Skandinaviska Enskilda Banken AB publ lessened its stake in shares of Arthur J. Gallagher & Co. (NYSE:AJG – Get Rating) by 11.6% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 617 shares of the financial services provider’s stock after selling 81 shares during the quarter. Skandinaviska Enskilda Banken AB publ’s holdings in Arthur J. Gallagher & Co. were worth $106,000 at the end of the most recent reporting period.
Other large investors have also modified their holdings of the company. Oppenheimer Asset Management Inc. raised its stake in Arthur J. Gallagher & Co. by 12.6% during the 3rd quarter. Oppenheimer Asset Management Inc. now owns 1,742 shares of the financial services provider’s stock worth $298,000 after acquiring an additional 195 shares in the last quarter. Brown Advisory Inc. lifted its holdings in shares of Arthur J. Gallagher & Co. by 0.7% in the 3rd quarter. Brown Advisory Inc. now owns 104,371 shares of the financial services provider’s stock valued at $17,870,000 after purchasing an additional 718 shares during the last quarter. Bishop Rock Capital L.P. boosted its position in shares of Arthur J. Gallagher & Co. by 44.2% in the 3rd quarter. Bishop Rock Capital L.P. now owns 32,974 shares of the financial services provider’s stock valued at $5,646,000 after purchasing an additional 10,112 shares during the period. Envestnet Asset Management Inc. grew its stake in Arthur J. Gallagher & Co. by 16.9% during the 3rd quarter. Envestnet Asset Management Inc. now owns 950,990 shares of the financial services provider’s stock worth $162,828,000 after buying an additional 137,703 shares during the last quarter. Finally, Cadence Bank acquired a new position in Arthur J. Gallagher & Co. during the third quarter worth approximately $277,000. Institutional investors and hedge funds own 82.07% of the company’s stock.
Analyst Ratings Changes
A number of equities analysts have recently issued reports on the stock. Raymond James raised their target price on shares of Arthur J. Gallagher & Co. from $205.00 to $215.00 and gave the stock a “strong-buy” rating in a research report on Thursday, December 29th. Piper Sandler increased their target price on shares of Arthur J. Gallagher & Co. from $195.00 to $215.00 and gave the stock a “neutral” rating in a research note on Friday, January 27th. Citigroup raised their price target on Arthur J. Gallagher & Co. from $225.00 to $228.00 and gave the stock a “buy” rating in a report on Wednesday, February 1st. Truist Financial increased their price objective on Arthur J. Gallagher & Co. from $220.00 to $230.00 and gave the stock a “buy” rating in a research report on Monday, January 30th. Finally, UBS Group upped their price target on Arthur J. Gallagher & Co. to $197.00 in a research note on Friday, November 4th. Five investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Arthur J. Gallagher & Co. currently has an average rating of “Moderate Buy” and a consensus price target of $211.86.
Arthur J. Gallagher & Co. Stock Performance
Arthur J. Gallagher & Co. (NYSE:AJG – Get Rating) last issued its earnings results on Thursday, January 26th. The financial services provider reported $1.54 earnings per share for the quarter, topping the consensus estimate of $1.50 by $0.04. Arthur J. Gallagher & Co. had a net margin of 13.08% and a return on equity of 18.64%. The company had revenue of $2 billion for the quarter, compared to analyst estimates of $1.96 billion. During the same period in the prior year, the business posted $0.98 earnings per share. The firm’s revenue for the quarter was up 2.8% compared to the same quarter last year. Analysts expect that Arthur J. Gallagher & Co. will post 8.76 earnings per share for the current fiscal year.
Arthur J. Gallagher & Co. Increases Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 17th. Investors of record on Friday, March 3rd will be paid a $0.55 dividend. This is an increase from Arthur J. Gallagher & Co.’s previous quarterly dividend of $0.51. This represents a $2.20 annualized dividend and a yield of 1.19%. The ex-dividend date of this dividend is Thursday, March 2nd. Arthur J. Gallagher & Co.’s dividend payout ratio (DPR) is presently 42.31%.
Insider Buying and Selling
In other news, CFO Douglas K. Howell sold 4,700 shares of the firm’s stock in a transaction on Wednesday, November 30th. The stock was sold at an average price of $196.32, for a total value of $922,704.00. Following the completion of the transaction, the chief financial officer now owns 88,123 shares in the company, valued at $17,300,307.36. The sale was disclosed in a document filed with the SEC, which is available at this link. In other Arthur J. Gallagher & Co. news, Director Sherry S. Barrat sold 505 shares of the company’s stock in a transaction dated Wednesday, November 30th. The shares were sold at an average price of $198.59, for a total value of $100,287.95. Following the sale, the director now owns 21,613 shares of the company’s stock, valued at $4,292,125.67. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Douglas K. Howell sold 4,700 shares of the firm’s stock in a transaction that occurred on Wednesday, November 30th. The stock was sold at an average price of $196.32, for a total transaction of $922,704.00. Following the transaction, the chief financial officer now directly owns 88,123 shares of the company’s stock, valued at $17,300,307.36. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 5,387 shares of company stock valued at $1,058,771. 1.40% of the stock is owned by insiders.
Arthur J. Gallagher & Co. Profile
Arthur J. Gallagher & Co engages in the provision of insurance brokerage, consulting, and third-party claims settlement and administration services to both domestic and international entities. It operates through the following business segments: Brokerage, Risk Management and Corporate. The Brokerage segment consists of retail and wholesale insurance brokerage operations.
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