Transamerica Financial Advisors Inc. Has $5.54 Million Stock Position in Arthur J. Gallagher & Co. (NYSE:AJG)

Transamerica Financial Advisors Inc. lifted its stake in shares of Arthur J. Gallagher & Co. (NYSE:AJG) by 34.8% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 19,701 shares of the financial services provider’s stock after purchasing an additional 5,090 shares during the quarter. Transamerica Financial Advisors Inc.’s holdings in Arthur J. Gallagher & Co. were worth $5,544,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of AJG. DekaBank Deutsche Girozentrale raised its position in Arthur J. Gallagher & Co. by 15.7% in the third quarter. DekaBank Deutsche Girozentrale now owns 109,639 shares of the financial services provider’s stock valued at $30,450,000 after purchasing an additional 14,860 shares during the last quarter. MQS Management LLC acquired a new stake in Arthur J. Gallagher & Co. during the 3rd quarter worth approximately $749,000. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its position in Arthur J. Gallagher & Co. by 29.9% in the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 161,028 shares of the financial services provider’s stock valued at $41,756,000 after acquiring an additional 37,070 shares during the period. Swedbank AB bought a new position in shares of Arthur J. Gallagher & Co. during the first quarter valued at $3,297,000. Finally, Marsico Capital Management LLC lifted its holdings in shares of Arthur J. Gallagher & Co. by 316.9% during the second quarter. Marsico Capital Management LLC now owns 11,447 shares of the financial services provider’s stock worth $2,968,000 after purchasing an additional 8,701 shares during the period. Institutional investors and hedge funds own 85.53% of the company’s stock.

Arthur J. Gallagher & Co. Stock Up 0.5 %

NYSE AJG traded up $1.39 during mid-day trading on Tuesday, hitting $307.78. The company’s stock had a trading volume of 333,188 shares, compared to its average volume of 846,969. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 0.64. The company’s 50 day simple moving average is $288.69 and its 200 day simple moving average is $277.60. Arthur J. Gallagher & Co. has a twelve month low of $218.63 and a twelve month high of $310.26. The firm has a market capitalization of $67.53 billion, a price-to-earnings ratio of 58.37, a PEG ratio of 2.59 and a beta of 0.72.

Arthur J. Gallagher & Co. (NYSE:AJG) last posted its earnings results on Thursday, October 24th. The financial services provider reported $2.26 EPS for the quarter, hitting the consensus estimate of $2.26. Arthur J. Gallagher & Co. had a net margin of 10.40% and a return on equity of 19.12%. The company had revenue of $2.77 billion during the quarter, compared to the consensus estimate of $2.78 billion. During the same period in the previous year, the firm posted $2.00 earnings per share. The firm’s revenue for the quarter was up 12.8% on a year-over-year basis. Analysts anticipate that Arthur J. Gallagher & Co. will post 10.12 earnings per share for the current year.

Arthur J. Gallagher & Co. Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Friday, December 6th will be given a dividend of $0.60 per share. The ex-dividend date is Friday, December 6th. This represents a $2.40 annualized dividend and a dividend yield of 0.78%. Arthur J. Gallagher & Co.’s payout ratio is 45.71%.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on AJG shares. Piper Sandler increased their price objective on Arthur J. Gallagher & Co. from $254.00 to $293.00 and gave the company a “neutral” rating in a report on Friday, September 20th. Royal Bank of Canada lifted their price objective on Arthur J. Gallagher & Co. from $310.00 to $320.00 and gave the stock an “outperform” rating in a research note on Friday, September 20th. Bank of America raised their price target on shares of Arthur J. Gallagher & Co. from $271.00 to $293.00 and gave the stock an “underperform” rating in a report on Thursday, October 10th. Truist Financial upped their price objective on shares of Arthur J. Gallagher & Co. from $265.00 to $275.00 and gave the company a “hold” rating in a research note on Friday, September 20th. Finally, Jefferies Financial Group lifted their target price on shares of Arthur J. Gallagher & Co. from $269.00 to $274.00 and gave the stock a “hold” rating in a research note on Wednesday, October 9th. Three analysts have rated the stock with a sell rating, eight have issued a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, Arthur J. Gallagher & Co. has a consensus rating of “Hold” and a consensus price target of $291.64.

Insider Activity at Arthur J. Gallagher & Co.

In other news, President Michael Robert Pesch sold 7,100 shares of the company’s stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $296.20, for a total value 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. This represents a 17.59 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, VP Christopher E. Mead sold 2,800 shares of Arthur J. Gallagher & Co. stock in a transaction on Monday, October 28th. The stock was sold at an average price of $287.00, for a total value of $803,600.00. Following the sale, the vice president now owns 14,674 shares in the company, valued at $4,211,438. This trade represents a 16.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 23,900 shares of company stock valued at $6,892,280. 1.60% of the stock is owned by insiders.

Arthur J. Gallagher & Co. 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.