Calamos Advisors LLC increased its stake in Arthur J Gallagher & Co (NYSE:AJG) by 17.6% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 113,750 shares of the financial services provider’s stock after purchasing an additional 17,031 shares during the period. Calamos Advisors LLC owned approximately 0.06% of Arthur J Gallagher & Co worth $8,383,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Tributary Capital Management LLC purchased a new position in shares of Arthur J Gallagher & Co during the 4th quarter valued at $77,000. Cutler Group LP purchased a new stake in Arthur J Gallagher & Co during the 3rd quarter worth about $101,000. Resources Management Corp CT ADV purchased a new stake in Arthur J Gallagher & Co during the 3rd quarter worth about $111,000. Migdal Insurance & Financial Holdings Ltd. raised its holdings in shares of Arthur J Gallagher & Co by 84.6% in the 3rd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 1,953 shares of the financial services provider’s stock valued at $145,000 after acquiring an additional 895 shares in the last quarter. Finally, Cerebellum GP LLC purchased a new stake in shares of Arthur J Gallagher & Co in the 3rd quarter valued at about $185,000. Institutional investors own 81.03% of the company’s stock.
Shares of AJG opened at $78.83 on Friday. Arthur J Gallagher & Co has a one year low of $63.54 and a one year high of $79.03. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.06 and a quick ratio of 1.09. The firm has a market capitalization of $14.32 billion, a P/E ratio of 22.85, a PEG ratio of 2.00 and a beta of 0.87.
Arthur J Gallagher & Co (NYSE:AJG) last released its quarterly earnings results on Thursday, January 31st. The financial services provider reported $0.53 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.51 by $0.02. Arthur J Gallagher & Co had a return on equity of 14.03% and a net margin of 9.14%. The business had revenue of $1.66 billion during the quarter, compared to analyst estimates of $1.61 billion. Equities research analysts predict that Arthur J Gallagher & Co will post 3.85 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 15th. Stockholders of record on Friday, March 1st will be given a $0.43 dividend. This represents a $1.72 annualized dividend and a dividend yield of 2.18%. This is an increase from Arthur J Gallagher & Co’s previous quarterly dividend of $0.41. The ex-dividend date is Thursday, February 28th. Arthur J Gallagher & Co’s payout ratio is presently 47.54%.
Several analysts have weighed in on AJG shares. Citigroup set a $78.00 price target on Arthur J Gallagher & Co and gave the company a “hold” rating in a report on Friday, October 12th. Wells Fargo & Co reiterated a “buy” rating and set a $85.00 price objective on shares of Arthur J Gallagher & Co in a research report on Thursday, October 25th. Barclays increased their price objective on Arthur J Gallagher & Co from $82.00 to $87.00 and gave the company an “overweight” rating in a research report on Monday, November 12th. Morgan Stanley raised their price target on Arthur J Gallagher & Co from $71.00 to $77.00 and gave the stock a “hold” rating in a research report on Wednesday, November 14th. Finally, Zacks Investment Research upgraded Arthur J Gallagher & Co from a “hold” rating to a “buy” rating and set a $83.00 price target on the stock in a research report on Tuesday, December 11th. Six investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $79.56.
In other Arthur J Gallagher & Co news, VP Thomas Joseph Gallagher bought 4,000 shares of the business’s stock in a transaction dated Wednesday, December 19th. The shares were purchased at an average price of $73.20 per share, with a total value of $292,800.00. Following the completion of the purchase, the vice president now owns 176,958 shares in the company, valued at approximately $12,953,325.60. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Frank E. Jr. English sold 1,100 shares of the company’s stock in a transaction that occurred on Tuesday, February 5th. The shares were sold at an average price of $77.66, for a total value of $85,426.00. Following the transaction, the director now directly owns 7,300 shares in the company, valued at approximately $566,918. The disclosure for this sale can be found here. 1.60% of the stock is owned by insiders.
About Arthur J Gallagher & Co
Arthur J. Gallagher & Co, together with its subsidiaries, provides insurance brokerage, consulting, and third party claims settlement and administration services to entities in the United States and internationally. Its Brokerage segment consists of retail and wholesale insurance brokerage operations.
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