Retirement Systems of Alabama lifted its holdings in Arthur J Gallagher & Co (NYSE:AJG) by 244.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 289,913 shares of the financial services provider’s stock after buying an additional 205,700 shares during the period. Retirement Systems of Alabama owned about 0.16% of Arthur J Gallagher & Co worth $21,367,000 as of its most recent SEC filing.
Several other institutional investors have also modified their holdings of AJG. Cutler Group LP acquired a new stake in shares of Arthur J Gallagher & Co in the third quarter worth $101,000. Resources Management Corp CT ADV acquired a new stake in shares of Arthur J Gallagher & Co in the third quarter worth $111,000. Point72 Hong Kong Ltd acquired a new stake in shares of Arthur J Gallagher & Co in the second quarter worth $127,000. Migdal Insurance & Financial Holdings Ltd. boosted its position in shares of Arthur J Gallagher & Co by 84.6% in the third quarter. Migdal Insurance & Financial Holdings Ltd. now owns 1,953 shares of the financial services provider’s stock worth $145,000 after buying an additional 895 shares during the period. Finally, Cerebellum GP LLC acquired a new stake in shares of Arthur J Gallagher & Co in the third quarter worth $185,000. 81.16% of the stock is owned by institutional investors and hedge funds.
In related news, VP Thomas Joseph Gallagher bought 4,000 shares of the business’s stock in a transaction on Wednesday, December 19th. The shares were bought at an average cost of $73.20 per share, for a total transaction of $292,800.00. Following the completion of the acquisition, the vice president now directly owns 176,958 shares in the company, valued at $12,953,325.60. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. 1.60% of the stock is owned by company insiders.
Arthur J Gallagher & Co (NYSE:AJG) last announced its quarterly earnings data on Thursday, October 25th. The financial services provider reported $0.78 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.77 by $0.01. Arthur J Gallagher & Co had a return on equity of 15.50% and a net margin of 9.04%. The business had revenue of $1.78 billion during the quarter, compared to analyst estimates of $1.69 billion. Analysts anticipate that Arthur J Gallagher & Co will post 3.43 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, December 21st. Shareholders of record on Friday, December 7th were issued a dividend of $0.41 per share. The ex-dividend date was Thursday, December 6th. This represents a $1.64 annualized dividend and a yield of 2.23%. Arthur J Gallagher & Co’s dividend payout ratio (DPR) is currently 53.59%.
Several analysts have recently commented on AJG shares. Credit Suisse Group set a $84.00 target price on Arthur J Gallagher & Co and gave the stock a “buy” rating in a research report on Tuesday, September 25th. ValuEngine raised Arthur J Gallagher & Co from a “hold” rating to a “buy” rating in a research report on Tuesday, October 2nd. Citigroup set a $78.00 price objective on Arthur J Gallagher & Co and gave the stock a “hold” rating in a report on Friday, October 12th. Wells Fargo & Co reiterated a “buy” rating and set a $85.00 price objective on shares of Arthur J Gallagher & Co in a report on Thursday, October 25th. Finally, Barclays increased their price objective on Arthur J Gallagher & Co from $82.00 to $87.00 and gave the stock an “overweight” rating in a report on Monday, November 12th. One analyst has rated the stock with a sell rating, five have issued a hold rating and seven have given a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $79.10.
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Arthur J Gallagher & Co Profile
Arthur J. Gallagher & Co, together with its subsidiaries, provides insurance brokerage, consulting, and third party claims settlement and administration services to entities in the United States and internationally. Its Brokerage segment consists of retail and wholesale insurance brokerage operations.
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