Mirae Asset Global Investments Co. Ltd. Boosts Stock Position in Arthur J. Gallagher & Co. (NYSE:AJG)

Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Arthur J. Gallagher & Co. (NYSE:AJGFree Report) by 41.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 54,340 shares of the financial services provider’s stock after acquiring an additional 15,993 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Arthur J. Gallagher & Co. were worth $13,587,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in AJG. Richardson Financial Services Inc. purchased a new stake in shares of Arthur J. Gallagher & Co. in the fourth quarter worth $27,000. SJS Investment Consulting Inc. raised its position in shares of Arthur J. Gallagher & Co. by 460.9% in the fourth quarter. SJS Investment Consulting Inc. now owns 129 shares of the financial services provider’s stock worth $29,000 after buying an additional 106 shares in the last quarter. Transcendent Capital Group LLC purchased a new stake in shares of Arthur J. Gallagher & Co. in the fourth quarter worth $31,000. Ruedi Wealth Management Inc. bought a new position in Arthur J. Gallagher & Co. in the fourth quarter valued at $33,000. Finally, Security National Bank bought a new position in Arthur J. Gallagher & Co. in the fourth quarter valued at $33,000. Hedge funds and other institutional investors own 85.53% of the company’s stock.

Arthur J. Gallagher & Co. Price Performance

Shares of AJG opened at $264.67 on Monday. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.70. Arthur J. Gallagher & Co. has a twelve month low of $212.39 and a twelve month high of $266.39. The company has a market capitalization of $57.83 billion, a P/E ratio of 53.58, a price-to-earnings-growth ratio of 2.37 and a beta of 0.72. The firm has a 50 day moving average of $253.65 and a 200 day moving average of $243.86.

Arthur J. Gallagher & Co. (NYSE:AJGGet Free Report) last posted its earnings results on Thursday, April 25th. The financial services provider reported $3.49 EPS for the quarter, topping analysts’ consensus estimates of $3.41 by $0.08. Arthur J. Gallagher & Co. had a net margin of 10.27% and a return on equity of 18.94%. The business had revenue of $3.22 billion during the quarter, compared to the consensus estimate of $3.18 billion. During the same quarter in the previous year, the firm posted $3.03 EPS. The firm’s revenue was up 20.4% on a year-over-year basis. As a group, equities research analysts anticipate that Arthur J. Gallagher & Co. will post 10.09 earnings per share for the current fiscal year.

Arthur J. Gallagher & Co. Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, June 21st. Shareholders of record on Friday, June 7th were given a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 0.91%. The ex-dividend date was Friday, June 7th. Arthur J. Gallagher & Co.’s dividend payout ratio (DPR) is presently 48.58%.

Insiders Place Their Bets

In other Arthur J. Gallagher & Co. news, General Counsel Walter D. Bay sold 8,303 shares of Arthur J. Gallagher & Co. stock in a transaction that occurred on Tuesday, June 18th. The shares were sold at an average price of $262.74, for a total value of $2,181,530.22. Following the completion of the sale, the general counsel now owns 36,388 shares of the company’s stock, valued at approximately $9,560,583.12. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, General Counsel Walter D. Bay sold 8,303 shares of the business’s stock in a transaction on Tuesday, June 18th. The shares were sold at an average price of $262.74, for a total transaction of $2,181,530.22. Following the completion of the sale, the general counsel now owns 36,388 shares of the company’s stock, valued at approximately $9,560,583.12. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, VP Scott R. Hudson sold 10,000 shares of the business’s stock in a transaction on Tuesday, June 18th. The shares were sold at an average price of $263.45, for a total transaction of $2,634,500.00. Following the sale, the vice president now directly owns 93,730 shares of the company’s stock, valued at approximately $24,693,168.50. The disclosure for this sale can be found here. In the last quarter, insiders sold 53,165 shares of company stock valued at $13,629,049. Company insiders own 1.60% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently commented on AJG. Argus increased their target price on Arthur J. Gallagher & Co. from $264.00 to $270.00 and gave the company a “buy” rating in a research note on Tuesday, May 14th. Keefe, Bruyette & Woods reissued an “underperform” rating and issued a $240.00 target price on shares of Arthur J. Gallagher & Co. in a research note on Wednesday, June 26th. Wells Fargo & Company increased their target price on Arthur J. Gallagher & Co. from $274.00 to $282.00 and gave the company an “overweight” rating in a research note on Wednesday, June 26th. Royal Bank of Canada lifted their target price on shares of Arthur J. Gallagher & Co. from $282.00 to $290.00 and gave the company an “outperform” rating in a report on Wednesday, June 26th. Finally, TD Cowen lifted their target price on shares of Arthur J. Gallagher & Co. from $249.00 to $273.00 and gave the company a “hold” rating in a report on Tuesday, April 2nd. Two analysts have rated the stock with a sell rating, six have issued a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $263.00.

View Our Latest Report on AJG

About Arthur J. Gallagher & Co.

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Arthur J. Gallagher & Co. (NYSE:AJG)

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