Arthur J. Gallagher & Co. (NYSE:AJG) Hits New 1-Year High – Here’s What Happened

Arthur J. Gallagher & Co. (NYSE:AJG)’s stock price hit a new 52-week high on Monday . The company traded as high as $346.95 and last traded at $343.93, with a volume of 85547 shares. The stock had previously closed at $340.76.

Wall Street Analysts Forecast Growth

AJG has been the topic of a number of research reports. Keefe, Bruyette & Woods boosted their price objective on Arthur J. Gallagher & Co. from $308.00 to $314.00 and gave the company a “market perform” rating in a research note on Friday, March 21st. Wells Fargo & Company upped their target price on shares of Arthur J. Gallagher & Co. from $341.00 to $370.00 and gave the stock an “overweight” rating in a research report on Friday, March 21st. Truist Financial boosted their price objective on shares of Arthur J. Gallagher & Co. from $275.00 to $290.00 and gave the stock a “hold” rating in a report on Friday, January 31st. TD Cowen raised Arthur J. Gallagher & Co. from a “hold” rating to a “buy” rating and lifted their price target for the stock from $295.00 to $377.00 in a research note on Friday, January 10th. Finally, Piper Sandler upgraded shares of Arthur J. Gallagher & Co. from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $285.00 to $315.00 in a report on Wednesday, January 8th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, Arthur J. Gallagher & Co. currently has an average rating of “Hold” and a consensus target price of $313.20.

Arthur J. Gallagher & Co. Stock Performance

The business’s 50 day simple moving average is $321.73 and its two-hundred day simple moving average is $301.01. The company has a current ratio of 1.51, a quick ratio of 1.51 and a debt-to-equity ratio of 0.63. The firm has a market capitalization of $88.16 billion, a P/E ratio of 52.93 and a beta of 0.75.

Arthur J. Gallagher & Co. (NYSE:AJG) last released its quarterly earnings results on Thursday, January 30th. The financial services provider reported $2.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.03 by $0.10. Arthur J. Gallagher & Co. had a return on equity of 16.47% and a net margin of 12.70%. Sell-side analysts anticipate that Arthur J. Gallagher & Co. will post 11.54 EPS for the current fiscal year.

Arthur J. Gallagher & Co. Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 21st. Shareholders of record on Friday, March 7th were given a $0.65 dividend. This is a boost from Arthur J. Gallagher & Co.’s previous quarterly dividend of $0.60. The ex-dividend date of this dividend was Friday, March 7th. This represents a $2.60 dividend on an annualized basis and a yield of 0.75%. Arthur J. Gallagher & Co.’s dividend payout ratio is presently 39.88%.

Insider Buying and Selling

In related news, VP Scott R. Hudson sold 7,510 shares of the company’s stock in a transaction on Friday, March 21st. The shares were sold at an average price of $333.59, for a total value of $2,505,260.90. Following the completion of the transaction, the vice president now owns 90,020 shares of the company’s stock, valued at approximately $30,029,771.80. This represents a 7.70 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Sherry S. Barrat sold 2,500 shares of the business’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $304.33, for a total value of $760,825.00. Following the completion of the transaction, the director now owns 16,533 shares in the company, valued at $5,031,487.89. The trade was a 13.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 23,235 shares of company stock valued at $7,478,224. 1.60% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Arthur J. Gallagher & Co.

Large investors have recently made changes to their positions in the company. Townsquare Capital LLC increased its holdings in Arthur J. Gallagher & Co. by 35.9% during the 3rd quarter. Townsquare Capital LLC now owns 8,281 shares of the financial services provider’s stock worth $2,330,000 after purchasing an additional 2,186 shares during the period. CreativeOne Wealth LLC increased its position in Arthur J. Gallagher & Co. by 11.2% during the 3rd quarter. CreativeOne Wealth LLC now owns 1,969 shares of the financial services provider’s stock valued at $554,000 after buying an additional 199 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Arthur J. Gallagher & Co. by 10.8% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 43,224 shares of the financial services provider’s stock valued at $12,162,000 after purchasing an additional 4,212 shares during the last quarter. Rockefeller Capital Management L.P. raised its holdings in shares of Arthur J. Gallagher & Co. by 18.9% in the third quarter. Rockefeller Capital Management L.P. now owns 17,750 shares of the financial services provider’s stock worth $4,990,000 after buying an additional 2,819 shares during the last quarter. Finally, Encompass More Asset Management grew its stake in Arthur J. Gallagher & Co. by 4.4% during the 3rd quarter. Encompass More Asset Management now owns 969 shares of the financial services provider’s stock valued at $273,000 after purchasing an additional 41 shares during the last quarter. 85.53% of the stock is owned by institutional investors.

Arthur J. Gallagher & Co. Company 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.