Glenmede Trust Co. NA Increases Stock Holdings in Arthur J. Gallagher & Co. $AJG

Glenmede Trust Co. NA boosted its position in shares of Arthur J. Gallagher & Co. (NYSE:AJG) by 166.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 25,700 shares of the financial services provider’s stock after acquiring an additional 16,044 shares during the period. Glenmede Trust Co. NA’s holdings in Arthur J. Gallagher & Co. were worth $5,566,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. grew its position in shares of Arthur J. Gallagher & Co. by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 31,390,446 shares of the financial services provider’s stock valued at $8,123,534,000 after purchasing an additional 217,136 shares in the last quarter. Capital World Investors raised its position in shares of Arthur J. Gallagher & Co. by 7.0% in the fourth quarter. Capital World Investors now owns 12,613,371 shares of the financial services provider’s stock worth $3,264,359,000 after buying an additional 830,252 shares in the last quarter. State Street Corp boosted its stake in Arthur J. Gallagher & Co. by 0.6% during the fourth quarter. State Street Corp now owns 10,953,598 shares of the financial services provider’s stock valued at $2,834,682,000 after buying an additional 62,518 shares during the period. Norges Bank purchased a new position in Arthur J. Gallagher & Co. during the fourth quarter worth about $1,925,062,000. Finally, T. Rowe Price Investment Management Inc. increased its stake in Arthur J. Gallagher & Co. by 123.5% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 5,887,538 shares of the financial services provider’s stock worth $1,523,636,000 after acquiring an additional 3,253,498 shares during the last quarter. Institutional investors own 85.53% of the company’s stock.

Arthur J. Gallagher & Co. Price Performance

Shares of Arthur J. Gallagher & Co. stock opened at $248.03 on Tuesday. The company has a current ratio of 1.05, a quick ratio of 1.06 and a debt-to-equity ratio of 0.50. The firm has a market capitalization of $63.72 billion, a PE ratio of 41.13, a price-to-earnings-growth ratio of 1.29 and a beta of 0.50. The business’s 50-day moving average price is $232.53 and its 200-day moving average price is $224.74. Arthur J. Gallagher & Co. has a 12 month low of $190.75 and a 12 month high of $313.55.

Arthur J. Gallagher & Co. (NYSE:AJG) last released its earnings results on Thursday, July 30th. The financial services provider reported $2.84 earnings per share for the quarter, topping analysts’ consensus estimates of $2.81 by $0.03. Arthur J. Gallagher & Co. had a return on equity of 13.28% and a net margin of 9.96%.The company had revenue of $3.95 billion during the quarter, compared to the consensus estimate of $4.01 billion. During the same quarter in the previous year, the company posted $2.33 EPS. Arthur J. Gallagher & Co.’s quarterly revenue was up 24.3% compared to the same quarter last year. Sell-side analysts forecast that Arthur J. Gallagher & Co. will post 13.22 EPS for the current fiscal year.

Arthur J. Gallagher & Co. Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 18th. Investors of record on Tuesday, September 8th will be issued a dividend of $0.70 per share. The ex-dividend date of this dividend is Tuesday, September 8th. This represents a $2.80 annualized dividend and a dividend yield of 1.1%. Arthur J. Gallagher & Co.’s dividend payout ratio (DPR) is currently 46.43%.

Insider Buying and Selling

In other Arthur J. Gallagher & Co. news, CAO Richard C. Cary sold 3,000 shares of the business’s stock in a transaction on Tuesday, June 2nd. The shares were sold at an average price of $206.00, for a total value of $618,000.00. Following the completion of the sale, the chief accounting officer directly owned 47,819 shares of the company’s stock, valued at $9,850,714. The trade was a 5.90% 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. 1.40% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on AJG shares. Royal Bank Of Canada lifted their price target on Arthur J. Gallagher & Co. from $300.00 to $310.00 and gave the company an “outperform” rating in a research report on Friday. Barclays raised their target price on shares of Arthur J. Gallagher & Co. from $275.00 to $292.00 and gave the company an “overweight” rating in a research note on Tuesday, July 7th. Piper Sandler lifted their target price on shares of Arthur J. Gallagher & Co. from $276.00 to $287.00 and gave the company an “overweight” rating in a research report on Friday. UBS Group increased their price target on shares of Arthur J. Gallagher & Co. from $291.00 to $299.00 and gave the stock a “buy” rating in a report on Monday. Finally, Cantor Fitzgerald raised their price objective on shares of Arthur J. Gallagher & Co. from $285.00 to $300.00 and gave the company a “neutral” rating in a research report on Thursday, July 9th. Thirteen analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, Arthur J. Gallagher & Co. presently has a consensus rating of “Moderate Buy” and an average target price of $285.59.

Arthur J. Gallagher & Co. Company Profile

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.