Mirae Asset Global Investments Co. Ltd. Has $16.34 Million Stock Holdings in Arthur J. Gallagher & Co. (NYSE:AJG)

Mirae Asset Global Investments Co. Ltd. grew its position in Arthur J. Gallagher & Co. (NYSE:AJG - Free Report) by 37.8% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 49,546 shares of the financial services provider's stock after purchasing an additional 13,599 shares during the period. Mirae Asset Global Investments Co. Ltd.'s holdings in Arthur J. Gallagher & Co. were worth $16,337,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. 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. boosted its holdings in Arthur J. Gallagher & Co. by 14.9% in the fourth quarter. Vanguard Group Inc. now owns 29,672,134 shares of the financial services provider's stock worth $8,422,435,000 after purchasing an additional 3,851,661 shares in the last quarter. Winslow Capital Management LLC acquired a new position in Arthur J. Gallagher & Co. during the fourth quarter worth $719,489,000. Capital World Investors raised its holdings in Arthur J. Gallagher & Co. by 30.4% during the fourth quarter. Capital World Investors now owns 8,199,413 shares of the financial services provider's stock valued at $2,327,403,000 after buying an additional 1,910,471 shares in the last quarter. Finally, Wellington Management Group LLP lifted its position in shares of Arthur J. Gallagher & Co. by 162.0% in the fourth 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 own 85.53% of the company's stock.

Insiders Place Their Bets

In other news, VP Scott R. Hudson sold 10,500 shares of the business's stock in a transaction that occurred on Wednesday, May 21st. The stock was sold at an average price of $337.17, for a total value of $3,540,285.00. Following the transaction, the vice president now directly owns 91,175 shares of the company's stock, valued at $30,741,474.75. The trade was a 10.33% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director David S. Johnson sold 1,000 shares of Arthur J. Gallagher & Co. stock in a transaction on Friday, May 16th. The shares were sold at an average price of $342.04, for a total value of $342,040.00. Following the completion of the transaction, the director now owns 45,323 shares of the company's stock, valued at approximately $15,502,278.92. The trade was a 2.16% decrease in their position. The disclosure for this sale can be found here. Insiders sold 25,000 shares of company stock worth $8,528,080 over the last three months. 1.30% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. Wells Fargo & Company lowered their price objective on Arthur J. Gallagher & Co. from $372.00 to $371.00 and set an "overweight" rating on the stock in a report on Monday, June 9th. Keefe, Bruyette & Woods increased their price target on Arthur J. Gallagher & Co. from $315.00 to $326.00 and gave the company a "market perform" rating in a report on Thursday, June 5th. Barclays upped their price objective on shares of 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. Redburn Atlantic initiated coverage on shares of Arthur J. Gallagher & Co. in a report on Tuesday, March 25th. They issued a "neutral" rating and a $352.00 target price on the stock. Finally, Jefferies Financial Group decreased their price target on shares of Arthur J. Gallagher & Co. from $266.00 to $265.00 and set a "hold" rating for the company in a report on Friday, April 11th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $319.29.

Arthur J. Gallagher & Co. Stock Performance

AJG opened at $317.70 on Monday. The stock has a market cap of $81.36 billion, a PE ratio of 45.98 and a beta of 0.74. Arthur J. Gallagher & Co. has a 1 year low of $257.58 and a 1 year high of $351.23. The stock's 50 day simple moving average is $329.57 and its 200-day simple moving average is $318.73. The company has a current ratio of 1.44, a quick ratio of 1.44 and a debt-to-equity ratio of 0.56.

Arthur J. Gallagher & Co. (NYSE:AJG - Get Free Report) last issued its earnings results on Thursday, May 1st. The financial services provider reported $3.67 earnings per share for the quarter, beating the consensus estimate of $3.57 by $0.10. The business had revenue of $3.69 billion for the quarter, compared to analyst estimates of $3.85 billion. Arthur J. Gallagher & Co. had a net margin of 14.39% and a return on equity of 14.83%. The firm's revenue was up 14.5% on a year-over-year basis. During the same period in the previous year, the business earned $3.45 EPS. Sell-side analysts forecast that Arthur J. Gallagher & Co. will post 11.54 EPS for the current year.

Arthur J. Gallagher & Co. Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 20th. Investors of record on Friday, June 6th were paid a $0.65 dividend. This represents a $2.60 annualized dividend and a yield of 0.82%. The ex-dividend date was Friday, June 6th. Arthur J. Gallagher & Co.'s dividend payout ratio is 37.63%.

Arthur J. Gallagher & Co. Profile

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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