Public Sector Pension Investment Board Increases Position in Arthur J. Gallagher & Co. (NYSE:AJG)

Public Sector Pension Investment Board grew its holdings in Arthur J. Gallagher & Co. (NYSE:AJG) by 3.2% in the third quarter, according to its most recent disclosure with the SEC. The fund owned 38,195 shares of the financial services provider’s stock after buying an additional 1,188 shares during the period. Public Sector Pension Investment Board’s holdings in Arthur J. Gallagher & Co. were worth $10,747,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in AJG. Tidal Investments LLC increased its stake in shares of Arthur J. Gallagher & Co. by 132.1% during the first quarter. Tidal Investments LLC now owns 7,189 shares of the financial services provider’s stock worth $1,798,000 after acquiring an additional 4,092 shares during the period. Swedbank AB acquired a new position in shares of Arthur J. Gallagher & Co. during the first quarter worth about $3,297,000. Atria Investments Inc increased its stake in shares of Arthur J. Gallagher & Co. by 6.3% during the first quarter. Atria Investments Inc now owns 25,161 shares of the financial services provider’s stock worth $6,291,000 after acquiring an additional 1,499 shares during the period. Cetera Investment Advisers increased its stake in shares of Arthur J. Gallagher & Co. by 165.9% during the first quarter. Cetera Investment Advisers now owns 54,449 shares of the financial services provider’s stock worth $13,615,000 after acquiring an additional 33,972 shares during the period. Finally, Cetera Advisors LLC increased its stake in shares of Arthur J. Gallagher & Co. by 113.9% during the first quarter. Cetera Advisors LLC now owns 13,926 shares of the financial services provider’s stock worth $3,482,000 after acquiring an additional 7,415 shares during the period. 85.53% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have weighed in on AJG. Piper Sandler upped their target price on shares of Arthur J. Gallagher & Co. from $254.00 to $293.00 and gave the stock a “neutral” rating in a research report on Friday, September 20th. Wells Fargo & Company upped their price target on shares of Arthur J. Gallagher & Co. from $309.00 to $315.00 and gave the company an “overweight” rating in a report on Thursday, October 10th. TD Cowen upped their price target on shares of Arthur J. Gallagher & Co. from $273.00 to $288.00 and gave the company a “hold” rating in a report on Tuesday, August 13th. Truist Financial upped their price target on shares of Arthur J. Gallagher & Co. from $265.00 to $275.00 and gave the company a “hold” rating in a report on Friday, September 20th. Finally, Barclays upped their price target on shares of Arthur J. Gallagher & Co. from $300.00 to $308.00 and gave the company an “equal weight” rating in a report on Thursday, November 21st. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $291.64.

Insider Transactions at Arthur J. Gallagher & Co.

In other news, VP Christopher E. Mead sold 2,800 shares of the firm’s stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $287.00, for a total value of $803,600.00. Following the transaction, the vice president now directly owns 14,674 shares in the company, valued at approximately $4,211,438. This trade represents a 16.02 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, President Michael Robert Pesch sold 7,100 shares of the firm’s stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $296.20, for a total transaction of $2,103,020.00. Following the completion of the transaction, the president now owns 33,267 shares in the company, valued at approximately $9,853,685.40. The trade was a 17.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 23,900 shares of company stock valued at $6,892,280 over the last 90 days. Corporate insiders own 1.60% of the company’s stock.

Arthur J. Gallagher & Co. Stock Performance

NYSE:AJG opened at $315.16 on Friday. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.64. The company has a market cap of $69.15 billion, a P/E ratio of 60.03, a P/E/G ratio of 2.61 and a beta of 0.72. Arthur J. Gallagher & Co. has a fifty-two week low of $218.63 and a fifty-two week high of $315.73. The firm’s 50 day moving average is $290.17 and its two-hundred day moving average is $278.55.

Arthur J. Gallagher & Co. (NYSE:AJG) last posted its quarterly earnings results on Thursday, October 24th. The financial services provider reported $2.26 earnings per share for the quarter, hitting analysts’ consensus estimates of $2.26. The company had revenue of $2.77 billion for the quarter, compared to the consensus estimate of $2.78 billion. Arthur J. Gallagher & Co. had a net margin of 10.40% and a return on equity of 19.12%. Arthur J. Gallagher & Co.’s revenue was up 12.8% on a year-over-year basis. During the same quarter last year, the firm posted $2.00 earnings per share. Analysts expect that Arthur J. Gallagher & Co. will post 10.12 EPS for the current year.

Arthur J. Gallagher & Co. Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Friday, December 6th will be given a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 0.76%. The ex-dividend date is Friday, December 6th. Arthur J. Gallagher & Co.’s payout ratio is currently 45.71%.

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.