Sigma Investment Counselors Inc. Has $6.24 Million Stake in Arthur J. Gallagher & Co. (NYSE:AJG)

Sigma Investment Counselors Inc. increased its stake in shares of Arthur J. Gallagher & Co. (NYSE:AJGGet Rating) by 2.0% during the second quarter, HoldingsChannel reports. The fund owned 38,247 shares of the financial services provider’s stock after buying an additional 758 shares during the period. Sigma Investment Counselors Inc.’s holdings in Arthur J. Gallagher & Co. were worth $6,236,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Cresset Asset Management LLC boosted its holdings in shares of Arthur J. Gallagher & Co. by 3.3% during the 1st quarter. Cresset Asset Management LLC now owns 2,077 shares of the financial services provider’s stock worth $363,000 after buying an additional 66 shares during the period. Levy Wealth Management Group LLC lifted its position in shares of Arthur J. Gallagher & Co. by 0.3% during the 1st quarter. Levy Wealth Management Group LLC now owns 24,066 shares of the financial services provider’s stock valued at $4,202,000 after acquiring an additional 73 shares during the period. Benjamin F. Edwards & Company Inc. lifted its position in shares of Arthur J. Gallagher & Co. by 14.8% during the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 590 shares of the financial services provider’s stock valued at $103,000 after acquiring an additional 76 shares during the period. CX Institutional lifted its position in shares of Arthur J. Gallagher & Co. by 6.3% during the 1st quarter. CX Institutional now owns 1,372 shares of the financial services provider’s stock worth $240,000 after buying an additional 81 shares during the last quarter. Finally, Raymond James Trust N.A. lifted its position in shares of Arthur J. Gallagher & Co. by 1.0% during the 1st quarter. Raymond James Trust N.A. now owns 8,171 shares of the financial services provider’s stock worth $1,426,000 after buying an additional 81 shares during the last quarter. 81.22% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have issued reports on AJG. Raymond James upped their target price on Arthur J. Gallagher & Co. from $195.00 to $205.00 and gave the stock a “strong-buy” rating in a report on Monday, August 1st. Piper Sandler lowered Arthur J. Gallagher & Co. from an “overweight” rating to a “neutral” rating and set a $195.00 target price on the stock. in a report on Wednesday. The Goldman Sachs Group started coverage on Arthur J. Gallagher & Co. in a research report on Tuesday, July 12th. They set a “buy” rating and a $198.00 price target for the company. Jefferies Financial Group decreased their price target on Arthur J. Gallagher & Co. from $211.00 to $200.00 and set a “buy” rating for the company in a research report on Tuesday, July 12th. Finally, Argus began coverage on Arthur J. Gallagher & Co. in a research report on Friday, August 26th. They set a “buy” rating and a $215.00 price target for the company. Four equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $201.55.

Arthur J. Gallagher & Co. Price Performance

AJG stock traded down $1.45 during mid-day trading on Friday, hitting $171.08. 18,682 shares of the stock were exchanged, compared to its average volume of 1,004,971. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.05 and a quick ratio of 1.05. The business has a fifty day moving average price of $180.51 and a 200 day moving average price of $170.71. Arthur J. Gallagher & Co. has a 12 month low of $147.32 and a 12 month high of $191.99. The stock has a market capitalization of $35.98 billion, a price-to-earnings ratio of 34.85, a PEG ratio of 2.25 and a beta of 0.67.

Arthur J. Gallagher & Co. (NYSE:AJGGet Rating) last issued its quarterly earnings results on Thursday, July 28th. The financial services provider reported $1.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.68 by $0.02. Arthur J. Gallagher & Co. had a return on equity of 16.62% and a net margin of 12.31%. The firm had revenue of $2.04 billion during the quarter, compared to analyst estimates of $2.04 billion. During the same quarter in the previous year, the company posted $1.17 earnings per share. The company’s revenue was up 5.7% compared to the same quarter last year. On average, sell-side analysts anticipate that Arthur J. Gallagher & Co. will post 7.76 EPS for the current year.

Arthur J. Gallagher & Co. Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 16th. Stockholders of record on Friday, September 2nd were paid a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a dividend yield of 1.19%. The ex-dividend date of this dividend was Thursday, September 1st. Arthur J. Gallagher & Co.’s dividend payout ratio (DPR) is presently 41.21%.

Insider Activity

In other news, Director David S. Johnson sold 1,000 shares of the business’s stock in a transaction dated Monday, August 22nd. The stock was sold at an average price of $190.14, for a total value of $190,140.00. Following the completion of the sale, the director now owns 47,508 shares of the company’s stock, valued at approximately $9,033,171.12. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, Director David S. Johnson sold 1,000 shares of the business’s stock in a transaction that occurred on Monday, August 22nd. The stock was sold at an average price of $190.14, for a total value of $190,140.00. Following the sale, the director now directly owns 47,508 shares of the company’s stock, valued at approximately $9,033,171.12. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, VP Joel D. Cavaness sold 16,200 shares of the business’s stock in a transaction that occurred on Thursday, August 11th. The stock was sold at an average price of $187.07, for a total value of $3,030,534.00. Following the completion of the sale, the vice president now directly owns 121,087 shares in the company, valued at $22,651,745.09. The disclosure for this sale can be found here. In the last quarter, insiders sold 31,683 shares of company stock valued at $5,901,941. Insiders own 1.40% of the company’s stock.

About Arthur J. Gallagher & Co.

(Get Rating)

Arthur J. Gallagher & Co, together with its subsidiaries, provides insurance brokerage, consulting, third-party claims settlement, and administration services in the United States, Australia, Bermuda, Canada, the Caribbean, New Zealand, India, and the United Kingdom. It operates through Brokerage and Risk Management segments.

Further Reading

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Institutional Ownership by Quarter for Arthur J. Gallagher & Co. (NYSE:AJG)

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