Tokio Marine Asset Management Co. Ltd. increased its stake in Arthur J. Gallagher & Co. (NYSE:AJG - Free Report) by 24.1% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,776 shares of the financial services provider's stock after purchasing an additional 1,508 shares during the period. Tokio Marine Asset Management Co. Ltd.'s holdings in Arthur J. Gallagher & Co. were worth $2,685,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors also recently bought and sold shares of AJG. JPMorgan Chase & Co. lifted its stake in shares of Arthur J. Gallagher & Co. by 38.3% in the 1st quarter. JPMorgan Chase & Co. now owns 17,372,745 shares of the financial services provider's stock valued at $5,997,767,000 after purchasing an additional 4,815,007 shares during the period. Capital World Investors increased its holdings in Arthur J. Gallagher & Co. by 30.4% in the 4th quarter. Capital World Investors now owns 8,199,413 shares of the financial services provider's stock worth $2,327,403,000 after acquiring an additional 1,910,471 shares in the last quarter. D. E. Shaw & Co. Inc. increased its holdings in Arthur J. Gallagher & Co. by 1,511.2% in the 4th quarter. D. E. Shaw & Co. Inc. now owns 1,758,166 shares of the financial services provider's stock worth $499,055,000 after acquiring an additional 1,649,046 shares in the last quarter. Balyasny Asset Management L.P. grew its holdings in shares of Arthur J. Gallagher & Co. by 53,148.8% during the fourth quarter. Balyasny Asset Management L.P. now owns 1,319,505 shares of the financial services provider's stock worth $374,541,000 after buying an additional 1,317,027 shares in the last quarter. Finally, Ghisallo Capital Management LLC purchased a new stake in shares of Arthur J. Gallagher & Co. during the fourth quarter worth $269,658,000. 85.53% of the stock is currently owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
A number of equities research analysts have recently issued reports on AJG shares. Citigroup started coverage on shares of Arthur J. Gallagher & Co. in a report on Wednesday, August 13th. They set a "neutral" rating and a $317.00 target price for the company. Cantor Fitzgerald raised shares of Arthur J. Gallagher & Co. to a "strong-buy" rating in a report on Wednesday, August 13th. Piper Sandler upped their target price on shares of Arthur J. Gallagher & Co. from $352.00 to $372.00 and gave the stock an "overweight" rating in a report on Friday, August 1st. Barclays dropped their target price on shares of Arthur J. Gallagher & Co. from $346.00 to $327.00 and set an "equal weight" rating for the company in a report on Monday, July 7th. Finally, Keefe, Bruyette & Woods boosted their price target on shares of 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. Two analysts have rated the stock with a sell rating, nine have issued a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Arthur J. Gallagher & Co. currently has a consensus rating of "Hold" and a consensus target price of $331.07.
Get Our Latest Analysis on Arthur J. Gallagher & Co.
Insider Activity
In other news, VP Scott R. Hudson sold 10,500 shares of the stock in a transaction dated Wednesday, May 21st. The shares were sold at an average price of $337.17, for a total transaction of $3,540,285.00. Following the sale, the vice president owned 91,175 shares of the company's stock, valued at approximately $30,741,474.75. This represents a 10.33% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 1.60% of the company's stock.
Arthur J. Gallagher & Co. Trading Up 0.7%
NYSE AJG traded up $1.94 during trading hours on Monday, reaching $294.66. The company had a trading volume of 1,376,338 shares, compared to its average volume of 1,549,346. The stock has a 50-day moving average of $308.01 and a 200 day moving average of $322.75. Arthur J. Gallagher & Co. has a 1-year low of $274.25 and a 1-year high of $351.23. The company has a current ratio of 1.36, a quick ratio of 1.36 and a debt-to-equity ratio of 0.52. The stock has a market capitalization of $75.55 billion, a P/E ratio of 41.86 and a beta of 0.68.
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 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 period in the previous year, the company earned $2.29 EPS. The company's quarterly revenue was up 16.0% compared to the same quarter last year. As a group, research analysts anticipate that Arthur J. Gallagher & Co. will post 11.54 earnings per share for the current fiscal year.
Arthur J. Gallagher & Co. Announces Dividend
The firm also recently declared 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. This represents a $2.60 annualized dividend and a dividend yield of 0.9%. The ex-dividend date of this dividend is Friday, September 5th. Arthur J. Gallagher & Co.'s dividend payout ratio is currently 36.93%.
About Arthur J. Gallagher & Co.
(
Free Report)
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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