abrdn plc Boosts Holdings in Arthur J. Gallagher & Co. (NYSE:AJG)

abrdn plc increased its position in Arthur J. Gallagher & Co. (NYSE:AJG) by 21.0% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 71,836 shares of the financial services provider’s stock after purchasing an additional 12,488 shares during the quarter. abrdn plc’s holdings in Arthur J. Gallagher & Co. were worth $20,076,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in AJG. Janus Henderson Group PLC increased its position in shares of Arthur J. Gallagher & Co. by 180.6% during the first quarter. Janus Henderson Group PLC now owns 1,228,266 shares of the financial services provider’s stock worth $307,076,000 after acquiring an additional 790,467 shares during the last quarter. Capital International Investors increased its holdings 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 purchasing an additional 727,325 shares during the last quarter. The Manufacturers Life Insurance Company raised its position in shares of 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. Capital World Investors boosted its stake in shares of 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 valued at $1,208,208,000 after buying an additional 398,350 shares during the last quarter. Finally, International Assets Investment Management LLC grew its position in shares of Arthur J. Gallagher & Co. by 29,927.4% during the third quarter. International Assets Investment Management LLC now owns 232,412 shares of the financial services provider’s stock worth $65,394,000 after buying an additional 231,638 shares in the last quarter. Hedge funds and other institutional investors own 85.53% of the company’s stock.

Analyst Ratings Changes

AJG has been the topic of a number of research analyst reports. TD Cowen increased their price objective on shares of Arthur J. Gallagher & Co. from $273.00 to $288.00 and gave the company a “hold” rating in a research note on Tuesday, August 13th. Truist Financial lifted their price target on Arthur J. Gallagher & Co. from $265.00 to $275.00 and gave the stock a “hold” rating in a research note on Friday, September 20th. Wells Fargo & Company upped their price objective on Arthur J. Gallagher & Co. from $309.00 to $315.00 and gave the company an “overweight” rating in a research note on Thursday, October 10th. Bank of America lifted their target price on Arthur J. Gallagher & Co. from $271.00 to $293.00 and gave the stock an “underperform” rating in a research report on Thursday, October 10th. Finally, Barclays began coverage on Arthur J. Gallagher & Co. in a research note on Wednesday, September 4th. They set an “equal weight” rating and a $300.00 price objective on the stock. Three research analysts have rated the stock with a sell rating, seven have given a hold rating and four have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $287.00.

Insider Activity at Arthur J. Gallagher & Co.

In other news, President Thomas Joseph Gallagher sold 15,000 shares of the company’s stock in a transaction that occurred on 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 completion of the sale, the president now directly owns 329,099 shares of the company’s stock, valued at approximately $93,121,853.04. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other Arthur J. Gallagher & Co. news, VP Christopher E. Mead sold 2,800 shares of the business’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 sale, the vice president now directly owns 14,674 shares in the company, valued at approximately $4,211,438. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, President Thomas Joseph Gallagher sold 15,000 shares of the firm’s stock in a transaction dated 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 transaction, the president now owns 329,099 shares of the company’s stock, valued at approximately $93,121,853.04. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 38,900 shares of company stock worth $11,136,680 in the last 90 days. Corporate insiders own 1.60% of the company’s stock.

Arthur J. Gallagher & Co. Trading Down 1.2 %

Arthur J. Gallagher & Co. stock opened at $281.19 on Friday. Arthur J. Gallagher & Co. has a 52-week low of $218.63 and a 52-week high of $301.04. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.67. The firm has a market capitalization of $61.61 billion, a price-to-earnings ratio of 53.56, a PEG ratio of 2.53 and a beta of 0.72. The firm has a 50-day moving average price of $288.84 and a two-hundred day moving average price of $270.41.

Arthur J. Gallagher & Co. (NYSE:AJG) last issued its quarterly earnings data 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 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 return on equity of 19.25% and a net margin of 10.41%. The business’s revenue was up 12.8% on a year-over-year basis. During the same period in the previous year, the firm posted $2.00 earnings per share. Sell-side analysts expect that Arthur J. Gallagher & Co. will post 10.11 earnings per share for the current year.

Arthur J. Gallagher & Co. Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Friday, December 6th will be issued a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 0.85%. The ex-dividend date of this dividend is Friday, December 6th. Arthur J. Gallagher & Co.’s payout ratio is currently 45.71%.

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.