Principal Financial Group Inc. Has $249.24 Million Stock Holdings in Arthur J. Gallagher & Co. (NYSE:AJG)

Principal Financial Group Inc. raised its holdings in shares of Arthur J. Gallagher & Co. (NYSE:AJG - Free Report) by 231.2% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 885,796 shares of the financial services provider's stock after purchasing an additional 618,362 shares during the period. Principal Financial Group Inc. owned 0.41% of Arthur J. Gallagher & Co. worth $249,237,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of AJG. Central Pacific Bank Trust Division acquired a new stake in shares of Arthur J. Gallagher & Co. during the first quarter worth $68,000. Sciencast Management LP bought a new stake in shares of Arthur J. Gallagher & Co. in the 1st quarter valued at about $358,000. AIA Group Ltd boosted its stake in Arthur J. Gallagher & Co. by 58.9% during the 1st quarter. AIA Group Ltd now owns 6,869 shares of the financial services provider's stock worth $1,718,000 after acquiring an additional 2,546 shares during the last quarter. Empowered Funds LLC grew its holdings in Arthur J. Gallagher & Co. by 19.1% during the first quarter. Empowered Funds LLC now owns 3,222 shares of the financial services provider's stock valued at $806,000 after purchasing an additional 516 shares during the period. Finally, Brooklyn Investment Group bought a new stake in Arthur J. Gallagher & Co. in the first quarter valued at approximately $246,000. Institutional investors own 85.53% of the company's stock.

Insider Activity at Arthur J. Gallagher & Co.

In other Arthur J. Gallagher & Co. news, President Michael Robert Pesch sold 7,100 shares of the company's stock in a transaction 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 transaction, the president now directly owns 33,267 shares in the company, valued at $9,853,685.40. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, VP Christopher E. Mead sold 2,800 shares of the company's stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $287.00, for a total value of $803,600.00. Following the transaction, the vice president now directly owns 14,674 shares in the company, valued at approximately $4,211,438. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, President Michael Robert Pesch sold 7,100 shares of Arthur J. Gallagher & Co. stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $296.20, for a total transaction of $2,103,020.00. Following the completion of the sale, the president now owns 33,267 shares of the company's stock, valued at $9,853,685.40. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 23,900 shares of company stock worth $6,892,280. Company insiders own 1.60% of the company's stock.

Analysts Set New Price Targets

AJG has been the topic of a number of recent analyst reports. Bank Of America (Bofa) lifted their price target on shares of Arthur J. Gallagher & Co. from $255.00 to $265.00 and gave the stock an "underperform" rating in a research report on Friday, July 26th. Barclays began coverage on Arthur J. Gallagher & Co. in a research report on Wednesday, September 4th. They set an "equal weight" rating and a $300.00 price target on the stock. Keefe, Bruyette & Woods increased their target price on Arthur J. Gallagher & Co. from $241.00 to $252.00 and gave the stock an "underperform" rating in a research note on Friday, July 26th. Jefferies Financial Group lifted 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. Finally, TD Cowen increased their price objective on shares of Arthur J. Gallagher & Co. from $273.00 to $288.00 and gave the stock a "hold" rating in a research report on Tuesday, August 13th. Three analysts have rated the stock with a sell rating, seven have given a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $287.00.

Arthur J. Gallagher & Co. Stock Performance

AJG stock traded up $4.52 during trading hours on Friday, reaching $295.08. The stock had a trading volume of 372,616 shares, compared to its average volume of 844,849. The stock has a 50-day simple moving average of $288.45 and a 200 day simple moving average of $272.10. Arthur J. Gallagher & Co. has a fifty-two week low of $218.63 and a fifty-two week high of $301.04. The stock has a market capitalization of $64.74 billion, a PE ratio of 56.29, a price-to-earnings-growth ratio of 2.40 and a beta of 0.72. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.06 and a quick ratio of 1.06.

Arthur J. Gallagher & Co. (NYSE:AJG - Get Free Report) last issued its earnings results on Thursday, October 24th. The financial services provider reported $2.26 earnings per share (EPS) for the quarter, meeting the consensus estimate of $2.26. The business had revenue of $2.77 billion during the quarter, compared to the consensus estimate of $2.78 billion. Arthur J. Gallagher & Co. had a net margin of 10.40% and a return on equity of 19.12%. Arthur J. Gallagher & Co.'s revenue was up 12.8% on a year-over-year basis. During the same period last year, the business posted $2.00 EPS. Analysts predict that Arthur J. Gallagher & Co. will post 10.11 EPS for the current fiscal year.

Arthur J. Gallagher & Co. Dividend Announcement

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

Arthur J. Gallagher & Co. 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.