Arthur J. Gallagher & Co. (NYSE:AJG) Shares Sold by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. cut its stake in Arthur J. Gallagher & Co. (NYSE:AJG) by 7.2% during the 3rd quarter, Holdings Channel.com reports. The fund owned 24,360 shares of the financial services provider’s stock after selling 1,896 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Arthur J. Gallagher & Co. were worth $6,807,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of AJG. Janus Henderson Group PLC boosted its position in shares of Arthur J. Gallagher & Co. by 180.6% in 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 acquiring an additional 790,467 shares during the last quarter. Capital International Investors raised its holdings in Arthur J. Gallagher & Co. by 7.0% in the first quarter. Capital International Investors now owns 11,050,941 shares of the financial services provider’s stock valued at $2,763,177,000 after buying an additional 727,325 shares during the period. The Manufacturers Life Insurance Company raised its holdings in Arthur J. Gallagher & Co. by 219.6% in the second 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 buying an additional 717,221 shares during the period. Capital World Investors raised its holdings in Arthur J. Gallagher & Co. by 9.0% in the first quarter. Capital World Investors now owns 4,832,060 shares of the financial services provider’s stock valued at $1,208,208,000 after buying an additional 398,350 shares during the period. Finally, International Assets Investment Management LLC raised its holdings in Arthur J. Gallagher & Co. by 29,927.4% in the third quarter. International Assets Investment Management LLC now owns 232,412 shares of the financial services provider’s stock valued at $65,394,000 after buying an additional 231,638 shares during the period. 85.53% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Arthur J. Gallagher & Co. news, President Thomas Joseph Gallagher sold 15,000 shares of Arthur J. Gallagher & Co. stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $282.96, for a total value of $4,244,400.00. Following the completion of the transaction, the president now owns 329,099 shares of the company’s stock, valued at $93,121,853.04. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other news, President Michael Robert Pesch sold 7,100 shares of the business’s stock in a transaction on Friday, September 13th. The shares were sold at an average price of $296.20, for a total transaction of $2,103,020.00. Following the completion of the transaction, the president now owns 33,267 shares of the company’s stock, valued at approximately $9,853,685.40. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, President Thomas Joseph Gallagher sold 15,000 shares of the business’s stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $282.96, for a total transaction of $4,244,400.00. Following the transaction, the president now directly owns 329,099 shares of the company’s stock, valued at approximately $93,121,853.04. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 37,810 shares of company stock valued at $10,823,140 over the last 90 days. 1.60% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several research analysts recently commented on AJG shares. Jefferies Financial Group raised their price target on shares of Arthur J. Gallagher & Co. from $269.00 to $274.00 and gave the company a “hold” rating in a report on Wednesday, October 9th. The Goldman Sachs Group lifted their price objective on shares of Arthur J. Gallagher & Co. from $272.00 to $286.00 in a research note on Friday, July 26th. Truist Financial lifted their price objective on shares of Arthur J. Gallagher & Co. from $265.00 to $275.00 and gave the company a “hold” rating in a research note on Friday, September 20th. Piper Sandler lifted their price objective on shares of Arthur J. Gallagher & Co. from $254.00 to $293.00 and gave the company a “neutral” rating in a research note on Friday, September 20th. Finally, Keefe, Bruyette & Woods lifted their price objective on shares of Arthur J. Gallagher & Co. from $241.00 to $252.00 and gave the company an “underperform” rating in a research note on Friday, July 26th. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $287.00.

Arthur J. Gallagher & Co. Stock Up 1.1 %

Shares of NYSE:AJG opened at $285.99 on Tuesday. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.67. The company has a fifty day simple moving average of $289.21 and a 200 day simple moving average of $269.88. The firm has a market cap of $62.49 billion, a PE ratio of 57.89, a price-to-earnings-growth ratio of 2.53 and a beta of 0.72. Arthur J. Gallagher & Co. has a 12-month low of $218.63 and a 12-month high of $301.04.

Arthur J. Gallagher & Co. (NYSE:AJG) last released its quarterly earnings data on Thursday, October 24th. The financial services provider reported $2.26 EPS for the quarter, hitting analysts’ consensus estimates of $2.26. The firm had revenue of $2.77 billion during the quarter, compared to the consensus estimate of $2.78 billion. Arthur J. Gallagher & Co. had a net margin of 10.41% and a return on equity of 19.25%. The firm’s revenue was up 12.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.00 earnings per share. On average, equities research analysts anticipate that Arthur J. Gallagher & Co. will post 10.11 EPS for the current fiscal year.

Arthur J. Gallagher & Co. Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Friday, December 6th will be issued a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 0.84%. The ex-dividend date is Friday, December 6th. Arthur J. Gallagher & Co.’s dividend payout ratio is presently 48.58%.

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.