Tredje AP fonden Acquires 30,000 Shares of Arthur J. Gallagher & Co. $AJG

Tredje AP fonden raised its holdings in shares of Arthur J. Gallagher & Co. (NYSE:AJG) by 37.9% in the third quarter, Holdings Channel reports. The institutional investor owned 109,212 shares of the financial services provider’s stock after buying an additional 30,000 shares during the quarter. Tredje AP fonden’s holdings in Arthur J. Gallagher & Co. were worth $33,827,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. D.A. Davidson & CO. raised its stake in Arthur J. Gallagher & Co. by 1.2% during the 2nd quarter. D.A. Davidson & CO. now owns 2,892 shares of the financial services provider’s stock valued at $926,000 after purchasing an additional 35 shares during the last quarter. Parkside Financial Bank & Trust raised its position in shares of Arthur J. Gallagher & Co. by 6.5% during the second quarter. Parkside Financial Bank & Trust now owns 570 shares of the financial services provider’s stock valued at $182,000 after buying an additional 35 shares during the last quarter. Dorsey & Whitney Trust CO LLC lifted its stake in shares of Arthur J. Gallagher & Co. by 1.4% in the second quarter. Dorsey & Whitney Trust CO LLC now owns 2,623 shares of the financial services provider’s stock valued at $840,000 after buying an additional 35 shares during the period. CX Institutional grew its position in Arthur J. Gallagher & Co. by 2.1% during the third quarter. CX Institutional now owns 1,782 shares of the financial services provider’s stock worth $552,000 after buying an additional 36 shares in the last quarter. Finally, Citizens Financial Group Inc. RI increased its stake in Arthur J. Gallagher & Co. by 1.0% during the third quarter. Citizens Financial Group Inc. RI now owns 3,958 shares of the financial services provider’s stock valued at $1,226,000 after acquiring an additional 38 shares during the period. Institutional investors own 85.53% of the company’s stock.

Insiders Place Their Bets

In other Arthur J. Gallagher & Co. news, VP Christopher E. Mead sold 4,000 shares of the company’s stock in a transaction dated Tuesday, December 23rd. The shares were sold at an average price of $258.11, for a total transaction of $1,032,440.00. Following the transaction, the vice president directly owned 17,327 shares in the company, valued at approximately $4,472,271.97. This represents a 18.76% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Douglas K. Howell sold 5,000 shares of the firm’s stock in a transaction dated Monday, December 22nd. The shares were sold at an average price of $258.05, for a total transaction of $1,290,250.00. Following the completion of the transaction, the chief financial officer directly owned 95,777 shares in the company, valued at $24,715,254.85. This trade represents a 4.96% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 24,850 shares of company stock valued at $6,364,440. 1.60% of the stock is currently owned by insiders.

Arthur J. Gallagher & Co. Stock Performance

Arthur J. Gallagher & Co. stock opened at $216.54 on Friday. The stock has a 50-day simple moving average of $246.39 and a 200 day simple moving average of $268.33. The stock has a market capitalization of $55.67 billion, a price-to-earnings ratio of 35.21, a P/E/G ratio of 1.18 and a beta of 0.66. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.52. Arthur J. Gallagher & Co. has a 12-month low of $195.00 and a 12-month high of $351.23.

Arthur J. Gallagher & Co. (NYSE:AJG) last posted its quarterly earnings data on Thursday, January 29th. The financial services provider reported $2.38 earnings per share for the quarter, beating the consensus estimate of $2.35 by $0.03. Arthur J. Gallagher & Co. had a net margin of 11.84% and a return on equity of 12.13%. The firm had revenue of $3.57 billion during the quarter, compared to analysts’ expectations of $3.61 billion. During the same quarter last year, the company posted $1.12 EPS. The company’s quarterly revenue was up 33.9% compared to the same quarter last year. On average, research analysts anticipate that Arthur J. Gallagher & Co. will post 11.54 earnings per share for the current fiscal year.

Arthur J. Gallagher & Co. Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 20th. Stockholders of record on Friday, March 6th will be paid a $0.70 dividend. This is an increase from Arthur J. Gallagher & Co.’s previous quarterly dividend of $0.65. The ex-dividend date of this dividend is Friday, March 6th. This represents a $2.80 annualized dividend and a dividend yield of 1.3%. Arthur J. Gallagher & Co.’s payout ratio is 42.28%.

Analysts Set New Price Targets

A number of analysts have commented on the company. Barclays reduced their price objective on Arthur J. Gallagher & Co. from $250.00 to $247.00 and set an “underweight” rating for the company in a research report on Thursday, January 8th. Wall Street Zen upgraded shares of Arthur J. Gallagher & Co. from a “sell” rating to a “hold” rating in a research note on Saturday. The Goldman Sachs Group reissued a “buy” rating and issued a $292.00 target price on shares of Arthur J. Gallagher & Co. in a research note on Wednesday, January 7th. TD Cowen reaffirmed a “buy” rating on shares of Arthur J. Gallagher & Co. in a report on Friday, October 31st. Finally, Truist Financial set a $271.00 price objective on Arthur J. Gallagher & Co. in a research note on Friday, January 30th. Six investment analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $284.12.

Arthur J. Gallagher & Co. Company Profile

Arthur J. Gallagher & Co is a global insurance brokerage and risk management firm headquartered in Rolling Meadows, Illinois. Founded in 1927 by Arthur J. Gallagher, the company has grown from a regional broker into an international professional services organization that arranges insurance, provides consulting and designs risk-transfer solutions for commercial, industrial, public sector and individual clients.

The company’s core activities include property and casualty insurance brokerage, employee benefits consulting and administration, and a range of risk management services.