Healthcare of Ontario Pension Plan Trust Fund Has $8 Million Stock Holdings in Arthur J. Gallagher & Co. (NYSE:AJG)

Healthcare of Ontario Pension Plan Trust Fund lessened its holdings in Arthur J. Gallagher & Co. (NYSE:AJG) by 28.9% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 32,000 shares of the financial services provider’s stock after selling 13,000 shares during the period. Healthcare of Ontario Pension Plan Trust Fund’s holdings in Arthur J. Gallagher & Co. were worth $8,001,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of AJG. Richardson Financial Services Inc. acquired a new stake in shares of Arthur J. Gallagher & Co. in the fourth quarter worth $27,000. Transcendent Capital Group LLC acquired a new stake in Arthur J. Gallagher & Co. during the fourth quarter valued at $31,000. Ruedi Wealth Management Inc. acquired a new stake in Arthur J. Gallagher & Co. during the fourth quarter valued at $33,000. Security National Bank acquired a new stake in Arthur J. Gallagher & Co. during the fourth quarter valued at $33,000. Finally, DSM Capital Partners LLC acquired a new stake in Arthur J. Gallagher & Co. during the fourth quarter valued at $37,000. Institutional investors and hedge funds own 85.53% of the company’s stock.

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

In other Arthur J. Gallagher & Co. news, CFO Douglas K. Howell sold 16,000 shares of Arthur J. Gallagher & Co. stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $248.41, for a total transaction 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 document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, VP Scott R. Hudson sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, June 18th. The stock was sold at an average price of $263.45, for a total value of $2,634,500.00. Following the transaction, the vice president now directly owns 93,730 shares of the company’s stock, valued at approximately $24,693,168.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Douglas K. Howell sold 16,000 shares of the company’s stock in a transaction on 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 transaction, the chief financial officer now directly owns 80,952 shares in the company, valued at approximately $20,109,286.32. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 53,165 shares of company stock valued at $13,629,049. 1.60% of the stock is currently owned by corporate insiders.

Arthur J. Gallagher & Co. Stock Performance

AJG traded up $1.10 on Thursday, hitting $275.42. 682,581 shares of the stock traded hands, compared to its average volume of 845,246. Arthur J. Gallagher & Co. has a 52 week low of $214.13 and a 52 week high of $277.70. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.70. The firm has a market capitalization of $60.18 billion, a PE ratio of 55.53, a P/E/G ratio of 2.44 and a beta of 0.72. The business has a fifty day moving average price of $260.45 and a two-hundred day moving average price of $247.89.

Arthur J. Gallagher & Co. (NYSE:AJG) last issued its quarterly earnings results on Thursday, April 25th. The financial services provider reported $3.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.41 by $0.08. Arthur J. Gallagher & Co. had a return on equity of 18.94% and a net margin of 10.27%. The firm had revenue of $3.22 billion for the quarter, compared to analyst estimates of $3.18 billion. During the same period in the previous year, the company posted $3.03 earnings per share. The company’s quarterly revenue was up 20.4% compared to the same quarter last year. On average, research analysts predict that Arthur J. Gallagher & Co. will post 10.1 EPS for the current fiscal year.

Arthur J. Gallagher & Co. Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, September 20th. Investors of record on Friday, September 6th will be paid a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 0.87%. Arthur J. Gallagher & Co.’s dividend payout ratio is 48.58%.

Analyst Ratings Changes

A number of research firms recently issued reports on AJG. Piper Sandler reduced their price objective on Arthur J. Gallagher & Co. from $253.00 to $252.00 and set a “neutral” rating for the company in a research report on Monday, April 29th. TD Cowen lifted their price objective on Arthur J. Gallagher & Co. from $249.00 to $273.00 and gave the company a “hold” rating in a research report on Tuesday, April 2nd. Royal Bank of Canada lifted their price objective on Arthur J. Gallagher & Co. from $282.00 to $290.00 and gave the company an “outperform” rating in a research report on Wednesday, June 26th. Keefe, Bruyette & Woods restated an “underperform” rating and set a $240.00 target price on shares of Arthur J. Gallagher & Co. in a report on Wednesday, June 26th. Finally, Truist Financial restated a “hold” rating and set a $255.00 target price (down from $280.00) on shares of Arthur J. Gallagher & Co. in a report on Wednesday, April 10th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $263.00.

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.