Allspring Global Investments Holdings LLC Buys 82 Shares of Arthur J. Gallagher & Co. (NYSE:AJG)

Allspring Global Investments Holdings LLC grew its stake in Arthur J. Gallagher & Co. (NYSE:AJG) by 0.7% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 11,280 shares of the financial services provider’s stock after purchasing an additional 82 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Arthur J. Gallagher & Co. were worth $3,879,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the stock. Vanguard Group Inc. lifted its stake in shares of Arthur J. Gallagher & Co. by 14.9% in the 4th quarter. Vanguard Group Inc. now owns 29,672,134 shares of the financial services provider’s stock valued at $8,422,435,000 after purchasing an additional 3,851,661 shares during the last quarter. Capital International Investors lifted its stake in shares of Arthur J. Gallagher & Co. by 3.1% in the 4th quarter. Capital International Investors now owns 10,067,647 shares of the financial services provider’s stock valued at $2,857,737,000 after purchasing an additional 305,876 shares during the last quarter. Capital World Investors lifted its stake in shares of Arthur J. Gallagher & Co. by 30.4% in the 4th quarter. Capital World Investors now owns 8,199,413 shares of the financial services provider’s stock valued at $2,327,403,000 after purchasing an additional 1,910,471 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of Arthur J. Gallagher & Co. by 14.3% in the 4th quarter. Geode Capital Management LLC now owns 6,277,993 shares of the financial services provider’s stock valued at $1,779,248,000 after purchasing an additional 787,265 shares during the last quarter. Finally, Norges Bank bought a new stake in shares of Arthur J. Gallagher & Co. in the 4th quarter valued at approximately $1,421,591,000. 85.53% of the stock is owned by institutional investors.

Insider Activity

In related news, Director David S. Johnson sold 1,000 shares of the business’s stock in a transaction on Friday, May 16th. The stock was sold at an average price of $342.04, for a total transaction of $342,040.00. Following the transaction, the director directly owned 45,323 shares in the company, valued at $15,502,278.92. The trade was a 2.16% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Susan E. Pietrucha sold 13,500 shares of the business’s stock in a transaction on Monday, May 19th. The stock was sold at an average price of $344.13, for a total value of $4,645,755.00. Following the transaction, the insider owned 11,941 shares in the company, valued at approximately $4,109,256.33. This trade represents a 53.06% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 25,000 shares of company stock worth $8,528,080. 1.30% of the stock is currently owned by company insiders.

Arthur J. Gallagher & Co. Trading Up 0.2%

AJG opened at $316.50 on Monday. The stock’s fifty day moving average is $328.60 and its two-hundred day moving average is $319.97. The company has a market capitalization of $81.06 billion, a P/E ratio of 45.80 and a beta of 0.71. Arthur J. Gallagher & Co. has a 52 week low of $263.22 and a 52 week high of $351.23. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 0.56.

Arthur J. Gallagher & Co. (NYSE:AJG) last announced its quarterly earnings results on Thursday, May 1st. The financial services provider reported $3.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.57 by $0.10. Arthur J. Gallagher & Co. had a return on equity of 14.83% and a net margin of 14.39%. The business had revenue of $3.69 billion for the quarter, compared to the consensus estimate of $3.85 billion. During the same period last year, the business posted $3.45 EPS. The business’s revenue was up 14.5% compared to the same quarter last year. Analysts forecast that Arthur J. Gallagher & Co. will post 11.54 earnings per share for the current year.

Arthur J. Gallagher & Co. Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, June 20th. Stockholders of record on Friday, June 6th were issued a $0.65 dividend. The ex-dividend date was Friday, June 6th. This represents a $2.60 dividend on an annualized basis and a dividend yield of 0.82%. Arthur J. Gallagher & Co.’s dividend payout ratio is presently 37.63%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the company. Redburn Atlantic assumed coverage on Arthur J. Gallagher & Co. in a research note on Tuesday, March 25th. They set a “neutral” rating and a $352.00 price target for the company. Keefe, Bruyette & Woods raised their price target on Arthur J. Gallagher & Co. from $315.00 to $326.00 and gave the stock a “market perform” rating in a research note on Thursday, June 5th. Wells Fargo & Company decreased their price target on Arthur J. Gallagher & Co. from $372.00 to $371.00 and set an “overweight” rating for the company in a research note on Monday, June 9th. Barclays raised their price target on Arthur J. Gallagher & Co. from $308.00 to $346.00 and gave the stock an “equal weight” rating in a research note on Friday, April 11th. Finally, Jefferies Financial Group decreased their price target on Arthur J. Gallagher & Co. from $266.00 to $265.00 and set a “hold” rating for the company in a research note on Friday, April 11th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $319.29.

Arthur J. Gallagher & Co. Profile

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