Annex Advisory Services LLC Has $11.57 Million Position in Arthur J. Gallagher & Co. (NYSE:AJG)

Annex Advisory Services LLC raised its holdings in shares of Arthur J. Gallagher & Co. (NYSE:AJG) by 10.6% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 41,101 shares of the financial services provider’s stock after purchasing an additional 3,926 shares during the quarter. Annex Advisory Services LLC’s holdings in Arthur J. Gallagher & Co. were worth $11,565,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in AJG. Capital International Investors boosted its holdings in shares of Arthur J. Gallagher & Co. by 7.0% during the 1st quarter. Capital International Investors now owns 11,050,941 shares of the financial services provider’s stock worth $2,763,177,000 after buying an additional 727,325 shares during the period. Capital World Investors lifted its position in Arthur J. Gallagher & Co. by 9.0% during the first quarter. Capital World Investors now owns 4,832,060 shares of the financial services provider’s stock worth $1,208,208,000 after acquiring an additional 398,350 shares during the last quarter. Legal & General Group Plc grew its position in shares of Arthur J. Gallagher & Co. by 2.7% in the second quarter. Legal & General Group Plc now owns 1,640,938 shares of the financial services provider’s stock valued at $425,511,000 after purchasing an additional 42,841 shares during the last quarter. Boston Partners increased its stake in shares of Arthur J. Gallagher & Co. by 2.5% during the first quarter. Boston Partners now owns 1,611,299 shares of the financial services provider’s stock worth $402,206,000 after purchasing an additional 38,886 shares during the period. Finally, Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in Arthur J. Gallagher & Co. by 5.3% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,567,867 shares of the financial services provider’s stock worth $392,029,000 after purchasing an additional 79,271 shares during the last quarter. 85.53% of the stock is owned by institutional investors.

Arthur J. Gallagher & Co. Trading Up 0.8 %

Shares of AJG stock opened at $287.91 on Friday. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.04 and a current ratio of 1.04. Arthur J. Gallagher & Co. has a fifty-two week low of $218.63 and a fifty-two week high of $301.04. The company has a market cap of $62.91 billion, a PE ratio of 58.28, a P/E/G ratio of 2.53 and a beta of 0.72. The stock’s fifty day moving average price is $288.04 and its two-hundred day moving average price is $266.37.

Arthur J. Gallagher & Co. (NYSE:AJG) last released its earnings results on Thursday, July 25th. The financial services provider reported $2.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.24 by $0.02. The firm had revenue of $2.73 billion for the quarter, compared to analysts’ expectations of $2.77 billion. Arthur J. Gallagher & Co. had a return on equity of 19.25% and a net margin of 10.41%. The business’s revenue for the quarter was up 14.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.90 earnings per share. Equities analysts predict that Arthur J. Gallagher & Co. will post 10.11 EPS for the current fiscal year.

Arthur J. Gallagher & Co. Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 20th. Investors of record on Friday, September 6th were paid a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 0.83%. The ex-dividend date was Friday, September 6th. Arthur J. Gallagher & Co.’s payout ratio is 48.58%.

Insiders Place Their Bets

In related news, CFO Douglas K. Howell sold 7,000 shares of the firm’s stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $284.68, for a total transaction of $1,992,760.00. Following the sale, the chief financial officer now owns 75,963 shares of the company’s stock, valued at $21,625,146.84. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, President Thomas Joseph Gallagher sold 15,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $282.96, for a total value of $4,244,400.00. Following the completion of the transaction, the president now owns 329,099 shares in the company, valued at $93,121,853.04. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Douglas K. Howell sold 7,000 shares of the business’s stock in a transaction that occurred on Thursday, September 19th. The stock was sold at an average price of $284.68, for a total transaction of $1,992,760.00. Following the sale, the chief financial officer now directly owns 75,963 shares in the company, valued at $21,625,146.84. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 44,145 shares of company stock valued at $12,622,660. 1.60% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

AJG has been the topic of several recent research reports. Wells Fargo & Company increased their price objective on Arthur J. Gallagher & Co. from $309.00 to $315.00 and gave the stock an “overweight” rating in a research report on Thursday. Piper Sandler lifted their price objective on shares of Arthur J. Gallagher & Co. from $254.00 to $293.00 and gave the stock a “neutral” rating in a research note on Friday, September 20th. TD Cowen increased 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 research report on Tuesday, August 13th. Royal Bank of Canada lifted their price target on shares of Arthur J. Gallagher & Co. from $310.00 to $320.00 and gave the company an “outperform” rating in a research report on Friday, September 20th. Finally, Bank Of America (Bofa) increased their price target on Arthur J. Gallagher & Co. from $255.00 to $265.00 and gave the stock an “underperform” rating in a research report on Friday, July 26th. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $287.00.

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.