B. Metzler seel. Sohn & Co. AG boosted its holdings in Arthur J. Gallagher & Co. (NYSE:AJG - Free Report) by 52.6% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 19,123 shares of the financial services provider's stock after purchasing an additional 6,594 shares during the quarter. B. Metzler seel. Sohn & Co. AG's holdings in Arthur J. Gallagher & Co. were worth $4,390,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently modified their holdings of AJG. Kemnay Advisory Services Inc. bought a new stake in shares of Arthur J. Gallagher & Co. in the 4th quarter worth $26,000. Axiom Investment Management LLC bought a new position in Arthur J. Gallagher & Co. in the 1st quarter worth about $28,000. Cassaday & Co Wealth Management LLC purchased a new stake in Arthur J. Gallagher & Co. in the 1st quarter worth approximately $29,000. MV Capital Management Inc. bought a new stake in shares of Arthur J. Gallagher & Co. during the 4th quarter valued at about $34,000. Finally, Rakuten Securities Inc. increased its stake in Arthur J. Gallagher & Co. by 650.0% in the second quarter. Rakuten Securities Inc. now owns 105 shares of the financial services provider's stock valued at $34,000 after acquiring an additional 91 shares during the last quarter. Institutional investors own 85.53% of the company's stock.
Arthur J. Gallagher & Co. Stock Down 1.7%
Shares of NYSE AJG opened at $262.24 on Friday. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.05 and a quick ratio of 1.05. The company has a market capitalization of $67.21 billion, a P/E ratio of 43.49, a P/E/G ratio of 1.62 and a beta of 0.50. The company has a 50 day simple moving average of $254.17 and a 200-day simple moving average of $227.66. Arthur J. Gallagher & Co. has a 1 year low of $190.75 and a 1 year high of $313.55.
Arthur J. Gallagher & Co. (NYSE:AJG - Get Free Report) last issued its quarterly earnings data on Thursday, July 30th. The financial services provider reported $2.84 earnings per share for the quarter, beating analysts' consensus estimates of $2.81 by $0.03. Arthur J. Gallagher & Co. had a return on equity of 13.28% and a net margin of 9.96%.The business had revenue of $3.95 billion during the quarter, compared to analysts' expectations of $4.01 billion. During the same period in the previous year, the firm posted $2.33 earnings per share. The company's revenue was up 24.3% on a year-over-year basis. On average, equities research analysts predict that Arthur J. Gallagher & Co. will post 13.28 earnings per share for the current year.
Arthur J. Gallagher & Co. Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Friday, September 18th. Investors of record on Tuesday, September 8th will be issued a dividend of $0.70 per share. The ex-dividend date of this dividend is Tuesday, September 8th. This represents a $2.80 annualized dividend and a dividend yield of 1.1%. Arthur J. Gallagher & Co.'s dividend payout ratio (DPR) is currently 46.43%.
Analyst Ratings Changes
Several brokerages have weighed in on AJG. Piper Sandler increased their price target on shares of Arthur J. Gallagher & Co. from $276.00 to $287.00 and gave the company an "overweight" rating in a research report on Friday, July 31st. Citigroup boosted their price target on Arthur J. Gallagher & Co. from $250.00 to $285.00 and gave the company a "buy" rating in a research note on Tuesday, August 4th. Morgan Stanley increased their price objective on shares of Arthur J. Gallagher & Co. from $270.00 to $290.00 and gave the company an "overweight" rating in a research report on Wednesday, August 19th. Weiss Ratings raised shares of Arthur J. Gallagher & Co. from a "hold (c-)" rating to a "hold (c)" rating in a research report on Monday, July 13th. Finally, Truist Financial increased their price target on Arthur J. Gallagher & Co. from $225.00 to $265.00 and gave the stock a "hold" rating in a research report on Friday, July 31st. Fourteen investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $290.28.
Read Our Latest Research Report on AJG
Insider Transactions at Arthur J. Gallagher & Co.
In other news, VP Scott R. Hudson sold 12,000 shares of Arthur J. Gallagher & Co. stock in a transaction on Wednesday, September 2nd. The stock was sold at an average price of $264.13, for a total value of $3,169,560.00. Following the completion of the sale, the vice president owned 90,262 shares of the company's stock, valued at $23,840,902.06. The trade was a 11.73% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Christopher E. Mead sold 3,500 shares of the company's stock in a transaction on Wednesday, August 19th. The stock was sold at an average price of $257.02, for a total transaction of $899,570.00. Following the sale, the vice president directly owned 22,223 shares of the company's stock, valued at approximately $5,711,755.46. This trade represents a 13.61% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 27,500 shares of company stock valued at $7,310,090. Corporate insiders own 1.40% of the company's stock.
Arthur J. Gallagher & Co. Company Profile
(
Free Report)
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.
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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).
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