Optimal Asset Management Inc. Buys 2,700 Shares of Arthur J. Gallagher & Co. (NYSE:AJG)

Optimal Asset Management Inc. grew its holdings in shares of Arthur J. Gallagher & Co. (NYSE:AJG) by 93.1% in the first quarter, HoldingsChannel.com reports. The fund owned 5,600 shares of the financial services provider’s stock after acquiring an additional 2,700 shares during the quarter. Optimal Asset Management Inc.’s holdings in Arthur J. Gallagher & Co. were worth $699,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the business. 44 Wealth Management LLC grew its stake in shares of Arthur J. Gallagher & Co. by 11.8% in the 1st quarter. 44 Wealth Management LLC now owns 5,722 shares of the financial services provider’s stock valued at $714,000 after buying an additional 603 shares during the period. Man Group plc grew its stake in shares of Arthur J. Gallagher & Co. by 40.2% in the 1st quarter. Man Group plc now owns 73,999 shares of the financial services provider’s stock valued at $9,232,000 after buying an additional 21,221 shares during the period. California State Teachers Retirement System grew its stake in shares of Arthur J. Gallagher & Co. by 0.9% in the 1st quarter. California State Teachers Retirement System now owns 347,586 shares of the financial services provider’s stock valued at $43,368,000 after buying an additional 3,164 shares during the period. Ameritas Investment Company LLC bought a new position in Arthur J. Gallagher & Co. in the 1st quarter valued at about $686,000. Finally, Running Oak Capital LLC lifted its position in Arthur J. Gallagher & Co. by 0.8% in the 1st quarter. Running Oak Capital LLC now owns 45,740 shares of the financial services provider’s stock valued at $5,707,000 after acquiring an additional 342 shares in the last quarter. Hedge funds and other institutional investors own 78.86% of the company’s stock.

NYSE:AJG opened at $140.85 on Thursday. The firm’s 50 day moving average price is $142.63. Arthur J. Gallagher & Co. has a 52 week low of $100.32 and a 52 week high of $154.03. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 0.64. The stock has a market capitalization of $29.05 billion, a PE ratio of 28.31, a price-to-earnings-growth ratio of 2.69 and a beta of 0.69.

Arthur J. Gallagher & Co. (NYSE:AJG) last posted its quarterly earnings results on Wednesday, April 28th. The financial services provider reported $2.02 EPS for the quarter, beating the Zacks’ consensus estimate of $1.84 by $0.18. The firm had revenue of $2.13 billion for the quarter, compared to analysts’ expectations of $1.92 billion. Arthur J. Gallagher & Co. had a net margin of 11.70% and a return on equity of 15.89%. On average, sell-side analysts forecast that Arthur J. Gallagher & Co. will post 5.13 EPS for the current year.

The firm also recently declared a quarterly dividend, which was paid on Friday, June 18th. Shareholders of record on Friday, June 4th were given a $0.48 dividend. The ex-dividend date of this dividend was Thursday, June 3rd. This represents a $1.92 annualized dividend and a yield of 1.36%. Arthur J. Gallagher & Co.’s payout ratio is presently 40.68%.

Several brokerages recently weighed in on AJG. Wells Fargo & Company reaffirmed a “buy” rating on shares of Arthur J. Gallagher & Co. in a research report on Friday, June 18th. Morgan Stanley lifted their target price on shares of Arthur J. Gallagher & Co. from $135.00 to $147.00 and gave the stock an “equal weight” rating in a research report on Thursday, May 27th. Truist boosted their price target on shares of Arthur J. Gallagher & Co. from $143.00 to $165.00 in a research report on Friday, April 30th. Bank of America assumed coverage on shares of Arthur J. Gallagher & Co. in a research report on Friday, May 21st. They set an “underperform” rating and a $133.00 price target for the company. Finally, Royal Bank of Canada upped their target price on shares of Arthur J. Gallagher & Co. from $124.00 to $142.00 and gave the stock a “sector perform” rating in a research report on Friday, April 30th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. Arthur J. Gallagher & Co. has a consensus rating of “Buy” and a consensus price target of $147.07.

Arthur J. Gallagher & Co. Company Profile

Arthur J. Gallagher & Co, together with its subsidiaries, provides insurance brokerage, consulting, and third party claims settlement and administration services in the United States, Australia, Bermuda, Canada, the Caribbean, New Zealand, India, and the United Kingdom. Its Brokerage segment consists of retail and wholesale insurance brokerage operations.

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Institutional Ownership by Quarter for Arthur J. Gallagher & Co. (NYSE:AJG)

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