Sumitomo Mitsui DS Asset Management Company Ltd Purchases 522 Shares of Arthur J. Gallagher & Co. (NYSE:AJG)

Sumitomo Mitsui DS Asset Management Company Ltd increased its position in shares of Arthur J. Gallagher & Co. (NYSE:AJG) by 2.4% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 22,722 shares of the financial services provider’s stock after acquiring an additional 522 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Arthur J. Gallagher & Co. were worth $6,393,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Capital International Investors grew its position in Arthur J. Gallagher & Co. by 7.0% during the 1st quarter. Capital International Investors now owns 11,050,941 shares of the financial services provider’s stock worth $2,763,177,000 after acquiring an additional 727,325 shares during the last quarter. Capital World Investors grew its position in Arthur J. Gallagher & Co. by 9.0% during the 1st quarter. Capital World Investors now owns 4,832,060 shares of the financial services provider’s stock worth $1,208,208,000 after acquiring an additional 398,350 shares during the last quarter. Legal & General Group Plc grew its position in Arthur J. Gallagher & Co. by 2.7% during the 2nd quarter. Legal & General Group Plc now owns 1,640,938 shares of the financial services provider’s stock worth $425,511,000 after acquiring an additional 42,841 shares during the last quarter. Boston Partners grew its position in Arthur J. Gallagher & Co. by 2.5% during the 1st quarter. Boston Partners now owns 1,611,299 shares of the financial services provider’s stock worth $402,206,000 after acquiring an additional 38,886 shares during the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. grew its position in shares of Arthur J. Gallagher & Co. by 5.3% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,567,867 shares of the financial services provider’s stock valued at $392,029,000 after buying an additional 79,271 shares during the last quarter. Institutional investors own 85.53% of the company’s stock.

Insider Activity

In other news, President Michael Robert Pesch sold 7,100 shares of the company’s stock in a transaction that occurred on Friday, September 13th. The stock was 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 represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Arthur J. Gallagher & Co. news, CFO Douglas K. Howell sold 8,710 shares of the stock in a transaction 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 completion of the transaction, the chief financial officer now directly owns 75,963 shares of the company’s stock, valued at approximately $21,654,772.41. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, President Michael Robert Pesch sold 7,100 shares of the 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 of the company’s stock, valued at approximately $9,853,685.40. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 44,145 shares of company stock valued at $12,622,660 over the last three months. Corporate insiders own 1.60% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on AJG shares. Jefferies Financial Group upped their price target on Arthur J. Gallagher & Co. from $269.00 to $274.00 and gave the company a “hold” rating in a research report on Wednesday, October 9th. Bank of America upped their price target on Arthur J. Gallagher & Co. from $271.00 to $293.00 and gave the company an “underperform” rating in a research report on Thursday, October 10th. BMO Capital Markets upped their price target on Arthur J. Gallagher & Co. from $275.00 to $295.00 and gave the company an “outperform” rating in a research report on Friday, July 26th. Bank Of America (Bofa) upped their price target on Arthur J. Gallagher & Co. from $255.00 to $265.00 and gave the company an “underperform” rating in a research report on Friday, July 26th. Finally, Truist Financial upped their price target on Arthur J. Gallagher & Co. from $265.00 to $275.00 and gave the company a “hold” rating in a research report on Friday, September 20th. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, Arthur J. Gallagher & Co. presently has a consensus rating of “Hold” and a consensus price target of $287.00.

Arthur J. Gallagher & Co. Stock Down 0.5 %

AJG stock opened at $289.25 on Friday. The company has a market cap of $63.20 billion, a P/E ratio of 58.55, a price-to-earnings-growth ratio of 2.53 and a beta of 0.72. Arthur J. Gallagher & Co. has a fifty-two week low of $218.63 and a fifty-two week high of $301.04. The stock’s 50 day simple moving average is $288.84 and its 200 day simple moving average is $267.81. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.04 and a current ratio of 1.04.

Arthur J. Gallagher & Co. (NYSE:AJG) last issued its quarterly earnings data on Thursday, July 25th. The financial services provider reported $2.26 EPS for the quarter, topping the consensus estimate of $2.24 by $0.02. The firm had revenue of $2.73 billion during the quarter, compared to the consensus estimate of $2.77 billion. Arthur J. Gallagher & Co. had a return on equity of 19.25% and a net margin of 10.41%. The company’s quarterly revenue was up 14.3% compared to the same quarter last year. During the same period in the prior year, the business posted $1.90 earnings per share. On average, research analysts expect that Arthur J. Gallagher & Co. will post 10.11 earnings per share for the current fiscal year.

Arthur J. Gallagher & Co. Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 20th. Stockholders of record on Friday, September 6th were issued a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 0.83%. The ex-dividend date of this dividend was Friday, September 6th. Arthur J. Gallagher & Co.’s dividend payout ratio is presently 48.58%.

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.