Cerity Partners LLC Buys 668 Shares of Arthur J. Gallagher & Co. (NYSE:AJG)

Cerity Partners LLC grew its stake in shares of Arthur J. Gallagher & Co. (NYSE:AJGGet Rating) by 45.6% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,132 shares of the financial services provider’s stock after buying an additional 668 shares during the period. Cerity Partners LLC’s holdings in Arthur J. Gallagher & Co. were worth $348,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also modified their holdings of AJG. JPMorgan Chase & Co. lifted its holdings in shares of Arthur J. Gallagher & Co. by 44.1% during the 1st quarter. JPMorgan Chase & Co. now owns 8,346,332 shares of the financial services provider’s stock valued at $1,457,269,000 after purchasing an additional 2,555,055 shares in the last quarter. Echo Street Capital Management LLC lifted its holdings in shares of Arthur J. Gallagher & Co. by 334.4% during the 1st quarter. Echo Street Capital Management LLC now owns 750,459 shares of the financial services provider’s stock valued at $131,030,000 after purchasing an additional 577,717 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of Arthur J. Gallagher & Co. by 2.2% during the 1st quarter. Vanguard Group Inc. now owns 24,846,924 shares of the financial services provider’s stock valued at $4,338,274,000 after purchasing an additional 532,344 shares in the last quarter. Close Asset Management Ltd bought a new position in shares of Arthur J. Gallagher & Co. during the 2nd quarter valued at about $42,060,000. Finally, The Manufacturers Life Insurance Company lifted its holdings in shares of Arthur J. Gallagher & Co. by 25.4% during the 1st quarter. The Manufacturers Life Insurance Company now owns 1,200,352 shares of the financial services provider’s stock valued at $209,581,000 after purchasing an additional 243,401 shares in the last quarter. Institutional investors own 81.22% of the company’s stock.

Analyst Ratings Changes

AJG has been the topic of several recent analyst reports. Wells Fargo & Company lifted their price objective on Arthur J. Gallagher & Co. from $212.00 to $215.00 and gave the company an “overweight” rating in a report on Friday, October 28th. UBS Group lifted their target price on Arthur J. Gallagher & Co. to $197.00 in a research report on Friday, November 4th. Piper Sandler lowered Arthur J. Gallagher & Co. from an “overweight” rating to a “neutral” rating and set a $195.00 target price on the stock. in a research report on Wednesday, September 21st. Truist Financial lifted their target price on Arthur J. Gallagher & Co. from $210.00 to $220.00 and gave the company a “buy” rating in a research report on Friday, October 28th. Finally, Morgan Stanley lifted their target price on Arthur J. Gallagher & Co. from $162.00 to $215.00 and gave the company an “equal weight” rating in a research report on Friday, August 19th. Four investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Arthur J. Gallagher & Co. has an average rating of “Moderate Buy” and an average price target of $206.36.

Insider Buying and Selling

In related news, Director William L. Bax sold 350 shares of the business’s stock in a transaction that occurred on Monday, October 31st. The stock was sold at an average price of $189.30, for a total transaction of $66,255.00. Following the transaction, the director now directly owns 45,405 shares of the company’s stock, valued at approximately $8,595,166.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.40% of the stock is owned by insiders.

Arthur J. Gallagher & Co. Stock Up 2.1 %

NYSE:AJG opened at $194.33 on Monday. The firm has a market capitalization of $40.97 billion, a price-to-earnings ratio of 38.25, a price-to-earnings-growth ratio of 2.46 and a beta of 0.68. Arthur J. Gallagher & Co. has a twelve month low of $147.32 and a twelve month high of $194.77. The stock’s 50 day moving average price is $180.63 and its two-hundred day moving average price is $173.32. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.64.

Arthur J. Gallagher & Co. (NYSE:AJGGet Rating) last posted its earnings results on Thursday, October 27th. The financial services provider reported $1.72 earnings per share for the quarter, topping analysts’ consensus estimates of $1.67 by $0.05. The business had revenue of $2.01 billion for the quarter, compared to analyst estimates of $2.04 billion. Arthur J. Gallagher & Co. had a return on equity of 17.56% and a net margin of 12.86%. The firm’s revenue was down 4.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.33 EPS. Equities research analysts expect that Arthur J. Gallagher & Co. will post 7.77 earnings per share for the current fiscal year.

Arthur J. Gallagher & Co. Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 16th. Investors of record on Friday, December 2nd will be issued a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a dividend yield of 1.05%. The ex-dividend date of this dividend is Thursday, December 1st. Arthur J. Gallagher & Co.’s payout ratio is presently 40.16%.

Arthur J. Gallagher & Co. Company 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.

See Also

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

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