Sigma Investment Counselors Inc. Raises Position in Arthur J. Gallagher & Co. (NYSE:AJG)

Sigma Investment Counselors Inc. boosted its holdings in Arthur J. Gallagher & Co. (NYSE:AJGGet Rating) by 2.0% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 38,247 shares of the financial services provider’s stock after buying an additional 758 shares during the period. Sigma Investment Counselors Inc.’s holdings in Arthur J. Gallagher & Co. were worth $6,236,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of AJG. FinTrust Capital Advisors LLC bought a new stake in Arthur J. Gallagher & Co. in the first quarter worth $25,000. Riverview Trust Co purchased a new stake in Arthur J. Gallagher & Co. in the first quarter worth about $34,000. Ahrens Investment Partners LLC bought a new position in shares of Arthur J. Gallagher & Co. in the first quarter worth approximately $37,000. Zullo Investment Group Inc. lifted its stake in shares of Arthur J. Gallagher & Co. by 223.0% in the first quarter. Zullo Investment Group Inc. now owns 239 shares of the financial services provider’s stock worth $42,000 after buying an additional 165 shares in the last quarter. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA bought a new position in Arthur J. Gallagher & Co. in the fourth quarter worth approximately $51,000. 81.22% of the stock is currently owned by hedge funds and other institutional investors.

Arthur J. Gallagher & Co. Stock Performance

NYSE AJG traded down $1.45 during trading on Friday, reaching $171.08. The company’s stock had a trading volume of 18,682 shares, compared to its average volume of 1,004,971. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.05 and a current ratio of 1.05. The firm has a market cap of $35.98 billion, a price-to-earnings ratio of 34.85, a P/E/G ratio of 2.25 and a beta of 0.67. Arthur J. Gallagher & Co. has a twelve month low of $147.32 and a twelve month high of $191.99. The business’s fifty day moving average price is $180.51 and its 200-day moving average price is $170.71.

Arthur J. Gallagher & Co. (NYSE:AJGGet Rating) last released its quarterly earnings data on Thursday, July 28th. The financial services provider reported $1.70 EPS for the quarter, topping analysts’ consensus estimates of $1.68 by $0.02. Arthur J. Gallagher & Co. had a net margin of 12.31% and a return on equity of 16.62%. The firm had revenue of $2.04 billion for the quarter, compared to the consensus estimate of $2.04 billion. During the same quarter in the previous year, the firm earned $1.17 earnings per share. The firm’s revenue was up 5.7% on a year-over-year basis. As a group, analysts anticipate that Arthur J. Gallagher & Co. will post 7.76 EPS for the current fiscal year.

Arthur J. Gallagher & Co. Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 16th. Stockholders of record on Friday, September 2nd were given a $0.51 dividend. This represents a $2.04 annualized dividend and a dividend yield of 1.19%. The ex-dividend date was Thursday, September 1st. Arthur J. Gallagher & Co.’s payout ratio is currently 41.21%.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. Raymond James increased their price objective on shares of Arthur J. Gallagher & Co. from $195.00 to $205.00 and gave the stock a “strong-buy” rating in a research note on Monday, August 1st. Piper Sandler downgraded Arthur J. Gallagher & Co. from an “overweight” rating to a “neutral” rating and set a $195.00 price target for the company. in a research report on Wednesday. Morgan Stanley lifted their target price on Arthur J. Gallagher & Co. from $162.00 to $215.00 and gave the stock an “equal weight” rating in a research report on Friday, August 19th. Jefferies Financial Group reduced their price objective on shares of Arthur J. Gallagher & Co. from $211.00 to $200.00 and set a “buy” rating for the company in a research note on Tuesday, July 12th. Finally, Evercore ISI set a $195.00 price objective on shares of Arthur J. Gallagher & Co. in a research note on Monday, June 20th. Four equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $201.55.

Insider Transactions at Arthur J. Gallagher & Co.

In other news, VP Joel D. Cavaness sold 16,200 shares of the company’s stock in a transaction on Thursday, August 11th. The shares were sold at an average price of $187.07, for a total value of $3,030,534.00. Following the completion of the transaction, the vice president now directly owns 121,087 shares in the company, valued at $22,651,745.09. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, VP Joel D. Cavaness sold 16,200 shares of the stock in a transaction dated Thursday, August 11th. The shares were sold at an average price of $187.07, for a total value of $3,030,534.00. Following the sale, the vice president now owns 121,087 shares of the company’s stock, valued at approximately $22,651,745.09. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director David S. Johnson sold 1,000 shares of the stock in a transaction dated Monday, August 22nd. The stock was sold at an average price of $190.14, for a total transaction of $190,140.00. Following the completion of the sale, the director now directly owns 47,508 shares in the company, valued at approximately $9,033,171.12. The disclosure for this sale can be found here. Insiders sold 31,683 shares of company stock valued at $5,901,941 over the last 90 days. Corporate insiders own 1.40% of the company’s stock.

Arthur J. Gallagher & Co. Profile

(Get Rating)

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.

Further Reading

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

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