Taikang Asset Management Hong Kong Co Ltd Buys 15,608 Shares of Arthur J. Gallagher & Co. $AJG

Taikang Asset Management Hong Kong Co Ltd lifted its stake in Arthur J. Gallagher & Co. (NYSE:AJG) by 35.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 59,708 shares of the financial services provider’s stock after acquiring an additional 15,608 shares during the period. Arthur J. Gallagher & Co. accounts for 1.5% of Taikang Asset Management Hong Kong Co Ltd’s portfolio, making the stock its 17th largest position. Taikang Asset Management Hong Kong Co Ltd’s holdings in Arthur J. Gallagher & Co. were worth $15,452,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently made changes to their positions in AJG. Rakuten Securities Inc. raised its position in shares of Arthur J. Gallagher & Co. by 650.0% in the 2nd quarter. Rakuten Securities Inc. now owns 105 shares of the financial services provider’s stock worth $34,000 after acquiring an additional 91 shares in the last quarter. Financial Life Planners bought a new position in shares of Arthur J. Gallagher & Co. in the 3rd quarter worth $39,000. Thurston Springer Miller Herd & Titak Inc. raised its position in shares of Arthur J. Gallagher & Co. by 668.2% in the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 169 shares of the financial services provider’s stock worth $44,000 after acquiring an additional 147 shares in the last quarter. CVA Family Office LLC raised its position in shares of Arthur J. Gallagher & Co. by 84.8% in the 4th quarter. CVA Family Office LLC now owns 183 shares of the financial services provider’s stock worth $47,000 after acquiring an additional 84 shares in the last quarter. Finally, Entrust Financial LLC bought a new position in shares of Arthur J. Gallagher & Co. in the 4th quarter worth $51,000. 85.53% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Arthur J. Gallagher & Co. news, CAO Richard C. Cary sold 3,000 shares of the business’s stock in a transaction dated Tuesday, June 2nd. The stock was sold at an average price of $206.00, for a total transaction of $618,000.00. Following the sale, the chief accounting officer owned 47,819 shares in the company, valued at approximately $9,850,714. The trade was a 5.90% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 1.40% of the company’s stock.

Arthur J. Gallagher & Co. Stock Up 0.2%

Arthur J. Gallagher & Co. stock opened at $216.16 on Wednesday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.06 and a current ratio of 1.06. The business’s 50-day simple moving average is $210.90 and its two-hundred day simple moving average is $227.44. The company has a market cap of $55.53 billion, a PE ratio of 34.98, a PEG ratio of 1.09 and a beta of 0.52. Arthur J. Gallagher & Co. has a fifty-two week low of $190.75 and a fifty-two week high of $327.34.

Arthur J. Gallagher & Co. (NYSE:AJG) last posted its quarterly earnings results on Thursday, April 30th. The financial services provider reported $4.47 earnings per share for the quarter, beating the consensus estimate of $4.43 by $0.04. The business had revenue of $4.71 billion for the quarter, compared to the consensus estimate of $4.73 billion. Arthur J. Gallagher & Co. had a return on equity of 12.83% and a net margin of 10.76%.The company’s quarterly revenue was up 29.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $3.67 EPS. Equities analysts anticipate that Arthur J. Gallagher & Co. will post 13.27 EPS for the current year.

Arthur J. Gallagher & Co. Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 19th. Shareholders of record on Friday, June 5th will be paid a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 1.3%. The ex-dividend date is Friday, June 5th. Arthur J. Gallagher & Co.’s payout ratio is presently 45.31%.

Analysts Set New Price Targets

Several brokerages recently weighed in on AJG. Jefferies Financial Group upgraded Arthur J. Gallagher & Co. from a “hold” rating to a “buy” rating and boosted their target price for the stock from $235.00 to $265.00 in a research note on Thursday, June 11th. Royal Bank Of Canada began coverage on Arthur J. Gallagher & Co. in a research note on Tuesday, March 17th. They set an “outperform” rating and a $260.00 target price on the stock. Wells Fargo & Company dropped their target price on Arthur J. Gallagher & Co. from $273.00 to $266.00 and set an “overweight” rating on the stock in a research note on Thursday, April 9th. UBS Group upgraded Arthur J. Gallagher & Co. from a “neutral” rating to a “buy” rating and dropped their target price for the stock from $283.00 to $250.00 in a research note on Monday, June 8th. Finally, Citigroup upgraded Arthur J. Gallagher & Co. from a “neutral” rating to a “buy” rating and dropped their target price for the stock from $280.00 to $250.00 in a research note on Wednesday, May 6th. Thirteen research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Arthur J. Gallagher & Co. currently has a consensus rating of “Moderate Buy” and an average target price of $263.71.

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.