Wellington Management Group LLP Has $1.01 Billion Stock Holdings in Arthur J. Gallagher & Co. $AJG

Wellington Management Group LLP grew its holdings in shares of Arthur J. Gallagher & Co. (NYSE:AJG) by 13.7% in the third quarter, Holdings Channel reports. The institutional investor owned 3,270,807 shares of the financial services provider’s stock after acquiring an additional 395,304 shares during the period. Wellington Management Group LLP’s holdings in Arthur J. Gallagher & Co. were worth $1,013,100,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Physician Wealth Advisors Inc. raised its position in Arthur J. Gallagher & Co. by 870.0% in the 3rd quarter. Physician Wealth Advisors Inc. now owns 97 shares of the financial services provider’s stock valued at $30,000 after buying an additional 87 shares during the last quarter. Rakuten Securities Inc. boosted its holdings in Arthur J. Gallagher & Co. by 650.0% during the 2nd quarter. Rakuten Securities Inc. now owns 105 shares of the financial services provider’s stock worth $34,000 after acquiring an additional 91 shares during the last quarter. Financial Life Planners bought a new stake in shares of Arthur J. Gallagher & Co. in the 3rd quarter worth $39,000. Central Pacific Bank Trust Division raised its holdings in shares of Arthur J. Gallagher & Co. by 40.6% in the third quarter. Central Pacific Bank Trust Division now owns 135 shares of the financial services provider’s stock valued at $42,000 after purchasing an additional 39 shares during the last quarter. Finally, Westside Investment Management Inc. raised its holdings in shares of Arthur J. Gallagher & Co. by 100.0% in the third quarter. Westside Investment Management Inc. now owns 136 shares of the financial services provider’s stock valued at $42,000 after purchasing an additional 68 shares during the last quarter. Hedge funds and other institutional investors own 85.53% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. The Goldman Sachs Group restated a “buy” rating and set a $292.00 price target on shares of Arthur J. Gallagher & Co. in a report on Wednesday, January 7th. Weiss Ratings reissued a “hold (c+)” rating on shares of Arthur J. Gallagher & Co. in a research report on Monday, December 29th. Cantor Fitzgerald restated a “neutral” rating on shares of Arthur J. Gallagher & Co. in a research note on Friday, January 30th. Evercore decreased their price target on Arthur J. Gallagher & Co. from $353.00 to $334.00 and set an “outperform” rating for the company in a research report on Wednesday, December 17th. Finally, Piper Sandler dropped their price target on Arthur J. Gallagher & Co. from $249.00 to $226.00 and set a “neutral” rating on the stock in a report on Monday, February 23rd. Eight investment analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $282.65.

Arthur J. Gallagher & Co. Stock Performance

NYSE:AJG opened at $207.86 on Friday. Arthur J. Gallagher & Co. has a 1 year low of $195.00 and a 1 year high of $351.23. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.06 and a quick ratio of 1.06. The business has a fifty day simple moving average of $234.93 and a two-hundred day simple moving average of $260.50. The company has a market capitalization of $53.44 billion, a P/E ratio of 33.80, a P/E/G ratio of 0.99 and a beta of 0.67.

Arthur J. Gallagher & Co. (NYSE:AJG) last posted its quarterly earnings results on Thursday, January 29th. The financial services provider reported $2.38 earnings per share for the quarter, topping the consensus estimate of $2.35 by $0.03. Arthur J. Gallagher & Co. had a return on equity of 12.13% and a net margin of 11.84%.The company had revenue of $3.57 billion during the quarter, compared to the consensus estimate of $3.61 billion. During the same quarter in the prior year, the company earned $1.12 EPS. The firm’s quarterly revenue was up 33.9% compared to the same quarter last year. On average, analysts expect that Arthur J. Gallagher & Co. will post 11.54 earnings per share for the current year.

Arthur J. Gallagher & Co. Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 20th. Stockholders of record on Friday, March 6th will be paid a $0.70 dividend. The ex-dividend date is Friday, March 6th. This is a positive change from Arthur J. Gallagher & Co.’s previous quarterly dividend of $0.65. This represents a $2.80 annualized dividend and a dividend yield of 1.3%. Arthur J. Gallagher & Co.’s dividend payout ratio is 45.53%.

Insider Buying and Selling at Arthur J. Gallagher & Co.

In other news, CFO Douglas K. Howell sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, December 22nd. The shares were sold at an average price of $258.05, for a total value of $1,290,250.00. Following the sale, the chief financial officer owned 95,777 shares of the company’s stock, valued at $24,715,254.85. The trade was a 4.96% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Scott R. Hudson sold 3,800 shares of the firm’s stock in a transaction that occurred on Friday, March 6th. The stock was sold at an average price of $227.57, for a total transaction of $864,766.00. Following the completion of the transaction, the vice president directly owned 85,920 shares of the company’s stock, valued at approximately $19,552,814.40. This trade represents a 4.24% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 32,650 shares of company stock worth $8,137,686. 1.60% of the stock is currently owned by company insiders.

About Arthur J. Gallagher & Co.

Arthur J. Gallagher & Co is a global insurance brokerage and risk management firm headquartered in Rolling Meadows, Illinois. Founded in 1927 by Arthur J. Gallagher, the company has grown from a regional broker into an international professional services organization that arranges insurance, provides consulting and designs risk-transfer solutions for commercial, industrial, public sector and individual clients.

The company’s core activities include property and casualty insurance brokerage, employee benefits consulting and administration, and a range of risk management services.