Tokio Marine Asset Management Co. Ltd. Raises Holdings in Arthur J. Gallagher & Co. (NYSE:AJG)

Tokio Marine Asset Management Co. Ltd. boosted its holdings in shares of Arthur J. Gallagher & Co. (NYSE:AJG) by 10.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 5,301 shares of the financial services provider’s stock after purchasing an additional 514 shares during the quarter. Tokio Marine Asset Management Co. Ltd.’s holdings in Arthur J. Gallagher & Co. were worth $1,192,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the company. FMR LLC raised its position in Arthur J. Gallagher & Co. by 8.1% in the third quarter. FMR LLC now owns 9,664,117 shares of the financial services provider’s stock valued at $2,202,742,000 after purchasing an additional 726,485 shares during the period. Bank Julius Baer & Co. Ltd Zurich grew its stake in shares of Arthur J. Gallagher & Co. by 36,168.9% in the third quarter. Bank Julius Baer & Co. Ltd Zurich now owns 357,974 shares of the financial services provider’s stock valued at $81,593,000 after buying an additional 356,987 shares in the last quarter. Congress Asset Management Co. MA grew its stake in Arthur J. Gallagher & Co. by 7,923.4% during the 3rd quarter. Congress Asset Management Co. MA now owns 298,871 shares of the financial services provider’s stock worth $68,122,000 after purchasing an additional 295,146 shares in the last quarter. Envestnet Asset Management Inc. grew its stake in Arthur J. Gallagher & Co. by 26.6% during the 3rd quarter. Envestnet Asset Management Inc. now owns 1,289,340 shares of the financial services provider’s stock worth $293,879,000 after purchasing an additional 271,225 shares in the last quarter. Finally, Aviva PLC grew its stake in Arthur J. Gallagher & Co. by 432.5% during the 3rd quarter. Aviva PLC now owns 260,673 shares of the financial services provider’s stock worth $59,415,000 after purchasing an additional 211,716 shares in the last quarter. Institutional investors and hedge funds own 85.53% of the company’s stock.

Arthur J. Gallagher & Co. Stock Performance

AJG traded down $2.43 on Friday, hitting $234.52. 289,525 shares of the company traded hands, compared to its average volume of 859,524. The company has a 50 day moving average of $244.34 and a 200-day moving average of $238.92. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.65. The stock has a market capitalization of $51.20 billion, a PE ratio of 53.34, a PEG ratio of 2.23 and a beta of 0.68. Arthur J. Gallagher & Co. has a 12-month low of $198.52 and a 12-month high of $256.10.

Arthur J. Gallagher & Co. (NYSE:AJG) last released its earnings results on Thursday, January 25th. The financial services provider reported $1.85 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.83 by $0.02. Arthur J. Gallagher & Co. had a return on equity of 18.49% and a net margin of 9.63%. The company had revenue of $2.39 billion for the quarter, compared to analysts’ expectations of $2.40 billion. During the same quarter in the previous year, the firm posted $1.54 EPS. Sell-side analysts anticipate that Arthur J. Gallagher & Co. will post 10.06 earnings per share for the current year.

Arthur J. Gallagher & Co. Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 21st. Shareholders of record on Friday, June 7th will be given a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 1.02%. The ex-dividend date of this dividend is Friday, June 7th. Arthur J. Gallagher & Co.’s payout ratio is 54.05%.

Insiders Place Their Bets

In other Arthur J. Gallagher & Co. news, VP Joel D. Cavaness sold 1,207 shares of the business’s stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $255.20, for a total transaction of $308,026.40. Following the transaction, the vice president now owns 2,023 shares in the company, valued at approximately $516,269.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, VP Joel D. Cavaness sold 1,207 shares of the company’s stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $255.20, for a total value of $308,026.40. Following the sale, the vice president now owns 2,023 shares in the company, valued at approximately $516,269.60. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director David S. Johnson sold 500 shares of the company’s stock in a transaction that occurred on Tuesday, February 6th. The stock was sold at an average price of $234.04, for a total value of $117,020.00. Following the completion of the sale, the director now owns 45,038 shares in the company, valued at approximately $10,540,693.52. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 29,016 shares of company stock worth $7,176,180. Company insiders own 1.60% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the company. Jefferies Financial Group cut Arthur J. Gallagher & Co. from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $279.00 to $233.00 in a research report on Tuesday, January 9th. Truist Financial reaffirmed a “hold” rating and set a $255.00 price objective (down from $280.00) on shares of Arthur J. Gallagher & Co. in a research report on Wednesday, April 10th. Keefe, Bruyette & Woods lowered their price objective on Arthur J. Gallagher & Co. from $246.00 to $240.00 and set an “underperform” rating for the company in a research report on Wednesday, April 10th. Royal Bank of Canada upped their price objective on Arthur J. Gallagher & Co. from $270.00 to $282.00 and gave the stock an “outperform” rating in a research report on Friday, March 22nd. Finally, TD Cowen boosted their target price on Arthur J. Gallagher & Co. from $249.00 to $273.00 and gave the company a “hold” rating in a report on Tuesday, April 2nd. One analyst has rated the stock with a sell rating, six have issued a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, Arthur J. Gallagher & Co. presently has an average rating of “Hold” and a consensus target price of $255.23.

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.