DekaBank Deutsche Girozentrale Has $30.45 Million Stock Holdings in Arthur J. Gallagher & Co. (NYSE:AJG)

DekaBank Deutsche Girozentrale grew its stake in shares of Arthur J. Gallagher & Co. (NYSE:AJG) by 15.7% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 109,639 shares of the financial services provider’s stock after acquiring an additional 14,860 shares during the period. DekaBank Deutsche Girozentrale owned 0.05% of Arthur J. Gallagher & Co. worth $30,450,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Janus Henderson Group PLC increased its position in Arthur J. Gallagher & Co. by 180.6% in the 1st quarter. Janus Henderson Group PLC now owns 1,228,266 shares of the financial services provider’s stock worth $307,076,000 after purchasing an additional 790,467 shares during the last quarter. Capital International Investors increased its holdings in Arthur J. Gallagher & Co. by 7.0% in the first quarter. Capital International Investors now owns 11,050,941 shares of the financial services provider’s stock worth $2,763,177,000 after buying an additional 727,325 shares during the last quarter. The Manufacturers Life Insurance Company raised its position in Arthur J. Gallagher & Co. by 219.6% during the second 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 acquiring an additional 717,221 shares in the last quarter. Capital World Investors grew its position in Arthur J. Gallagher & Co. by 9.0% in the first 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 in the last quarter. Finally, International Assets Investment Management LLC increased its stake in shares of Arthur J. Gallagher & Co. by 29,927.4% during the 3rd quarter. International Assets Investment Management LLC now owns 232,412 shares of the financial services provider’s stock worth $65,394,000 after purchasing an additional 231,638 shares during the last quarter. 85.53% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the stock. Barclays began coverage on shares of Arthur J. Gallagher & Co. in a report on Wednesday, September 4th. They issued an “equal weight” rating and a $300.00 price objective for the company. Jefferies Financial Group increased their price objective on Arthur J. Gallagher & Co. from $269.00 to $274.00 and gave the company a “hold” rating in a report on Wednesday, October 9th. Keefe, Bruyette & Woods boosted their target price on Arthur J. Gallagher & Co. from $241.00 to $252.00 and gave the stock an “underperform” rating in a report on Friday, July 26th. Piper Sandler increased their price target on Arthur J. Gallagher & Co. from $254.00 to $293.00 and gave the company a “neutral” rating in a report on Friday, September 20th. Finally, Royal Bank of Canada boosted their price objective 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. Three investment 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. Based on data from MarketBeat, Arthur J. Gallagher & Co. presently has an average rating of “Hold” and a consensus price target of $287.00.

Arthur J. Gallagher & Co. Price Performance

Shares of Arthur J. Gallagher & Co. stock opened at $285.99 on Tuesday. The firm has a fifty day moving average price of $289.21 and a two-hundred day moving average price of $269.88. The company has a market cap of $62.49 billion, a PE ratio of 57.89, a price-to-earnings-growth ratio of 2.53 and a beta of 0.72. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.04 and a quick ratio of 1.04. Arthur J. Gallagher & Co. has a fifty-two week low of $218.63 and a fifty-two week high of $301.04.

Arthur J. Gallagher & Co. (NYSE:AJG) last issued its quarterly 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 firm had revenue of $2.77 billion for the quarter, compared to analyst estimates of $2.78 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 12.8% compared to the same quarter last year. During the same period in the previous year, the company posted $2.00 earnings per share. Analysts expect that Arthur J. Gallagher & Co. will post 10.11 EPS for the current year.

Arthur J. Gallagher & Co. Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Friday, December 6th will be paid a $0.60 dividend. The ex-dividend date is Friday, December 6th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 0.84%. Arthur J. Gallagher & Co.’s payout ratio is 48.58%.

Insider Buying and Selling

In related news, President Thomas Joseph Gallagher sold 15,000 shares of the company’s stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $282.96, for a total value of $4,244,400.00. Following the sale, the president now owns 329,099 shares of the company’s stock, valued at $93,121,853.04. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Arthur J. Gallagher & Co. news, President Thomas Joseph Gallagher sold 15,000 shares of Arthur J. Gallagher & Co. stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $282.96, for a total transaction of $4,244,400.00. Following the completion of the sale, the president now owns 329,099 shares of the company’s stock, valued at approximately $93,121,853.04. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Douglas K. Howell sold 7,000 shares of the stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $284.68, for a total value of $1,992,760.00. Following the completion of the transaction, the chief financial officer now directly owns 75,963 shares in the company, valued at approximately $21,625,146.84. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 37,810 shares of company stock valued at $10,823,140 over the last ninety days. 1.60% of the stock is owned by company insiders.

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.