Danske Bank A S Makes New $35.23 Million Investment in Arthur J. Gallagher & Co. $AJG

Danske Bank A S bought a new stake in Arthur J. Gallagher & Co. (NYSE:AJG) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 153,468 shares of the financial services provider’s stock, valued at approximately $35,232,000. Danske Bank A S owned about 0.06% of Arthur J. Gallagher & Co. as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of AJG. Commerzbank Aktiengesellschaft FI bought a new position in Arthur J. Gallagher & Co. during the second quarter valued at about $561,000. Plato Investment Management Ltd acquired a new stake in Arthur J. Gallagher & Co. in the 2nd quarter valued at $306,000. Bank of New York Mellon Corp bought a new stake in shares of Arthur J. Gallagher & Co. in the 2nd quarter worth about $289,484,000. Cardinal Capital Management Inc. grew its stake in Arthur J. Gallagher & Co. by 1.3% during the second quarter. Cardinal Capital Management Inc. now owns 43,710 shares of the financial services provider’s stock worth $10,035,000 after buying an additional 543 shares during the last quarter. Finally, Tema ETFs LLC grew its position in Arthur J. Gallagher & Co. by 26.3% during the 2nd quarter. Tema ETFs LLC now owns 4,880 shares of the financial services provider’s stock worth $1,120,000 after acquiring an additional 1,016 shares during the last quarter. 85.53% of the stock is owned by institutional investors.

Arthur J. Gallagher & Co. Stock Up 3.7%

AJG stock opened at $257.64 on Thursday. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.05 and a quick ratio of 1.05. Arthur J. Gallagher & Co. has a fifty-two week low of $190.75 and a fifty-two week high of $313.55. The business’s fifty day moving average price is $242.84 and its two-hundred day moving average price is $224.69. The stock has a market capitalization of $66.03 billion, a price-to-earnings ratio of 42.73, a PEG ratio of 1.52 and a beta of 0.50.

Arthur J. Gallagher & Co. (NYSE:AJG) last issued its quarterly earnings results on Thursday, July 30th. The financial services provider reported $2.84 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.81 by $0.03. The business had revenue of $3.95 billion for the quarter, compared to the consensus estimate of $4.01 billion. Arthur J. Gallagher & Co. had a return on equity of 13.28% and a net margin of 9.96%.The firm’s quarterly revenue was up 24.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.33 earnings per share. On average, equities analysts anticipate that Arthur J. Gallagher & Co. will post 13.27 earnings per share for the current year.

Arthur J. Gallagher & Co. Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 18th. Investors of record on Tuesday, September 8th will be paid a $0.70 dividend. The ex-dividend date of this dividend is Tuesday, September 8th. This represents a $2.80 annualized dividend and a yield of 1.1%. Arthur J. Gallagher & Co.’s dividend payout ratio (DPR) is 46.43%.

Insider Activity

In related news, CAO Richard C. Cary sold 3,000 shares of the company’s stock in a transaction that occurred on Tuesday, June 2nd. The shares were sold at an average price of $206.00, for a total transaction of $618,000.00. Following the completion of the transaction, the chief accounting officer directly owned 47,819 shares in the company, valued at $9,850,714. This represents a 5.90% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 1.40% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have commented on the stock. Piper Sandler increased their price objective on shares of Arthur J. Gallagher & Co. from $276.00 to $287.00 and gave the stock an “overweight” rating in a report on Friday, July 31st. Wells Fargo & Company dropped their price objective on Arthur J. Gallagher & Co. from $299.00 to $296.00 and set an “overweight” rating for the company in a report on Monday, August 3rd. Barclays lifted their price target on shares of Arthur J. Gallagher & Co. from $275.00 to $292.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 7th. Cantor Fitzgerald increased their target price on Arthur J. Gallagher & Co. from $285.00 to $300.00 and gave the stock a “neutral” rating in a research note on Thursday, July 9th. Finally, Citigroup lifted their target price on Arthur J. Gallagher & Co. from $250.00 to $285.00 and gave the company a “buy” rating in a research report on Tuesday, August 4th. Fourteen investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $290.28.

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.