Vinva Investment Management Ltd Acquires 1,128 Shares of Arthur J. Gallagher & Co. (NYSE:AJG)

Vinva Investment Management Ltd grew its holdings in Arthur J. Gallagher & Co. (NYSE:AJG) by 13.1% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 9,710 shares of the financial services provider’s stock after acquiring an additional 1,128 shares during the quarter. Vinva Investment Management Ltd’s holdings in Arthur J. Gallagher & Co. were worth $2,713,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of the business. FMR LLC lifted its position in Arthur J. Gallagher & Co. by 4.9% in the third quarter. FMR LLC now owns 12,305,478 shares of the financial services provider’s stock worth $3,462,392,000 after purchasing an additional 580,134 shares during the period. Massachusetts Financial Services Co. MA lifted its position in Arthur J. Gallagher & Co. by 13.6% in the third quarter. Massachusetts Financial Services Co. MA now owns 3,196,992 shares of the financial services provider’s stock worth $899,538,000 after purchasing an additional 383,130 shares during the period. Legal & General Group Plc lifted its position in Arthur J. Gallagher & Co. by 2.7% in the second quarter. Legal & General Group Plc now owns 1,640,938 shares of the financial services provider’s stock worth $425,511,000 after purchasing an additional 42,841 shares during the period. Envestnet Asset Management Inc. lifted 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 worth $365,718,000 after purchasing an additional 50,650 shares during the period. Finally, The Manufacturers Life Insurance Company lifted its position in Arthur J. Gallagher & Co. by 219.6% in the second quarter. The Manufacturers Life Insurance Company now owns 1,043,769 shares of the financial services provider’s stock worth $270,660,000 after purchasing an additional 717,221 shares during the period. 85.53% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, VP Christopher E. Mead sold 2,800 shares of the company’s stock in a transaction on Monday, October 28th. The stock was sold at an average price of $287.00, for a total transaction of $803,600.00. Following the completion of the sale, the vice president now directly owns 14,674 shares in the company, valued at $4,211,438. This represents a 16.02 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Douglas K. Howell sold 7,000 shares of the company’s stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $284.68, for a total value of $1,992,760.00. Following the completion of the transaction, the chief financial officer now directly owns 75,963 shares of the company’s stock, valued at approximately $21,625,146.84. The trade was a 8.44 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 23,900 shares of company stock worth $6,892,280 in the last ninety days. 1.60% of the stock is owned by insiders.

Arthur J. Gallagher & Co. Stock Performance

NYSE:AJG opened at $315.16 on Friday. The stock has a fifty day moving average price of $290.17 and a 200-day moving average price of $278.55. The company has a market cap of $69.15 billion, a price-to-earnings ratio of 60.03, a PEG ratio of 2.61 and a beta of 0.72. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.06 and a current ratio of 1.06. Arthur J. Gallagher & Co. has a fifty-two week low of $218.63 and a fifty-two week high of $315.73.

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

Arthur J. Gallagher & Co. Announces Dividend

The firm also recently disclosed 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 of this dividend is Friday, December 6th. This represents a $2.40 annualized dividend and a dividend yield of 0.76%. Arthur J. Gallagher & Co.’s dividend payout ratio is currently 45.71%.

Analyst Ratings Changes

Several research firms have issued reports on AJG. TD Cowen increased their price objective on Arthur J. Gallagher & Co. from $273.00 to $288.00 and gave the stock a “hold” rating in a research note on Tuesday, August 13th. The Goldman Sachs Group lowered Arthur J. Gallagher & Co. from a “buy” rating to a “neutral” rating and set a $313.00 price objective for the company. in a research note on Monday. Piper Sandler increased their price objective 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. Truist Financial increased their price objective on Arthur J. Gallagher & Co. from $265.00 to $275.00 and gave the stock a “hold” rating in a research note on Friday, September 20th. Finally, Wells Fargo & Company increased their price objective on Arthur J. Gallagher & Co. from $309.00 to $315.00 and gave the stock an “overweight” rating in a research note on Thursday, October 10th. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $291.64.

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.