Arthur J. Gallagher & Co. (NYSE:AJG) is Guinness Asset Management LTD’s 6th Largest Position

Guinness Asset Management LTD lifted its position in shares of Arthur J. Gallagher & Co. (NYSE:AJG) by 4.6% during the third quarter, Holdings Channel.com reports. The firm owned 799,231 shares of the financial services provider’s stock after acquiring an additional 34,972 shares during the period. Arthur J. Gallagher & Co. comprises 4.3% of Guinness Asset Management LTD’s investment portfolio, making the stock its 6th biggest holding. Guinness Asset Management LTD’s holdings in Arthur J. Gallagher & Co. were worth $224,806,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. Norden Group LLC acquired a new stake in Arthur J. Gallagher & Co. during the first quarter valued at $3,841,000. Brookstone Capital Management grew its position in shares of Arthur J. Gallagher & Co. by 70.4% during the 1st quarter. Brookstone Capital Management now owns 12,851 shares of the financial services provider’s stock valued at $3,213,000 after acquiring an additional 5,308 shares during the period. Sei Investments Co. increased its stake in shares of Arthur J. Gallagher & Co. by 11.7% in the 1st quarter. Sei Investments Co. now owns 194,568 shares of the financial services provider’s stock valued at $48,649,000 after purchasing an additional 20,302 shares in the last quarter. Nomura Holdings Inc. acquired a new position in Arthur J. Gallagher & Co. in the 4th quarter worth about $979,000. Finally, Swedbank AB acquired a new stake in Arthur J. Gallagher & Co. in the first quarter valued at approximately $3,297,000. 85.53% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Arthur J. Gallagher & Co. news, President Michael Robert Pesch sold 7,100 shares of the business’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $296.20, for a total transaction of $2,103,020.00. Following the sale, the president now directly owns 33,267 shares in the company, valued at $9,853,685.40. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, President Michael Robert Pesch sold 7,100 shares of the business’s stock in a transaction on Friday, September 13th. The stock was sold at an average price of $296.20, for a total transaction of $2,103,020.00. Following the completion of the transaction, the president now directly owns 33,267 shares of the company’s stock, valued at $9,853,685.40. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, General Counsel Walter D. Bay sold 6,335 shares of the stock in a transaction dated 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 directly owns 30,053 shares in the company, valued at $8,536,855.18. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 44,145 shares of company stock valued at $12,622,660. Corporate insiders own 1.60% of the company’s stock.

Wall Street Analysts Forecast Growth

AJG has been the subject of a number of research analyst reports. TD Cowen upped their price objective on shares of Arthur J. Gallagher & Co. from $273.00 to $288.00 and gave the stock a “hold” rating in a research report on Tuesday, August 13th. Wells Fargo & Company lifted their price objective on Arthur J. Gallagher & Co. from $309.00 to $315.00 and gave the stock an “overweight” rating in a report on Thursday. Truist Financial increased their target price on Arthur J. Gallagher & Co. from $265.00 to $275.00 and gave the company a “hold” rating in a report on Friday, September 20th. Piper Sandler lifted their price target on Arthur J. Gallagher & Co. from $254.00 to $293.00 and gave the stock a “neutral” rating in a research note on Friday, September 20th. Finally, Royal Bank of Canada increased their price objective on Arthur J. Gallagher & Co. from $310.00 to $320.00 and gave the company an “outperform” rating in a research note on Friday, September 20th. Three equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $287.00.

Arthur J. Gallagher & Co. Trading Up 0.8 %

AJG traded up $2.21 during trading hours on Friday, reaching $287.91. The company’s stock had a trading volume of 749,335 shares, compared to its average volume of 847,199. Arthur J. Gallagher & Co. has a fifty-two week low of $218.63 and a fifty-two week high of $301.04. The business’s 50-day moving average is $288.04 and its 200-day moving average is $266.23. The stock has a market cap of $62.91 billion, a PE ratio of 58.29, a P/E/G ratio of 2.53 and a beta of 0.72. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.04 and a quick ratio of 1.04.

Arthur J. Gallagher & Co. (NYSE:AJG) last announced its quarterly earnings results on Thursday, July 25th. The financial services provider reported $2.26 earnings per share for the quarter, beating analysts’ consensus estimates of $2.24 by $0.02. Arthur J. Gallagher & Co. had a net margin of 10.41% and a return on equity of 19.25%. The business had revenue of $2.73 billion during the quarter, compared to analysts’ expectations of $2.77 billion. During the same period last year, the business earned $1.90 earnings per share. The business’s revenue for the quarter was up 14.3% on a year-over-year basis. As a group, equities research analysts predict that Arthur J. Gallagher & Co. will post 10.11 earnings per share for the current fiscal year.

Arthur J. Gallagher & Co. Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 20th. Investors of record on Friday, September 6th were issued a $0.60 dividend. The ex-dividend date was Friday, September 6th. This represents a $2.40 annualized dividend and a dividend yield of 0.83%. Arthur J. Gallagher & Co.’s dividend payout ratio is presently 48.58%.

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.