Arthur J. Gallagher & Co. (NYSE:AJG) Shares Bought by DNB Asset Management AS

DNB Asset Management AS boosted its holdings in shares of Arthur J. Gallagher & Co. (NYSE:AJG) by 6.8% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 35,473 shares of the financial services provider’s stock after buying an additional 2,246 shares during the period. DNB Asset Management AS’s holdings in Arthur J. Gallagher & Co. were worth $9,199,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in the business. Pinnacle Bancorp Inc. grew its stake in Arthur J. Gallagher & Co. by 14.3% during the 4th quarter. Pinnacle Bancorp Inc. now owns 343 shares of the financial services provider’s stock valued at $77,000 after purchasing an additional 43 shares during the last quarter. Forte Capital LLC ADV grew its stake in Arthur J. Gallagher & Co. by 1.9% during the 4th quarter. Forte Capital LLC ADV now owns 2,395 shares of the financial services provider’s stock valued at $539,000 after purchasing an additional 44 shares during the last quarter. J.W. Cole Advisors Inc. grew its stake in Arthur J. Gallagher & Co. by 4.7% during the 1st quarter. J.W. Cole Advisors Inc. now owns 983 shares of the financial services provider’s stock valued at $246,000 after purchasing an additional 44 shares during the last quarter. Cambridge Trust Co. grew its stake in Arthur J. Gallagher & Co. by 5.1% during the 4th quarter. Cambridge Trust Co. now owns 969 shares of the financial services provider’s stock valued at $218,000 after purchasing an additional 47 shares during the last quarter. Finally, ERn Financial LLC grew its stake in Arthur J. Gallagher & Co. by 1.9% during the 1st quarter. ERn Financial LLC now owns 2,542 shares of the financial services provider’s stock valued at $636,000 after purchasing an additional 47 shares during the last quarter. 85.53% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

AJG has been the subject of a number of analyst reports. Keefe, Bruyette & Woods boosted their price target on Arthur J. Gallagher & Co. from $241.00 to $252.00 and gave the company an “underperform” rating in a report on Friday, July 26th. Royal Bank of Canada lifted their target price on shares of Arthur J. Gallagher & Co. from $290.00 to $310.00 and gave the company an “outperform” rating in a report on Friday, July 26th. Bank Of America (Bofa) lifted their target price on shares of Arthur J. Gallagher & Co. from $255.00 to $265.00 and gave the company an “underperform” rating in a report on Friday, July 26th. Jefferies Financial Group lifted their target price on shares of Arthur J. Gallagher & Co. from $264.00 to $267.00 in a report on Friday, July 26th. Finally, Truist Financial lifted their target price on shares of Arthur J. Gallagher & Co. from $255.00 to $265.00 and gave the company a “hold” rating in a report on Friday, July 26th. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating and six have given a buy rating to the company. According to MarketBeat.com, Arthur J. Gallagher & Co. currently has a consensus rating of “Hold” and an average price target of $274.44.

Insiders Place Their Bets

In other Arthur J. Gallagher & Co. news, Director David S. Johnson sold 850 shares of the business’s stock in a transaction dated Wednesday, May 22nd. The shares were sold at an average price of $257.84, for a total transaction of $219,164.00. Following the sale, the director now directly owns 45,108 shares in the company, valued at $11,630,646.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director David S. Johnson sold 850 shares of the company’s stock in a transaction that occurred on Wednesday, May 22nd. The shares were sold at an average price of $257.84, for a total transaction of $219,164.00. Following the sale, the director now directly owns 45,108 shares in the company, valued at $11,630,646.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Douglas K. Howell sold 8,710 shares of the company’s stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $285.07, for a total transaction of $2,482,959.70. Following the sale, the chief financial officer now owns 75,963 shares in the company, valued at $21,654,772.41. The disclosure for this sale can be found here. Insiders have sold 68,210 shares of company stock worth $17,911,529 over the last three months. Company insiders own 1.60% of the company’s stock.

Arthur J. Gallagher & Co. Trading Up 1.1 %

NYSE AJG traded up $2.93 during trading hours on Tuesday, reaching $281.25. The company had a trading volume of 771,549 shares, compared to its average volume of 851,258. The stock has a 50-day moving average of $264.80 and a 200 day moving average of $250.80. Arthur J. Gallagher & Co. has a 1-year low of $215.37 and a 1-year high of $290.31. The company has a current ratio of 1.04, a quick ratio of 1.05 and a debt-to-equity ratio of 0.67. The stock has a market capitalization of $61.45 billion, a P/E ratio of 57.12, a price-to-earnings-growth ratio of 2.41 and a beta of 0.72.

Arthur J. Gallagher & Co. (NYSE:AJG) last issued its quarterly earnings results on Thursday, July 25th. The financial services provider reported $2.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.24 by $0.02. The company had revenue of $2.73 billion for the quarter, compared to analyst estimates of $2.77 billion. Arthur J. Gallagher & Co. had a net margin of 10.41% and a return on equity of 19.25%. The business’s revenue for the quarter was up 14.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.90 earnings per share. As a group, research analysts anticipate that Arthur J. Gallagher & Co. will post 10.15 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 20th. Shareholders of record on Friday, September 6th will be paid a dividend of $0.60 per share. The ex-dividend date of this dividend is Friday, September 6th. This represents a $2.40 dividend on an annualized basis and a yield of 0.85%. Arthur J. Gallagher & Co.’s dividend payout ratio (DPR) is presently 48.58%.

About Arthur J. Gallagher & Co.

Arthur J. Gallagher & Co, together with its subsidiaries, provides insurance and reinsurance brokerage, consulting, and third-party property/casualty claims settlement and administration services to entities and individuals worldwide. It operates in Brokerage and Risk Management segments. The Brokerage segment offers retail and wholesale insurance and reinsurance brokerage services; assists retail brokers and other non-affiliated brokers in the placement of specialized and hard-to-place insurance; and acts as a brokerage wholesaler, managing general agent, and managing general underwriter for distributing specialized insurance coverages to underwriting enterprises.