Continental Investors Services Inc. Makes New Investment in Arthur J. Gallagher & Co. (NYSE:AJG)

Continental Investors Services Inc. acquired a new stake in Arthur J. Gallagher & Co. (NYSE:AJG – Get Rating) during the third quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 2,560 shares of the financial services provider’s stock, valued at approximately $454,000.

A number of other hedge funds have also bought and sold shares of the company. U.S. Capital Wealth Advisors LLC boosted its holdings in shares of Arthur J. Gallagher & Co. by 7.5% during the 1st quarter. U.S. Capital Wealth Advisors LLC now owns 1,287 shares of the financial services provider’s stock worth $225,000 after buying an additional 90 shares in the last quarter. Canada Pension Plan Investment Board lifted its position in shares of Arthur J. Gallagher & Co. by 49.0% during the 1st quarter. Canada Pension Plan Investment Board now owns 5,300 shares of the financial services provider’s stock valued at $925,000 after acquiring an additional 1,744 shares during the period. Prudential PLC acquired a new stake in Arthur J. Gallagher & Co. in the first quarter worth $838,000. Sequoia Financial Advisors LLC raised its holdings in shares of Arthur J. Gallagher & Co. by 37.7% during the first quarter. Sequoia Financial Advisors LLC now owns 2,532 shares of the financial services provider’s stock valued at $442,000 after purchasing an additional 693 shares during the period. Finally, Candriam Luxembourg S.C.A. boosted its position in shares of Arthur J. Gallagher & Co. by 25.0% during the 1st quarter. Candriam Luxembourg S.C.A. now owns 11,184 shares of the financial services provider’s stock worth $1,953,000 after purchasing an additional 2,235 shares in the last quarter. Institutional investors own 82.07% of the company’s stock.

Insider Buying and Selling

In related news, Director Kay W. Mccurdy sold 182 shares of the firm’s stock in a transaction that occurred on Wednesday, February 8th. The shares were sold at an average price of $196.59, for a total value of $35,779.38. Following the completion of the transaction, the director now directly owns 31,091 shares of the company’s stock, valued at approximately $6,112,179.69. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, Director Kay W. Mccurdy sold 182 shares of the business’s stock in a transaction on Wednesday, February 8th. The stock was sold at an average price of $196.59, for a total transaction of $35,779.38. Following the sale, the director now directly owns 31,091 shares in the company, valued at approximately $6,112,179.69. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director David S. Johnson sold 1,000 shares of the firm’s stock in a transaction dated Wednesday, March 8th. The stock was sold at an average price of $189.62, for a total value of $189,620.00. Following the completion of the transaction, the director now owns 46,508 shares of the company’s stock, valued at approximately $8,818,846.96. The disclosure for this sale can be found here. In the last 90 days, insiders sold 24,933 shares of company stock valued at $4,747,098. 1.40% of the stock is owned by insiders.

Arthur J. Gallagher & Co. Price Performance

Shares of NYSE:AJG opened at $180.00 on Friday. The company has a market capitalization of $38.18 billion, a P/E ratio of 34.62, a price-to-earnings-growth ratio of 1.88 and a beta of 0.69. The company’s 50-day moving average is $190.67 and its 200 day moving average is $187.15. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.04 and a current ratio of 1.04. Arthur J. Gallagher & Co. has a fifty-two week low of $148.24 and a fifty-two week high of $202.37.

Arthur J. Gallagher & Co. (NYSE:AJG – Get Rating) last released its earnings results on Thursday, January 26th. The financial services provider reported $1.54 earnings per share for the quarter, beating analysts’ consensus estimates of $1.50 by $0.04. Arthur J. Gallagher & Co. had a net margin of 13.08% and a return on equity of 18.64%. The firm had revenue of $2 billion for the quarter, compared to analysts’ expectations of $1.96 billion. During the same period in the previous year, the company earned $0.98 earnings per share. The company’s quarterly revenue was up 2.8% on a year-over-year basis. On average, equities research analysts forecast that Arthur J. Gallagher & Co. will post 8.74 earnings per share for the current year.

Arthur J. Gallagher & Co. Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 17th. Shareholders of record on Friday, March 3rd were issued a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a yield of 1.22%. This is a positive change from Arthur J. Gallagher & Co.’s previous quarterly dividend of $0.51. The ex-dividend date was Thursday, March 2nd. Arthur J. Gallagher & Co.’s dividend payout ratio is 42.31%.

Wall Street Analyst Weigh In

AJG has been the topic of a number of research reports. Citigroup upped their price target on Arthur J. Gallagher & Co. from $225.00 to $228.00 and gave the stock a “buy” rating in a research note on Wednesday, February 1st. Raymond James increased their target price on Arthur J. Gallagher & Co. from $205.00 to $215.00 and gave the stock a “strong-buy” rating in a report on Thursday, December 29th. Royal Bank of Canada restated an “outperform” rating and set a $225.00 price target on shares of Arthur J. Gallagher & Co. in a research note on Friday. BMO Capital Markets began coverage on shares of Arthur J. Gallagher & Co. in a research note on Thursday, January 19th. They issued an “outperform” rating and a $211.00 price objective on the stock. Finally, Piper Sandler boosted their target price on shares of Arthur J. Gallagher & Co. from $195.00 to $215.00 and gave the stock a “neutral” rating in a research report on Friday, January 27th. Five research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $213.71.

About Arthur J. Gallagher & Co.

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Arthur J. Gallagher & Co engages in the provision of insurance brokerage, consulting, and third-party claims settlement and administration services. It operates through the following business segments: Brokerage, Risk Management, and Corporate. The Brokerage segment consists of retail and wholesale insurance brokerage operations.