10,520 Arthur J. Gallagher & Co. $AJG Shares Acquired by Sumitomo Mitsui DS Asset Management Company Ltd

Key Points

• Sumitomo Mitsui DS Asset Management increased its AJG stake by 29.1% in the third quarter, acquiring 10,520 shares for a total holding of 46,643 shares valued at approximately $11.4 million. Institutional investors now own 85.53% of the company.
• Wall Street maintains a positive outlook, with 16 analysts rating AJG a Buy and five a Hold. The stock has a consensus rating of Moderate Buy and an average price target of $280.74.
• AJG reported quarterly EPS of $2.84, slightly exceeding estimates, while revenue rose 24.3% year over year to $3.95 billion. The company also declared a quarterly dividend of $0.70, representing an annualized yield of approximately 1.1%.

Sumitomo Mitsui DS Asset Management Company Ltd boosted its stake in Arthur J. Gallagher & Co. (NYSE:AJG - Free Report) by 29.1% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 46,643 shares of the financial services provider's stock after purchasing an additional 10,520 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd's holdings in Arthur J. Gallagher & Co. were worth $11,420,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of AJG. CWA Asset Management Group LLC increased its holdings in shares of Arthur J. Gallagher & Co. by 7,834.6% in the 3rd quarter. CWA Asset Management Group LLC now owns 114,576 shares of the financial services provider's stock worth $26,136,000 after buying an additional 113,132 shares during the last quarter. Abel Hall LLC purchased a new stake in shares of Arthur J. Gallagher & Co. during the 3rd quarter valued at $246,000. Robertson Stephens Wealth Management LLC purchased a new stake in shares of Arthur J. Gallagher & Co. during the 3rd quarter valued at $205,000. Vontobel Holding Ltd. raised its position in shares of Arthur J. Gallagher & Co. by 8.8% during the 3rd quarter. Vontobel Holding Ltd. now owns 12,932 shares of the financial services provider's stock valued at $3,102,000 after buying an additional 1,050 shares in the last quarter. Finally, TD Waterhouse Canada Inc. lifted its holdings in shares of Arthur J. Gallagher & Co. by 54.6% during the 3rd quarter. TD Waterhouse Canada Inc. now owns 34,065 shares of the financial services provider's stock worth $7,932,000 after acquiring an additional 12,030 shares during the last quarter. 85.53% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. Royal Bank Of Canada cut their target price on shares of Arthur J. Gallagher & Co. from $310.00 to $290.00 and set an "outperform" rating for the company in a research report on Thursday, September 24th. Mizuho lowered their price target on Arthur J. Gallagher & Co. from $292.00 to $271.00 and set an "outperform" rating on the stock in a research report on Wednesday, October 7th. Truist Financial raised their price target on Arthur J. Gallagher & Co. from $225.00 to $265.00 and gave the company a "hold" rating in a research report on Friday, July 31st. Argus lifted their price target on Arthur J. Gallagher & Co. from $267.00 to $300.00 and gave the stock a "buy" rating in a research note on Monday, August 17th. Finally, Citigroup upped their price objective on Arthur J. Gallagher & Co. from $250.00 to $285.00 and gave the stock a "buy" rating in a report on Tuesday, August 4th. Sixteen investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat, Arthur J. Gallagher & Co. presently has a consensus rating of "Moderate Buy" and a consensus target price of $280.74.

Insider Buying and Selling at Arthur J. Gallagher & Co.

In other Arthur J. Gallagher & Co. news, VP Christopher Mead sold 3,500 shares of the company's stock in a transaction dated Wednesday, August 19th. The shares were sold at an average price of $257.02, for a total transaction of $899,570.00. Following the completion of the sale, the vice president directly owned 22,223 shares in the company, valued at $5,711,755.46. This represents a 13.61% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, VP Scott Hudson sold 12,000 shares of the firm's stock in a transaction dated Wednesday, September 2nd. The shares were sold at an average price of $264.13, for a total value of $3,169,560.00. Following the transaction, the vice president directly owned 90,262 shares in the company, valued at $23,840,902.06. This trade represents a 11.73% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 28,500 shares of company stock valued at $7,562,950. Company insiders own 1.40% of the company's stock.

Arthur J. Gallagher & Co. Trading Up 2.5%

AJG stock opened at $259.31 on Wednesday. The company has a market capitalization of $66.46 billion, a PE ratio of 43.00, a price-to-earnings-growth ratio of 1.45 and a beta of 0.55. Arthur J. Gallagher & Co. has a one year low of $190.75 and a one year high of $284.33. The company's 50 day moving average price is $246.54 and its two-hundred day moving average price is $232.85. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.05 and a current ratio of 1.05.

Arthur J. Gallagher & Co. (NYSE:AJG - Get Free Report) last announced its quarterly earnings data on Thursday, July 30th. The financial services provider reported $2.84 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.81 by $0.03. Arthur J. Gallagher & Co. had a net margin of 9.96% and a return on equity of 13.28%. The company had revenue of $3.95 billion during the quarter, compared to analysts' expectations of $4.01 billion. During the same quarter in the prior year, the company earned $2.33 EPS. The firm's revenue was up 24.3% on a year-over-year basis. As a group, analysts predict that Arthur J. Gallagher & Co. will post 13.16 earnings per share for the current fiscal year.

Arthur J. Gallagher & Co. Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, September 18th. Shareholders of record on Tuesday, September 8th were paid a $0.70 dividend. The ex-dividend date of this dividend was Tuesday, September 8th. This represents a $2.80 annualized dividend and a yield of 1.1%. Arthur J. Gallagher & Co.'s payout ratio is currently 46.43%.

Arthur J. Gallagher & Co. Profile

Arthur J. Gallagher & Co is a global insurance brokerage, risk management and consulting company. The firm helps businesses, public entities and individuals identify, manage and transfer risk through insurance and related services.

Its operations include retail insurance brokerage, employee benefits consulting, wholesale brokerage, reinsurance brokerage, claims administration and risk management consulting. Gallagher places commercial and personal insurance coverage and provides services related to property and casualty risks, health care, benefits, and other specialized insurance needs.

Founded in 1927 by Arthur J.

Want to see what other hedge funds are holding AJG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Arthur J. Gallagher & Co. (NYSE:AJG - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.