Cullinan Associates Inc. Takes $4.02 Million Position in Arthur J. Gallagher & Co. $AJG

Cullinan Associates Inc. bought a new position in Arthur J. Gallagher & Co. (NYSE:AJG) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 17,500 shares of the financial services provider’s stock, valued at approximately $4,017,000.

A number of other institutional investors have also recently made changes to their positions in the company. Kemnay Advisory Services Inc. bought a new position in shares of Arthur J. Gallagher & Co. during the 4th quarter worth $26,000. Axiom Investment Management LLC bought a new stake in Arthur J. Gallagher & Co. in the 1st quarter valued at about $28,000. Cassaday & Co Wealth Management LLC purchased a new stake in Arthur J. Gallagher & Co. during the first quarter valued at about $29,000. MV Capital Management Inc. bought a new stake in shares of Arthur J. Gallagher & Co. in the fourth quarter valued at approximately $34,000. Finally, Rakuten Securities Inc. boosted its holdings in Arthur J. Gallagher & Co. by 650.0% in the 2nd quarter. Rakuten Securities Inc. now owns 105 shares of the financial services provider’s stock worth $34,000 after buying an additional 91 shares during the period. Hedge funds and other institutional investors own 85.53% of the company’s stock.

Wall Street Analysts Forecast Growth

AJG has been the topic of several recent research reports. Morgan Stanley increased their target price on Arthur J. Gallagher & Co. from $270.00 to $290.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 19th. 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, August 4th. Truist Financial raised their target price on Arthur J. Gallagher & Co. from $225.00 to $265.00 and gave the stock a “hold” rating in a research note on Friday, July 31st. Piper Sandler upped their price target 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, Jefferies Financial Group raised shares of Arthur J. Gallagher & Co. from a “hold” rating to a “buy” rating and increased their price target for the stock from $235.00 to $265.00 in a report on Thursday, June 11th. Fourteen equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Arthur J. Gallagher & Co. presently has an average rating of “Moderate Buy” and an average target price of $290.28.

Insider Activity

In other news, CAO Richard C. Cary sold 3,000 shares of Arthur J. Gallagher & Co. stock in a transaction on Tuesday, June 2nd. The shares were sold at an average price of $206.00, for a total transaction of $618,000.00. Following the completion of the sale, the chief accounting officer directly owned 47,819 shares of the company’s stock, valued at approximately $9,850,714. The trade was a 5.90% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Christopher E. Mead sold 3,500 shares of the stock in a transaction on Wednesday, August 19th. The shares were sold at an average price of $257.02, for a total value of $899,570.00. Following the completion of the transaction, the vice president directly owned 22,223 shares in the company, valued at approximately $5,711,755.46. This represents a 13.61% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 18,500 shares of company stock worth $4,758,530. 1.40% of the stock is currently owned by corporate insiders.

Arthur J. Gallagher & Co. Stock Performance

Shares of AJG opened at $267.43 on Friday. 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 1.05 and a debt-to-equity ratio of 0.50. The company has a market cap of $68.54 billion, a PE ratio of 44.35, a price-to-earnings-growth ratio of 1.64 and a beta of 0.50. The stock has a 50-day moving average price of $249.63 and a 200-day moving average price of $225.78.

Arthur J. Gallagher & Co. (NYSE:AJG) last posted its quarterly earnings data 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 net margin of 9.96% and a return on equity of 13.28%. The company had revenue of $3.95 billion for the quarter, compared to analysts’ expectations of $4.01 billion. During the same period in the prior year, the business earned $2.33 earnings per share. Arthur J. Gallagher & Co.’s revenue for the quarter was up 24.3% compared to the same quarter last year. As a group, equities analysts forecast that Arthur J. Gallagher & Co. will post 13.28 earnings per share 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. Stockholders of record on Tuesday, September 8th will be issued a $0.70 dividend. The ex-dividend date of this dividend is Tuesday, September 8th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 1.0%. Arthur J. Gallagher & Co.’s dividend payout ratio is presently 46.43%.

Arthur J. Gallagher & Co. 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.