Oddo BHF Asset Management Sas Invests $3.76 Million in Arthur J. Gallagher & Co. (NYSE:AJG)

Oddo BHF Asset Management Sas purchased a new position in Arthur J. Gallagher & Co. (NYSE:AJG) in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 13,378 shares of the financial services provider’s stock, valued at approximately $3,764,000.

Several other large investors have also recently modified their holdings of the stock. FMR LLC raised its position in shares of Arthur J. Gallagher & Co. by 4.9% in the 3rd 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 last quarter. State Street Corp raised its position in shares of Arthur J. Gallagher & Co. by 0.5% in the 3rd quarter. State Street Corp now owns 8,932,007 shares of the financial services provider’s stock worth $2,513,199,000 after purchasing an additional 47,656 shares during the last quarter. Geode Capital Management LLC raised its position in Arthur J. Gallagher & Co. by 1.5% in the 3rd quarter. Geode Capital Management LLC now owns 5,490,728 shares of the financial services provider’s stock worth $1,541,044,000 after buying an additional 79,429 shares during the last quarter. Massachusetts Financial Services Co. MA raised its position in Arthur J. Gallagher & Co. by 13.6% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 3,196,992 shares of the financial services provider’s stock worth $899,538,000 after buying an additional 383,130 shares during the last quarter. Finally, Legal & General Group Plc raised its position in Arthur J. Gallagher & Co. by 2.7% in the 2nd quarter. Legal & General Group Plc now owns 1,640,938 shares of the financial services provider’s stock worth $425,511,000 after buying an additional 42,841 shares during the last quarter. Hedge funds and other institutional investors own 85.53% of the company’s stock.

Arthur J. Gallagher & Co. Trading Up 0.9 %

Shares of NYSE:AJG opened at $283.79 on Friday. The stock has a 50 day moving average of $293.43 and a 200 day moving average of $281.59. The company has a market cap of $62.26 billion, a PE ratio of 53.57, a price-to-earnings-growth ratio of 2.41 and a beta of 0.74. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 0.64. Arthur J. Gallagher & Co. has a 12-month low of $218.63 and a 12-month high of $316.72.

Arthur J. Gallagher & Co. (NYSE:AJG) last announced its quarterly earnings data on Thursday, October 24th. The financial services provider reported $2.26 earnings per share (EPS) 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 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 company posted $2.00 EPS. The firm’s revenue was up 12.8% on a year-over-year basis. As a group, equities research analysts expect that Arthur J. Gallagher & Co. will post 10.12 EPS for the current year.

Arthur J. Gallagher & Co. Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Friday, December 6th will be paid a $0.60 dividend. The ex-dividend date is Friday, December 6th. This represents a $2.40 annualized dividend and a yield of 0.85%. Arthur J. Gallagher & Co.’s payout ratio is 45.71%.

Analysts Set New Price Targets

A number of equities analysts have weighed in on AJG shares. Bank of America boosted their target price on Arthur J. Gallagher & Co. from $271.00 to $293.00 and gave the stock an “underperform” rating in a research report on Thursday, October 10th. Barclays boosted their target price on Arthur J. Gallagher & Co. from $300.00 to $308.00 and gave the stock an “equal weight” rating in a research report on Thursday, November 21st. Wells Fargo & Company boosted their target price on Arthur J. Gallagher & Co. from $315.00 to $344.00 and gave the stock an “overweight” rating in a research report on Tuesday. Keefe, Bruyette & Woods upped their price target on shares of Arthur J. Gallagher & Co. from $260.00 to $292.00 and gave the company an “underperform” rating in a research report on Wednesday. Finally, Piper Sandler upped their price target on shares of Arthur J. Gallagher & Co. from $254.00 to $293.00 and gave the company a “neutral” rating in a research report on Friday, September 20th. Three equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, Arthur J. Gallagher & Co. currently has a consensus rating of “Hold” and a consensus price target of $296.57.

Insiders Place Their Bets

In other Arthur J. Gallagher & Co. news, VP Christopher E. Mead sold 2,800 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, 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 transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Douglas K. Howell sold 7,000 shares of the stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $284.70, for a total value of $1,992,900.00. Following the transaction, the chief financial officer now owns 75,963 shares of the company’s stock, valued at $21,626,666.10. This represents a 8.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 16,800 shares of company stock worth $4,789,260 in the last three months. 1.60% of the stock is owned by company 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.