2,057 Shares in Arthur J. Gallagher & Co. $AJG Bought by Avity Investment Management Inc.

Avity Investment Management Inc. bought a new position in Arthur J. Gallagher & Co. (NYSE:AJG) during the 2nd quarter, Holdings Channel.com reports. The fund bought 2,057 shares of the financial services provider’s stock, valued at approximately $472,000.

A number of other large investors have also made changes to their positions in the company. Kemnay Advisory Services Inc. bought a new position in shares of Arthur J. Gallagher & Co. in the 4th quarter worth approximately $26,000. Axiom Investment Management LLC bought a new stake in Arthur J. Gallagher & Co. during the first quarter valued at approximately $28,000. Cassaday & Co Wealth Management LLC purchased a new stake in Arthur J. Gallagher & Co. during the first quarter valued at approximately $29,000. MV Capital Management Inc. bought a new position in Arthur J. Gallagher & Co. in the fourth quarter worth approximately $34,000. Finally, Rakuten Securities Inc. boosted its stake in shares of Arthur J. Gallagher & Co. by 650.0% during the 2nd quarter. Rakuten Securities Inc. now owns 105 shares of the financial services provider’s stock worth $34,000 after acquiring an additional 91 shares during the last quarter. 85.53% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Arthur J. Gallagher & Co. news, CAO Richard C. Cary sold 3,000 shares of the business’s stock in a transaction on Tuesday, June 2nd. The shares were sold at an average price of $206.00, for a total value of $618,000.00. Following the sale, the chief accounting officer owned 47,819 shares in the company, valued at $9,850,714. The trade was a 5.90% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.40% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the company. Mizuho upped their price objective on Arthur J. Gallagher & Co. from $287.00 to $300.00 and gave the stock an “outperform” rating in a research note on Friday, July 31st. Royal Bank Of Canada boosted their price target on Arthur J. Gallagher & Co. from $300.00 to $310.00 and gave the company an “outperform” rating in a report on Friday, July 31st. Keefe, Bruyette & Woods upped their price target on Arthur J. Gallagher & Co. from $261.00 to $271.00 and gave the stock a “market perform” rating in a research report on Friday, July 31st. Piper Sandler lifted their price objective on Arthur J. Gallagher & Co. from $276.00 to $287.00 and gave the company an “overweight” rating in a research report on Friday, July 31st. Finally, Citigroup boosted their price objective on Arthur J. Gallagher & Co. from $250.00 to $285.00 and gave the company a “buy” rating in a research note on Tuesday. Thirteen research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat, Arthur J. Gallagher & Co. presently has a consensus rating of “Moderate Buy” and an average target price of $287.65.

Arthur J. Gallagher & Co. Stock Performance

NYSE:AJG opened at $247.59 on Friday. The stock has a 50-day moving average price of $236.28 and a 200 day moving average price of $224.75. The stock has a market capitalization of $63.46 billion, a P/E ratio of 41.06, a P/E/G ratio of 1.28 and a beta of 0.50. Arthur J. Gallagher & Co. has a 12-month low of $190.75 and a 12-month high of $313.55. The company has a current ratio of 1.05, a quick ratio of 1.06 and a debt-to-equity ratio of 0.50.

Arthur J. Gallagher & Co. (NYSE:AJG) last posted its quarterly earnings results on Thursday, July 30th. The financial services provider reported $2.84 earnings per share for the quarter, topping the consensus estimate of $2.81 by $0.03. Arthur J. Gallagher & Co. had a return on equity of 13.28% and a net margin of 9.96%.The business had revenue of $3.95 billion during the quarter, compared to the consensus estimate of $4.01 billion. During the same period in the prior year, the company posted $2.33 EPS. The firm’s revenue for the quarter was up 24.3% compared to the same quarter last year. Equities research analysts forecast that Arthur J. Gallagher & Co. will post 13.27 EPS for the current fiscal year.

Arthur J. Gallagher & Co. Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 18th. Shareholders of record on Tuesday, September 8th will be issued a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date is Tuesday, September 8th. Arthur J. Gallagher & Co.’s payout ratio is currently 46.43%.

Arthur J. Gallagher & Co. Company Profile

Arthur J. Gallagher & Co is a global insurance brokerage and risk management firm headquartered in Rolling Meadows, Illinois. Founded in 1927 by Arthur J. Gallagher, the company has grown from a regional broker into an international professional services organization that arranges insurance, provides consulting and designs risk-transfer solutions for commercial, industrial, public sector and individual clients.

The company’s core activities include property and casualty insurance brokerage, employee benefits consulting and administration, and a range of risk management services.