Meiji Yasuda Asset Management Co Ltd. Has $1.76 Million Holdings in Arthur J. Gallagher & Co. (NYSE:AJG)

Meiji Yasuda Asset Management Co Ltd. increased its stake in shares of Arthur J. Gallagher & Co. (NYSE:AJG) by 4.2% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,792 shares of the financial services provider’s stock after acquiring an additional 274 shares during the period. Meiji Yasuda Asset Management Co Ltd.’s holdings in Arthur J. Gallagher & Co. were worth $1,761,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the stock. Richardson Financial Services Inc. acquired a new position in Arthur J. Gallagher & Co. during the 4th quarter worth approximately $27,000. Creekmur Asset Management LLC bought a new position in Arthur J. Gallagher & Co. in the first quarter valued at $27,000. DiNuzzo Private Wealth Inc. increased its stake in Arthur J. Gallagher & Co. by 89.7% in the 2nd quarter. DiNuzzo Private Wealth Inc. now owns 110 shares of the financial services provider’s stock valued at $29,000 after buying an additional 52 shares during the last quarter. Y.D. More Investments Ltd bought a new stake in Arthur J. Gallagher & Co. during the 2nd quarter worth about $30,000. Finally, Transcendent Capital Group LLC bought a new position in shares of Arthur J. Gallagher & Co. in the 4th quarter valued at about $31,000. 85.53% of the stock is owned by institutional investors.

Arthur J. Gallagher & Co. Trading Down 3.1 %

Shares of NYSE:AJG opened at $282.18 on Friday. The stock has a market cap of $61.66 billion, a PE ratio of 57.12, a P/E/G ratio of 2.47 and a beta of 0.72. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.67. Arthur J. Gallagher & Co. has a 12-month low of $218.63 and a 12-month high of $301.04. The business has a 50 day moving average of $285.38 and a 200-day moving average of $262.49.

Arthur J. Gallagher & Co. (NYSE:AJG) last posted its quarterly earnings data on Thursday, July 25th. The financial services provider reported $2.26 earnings per share for the quarter, topping the consensus estimate of $2.24 by $0.02. The firm had revenue of $2.73 billion for the quarter, compared to analysts’ expectations 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 quarter last year, the business earned $1.90 EPS. As a group, equities research analysts forecast that Arthur J. Gallagher & Co. will post 10.16 earnings per share for the current year.

Arthur J. Gallagher & Co. Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 20th. Shareholders of record on Friday, September 6th will be issued a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 0.85%. The ex-dividend date of this dividend is Friday, September 6th. Arthur J. Gallagher & Co.’s dividend payout ratio is currently 48.58%.

Insiders Place Their Bets

In related news, President Thomas Joseph Gallagher sold 15,000 shares of the business’s stock in a transaction that occurred on Thursday, August 8th. The stock was 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 in the company, valued at $93,121,853.04. The sale was disclosed in a filing with the SEC, which is available at this link. In related news, General Counsel Walter D. Bay sold 6,335 shares of the stock in a transaction that occurred on Tuesday, July 30th. The shares were sold at an average price of $284.06, for a total transaction of $1,799,520.10. Following the sale, the general counsel now owns 30,053 shares in the company, valued at approximately $8,536,855.18. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, President Thomas Joseph Gallagher sold 15,000 shares of the company’s stock in a transaction on Thursday, August 8th. The stock was 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 disclosure for this sale can be found here. Insiders have sold a total of 37,145 shares of company stock worth $10,629,900 in the last quarter. Corporate insiders own 1.60% of the company’s stock.

Analyst Upgrades and Downgrades

AJG has been the topic of several analyst reports. TD Cowen upped their target price on Arthur J. Gallagher & Co. from $273.00 to $288.00 and gave the stock a “hold” rating in a report on Tuesday, August 13th. Keefe, Bruyette & Woods upped their price objective 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. Barclays initiated coverage on shares of Arthur J. Gallagher & Co. in a report on Wednesday, September 4th. They set an “equal weight” rating and a $300.00 target price on the stock. Jefferies Financial Group increased their price target on shares of Arthur J. Gallagher & Co. from $264.00 to $267.00 in a research note on Friday, July 26th. Finally, Piper Sandler boosted their price objective on shares of Arthur J. Gallagher & Co. from $252.00 to $254.00 and gave the stock a “neutral” rating in a research note on Friday, July 26th. Three research analysts have rated the stock with a sell rating, eight have given a hold rating and five have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $278.47.

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.