Nykredit A S Takes $20.51 Million Position in Arthur J. Gallagher & Co. $AJG

Key Points

• Nykredit A/S acquired an approximately $20.5 million stake in Arthur J. Gallagher & Co. during the second quarter, while institutional investors collectively own 85.53% of the company.
• Analysts remain broadly positive, with 14 Buy ratings and five Holds producing a “Moderate Buy” consensus and an average price target of $290.28.
• Arthur J. Gallagher reported quarterly EPS of $2.84, slightly above estimates, while revenue rose 24.3% year over year. The company also declared a quarterly dividend of $0.70 per share, representing a 1.1% yield.

Nykredit A S bought a new position in shares of Arthur J. Gallagher & Co. (NYSE:AJG - Free Report) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 89,335 shares of the financial services provider's stock, valued at approximately $20,509,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of AJG. Tranquilli Financial Advisor LLC purchased a new stake in Arthur J. Gallagher & Co. during the 2nd quarter worth approximately $213,000. B. Metzler seel. Sohn & Co. AG boosted its stake in shares of Arthur J. Gallagher & Co. by 52.6% during the 2nd quarter. B. Metzler seel. Sohn & Co. AG now owns 19,123 shares of the financial services provider's stock valued at $4,390,000 after buying an additional 6,594 shares during the last quarter. Natural Investments LLC grew its position in shares of Arthur J. Gallagher & Co. by 27.2% during the second quarter. Natural Investments LLC now owns 1,216 shares of the financial services provider's stock worth $279,000 after buying an additional 260 shares in the last quarter. Moore Capital Management LP bought a new stake in shares of Arthur J. Gallagher & Co. in the second quarter worth $4,248,000. Finally, Sigma Planning Corp acquired a new stake in Arthur J. Gallagher & Co. in the second quarter valued at $329,000. Hedge funds and other institutional investors own 85.53% of the company's stock.

Analysts Set New Price Targets

Several brokerages have weighed in on AJG. Royal Bank Of Canada raised their price objective on shares of Arthur J. Gallagher & Co. from $300.00 to $310.00 and gave the stock an "outperform" rating in a report on Friday, July 31st. Argus increased their price target on shares of Arthur J. Gallagher & Co. from $267.00 to $300.00 and gave the stock a "buy" rating in a research report on Monday, August 17th. Keefe, Bruyette & Woods lifted their price target on Arthur J. Gallagher & Co. from $261.00 to $271.00 and gave the stock a "market perform" rating in a research note on Friday, July 31st. Cantor Fitzgerald boosted their price objective on Arthur J. Gallagher & Co. from $285.00 to $300.00 and gave the company a "neutral" rating in a report on Thursday, July 9th. Finally, Piper Sandler increased their target price on Arthur J. Gallagher & Co. from $276.00 to $287.00 and gave the stock an "overweight" rating in a report on Friday, July 31st. Fourteen analysts have rated the stock with a Buy rating and five have given a Hold rating to the company's stock. According to MarketBeat, Arthur J. Gallagher & Co. presently has an average rating of "Moderate Buy" and an average target price of $290.28.

Insider Buying and Selling

In related news, VP Christopher Mead sold 3,500 shares of the firm's stock in a transaction that occurred on Wednesday, August 19th. The stock was sold at an average price of $257.02, for a total value of $899,570.00. Following the sale, the vice president 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 position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, General Counsel Walter Bay sold 12,000 shares of the business's stock in a transaction that occurred on Monday, August 24th. The shares were sold at an average price of $270.08, for a total value of $3,240,960.00. Following the transaction, the general counsel owned 71,292 shares of the company's stock, valued at $19,254,543.36. This represents a 14.41% decrease in their position. The SEC filing for this sale provides additional information. 1.40% of the stock is currently owned by corporate insiders.

Arthur J. Gallagher & Co. Stock Up 0.8%

Shares of NYSE:AJG opened at $266.50 on Friday. The company's fifty day moving average is $253.45 and its two-hundred day moving average is $227.42. 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. has a 1-year low of $190.75 and a 1-year high of $313.55. The stock has a market capitalization of $68.30 billion, a price-to-earnings ratio of 44.20, a price-to-earnings-growth ratio of 1.60 and a beta of 0.50.

Arthur J. Gallagher & Co. (NYSE:AJG - Get Free Report) last posted its quarterly earnings results on Thursday, July 30th. The financial services provider reported $2.84 EPS for the quarter, beating the consensus estimate of $2.81 by $0.03. The business had revenue of $3.95 billion during the quarter, compared to analyst estimates of $4.01 billion. Arthur J. Gallagher & Co. had a net margin of 9.96% and a return on equity of 13.28%. The company's quarterly revenue was up 24.3% on a year-over-year basis. During the same period in the previous year, the business posted $2.33 EPS. Equities analysts anticipate that Arthur J. Gallagher & Co. will post 13.28 EPS 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. Stockholders of record on Tuesday, September 8th will be given a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date is Tuesday, September 8th. Arthur J. Gallagher & Co.'s dividend payout ratio is presently 46.43%.

Arthur J. Gallagher & Co. Company Profile

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.

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.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source