Asset Management One Co. Ltd. lessened its position in shares of Arthur J. Gallagher & Co. (NYSE:AJG – Free Report) by 5.4% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 89,224 shares of the financial services provider’s stock after selling 5,055 shares during the quarter. Asset Management One Co. Ltd.’s holdings in Arthur J. Gallagher & Co. were worth $19,591,000 as of its most recent SEC filing.
Several other institutional investors have also added to or reduced their stakes in AJG. U.S. Capital Wealth Advisors LLC grew its holdings in Arthur J. Gallagher & Co. by 7.5% during the 1st quarter. U.S. Capital Wealth Advisors LLC now owns 1,287 shares of the financial services provider’s stock valued at $225,000 after buying an additional 90 shares in the last quarter. Canada Pension Plan Investment Board boosted its holdings in shares of Arthur J. Gallagher & Co. by 49.0% in the 1st quarter. Canada Pension Plan Investment Board now owns 5,300 shares of the financial services provider’s stock worth $925,000 after purchasing an additional 1,744 shares during the period. Prudential PLC purchased a new position in shares of Arthur J. Gallagher & Co. in the 1st quarter worth approximately $838,000. Sequoia Financial Advisors LLC boosted its holdings in shares of Arthur J. Gallagher & Co. by 37.7% in the 1st quarter. Sequoia Financial Advisors LLC now owns 2,532 shares of the financial services provider’s stock worth $442,000 after purchasing an additional 693 shares during the period. Finally, Candriam Luxembourg S.C.A. boosted its holdings in shares of Arthur J. Gallagher & Co. by 25.0% in the 1st quarter. Candriam Luxembourg S.C.A. now owns 11,184 shares of the financial services provider’s stock worth $1,953,000 after purchasing an additional 2,235 shares during the period. Hedge funds and other institutional investors own 81.15% of the company’s stock.
Arthur J. Gallagher & Co. Trading Up 1.2 %
Shares of NYSE:AJG opened at $236.59 on Tuesday. Arthur J. Gallagher & Co. has a 12-month low of $169.01 and a 12-month high of $237.63. The business’s fifty day simple moving average is $228.87 and its 200-day simple moving average is $216.92. The company has a market capitalization of $51.05 billion, a PE ratio of 46.12, a P/E/G ratio of 2.10 and a beta of 0.69. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.58.
Arthur J. Gallagher & Co. (NYSE:AJG – Get Free Report) last announced its earnings results on Thursday, July 27th. The financial services provider reported $1.90 earnings per share for the quarter, topping the consensus estimate of $1.86 by $0.04. Arthur J. Gallagher & Co. had a return on equity of 18.65% and a net margin of 12.11%. The firm had revenue of $2.44 billion for the quarter, compared to the consensus estimate of $2.36 billion. During the same period in the previous year, the business earned $1.70 EPS. The firm’s revenue for the quarter was up 19.5% on a year-over-year basis. As a group, equities research analysts predict that Arthur J. Gallagher & Co. will post 8.7 earnings per share for the current fiscal year.
Arthur J. Gallagher & Co. Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Friday, September 15th. Investors of record on Friday, September 1st were paid a dividend of $0.55 per share. The ex-dividend date was Thursday, August 31st. This represents a $2.20 annualized dividend and a yield of 0.93%. Arthur J. Gallagher & Co.’s dividend payout ratio (DPR) is 42.88%.
Wall Street Analysts Forecast Growth
A number of brokerages have recently commented on AJG. Jefferies Financial Group lifted their target price on Arthur J. Gallagher & Co. from $262.00 to $266.00 in a report on Friday, October 6th. Raymond James raised their price target on Arthur J. Gallagher & Co. from $255.00 to $265.00 and gave the stock a “strong-buy” rating in a research note on Monday, September 18th. Royal Bank of Canada raised their price target on Arthur J. Gallagher & Co. from $240.00 to $255.00 and gave the stock an “outperform” rating in a research note on Thursday, September 14th. Argus raised their price target on Arthur J. Gallagher & Co. from $232.00 to $264.00 and gave the stock a “buy” rating in a research note on Wednesday, August 30th. Finally, StockNews.com began coverage on Arthur J. Gallagher & Co. in a research note on Thursday, October 5th. They set a “hold” rating for the company. Four equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $241.07.
Insider Buying and Selling
In related news, CFO Douglas K. Howell sold 30,000 shares of the business’s stock in a transaction on Thursday, August 24th. The stock was sold at an average price of $225.99, for a total transaction of $6,779,700.00. Following the transaction, the chief financial officer now directly owns 164,371 shares in the company, valued at approximately $37,146,202.29. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In other Arthur J. Gallagher & Co. news, CFO Douglas K. Howell sold 4,588 shares of the business’s stock in a transaction dated Monday, August 28th. The stock was sold at an average price of $228.92, for a total transaction of $1,050,284.96. Following the sale, the chief financial officer now owns 127,942 shares in the company, valued at approximately $29,288,482.64. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Douglas K. Howell sold 30,000 shares of the business’s stock in a transaction dated Thursday, August 24th. The shares were sold at an average price of $225.99, for a total value of $6,779,700.00. Following the sale, the chief financial officer now owns 164,371 shares in the company, valued at approximately $37,146,202.29. The disclosure for this sale can be found here. Insiders have sold a total of 75,688 shares of company stock worth $17,388,097 in the last ninety days. 1.60% of the stock is owned by insiders.
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 businesses and organizations 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.
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