Perennial Investment Advisors LLC Has $250,000 Stock Holdings in Arthur J. Gallagher & Co. (NYSE:AJG)

Perennial Investment Advisors LLC raised its stake in shares of Arthur J. Gallagher & Co. (NYSE:AJG) by 13.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 963 shares of the financial services provider’s stock after purchasing an additional 113 shares during the quarter. Perennial Investment Advisors LLC’s holdings in Arthur J. Gallagher & Co. were worth $250,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of AJG. Menard Financial Group LLC boosted its stake in Arthur J. Gallagher & Co. by 1.7% in the 2nd quarter. Menard Financial Group LLC now owns 3,743 shares of the financial services provider’s stock valued at $971,000 after buying an additional 61 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Arthur J. Gallagher & Co. by 10.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 673,456 shares of the financial services provider’s stock valued at $174,640,000 after purchasing an additional 64,864 shares in the last quarter. Fairfield Financial Advisors LTD bought a new stake in shares of Arthur J. Gallagher & Co. in the 2nd quarter worth about $1,452,000. Prosperity Consulting Group LLC increased its position in shares of Arthur J. Gallagher & Co. by 6.3% during the 2nd quarter. Prosperity Consulting Group LLC now owns 7,393 shares of the financial services provider’s stock worth $1,917,000 after purchasing an additional 440 shares in the last quarter. Finally, Envestnet Asset Management Inc. boosted its position in Arthur J. Gallagher & Co. by 3.7% in the second quarter. Envestnet Asset Management Inc. now owns 1,410,349 shares of the financial services provider’s stock valued at $365,718,000 after buying an additional 50,650 shares in the last quarter. 85.53% of the stock is currently owned by institutional investors.

Arthur J. Gallagher & Co. Trading Down 1.2 %

NYSE AJG opened at $295.94 on Wednesday. Arthur J. Gallagher & Co. has a 12 month low of $218.63 and a 12 month high of $301.04. The stock has a 50-day simple moving average of $284.68 and a 200 day simple moving average of $262.15. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.67. The company has a market capitalization of $64.66 billion, a PE ratio of 59.91, a P/E/G ratio of 2.47 and a beta of 0.72.

Arthur J. Gallagher & Co. (NYSE:AJG) last announced its quarterly earnings results on Thursday, July 25th. The financial services provider reported $2.26 EPS for the quarter, beating analysts’ consensus estimates of $2.24 by $0.02. The company had revenue of $2.73 billion during the quarter, compared to analysts’ expectations of $2.77 billion. Arthur J. Gallagher & Co. had a return on equity of 19.25% and a net margin of 10.41%. Arthur J. Gallagher & Co.’s revenue was up 14.3% on a year-over-year basis. During the same period in the prior year, the business posted $1.90 EPS. Research analysts forecast that Arthur J. Gallagher & Co. will post 10.16 EPS for the current year.

Arthur J. Gallagher & Co. Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, September 20th. Shareholders of record on Friday, September 6th will be issued a $0.60 dividend. The ex-dividend date is Friday, September 6th. This represents a $2.40 annualized dividend and a yield of 0.81%. Arthur J. Gallagher & Co.’s dividend payout ratio (DPR) is presently 48.58%.

Insider Transactions at Arthur J. Gallagher & Co.

In related news, General Counsel Walter D. Bay sold 6,335 shares of the company’s stock in a transaction on Tuesday, July 30th. The shares were sold at an average price of $284.06, for a total value of $1,799,520.10. Following the completion of the sale, the general counsel now owns 30,053 shares in the company, valued at approximately $8,536,855.18. The transaction was disclosed in a filing with the SEC, which is available through this link. In related news, President Thomas Joseph Gallagher sold 15,000 shares of the business’s stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $282.96, for a total value of $4,244,400.00. Following the completion of the transaction, the president now directly owns 329,099 shares in the company, valued at approximately $93,121,853.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, General Counsel Walter D. Bay sold 6,335 shares of the stock in a transaction that occurred on Tuesday, July 30th. The stock was sold at an average price of $284.06, for a total value of $1,799,520.10. Following the sale, the general counsel now directly owns 30,053 shares of the company’s stock, valued at $8,536,855.18. The disclosure for this sale can be found here. Insiders have sold a total of 37,145 shares of company stock valued at $10,629,900 over the last three months. 1.60% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on AJG shares. The Goldman Sachs Group raised their price objective on shares of Arthur J. Gallagher & Co. from $272.00 to $286.00 in a report on Friday, July 26th. UBS Group raised their price target on Arthur J. Gallagher & Co. from $260.00 to $292.00 and gave the company a “neutral” rating in a report on Wednesday, July 31st. Bank Of America (Bofa) boosted their price objective on Arthur J. Gallagher & Co. from $255.00 to $265.00 and gave the stock an “underperform” rating in a research note on Friday, July 26th. Bank of America raised their target price on Arthur J. Gallagher & Co. from $233.00 to $255.00 and gave the company an “underperform” rating in a research note on Wednesday, May 22nd. Finally, Truist Financial upped their price target on shares of Arthur J. Gallagher & Co. from $255.00 to $265.00 and gave the stock a “hold” rating in a research report on Friday, July 26th. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Arthur J. Gallagher & Co. currently has an average rating of “Hold” and a consensus price target of $276.82.

About Arthur J. Gallagher & Co.

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.