Arthur J. Gallagher & Co. (NYSE:AJG) Shares Acquired by Erste Asset Management GmbH

Erste Asset Management GmbH lifted its position in Arthur J. Gallagher & Co. (NYSE:AJG - Free Report) by 11.5% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 32,000 shares of the financial services provider's stock after buying an additional 3,300 shares during the period. Erste Asset Management GmbH's holdings in Arthur J. Gallagher & Co. were worth $9,169,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Valley National Advisers Inc. purchased a new position in shares of Arthur J. Gallagher & Co. in the 4th quarter worth $25,000. Pin Oak Investment Advisors Inc. raised its holdings in Arthur J. Gallagher & Co. by 543.8% in the 3rd quarter. Pin Oak Investment Advisors Inc. now owns 103 shares of the financial services provider's stock worth $28,000 after purchasing an additional 87 shares during the period. E Fund Management Hong Kong Co. Ltd. bought a new position in Arthur J. Gallagher & Co. in the 4th quarter worth $35,000. Financial Life Planners bought a new position in Arthur J. Gallagher & Co. in the 4th quarter worth $36,000. Finally, OFI Invest Asset Management bought a new position in Arthur J. Gallagher & Co. in the 4th quarter worth $42,000. 85.53% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other Arthur J. Gallagher & Co. news, Director David S. Johnson sold 325 shares of the company's stock in a transaction on Wednesday, February 12th. The shares were sold at an average price of $322.06, for a total value of $104,669.50. Following the sale, the director now directly owns 44,783 shares of the company's stock, valued at approximately $14,422,812.98. This represents a 0.72 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Richard C. Cary sold 10,000 shares of the company's stock in a transaction on Monday, February 10th. The shares were sold at an average price of $322.99, for a total transaction of $3,229,900.00. Following the completion of the sale, the chief accounting officer now directly owns 69,774 shares in the company, valued at approximately $22,536,304.26. The trade was a 12.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 15,725 shares of company stock valued at $4,972,964 over the last ninety days. 1.60% of the stock is currently owned by insiders.

Remove Ads

Arthur J. Gallagher & Co. Trading Up 0.2 %

Shares of Arthur J. Gallagher & Co. stock traded up $0.62 on Tuesday, hitting $329.76. 1,422,393 shares of the company traded hands, compared to its average volume of 1,138,653. The company has a market cap of $83.99 billion, a PE ratio of 50.58 and a beta of 0.75. Arthur J. Gallagher & Co. has a 52 week low of $230.08 and a 52 week high of $361.21. The company has a current ratio of 1.51, a quick ratio of 1.51 and a debt-to-equity ratio of 0.63. The stock's 50 day moving average price is $313.21 and its 200-day moving average price is $298.48.

Arthur J. Gallagher & Co. (NYSE:AJG - Get Free Report) last issued its quarterly earnings results on Thursday, January 30th. The financial services provider reported $2.13 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.03 by $0.10. Arthur J. Gallagher & Co. had a return on equity of 16.47% and a net margin of 12.70%. Equities research analysts predict that Arthur J. Gallagher & Co. will post 11.54 EPS for the current year.

Arthur J. Gallagher & Co. Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 21st. Stockholders of record on Friday, March 7th will be issued a dividend of $0.65 per share. The ex-dividend date is Friday, March 7th. This is a positive change from Arthur J. Gallagher & Co.'s previous quarterly dividend of $0.60. This represents a $2.60 dividend on an annualized basis and a dividend yield of 0.79%. Arthur J. Gallagher & Co.'s payout ratio is 39.88%.

Wall Street Analysts Forecast Growth

AJG has been the topic of a number of recent research reports. TD Cowen raised Arthur J. Gallagher & Co. from a "hold" rating to a "buy" rating and raised their target price for the stock from $295.00 to $377.00 in a report on Friday, January 10th. Keefe, Bruyette & Woods raised their target price on Arthur J. Gallagher & Co. from $295.00 to $308.00 and gave the stock a "market perform" rating in a report on Wednesday, March 5th. Barclays raised their price target on Arthur J. Gallagher & Co. from $300.00 to $308.00 and gave the company an "equal weight" rating in a report on Thursday, November 21st. The Goldman Sachs Group cut Arthur J. Gallagher & Co. from a "buy" rating to a "neutral" rating and set a $313.00 price target on the stock. in a report on Monday, November 25th. Finally, Wells Fargo & Company decreased their price target on Arthur J. Gallagher & Co. from $344.00 to $341.00 and set an "overweight" rating on the stock in a report on Friday, January 31st. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, Arthur J. Gallagher & Co. currently has an average rating of "Hold" and an average price target of $307.93.

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 business segments: Brokerage, Risk Management, and Corporate. The Brokerage segment consists of retail and wholesale insurance brokerage operations.