Czech National Bank raised its stake in shares of Arthur J. Gallagher & Co. (NYSE:AJG - Free Report) by 21.3% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 54,162 shares of the financial services provider's stock after buying an additional 9,529 shares during the quarter. Czech National Bank's holdings in Arthur J. Gallagher & Co. were worth $15,374,000 at the end of the most recent reporting period.
Other institutional investors also recently made changes to their positions in the company. The Manufacturers Life Insurance Company lifted its holdings in Arthur J. Gallagher & Co. by 219.6% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 1,043,769 shares of the financial services provider's stock valued at $270,660,000 after purchasing an additional 717,221 shares in the last quarter. Principal Financial Group Inc. lifted its stake in shares of Arthur J. Gallagher & Co. by 231.2% during the third quarter. Principal Financial Group Inc. now owns 885,796 shares of the financial services provider's stock valued at $249,237,000 after buying an additional 618,362 shares during the period. FMR LLC boosted its position in Arthur J. Gallagher & Co. by 4.9% during the third quarter. FMR LLC now owns 12,305,478 shares of the financial services provider's stock worth $3,462,392,000 after acquiring an additional 580,134 shares during the last quarter. Massachusetts Financial Services Co. MA increased its stake in Arthur J. Gallagher & Co. by 13.6% in the third quarter. Massachusetts Financial Services Co. MA now owns 3,196,992 shares of the financial services provider's stock valued at $899,538,000 after purchasing an additional 383,130 shares during the last quarter. Finally, Nomura Asset Management Co. Ltd. increased its stake in shares of Arthur J. Gallagher & Co. by 431.9% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 323,880 shares of the financial services provider's stock valued at $91,130,000 after acquiring an additional 262,987 shares during the last quarter. 85.53% of the stock is owned by institutional investors and hedge funds.
Arthur J. Gallagher & Co. Stock Performance
Shares of AJG traded up $2.98 during midday trading on Tuesday, hitting $288.79. 1,284,593 shares of the stock traded hands, compared to its average volume of 2,359,459. 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 $227.08 and a 1-year high of $316.72. The business's 50 day moving average price is $291.88 and its two-hundred day moving average price is $286.33. The firm has a market capitalization of $72.14 billion, a PE ratio of 55.01, a price-to-earnings-growth ratio of 2.41 and a beta of 0.76.
Arthur J. Gallagher & Co. (NYSE:AJG - Get Free Report) last released its quarterly earnings results on Thursday, October 24th. The financial services provider reported $2.26 earnings per share (EPS) for the quarter, hitting the consensus estimate of $2.26. The company had revenue of $2.77 billion during the quarter, compared to analysts' expectations of $2.78 billion. Arthur J. Gallagher & Co. had a return on equity of 19.12% and a net margin of 10.40%. The company's revenue for the quarter was up 12.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.00 earnings per share. Equities research analysts predict that Arthur J. Gallagher & Co. will post 10.12 EPS for the current fiscal year.
Arthur J. Gallagher & Co. Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Friday, December 20th. Investors of record on Friday, December 6th were paid a dividend of $0.60 per share. The ex-dividend date of this dividend was Friday, December 6th. This represents a $2.40 annualized dividend and a yield of 0.83%. Arthur J. Gallagher & Co.'s dividend payout ratio is currently 45.71%.
Wall Street Analyst Weigh In
AJG has been the topic of a number of research analyst reports. Piper Sandler upgraded shares of Arthur J. Gallagher & Co. from a "neutral" rating to an "overweight" rating and lifted their price target for the company from $285.00 to $315.00 in a report on Wednesday, January 8th. Barclays upped their price target on Arthur J. Gallagher & Co. from $300.00 to $308.00 and gave the stock an "equal weight" rating in a research note on Thursday, November 21st. BMO Capital Markets lifted their price objective on Arthur J. Gallagher & Co. from $312.00 to $325.00 and gave the company an "outperform" rating in a research note on Tuesday, November 12th. Jefferies Financial Group increased their target price on shares of Arthur J. Gallagher & Co. from $269.00 to $274.00 and gave the stock a "hold" rating in a research report on Wednesday, October 9th. Finally, Bank of America boosted their price objective on shares of Arthur J. Gallagher & Co. from $271.00 to $293.00 and gave the stock an "underperform" rating in a research note on Thursday, October 10th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and six have assigned a buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Hold" and an average target price of $304.07.
Check Out Our Latest Research Report on AJG
Insider Buying and Selling
In other Arthur J. Gallagher & Co. news, CFO Douglas K. Howell sold 7,000 shares of the business's stock in a transaction on Monday, October 28th. The shares were sold at an average price of $284.70, for a total transaction of $1,992,900.00. Following the sale, the chief financial officer now directly owns 75,963 shares of the company's stock, valued at $21,626,666.10. The trade was a 8.44 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Christopher E. Mead sold 2,800 shares of the stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $287.00, for a total value of $803,600.00. Following the completion of the sale, the vice president now directly owns 14,674 shares of the company's stock, valued at approximately $4,211,438. This represents a 16.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.60% of the stock is owned by corporate insiders.
Arthur J. Gallagher & Co. Profile
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Free Report)
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.
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