iA Global Asset Management Inc. Invests $8.41 Million in Arthur J. Gallagher & Co. (NYSE:AJG)

iA Global Asset Management Inc. purchased a new position in shares of Arthur J. Gallagher & Co. (NYSE:AJG) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 33,650 shares of the financial services provider’s stock, valued at approximately $8,414,000.

Several other hedge funds also recently made changes to their positions in the business. Creekmur Asset Management LLC bought a new position in shares of Arthur J. Gallagher & Co. in the first quarter valued at $27,000. Richardson Financial Services Inc. acquired a new stake in Arthur J. Gallagher & Co. during the 4th quarter valued at $27,000. Transcendent Capital Group LLC acquired a new stake in Arthur J. Gallagher & Co. during the 4th quarter valued at $31,000. Ruedi Wealth Management Inc. acquired a new stake in Arthur J. Gallagher & Co. during the 4th quarter valued at $33,000. Finally, Security National Bank acquired a new stake in Arthur J. Gallagher & Co. during the 4th quarter valued at $33,000. 85.53% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on AJG shares. Keefe, Bruyette & Woods raised their price target on Arthur J. Gallagher & Co. from $241.00 to $252.00 and gave the company an “underperform” rating in a report on Friday, July 26th. Argus upped their price target on shares of Arthur J. Gallagher & Co. from $264.00 to $270.00 and gave the company a “buy” rating in a research note on Tuesday, May 14th. Bank of America boosted their price objective on shares of Arthur J. Gallagher & Co. from $233.00 to $255.00 and gave the company an “underperform” rating in a report on Wednesday, May 22nd. The Goldman Sachs Group raised their target price on shares of Arthur J. Gallagher & Co. from $272.00 to $286.00 in a report on Friday, July 26th. Finally, UBS Group increased their price target on Arthur J. Gallagher & Co. from $260.00 to $292.00 and gave the stock a “neutral” rating in a research report on Wednesday. Three analysts have rated the stock with a sell rating, seven have issued a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $274.44.

Insider Activity

In other news, VP Scott R. Hudson sold 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, June 18th. The stock was sold at an average price of $263.45, for a total value of $2,634,500.00. Following the completion of the transaction, the vice president now owns 93,730 shares of the company’s stock, valued at $24,693,168.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Arthur J. Gallagher & Co. news, Director David S. Johnson sold 850 shares of the firm’s stock in a transaction that occurred on Wednesday, May 22nd. The shares were sold at an average price of $257.84, for a total transaction of $219,164.00. Following the completion of the transaction, the director now owns 45,108 shares in the company, valued at approximately $11,630,646.72. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP Scott R. Hudson sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, June 18th. The stock was sold at an average price of $263.45, for a total transaction of $2,634,500.00. Following the transaction, the vice president now owns 93,730 shares of the company’s stock, valued at approximately $24,693,168.50. The disclosure for this sale can be found here. Insiders sold 59,500 shares of company stock valued at $15,428,569 over the last quarter. 1.60% of the stock is owned by company insiders.

Arthur J. Gallagher & Co. Price Performance

NYSE AJG traded up $3.63 during trading on Thursday, hitting $287.12. 537,274 shares of the company’s stock were exchanged, compared to its average volume of 847,558. The company has a current ratio of 1.04, a quick ratio of 1.05 and a debt-to-equity ratio of 0.67. The company has a market cap of $62.91 billion, a PE ratio of 57.38, a P/E/G ratio of 2.39 and a beta of 0.72. Arthur J. Gallagher & Co. has a fifty-two week low of $215.37 and a fifty-two week high of $287.60. The stock’s 50 day moving average price is $262.85 and its two-hundred day moving average price is $249.66.

Arthur J. Gallagher & Co. (NYSE:AJG) last released its quarterly earnings data on Thursday, July 25th. The financial services provider reported $2.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.24 by $0.02. Arthur J. Gallagher & Co. had a return on equity of 19.25% and a net margin of 10.41%. The company had revenue of $2.73 billion during the quarter, compared to the consensus estimate of $2.77 billion. During the same quarter in the prior year, the firm posted $1.90 earnings per share. The firm’s revenue was up 14.3% compared to the same quarter last year. Research analysts expect that Arthur J. Gallagher & Co. will post 10.15 EPS for the current year.

Arthur J. Gallagher & Co. Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 20th. Stockholders of record on Friday, September 6th will be paid a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 0.84%. The ex-dividend date is Friday, September 6th. Arthur J. Gallagher & Co.’s dividend payout ratio is currently 48.58%.

Arthur J. Gallagher & Co. Profile

Arthur J. Gallagher & Co, together with its subsidiaries, provides insurance and reinsurance brokerage, consulting, and third-party property/casualty claims settlement and administration services to entities and individuals worldwide. It operates in Brokerage and Risk Management segments. The Brokerage segment offers retail and wholesale insurance and reinsurance brokerage services; assists retail brokers and other non-affiliated brokers in the placement of specialized and hard-to-place insurance; and acts as a brokerage wholesaler, managing general agent, and managing general underwriter for distributing specialized insurance coverages to underwriting enterprises.