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

CIBC Asset Management Inc boosted its position in shares of Arthur J. Gallagher & Co. (NYSE:AJG - Free Report) by 5.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 43,116 shares of the financial services provider's stock after buying an additional 2,190 shares during the period. CIBC Asset Management Inc's holdings in Arthur J. Gallagher & Co. were worth $12,132,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Tokio Marine Asset Management Co. Ltd. boosted its holdings in shares of Arthur J. Gallagher & Co. by 12.8% during the 3rd quarter. Tokio Marine Asset Management Co. Ltd. now owns 6,268 shares of the financial services provider's stock worth $1,764,000 after purchasing an additional 709 shares during the last quarter. Metis Global Partners LLC boosted its stake in Arthur J. Gallagher & Co. by 17.9% during the third quarter. Metis Global Partners LLC now owns 9,389 shares of the financial services provider's stock worth $2,642,000 after buying an additional 1,426 shares during the last quarter. Curi RMB Capital LLC grew its holdings in Arthur J. Gallagher & Co. by 13.9% in the 3rd quarter. Curi RMB Capital LLC now owns 3,501 shares of the financial services provider's stock valued at $985,000 after buying an additional 427 shares in the last quarter. KBC Group NV raised its holdings in shares of Arthur J. Gallagher & Co. by 36.6% during the 3rd quarter. KBC Group NV now owns 198,368 shares of the financial services provider's stock worth $55,815,000 after acquiring an additional 53,106 shares during the period. Finally, Huntington National Bank boosted its position in shares of Arthur J. Gallagher & Co. by 10.6% during the 3rd quarter. Huntington National Bank now owns 1,500 shares of the financial services provider's stock valued at $422,000 after acquiring an additional 144 shares during the last quarter. 85.53% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, VP Christopher E. Mead sold 2,800 shares of the firm's stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $287.00, for a total transaction of $803,600.00. Following the sale, the vice president now owns 14,674 shares of the company's stock, valued at approximately $4,211,438. This trade represents a 16.02 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, President Michael Robert Pesch sold 7,100 shares of the company's stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $296.20, for a total value of $2,103,020.00. Following the completion of the transaction, the president now directly owns 33,267 shares of the company's stock, valued at $9,853,685.40. This trade represents a 17.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 23,900 shares of company stock worth $6,892,280. 1.60% of the stock is currently owned by corporate insiders.

Arthur J. Gallagher & Co. Stock Down 0.0 %

Shares of Arthur J. Gallagher & Co. stock traded down $0.13 during trading hours on Friday, reaching $294.58. 948,405 shares of the company were exchanged, compared to its average volume of 819,487. The firm has a market cap of $64.63 billion, a PE ratio of 56.11, a PEG ratio of 2.51 and a beta of 0.72. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.06 and a current ratio of 1.06. Arthur J. Gallagher & Co. has a 1 year low of $218.63 and a 1 year high of $301.04. The stock's fifty day moving average is $288.49 and its 200 day moving average is $274.96.

Arthur J. Gallagher & Co. (NYSE:AJG - Get Free Report) last posted its quarterly earnings results on Thursday, October 24th. The financial services provider reported $2.26 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $2.26. Arthur J. Gallagher & Co. had a return on equity of 19.12% and a net margin of 10.40%. The company had revenue of $2.77 billion for the quarter, compared to analyst estimates of $2.78 billion. During the same quarter last year, the company earned $2.00 EPS. Arthur J. Gallagher & Co.'s revenue for the quarter was up 12.8% compared to the same quarter last year. As a group, equities research analysts forecast that Arthur J. Gallagher & Co. will post 10.11 earnings per share for the current year.

Arthur J. Gallagher & Co. Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Friday, December 6th will be issued a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 0.81%. The ex-dividend date of this dividend is Friday, December 6th. Arthur J. Gallagher & Co.'s dividend payout ratio (DPR) is presently 45.71%.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on AJG. Piper Sandler increased their price target on shares of Arthur J. Gallagher & Co. from $254.00 to $293.00 and gave the company a "neutral" rating in a research note on Friday, September 20th. Bank Of America (Bofa) increased their price target on Arthur J. Gallagher & Co. from $255.00 to $265.00 and gave the stock an "underperform" rating in a report on Friday, July 26th. Truist Financial boosted their price objective on shares of Arthur J. Gallagher & Co. from $265.00 to $275.00 and gave the company a "hold" rating in a report on Friday, September 20th. Royal Bank of Canada increased their target price on shares of Arthur J. Gallagher & Co. from $310.00 to $320.00 and gave the stock an "outperform" rating in a research note on Friday, September 20th. Finally, Jefferies Financial Group boosted their price target on shares of Arthur J. Gallagher & Co. from $269.00 to $274.00 and gave the company a "hold" rating in a research note on Wednesday, October 9th. Three research analysts have rated the stock with a sell rating, seven have given a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $289.14.

Arthur J. Gallagher & Co. Company Profile

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.