Nissay Asset Management Corp Japan boosted its position in Arthur J. Gallagher & Co. (NYSE:AJG – Free Report) by 13.0% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 193,547 shares of the financial services provider’s stock after acquiring an additional 22,227 shares during the period. Nissay Asset Management Corp Japan owned 0.08% of Arthur J. Gallagher & Co. worth $44,433,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in AJG. Kemnay Advisory Services Inc. acquired a new position in Arthur J. Gallagher & Co. in the fourth quarter valued at approximately $26,000. Axiom Investment Management LLC acquired a new stake in Arthur J. Gallagher & Co. during the 1st quarter worth $28,000. Cassaday & Co Wealth Management LLC acquired a new stake in Arthur J. Gallagher & Co. during the 1st quarter worth $29,000. Rakuten Securities Inc. raised its position in shares of Arthur J. Gallagher & Co. by 650.0% during the 2nd quarter. Rakuten Securities Inc. now owns 105 shares of the financial services provider’s stock valued at $34,000 after acquiring an additional 91 shares during the last quarter. Finally, MV Capital Management Inc. acquired a new position in shares of Arthur J. Gallagher & Co. in the 4th quarter valued at $34,000. 85.53% of the stock is owned by institutional investors.
Insider Buying and Selling at Arthur J. Gallagher & Co.
In related news, General Counsel Walter D. Bay sold 12,000 shares of the firm’s stock in a transaction on Monday, August 24th. The shares were sold at an average price of $270.08, for a total value of $3,240,960.00. Following the completion of the transaction, the general counsel directly owned 71,292 shares of the company’s stock, valued at approximately $19,254,543.36. This trade represents a 14.41% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Christopher E. Mead sold 3,500 shares of the stock in a transaction on Wednesday, August 19th. The shares were sold at an average price of $257.02, for a total transaction of $899,570.00. Following the completion of the sale, the vice president owned 22,223 shares of the company’s stock, valued at approximately $5,711,755.46. This represents a 13.61% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 18,500 shares of company stock worth $4,758,530. Insiders own 1.40% of the company’s stock.
Analyst Ratings Changes
View Our Latest Research Report on AJG
Arthur J. Gallagher & Co. Trading Up 2.8%
Shares of NYSE:AJG opened at $267.43 on Friday. The firm has a market cap of $68.54 billion, a price-to-earnings ratio of 44.35, a PEG ratio of 1.59 and a beta of 0.50. Arthur J. Gallagher & Co. has a 12 month low of $190.75 and a 12 month high of $313.55. The company’s fifty day simple moving average is $249.63 and its 200 day simple moving average is $225.78. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.50.
Arthur J. Gallagher & Co. (NYSE:AJG – Get Free Report) last released its earnings results on Thursday, July 30th. The financial services provider reported $2.84 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.81 by $0.03. Arthur J. Gallagher & Co. had a return on equity of 13.28% and a net margin of 9.96%.The firm had revenue of $3.95 billion during the quarter, compared to analysts’ expectations of $4.01 billion. The company’s revenue was up 24.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.33 EPS. As a group, research analysts forecast that Arthur J. Gallagher & Co. will post 13.27 EPS for the current fiscal year.
Arthur J. Gallagher & Co. Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 18th. Investors of record on Tuesday, September 8th will be given a $0.70 dividend. The ex-dividend date of this dividend is Tuesday, September 8th. This represents a $2.80 dividend on an annualized basis and a yield of 1.0%. Arthur J. Gallagher & Co.’s dividend payout ratio (DPR) is 46.43%.
Arthur J. Gallagher & Co. Company 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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