Asset Management One Co. Ltd. raised its holdings in Arthur J. Gallagher & Co. (NYSE:AJG - Free Report) by 10.4% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 108,134 shares of the financial services provider's stock after acquiring an additional 10,216 shares during the quarter. Asset Management One Co. Ltd.'s holdings in Arthur J. Gallagher & Co. were worth $37,332,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Norges Bank acquired a new position in shares of Arthur J. Gallagher & Co. during the 4th quarter worth $1,421,591,000. Vanguard Group Inc. raised its stake in shares of Arthur J. Gallagher & Co. by 14.9% during the 4th quarter. Vanguard Group Inc. now owns 29,672,134 shares of the financial services provider's stock worth $8,422,435,000 after buying an additional 3,851,661 shares during the last quarter. Winslow Capital Management LLC acquired a new position in shares of Arthur J. Gallagher & Co. during the 4th quarter worth $719,489,000. Capital World Investors raised its stake in shares of Arthur J. Gallagher & Co. by 30.4% during the 4th quarter. Capital World Investors now owns 8,199,413 shares of the financial services provider's stock worth $2,327,403,000 after buying an additional 1,910,471 shares during the last quarter. Finally, Wellington Management Group LLP raised its stake in shares of Arthur J. Gallagher & Co. by 162.0% during the 4th quarter. Wellington Management Group LLP now owns 2,822,319 shares of the financial services provider's stock worth $801,115,000 after buying an additional 1,745,283 shares during the last quarter. Institutional investors and hedge funds own 85.53% of the company's stock.
Arthur J. Gallagher & Co. Trading Down 0.2%
Shares of AJG traded down $0.69 during trading hours on Friday, hitting $317.70. The stock had a trading volume of 5,446,954 shares, compared to its average volume of 1,369,634. Arthur J. Gallagher & Co. has a 12-month low of $257.58 and a 12-month high of $351.23. The firm has a market cap of $81.36 billion, a P/E ratio of 45.98 and a beta of 0.74. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.44 and a current ratio of 1.44. The company's fifty day simple moving average is $329.57 and its 200 day simple moving average is $318.47.
Arthur J. Gallagher & Co. (NYSE:AJG - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The financial services provider reported $3.67 EPS for the quarter, topping analysts' consensus estimates of $3.57 by $0.10. The company had revenue of $3.69 billion for the quarter, compared to the consensus estimate of $3.85 billion. Arthur J. Gallagher & Co. had a return on equity of 14.83% and a net margin of 14.39%. The company's quarterly revenue was up 14.5% compared to the same quarter last year. During the same period last year, the business posted $3.45 EPS. Equities research analysts forecast that Arthur J. Gallagher & Co. will post 11.54 EPS for the current fiscal year.
Arthur J. Gallagher & Co. Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Friday, June 20th. Investors of record on Friday, June 6th were issued a $0.65 dividend. The ex-dividend date of this dividend was Friday, June 6th. This represents a $2.60 annualized dividend and a yield of 0.82%. Arthur J. Gallagher & Co.'s payout ratio is 37.63%.
Insider Transactions at Arthur J. Gallagher & Co.
In other news, VP Scott R. Hudson sold 10,500 shares of Arthur J. Gallagher & Co. stock in a transaction dated Wednesday, May 21st. The stock was sold at an average price of $337.17, for a total transaction of $3,540,285.00. Following the sale, the vice president now directly owns 91,175 shares of the company's stock, valued at approximately $30,741,474.75. The trade was a 10.33% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Susan E. Pietrucha sold 13,500 shares of the business's stock in a transaction dated Monday, May 19th. The shares were sold at an average price of $344.13, for a total value of $4,645,755.00. Following the completion of the sale, the insider now directly owns 11,941 shares of the company's stock, valued at approximately $4,109,256.33. This represents a 53.06% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 25,000 shares of company stock valued at $8,528,080. 1.60% of the stock is currently owned by insiders.
Wall Street Analysts Forecast Growth
Several research analysts recently weighed in on AJG shares. Wells Fargo & Company cut their target price on shares of Arthur J. Gallagher & Co. from $372.00 to $371.00 and set an "overweight" rating for the company in a research note on Monday, June 9th. Jefferies Financial Group cut their price objective on shares of Arthur J. Gallagher & Co. from $266.00 to $265.00 and set a "hold" rating for the company in a research report on Friday, April 11th. Keefe, Bruyette & Woods raised their target price on shares of Arthur J. Gallagher & Co. from $315.00 to $326.00 and gave the stock a "market perform" rating in a research report on Thursday, June 5th. Redburn Atlantic assumed coverage on Arthur J. Gallagher & Co. in a report on Tuesday, March 25th. They issued a "neutral" rating and a $352.00 price target for the company. Finally, Barclays raised their price objective on Arthur J. Gallagher & Co. from $308.00 to $346.00 and gave the stock an "equal weight" rating in a report on Friday, April 11th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $319.29.
Get Our Latest Analysis on AJG
About Arthur J. Gallagher & Co.
(
Free Report)
Arthur J. Gallagher & Co engages in the provision of insurance brokerage, reinsurance brokerage, consulting, and third-party claims settlement and administration services. It operates through the following segments: Brokerage, Risk Management, and Corporate. The Brokerage segment consists of retail and wholesale insurance brokerage operations.
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