 shares of the financial services provider’s stock worth $1,214,000 after acquiring an additional 259 shares during the last quarter. Jump Financial LLC acquired a new position in Arthur J. Gallagher & Co. during the fourth quarter worth $551,000. Janney Montgomery Scott LLC grew its position in Arthur J. Gallagher & Co. by 4.5% in the fourth quarter. Janney Montgomery Scott LLC now owns 22,412 shares of the financial services provider’s stock valued at $5,040,000 after purchasing an additional 967 shares in the last quarter. ING Groep NV increased its stake in Arthur J. Gallagher & Co. by 1.5% in the 4th quarter. ING Groep NV now owns 10,203 shares of the financial services provider’s stock valued at $2,294,000 after buying an additional 148 shares during the last quarter. Finally, Dynamic Technology Lab Private Ltd bought a new stake in Arthur J. Gallagher & Co. during the 4th quarter worth about $264,000. 85.53% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Arthur J. Gallagher & Co. news, General Counsel Walter D. Bay sold 6,335 shares of the stock in a transaction that occurred on Tuesday, July 30th. The shares were sold at an average price of $284.06, for a total transaction of $1,799,520.10. Following the transaction, the general counsel now owns 30,053 shares in the company, valued at approximately $8,536,855.18. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, General Counsel Walter D. Bay sold 6,335 shares of the business’s stock in a transaction that occurred on Tuesday, July 30th. The stock was sold at an average price of $284.06, for a total value of $1,799,520.10. Following the completion of the sale, the general counsel now directly owns 30,053 shares in the company, valued at $8,536,855.18. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CFO Douglas K. Howell sold 8,710 shares of the firm’s stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $285.07, for a total value of $2,482,959.70. Following the transaction, the chief financial officer now owns 75,963 shares in the company, valued at approximately $21,654,772.41. The disclosure for this sale can be found here. Insiders sold 37,145 shares of company stock worth $10,629,900 in the last quarter. 1.60% of the stock is currently owned by corporate insiders.

Arthur J. Gallagher & Co. Trading Down 1.2 %

Shares of AJG stock opened at $295.94 on Wednesday. Arthur J. Gallagher & Co. has a 12-month low of $218.63 and a 12-month high of $301.04. The firm has a 50 day moving average price of $284.68 and a two-hundred day moving average price of $262.15. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.67. The company has a market capitalization of $64.66 billion, a PE ratio of 59.91, a price-to-earnings-growth ratio of 2.47 and a beta of 0.72.

Arthur J. Gallagher & Co. (NYSE:AJG) last released its quarterly earnings results on Thursday, July 25th. The financial services provider reported $2.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.24 by $0.02. The business had revenue of $2.73 billion during the quarter, compared to the consensus estimate of $2.77 billion. Arthur J. Gallagher & Co. had a return on equity of 19.25% and a net margin of 10.41%. The firm’s quarterly revenue was up 14.3% on a year-over-year basis. During the same period in the previous year, the company posted $1.90 EPS. As a group, analysts predict that Arthur J. Gallagher & Co. will post 10.16 earnings per share for the current year.

Arthur J. Gallagher & Co. Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 20th. Investors of record on Friday, September 6th will be given a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 0.81%. The ex-dividend date of this dividend is Friday, September 6th. Arthur J. Gallagher & Co.’s dividend payout ratio is 48.58%.

Wall Street Analyst Weigh In

AJG has been the topic of a number of recent research reports. Barclays assumed coverage on Arthur J. Gallagher & Co. in a research report on Wednesday, September 4th. They issued an “equal weight” rating and a $300.00 target price on the stock. BMO Capital Markets upped their price objective on Arthur J. Gallagher & Co. from $275.00 to $295.00 and gave the stock an “outperform” rating in a research note on Friday, July 26th. Piper Sandler increased their price objective on Arthur J. Gallagher & Co. from $252.00 to $254.00 and gave the company a “neutral” rating in a report on Friday, July 26th. TD Cowen boosted their target price on shares of Arthur J. Gallagher & Co. from $273.00 to $288.00 and gave the stock a “hold” rating in a report on Tuesday, August 13th. Finally, UBS Group increased their price target on shares of Arthur J. Gallagher & Co. from $260.00 to $292.00 and gave the company a “neutral” rating in a research note on Wednesday, July 31st. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, Arthur J. Gallagher & Co. has a consensus rating of “Hold” and a consensus target price of $276.82.

Arthur J. Gallagher & Co. Company Profile

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.