Resona Asset Management Co. Ltd. Has $34.60 Million Stake in Arthur J. Gallagher & Co. (NYSE:AJG)

Key Points

• Resona Asset Management Co. Ltd. increased its holdings in Arthur J. Gallagher & Co. by 5.0% in Q1, now owning 100,388 shares worth about $34.6 million.
• Analysts are mixed on the stock, with a consensus rating of "Hold" and a target price of $329.15, while Barclays lowered its target to $327.00.
• Arthur J. Gallagher recently declared a quarterly dividend of $0.65, resulting in an annual yield of 0.9% and a payout ratio of 36.93%.

Resona Asset Management Co. Ltd. grew its stake in Arthur J. Gallagher & Co. (NYSE:AJG - Free Report) by 5.0% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 100,388 shares of the financial services provider's stock after purchasing an additional 4,742 shares during the period. Resona Asset Management Co. Ltd.'s holdings in Arthur J. Gallagher & Co. were worth $34,603,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of AJG. CWA Asset Management Group LLC increased its stake in Arthur J. Gallagher & Co. by 22.5% in the first quarter. CWA Asset Management Group LLC now owns 1,125 shares of the financial services provider's stock worth $388,000 after purchasing an additional 207 shares during the period. Two Sigma Investments LP bought a new position in shares of Arthur J. Gallagher & Co. during the 4th quarter worth $382,000. Golden State Wealth Management LLC grew its position in shares of Arthur J. Gallagher & Co. by 2,750.0% during the 1st quarter. Golden State Wealth Management LLC now owns 114 shares of the financial services provider's stock worth $39,000 after buying an additional 110 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its position in Arthur J. Gallagher & Co. by 0.7% during the first quarter. Allspring Global Investments Holdings LLC now owns 11,280 shares of the financial services provider's stock valued at $3,879,000 after purchasing an additional 82 shares in the last quarter. Finally, Seven Grand Managers LLC bought a new stake in Arthur J. Gallagher & Co. during the fourth quarter valued at about $7,096,000. Hedge funds and other institutional investors own 85.53% of the company's stock.

Arthur J. Gallagher & Co. Stock Down 0.3%

NYSE:AJG traded down $0.79 during mid-day trading on Friday, reaching $292.62. The stock had a trading volume of 1,237,379 shares, compared to its average volume of 1,665,758. The company has a market capitalization of $75.03 billion, a price-to-earnings ratio of 41.57 and a beta of 0.68. Arthur J. Gallagher & Co. has a 1-year low of $274.25 and a 1-year high of $351.23. The stock's 50 day simple moving average is $308.01 and its two-hundred day simple moving average is $322.39. 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. (NYSE:AJG - Get Free Report) last issued its earnings results on Thursday, July 31st. The financial services provider reported $2.33 EPS for the quarter, missing analysts' consensus estimates of $2.36 by ($0.03). Arthur J. Gallagher & Co. had a net margin of 14.54% and a return on equity of 13.17%. The company had revenue of $3.18 billion during the quarter, compared to analyst estimates of $3.20 billion. During the same quarter in the previous year, the firm earned $2.29 earnings per share. The business's revenue was up 16.0% on a year-over-year basis. Equities analysts anticipate that Arthur J. Gallagher & Co. will post 11.54 EPS for the current year.

Arthur J. Gallagher & Co. Dividend Announcement

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

Insider Activity at Arthur J. Gallagher & Co.

In related news, insider Susan E. Pietrucha sold 13,500 shares of the business's stock in a transaction that occurred on Monday, May 19th. The stock was sold at an average price of $344.13, for a total transaction of $4,645,755.00. Following the sale, the insider owned 11,941 shares of the company's stock, valued at $4,109,256.33. The trade was a 53.06% 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 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 sale, the vice president directly owned 91,175 shares in the company, valued at approximately $30,741,474.75. The trade was a 10.33% decrease in their position. The disclosure for this sale can be found here. Insiders own 1.60% of the company's stock.

Analysts Set New Price Targets

A number of research firms have commented on AJG. Erste Group Bank reiterated a "hold" rating on shares of Arthur J. Gallagher & Co. in a research note on Wednesday, July 23rd. Keefe, Bruyette & Woods lifted their price target on Arthur J. Gallagher & Co. from $326.00 to $330.00 and gave the company a "market perform" rating in a research report on Wednesday, July 9th. Wells Fargo & Company raised their price objective on Arthur J. Gallagher & Co. from $371.00 to $373.00 and gave the company an "overweight" rating in a report on Friday, August 1st. Wall Street Zen lowered Arthur J. Gallagher & Co. from a "hold" rating to a "sell" rating in a report on Saturday, August 9th. Finally, Barclays lowered their price target on Arthur J. Gallagher & Co. from $346.00 to $327.00 and set an "equal weight" rating on the stock in a research note on Monday, July 7th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Arthur J. Gallagher & Co. currently has an average rating of "Hold" and an average target price of $331.07.

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.