OP Asset Management Ltd bought a new stake in shares of Arthur J. Gallagher & Co. (NYSE:AJG – Free Report) during the 1st quarter, HoldingsChannel.com reports. The institutional investor bought 26,155 shares of the financial services provider’s stock, valued at approximately $5,665,000.
Other institutional investors also recently made changes to their positions in the company. Kemnay Advisory Services Inc. bought a new position in shares of Arthur J. Gallagher & Co. in the fourth quarter valued at approximately $26,000. MV Capital Management Inc. bought a new stake in Arthur J. Gallagher & Co. during the fourth quarter worth approximately $34,000. Rakuten Securities Inc. lifted its position in Arthur J. Gallagher & Co. by 650.0% in the second quarter. Rakuten Securities Inc. now owns 105 shares of the financial services provider’s stock worth $34,000 after purchasing an additional 91 shares during the period. Financial Life Planners bought a new position in Arthur J. Gallagher & Co. during the 3rd quarter valued at $39,000. Finally, Prosperity Bancshares Inc acquired a new position in shares of Arthur J. Gallagher & Co. during the 4th quarter valued at $42,000. 85.53% of the stock is owned by institutional investors and hedge funds.
Arthur J. Gallagher & Co. Trading Up 3.9%
Shares of NYSE AJG opened at $226.34 on Friday. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.51. Arthur J. Gallagher & Co. has a 12 month low of $190.75 and a 12 month high of $323.25. The company has a market cap of $58.15 billion, a price-to-earnings ratio of 36.62, a P/E/G ratio of 1.11 and a beta of 0.52. The business has a fifty day simple moving average of $210.49 and a 200-day simple moving average of $225.98.
Arthur J. Gallagher & Co. Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Friday, June 19th. Stockholders of record on Friday, June 5th were given a $0.70 dividend. This represents a $2.80 annualized dividend and a dividend yield of 1.2%. The ex-dividend date of this dividend was Friday, June 5th. Arthur J. Gallagher & Co.’s dividend payout ratio (DPR) is 45.31%.
Insider Activity
In other news, CAO Richard C. Cary sold 3,000 shares of the business’s stock in a transaction that occurred on Tuesday, June 2nd. The shares were sold at an average price of $206.00, for a total transaction of $618,000.00. Following the sale, the chief accounting officer owned 47,819 shares in the company, valued at $9,850,714. The trade was a 5.90% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.40% of the stock is owned by corporate insiders.
Wall Street Analysts Forecast Growth
AJG has been the topic of a number of research reports. BMO Capital Markets raised Arthur J. Gallagher & Co. from a “market perform” rating to an “outperform” rating and boosted their price objective for the stock from $275.00 to $278.00 in a research note on Tuesday, March 24th. Morgan Stanley lowered their target price on Arthur J. Gallagher & Co. from $265.00 to $240.00 and set an “overweight” rating on the stock in a report on Thursday, May 21st. Jefferies Financial Group raised shares of Arthur J. Gallagher & Co. from a “hold” rating to a “buy” rating and upped their price target for the company from $235.00 to $265.00 in a report on Thursday, June 11th. Weiss Ratings restated a “hold (c-)” rating on shares of Arthur J. Gallagher & Co. in a research report on Monday, June 15th. Finally, Mizuho dropped their target price on shares of Arthur J. Gallagher & Co. from $260.00 to $259.00 and set an “outperform” rating on the stock in a report on Monday, April 13th. Thirteen equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $264.12.
View Our Latest Stock Analysis on AJG
Arthur J. Gallagher & Co. Profile
Arthur J. Gallagher & Co is a global insurance brokerage and risk management firm headquartered in Rolling Meadows, Illinois. Founded in 1927 by Arthur J. Gallagher, the company has grown from a regional broker into an international professional services organization that arranges insurance, provides consulting and designs risk-transfer solutions for commercial, industrial, public sector and individual clients.
The company’s core activities include property and casualty insurance brokerage, employee benefits consulting and administration, and a range of risk management services.
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