Kentucky Retirement Systems Has $4.12 Million Holdings in Arthur J. Gallagher & Co. (NYSE:AJG)

Kentucky Retirement Systems lessened its stake in Arthur J. Gallagher & Co. (NYSE:AJG) by 4.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 16,464 shares of the financial services provider’s stock after selling 810 shares during the quarter. Kentucky Retirement Systems’ holdings in Arthur J. Gallagher & Co. were worth $4,117,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Richardson Financial Services Inc. acquired a new stake in shares of Arthur J. Gallagher & Co. in the 4th quarter valued at approximately $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. Security National Bank acquired a new stake in Arthur J. Gallagher & Co. during the 4th quarter valued at $33,000. Finally, DSM Capital Partners LLC acquired a new stake in Arthur J. Gallagher & Co. during the 4th quarter valued at $37,000. Institutional investors and hedge funds own 85.53% of the company’s stock.

Insider Activity at Arthur J. Gallagher & Co.

In related news, CFO Douglas K. Howell sold 16,000 shares of the firm’s stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $248.41, for a total value of $3,974,560.00. Following the sale, the chief financial officer now directly owns 80,952 shares of the company’s stock, valued at $20,109,286.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, CAO Richard C. Cary sold 3,395 shares of the firm’s stock in a transaction dated Thursday, May 16th. The stock was sold at an average price of $254.00, for a total value of $862,330.00. Following the sale, the chief accounting officer now directly owns 38,314 shares of the company’s stock, valued at $9,731,756. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Douglas K. Howell sold 16,000 shares of Arthur J. Gallagher & Co. stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $248.41, for a total value of $3,974,560.00. Following the sale, the chief financial officer now directly owns 80,952 shares in the company, valued at $20,109,286.32. The disclosure for this sale can be found here. Insiders have sold 53,165 shares of company stock valued at $13,629,049 over the last ninety days. 1.60% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on AJG. Bank Of America (Bofa) raised their price target on Arthur J. Gallagher & Co. from $255.00 to $265.00 and gave the company an “underperform” rating in a report on Friday. Piper Sandler raised their price target on Arthur J. Gallagher & Co. from $252.00 to $254.00 and gave the company a “neutral” rating in a report on Friday. The Goldman Sachs Group increased their price objective on Arthur J. Gallagher & Co. from $272.00 to $286.00 in a research report on Friday. Wells Fargo & Company increased their price objective on Arthur J. Gallagher & Co. from $282.00 to $301.00 and gave the stock an “overweight” rating in a research report on Friday. Finally, BMO Capital Markets increased their price objective on Arthur J. Gallagher & Co. from $275.00 to $295.00 and gave the stock an “outperform” rating in a research report on Friday. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, Arthur J. Gallagher & Co. presently has a consensus rating of “Hold” and an average price target of $273.27.

Arthur J. Gallagher & Co. Price Performance

Shares of NYSE AJG traded up $9.61 during mid-day trading on Friday, reaching $283.58. The company had a trading volume of 1,161,116 shares, compared to its average volume of 713,993. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.05 and a current ratio of 1.05. Arthur J. Gallagher & Co. has a one year low of $214.13 and a one year high of $283.90. The firm has a market cap of $61.96 billion, a price-to-earnings ratio of 57.40, a PEG ratio of 2.53 and a beta of 0.72. The business’s 50-day simple moving average is $261.33 and its 200 day simple moving average is $248.60.

Arthur J. Gallagher & Co. (NYSE:AJG) last issued its quarterly earnings results on Thursday, July 25th. The financial services provider reported $2.26 EPS for the quarter, topping analysts’ consensus estimates of $2.24 by $0.02. Arthur J. Gallagher & Co. had a return on equity of 19.56% and a net margin of 10.41%. The company had revenue of $2.73 billion for the quarter, compared to analysts’ expectations of $2.77 billion. During the same quarter last year, the business earned $1.90 earnings per share. Arthur J. Gallagher & Co.’s revenue was up 14.3% on a year-over-year basis. On average, research analysts predict that Arthur J. Gallagher & Co. will post 10.13 earnings per share for the current fiscal year.

Arthur J. Gallagher & Co. Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 20th. Investors of record on Friday, September 6th will be paid a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 0.85%. The ex-dividend date of this dividend is Friday, September 6th. Arthur J. Gallagher & Co.’s dividend payout ratio (DPR) is presently 48.58%.

Arthur J. Gallagher & Co. Company 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.