Arthur J. Gallagher & Co. (NYSE:AJG) Shares Bought by Daiwa Securities Group Inc.

Daiwa Securities Group Inc. increased its holdings in Arthur J. Gallagher & Co. (NYSE:AJG) by 5.6% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 47,910 shares of the financial services provider’s stock after buying an additional 2,539 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Arthur J. Gallagher & Co. were worth $13,481,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. W Advisors LLC increased its stake in shares of Arthur J. Gallagher & Co. by 2.4% in the 3rd quarter. W Advisors LLC now owns 1,514 shares of the financial services provider’s stock worth $426,000 after acquiring an additional 36 shares during the last quarter. Miracle Mile Advisors LLC increased its stake in shares of Arthur J. Gallagher & Co. by 0.8% in the 3rd quarter. Miracle Mile Advisors LLC now owns 4,583 shares of the financial services provider’s stock worth $1,289,000 after acquiring an additional 38 shares during the last quarter. Covenant Partners LLC increased its stake in shares of Arthur J. Gallagher & Co. by 0.7% in the 3rd quarter. Covenant Partners LLC now owns 5,326 shares of the financial services provider’s stock worth $1,499,000 after acquiring an additional 38 shares during the last quarter. Disciplined Investments LLC increased its stake in shares of Arthur J. Gallagher & Co. by 0.7% in the 3rd quarter. Disciplined Investments LLC now owns 5,849 shares of the financial services provider’s stock worth $1,635,000 after acquiring an additional 38 shares during the last quarter. Finally, Seelaus Asset Management LLC increased its stake in shares of Arthur J. Gallagher & Co. by 0.7% in the 3rd quarter. Seelaus Asset Management LLC now owns 5,481 shares of the financial services provider’s stock worth $1,542,000 after acquiring an additional 38 shares during the last quarter. Institutional investors and hedge funds own 85.53% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on AJG shares. Truist Financial raised their target price 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. Jefferies Financial Group raised their price objective on Arthur J. Gallagher & Co. from $269.00 to $274.00 and gave the stock a “hold” rating in a research report on Wednesday, October 9th. TD Cowen raised their price objective on 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 raised their price objective on Arthur J. Gallagher & Co. from $309.00 to $315.00 and gave the stock an “overweight” rating in a research report on Thursday, October 10th. Finally, Bank of America raised their price objective 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. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $289.71.

Insider Activity

In related news, CFO Douglas K. Howell sold 7,000 shares of the business’s stock in a transaction that occurred on Thursday, September 19th. The stock was sold at an average price of $284.68, for a total transaction of $1,992,760.00. Following the completion of the sale, the chief financial officer now owns 75,963 shares in the company, valued at $21,625,146.84. The trade was a 8.44 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Christopher E. Mead sold 2,800 shares of the business’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 sale, the vice president now owns 14,674 shares of the company’s stock, valued at approximately $4,211,438. The trade was a 16.02 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 23,900 shares of company stock worth $6,892,280. 1.60% of the stock is currently owned by company insiders.

Arthur J. Gallagher & Co. Stock Performance

NYSE AJG opened at $304.29 on Monday. The stock has a 50-day moving average of $288.55 and a two-hundred day moving average of $277.18. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.06 and a quick ratio of 1.06. The company has a market cap of $66.76 billion, a P/E ratio of 57.96, a P/E/G ratio of 2.58 and a beta of 0.72. Arthur J. Gallagher & Co. has a 1-year low of $218.63 and a 1-year high of $308.00.

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 the consensus estimate of $2.26. The business had revenue of $2.77 billion during the quarter, compared to analysts’ expectations of $2.78 billion. Arthur J. Gallagher & Co. had a return on equity of 19.12% and a net margin of 10.40%. The business’s quarterly revenue was up 12.8% compared to the same quarter last year. During the same quarter last year, the business posted $2.00 EPS. As a group, analysts anticipate that Arthur J. Gallagher & Co. will post 10.12 EPS for the current year.

Arthur J. Gallagher & Co. Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Friday, December 6th will be paid a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 0.79%. The ex-dividend date of this dividend is Friday, December 6th. Arthur J. Gallagher & Co.’s payout ratio is presently 45.71%.

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 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.