Terra Nova Asset Management LLC Buys 52 Shares of Arthur J. Gallagher & Co. (NYSE:AJG)

Terra Nova Asset Management LLC boosted its stake in Arthur J. Gallagher & Co. (NYSE:AJG) by 0.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,113 shares of the financial services provider’s stock after acquiring an additional 52 shares during the period. Arthur J. Gallagher & Co. accounts for 2.1% of Terra Nova Asset Management LLC’s investment portfolio, making the stock its 18th largest holding. Terra Nova Asset Management LLC’s holdings in Arthur J. Gallagher & Co. were worth $2,846,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also added to or reduced their stakes in AJG. Janus Henderson Group PLC raised its position in shares of Arthur J. Gallagher & Co. by 180.6% during the first quarter. Janus Henderson Group PLC now owns 1,228,266 shares of the financial services provider’s stock worth $307,076,000 after purchasing an additional 790,467 shares during the period. Capital International Investors grew its stake in Arthur J. Gallagher & Co. by 7.0% in the 1st quarter. Capital International Investors now owns 11,050,941 shares of the financial services provider’s stock valued at $2,763,177,000 after purchasing an additional 727,325 shares during the period. The Manufacturers Life Insurance Company grew its stake in Arthur J. Gallagher & Co. by 219.6% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 1,043,769 shares of the financial services provider’s stock valued at $270,660,000 after purchasing an additional 717,221 shares during the period. Capital World Investors grew its stake in Arthur J. Gallagher & Co. by 9.0% in the 1st quarter. Capital World Investors now owns 4,832,060 shares of the financial services provider’s stock valued at $1,208,208,000 after purchasing an additional 398,350 shares during the period. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its stake in shares of Arthur J. Gallagher & Co. by 510.1% during the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 189,326 shares of the financial services provider’s stock worth $47,339,000 after acquiring an additional 158,295 shares during the period. 85.53% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on AJG. Wells Fargo & Company increased their price target on Arthur J. Gallagher & Co. from $309.00 to $315.00 and gave the stock an “overweight” rating in a research note on Thursday, October 10th. Barclays initiated coverage on Arthur J. Gallagher & Co. in a report on Wednesday, September 4th. They issued an “equal weight” rating and a $300.00 price target on the stock. BMO Capital Markets raised their price objective on Arthur J. Gallagher & Co. from $275.00 to $295.00 and gave the company an “outperform” rating in a report on Friday, July 26th. Bank of America raised their price objective on Arthur J. Gallagher & Co. from $271.00 to $293.00 and gave the company an “underperform” rating in a report on Thursday, October 10th. Finally, Truist Financial lifted their price target on Arthur J. Gallagher & Co. from $265.00 to $275.00 and gave the stock a “hold” rating in a research note on Friday, September 20th. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $287.00.

Arthur J. Gallagher & Co. Stock Up 0.8 %

Shares of Arthur J. Gallagher & Co. stock traded up $2.23 during trading on Wednesday, reaching $289.80. The company’s stock had a trading volume of 71,443 shares, compared to its average volume of 843,187. The company has a market cap of $63.32 billion, a price-to-earnings ratio of 58.18, a P/E/G ratio of 2.53 and a beta of 0.72. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.67. The company has a 50-day simple moving average of $288.39 and a two-hundred day simple moving average of $267.04. Arthur J. Gallagher & Co. has a 1-year low of $218.63 and a 1-year high of $301.04.

Arthur J. Gallagher & Co. (NYSE:AJG) last posted its quarterly earnings data on Thursday, July 25th. The financial services provider reported $2.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.24 by $0.02. The company had revenue of $2.73 billion for the quarter, compared to analysts’ expectations of $2.77 billion. Arthur J. Gallagher & Co. had a return on equity of 19.25% and a net margin of 10.41%. Arthur J. Gallagher & Co.’s revenue was up 14.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.90 EPS. As a group, equities analysts forecast that Arthur J. Gallagher & Co. will post 10.11 earnings per share for the current year.

Arthur J. Gallagher & Co. Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 20th. Investors of record on Friday, September 6th were given a $0.60 dividend. The ex-dividend date of this dividend was Friday, September 6th. This represents a $2.40 annualized dividend and a yield of 0.83%. Arthur J. Gallagher & Co.’s payout ratio is 48.58%.

Insiders Place Their Bets

In related news, CFO Douglas K. Howell sold 7,000 shares of the stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $284.68, for a total value of $1,992,760.00. Following the transaction, the chief financial officer now owns 75,963 shares of the company’s stock, valued at $21,625,146.84. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other Arthur J. Gallagher & Co. news, CFO Douglas K. Howell sold 7,000 shares of the firm’s stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $284.68, for a total transaction of $1,992,760.00. Following the transaction, the chief financial officer now owns 75,963 shares of the company’s stock, valued at approximately $21,625,146.84. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, President Michael Robert Pesch sold 7,100 shares of the firm’s stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $296.20, for a total value of $2,103,020.00. Following the transaction, the president now directly owns 33,267 shares in the company, valued at approximately $9,853,685.40. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 44,145 shares of company stock worth $12,622,660 over the last ninety days. Corporate insiders own 1.60% of the company’s stock.

About Arthur J. Gallagher & Co.

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.