Arthur J. Gallagher & Co. $AJG Shares Bought by MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.

Key Points

• MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Arthur J. Gallagher & Co. by 66.1%, bringing their total ownership to 38,415 shares worth approximately $13.26 million.
• Analysts have mixed views on the stock, with a consensus target price of $333.13, and ratings ranging from "strong buy" to "sell."
• The company declared a quarterly dividend of $0.65 per share, resulting in an annualized dividend yield of 0.9%.

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Arthur J. Gallagher & Co. (NYSE:AJG - Free Report) by 66.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 38,415 shares of the financial services provider's stock after acquiring an additional 15,290 shares during the quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.'s holdings in Arthur J. Gallagher & Co. were worth $13,262,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of AJG. HWG Holdings LP bought a new stake in Arthur J. Gallagher & Co. during the 1st quarter valued at $25,000. AlphaQuest LLC purchased a new stake in shares of Arthur J. Gallagher & Co. during the 1st quarter valued at $33,000. Saudi Central Bank purchased a new position in Arthur J. Gallagher & Co. in the 1st quarter worth $34,000. Centennial Bank AR purchased a new position in Arthur J. Gallagher & Co. in the 1st quarter worth $38,000. Finally, Golden State Wealth Management LLC raised its stake in Arthur J. Gallagher & Co. by 2,750.0% in the 1st quarter. Golden State Wealth Management LLC now owns 114 shares of the financial services provider's stock worth $39,000 after acquiring an additional 110 shares during the last quarter. Institutional investors own 85.53% of the company's stock.

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

In other Arthur J. Gallagher & Co. news, VP Scott R. Hudson sold 12,855 shares of the firm's stock in a transaction dated Monday, September 8th. The stock was sold at an average price of $297.60, for a total transaction of $3,825,648.00. Following the transaction, the vice president owned 85,920 shares of the company's stock, valued at approximately $25,569,792. This trade represents a 13.01% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Douglas K. Howell sold 3,000 shares of the firm's stock in a transaction dated Tuesday, September 9th. The stock was sold at an average price of $299.78, for a total value of $899,340.00. Following the transaction, the chief financial officer directly owned 114,777 shares in the company, valued at approximately $34,407,849.06. The trade was a 2.55% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.60% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on AJG shares. Wall Street Zen upgraded Arthur J. Gallagher & Co. from a "sell" rating to a "hold" rating in a research note on Friday, September 5th. Barclays cut their price target on Arthur J. Gallagher & Co. from $346.00 to $327.00 and set an "equal weight" rating for the company in a research note on Monday, July 7th. The Goldman Sachs Group began coverage on Arthur J. Gallagher & Co. in a research note on Wednesday, September 3rd. They issued a "buy" rating and a $344.00 price objective for the company. Cantor Fitzgerald upgraded Arthur J. Gallagher & Co. to a "strong-buy" rating in a report on Wednesday, August 13th. Finally, Keefe, Bruyette & Woods upped their price objective on Arthur J. Gallagher & Co. from $326.00 to $330.00 and gave the company a "market perform" rating in a report on Wednesday, July 9th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $333.13.

Arthur J. Gallagher & Co. Stock Down 1.1%

Shares of NYSE AJG traded down $3.34 during mid-day trading on Friday, hitting $297.27. The company had a trading volume of 1,302,078 shares, compared to its average volume of 1,313,249. The company has a market capitalization of $76.22 billion, a PE ratio of 42.23 and a beta of 0.72. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.36 and a quick ratio of 1.36. Arthur J. Gallagher & Co. has a 1-year low of $274.25 and a 1-year high of $351.23. The business's 50-day simple moving average is $300.81 and its 200 day simple moving average is $319.61.

Arthur J. Gallagher & Co. (NYSE:AJG - Get Free Report) last posted its earnings results on Thursday, July 31st. The financial services provider reported $2.33 EPS for the quarter, missing the consensus estimate of $2.36 by ($0.03). The business had revenue of $3.18 billion during the quarter, compared to analysts' expectations of $3.20 billion. Arthur J. Gallagher & Co. had a net margin of 14.54% and a return on equity of 13.17%. The business's quarterly revenue was up 16.0% compared to the same quarter last year. During the same period last year, the company earned $2.29 EPS. On average, analysts predict that Arthur J. Gallagher & Co. will post 11.54 earnings per share for the current year.

Arthur J. Gallagher & Co. Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 19th. Investors of record on Friday, September 5th will be issued a $0.65 dividend. This represents a $2.60 annualized dividend and a yield of 0.9%. The ex-dividend date of this dividend is Friday, September 5th. Arthur J. Gallagher & Co.'s dividend payout ratio is 36.93%.

About Arthur J. Gallagher & Co.

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.