Erste Asset Management GmbH Makes New $8.02 Million Investment in Arthur J. Gallagher & Co. (NYSE:AJG)

Erste Asset Management GmbH purchased a new stake in Arthur J. Gallagher & Co. (NYSE:AJG) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 28,700 shares of the financial services provider’s stock, valued at approximately $8,020,000.

A number of other large investors have also made changes to their positions in AJG. Encompass More Asset Management increased its holdings in shares of Arthur J. Gallagher & Co. by 4.4% in the third quarter. Encompass More Asset Management now owns 969 shares of the financial services provider’s stock worth $273,000 after acquiring an additional 41 shares in the last quarter. Rockefeller Capital Management L.P. increased its stake in Arthur J. Gallagher & Co. by 18.9% during the 3rd quarter. Rockefeller Capital Management L.P. now owns 17,750 shares of the financial services provider’s stock worth $4,990,000 after purchasing an additional 2,819 shares in the last quarter. Pin Oak Investment Advisors Inc. raised its holdings in Arthur J. Gallagher & Co. by 543.8% during the 3rd quarter. Pin Oak Investment Advisors Inc. now owns 103 shares of the financial services provider’s stock worth $28,000 after buying an additional 87 shares during the period. Vinva Investment Management Ltd lifted its stake in Arthur J. Gallagher & Co. by 13.1% in the third quarter. Vinva Investment Management Ltd now owns 9,710 shares of the financial services provider’s stock valued at $2,713,000 after buying an additional 1,128 shares in the last quarter. Finally, Public Sector Pension Investment Board boosted its holdings in shares of Arthur J. Gallagher & Co. by 3.2% in the third quarter. Public Sector Pension Investment Board now owns 38,195 shares of the financial services provider’s stock valued at $10,747,000 after buying an additional 1,188 shares during the period. Institutional investors own 85.53% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently commented on AJG. Jefferies Financial Group boosted their price objective on shares of Arthur J. Gallagher & Co. from $269.00 to $274.00 and gave the company a “hold” rating in a research report on Wednesday, October 9th. Piper Sandler boosted their price target on Arthur J. Gallagher & Co. from $254.00 to $293.00 and gave the company a “neutral” rating in a report on Friday, September 20th. Truist Financial increased their price objective on Arthur J. Gallagher & Co. from $265.00 to $275.00 and gave the stock a “hold” rating in a report on Friday, September 20th. Barclays boosted their target price on Arthur J. Gallagher & Co. from $300.00 to $308.00 and gave the company an “equal weight” rating in a research note on Thursday, November 21st. Finally, Royal Bank of Canada lifted their price objective on shares of Arthur J. Gallagher & Co. from $310.00 to $320.00 and gave the company an “outperform” rating in a report on Friday, September 20th. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $291.64.

Arthur J. Gallagher & Co. Stock Performance

AJG opened at $312.24 on Monday. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.64. Arthur J. Gallagher & Co. has a 12-month low of $218.63 and a 12-month high of $316.72. The business has a 50 day moving average of $290.89 and a 200-day moving average of $279.37. The stock has a market cap of $68.51 billion, a price-to-earnings ratio of 59.47, a PEG ratio of 2.66 and a beta of 0.72.

Arthur J. Gallagher & Co. (NYSE:AJG) last announced its quarterly earnings results on Thursday, October 24th. The financial services provider reported $2.26 EPS for the quarter, meeting analysts’ consensus estimates of $2.26. The business had revenue of $2.77 billion for the quarter, compared to analyst estimates of $2.78 billion. Arthur J. Gallagher & Co. had a net margin of 10.40% and a return on equity of 19.12%. Arthur J. Gallagher & Co.’s quarterly revenue was up 12.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.00 EPS. On average, equities research analysts expect that Arthur J. Gallagher & Co. will post 10.12 earnings per share for the current year.

Arthur J. Gallagher & Co. Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Friday, December 6th will be given a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 0.77%. The ex-dividend date is Friday, December 6th. Arthur J. Gallagher & Co.’s dividend payout ratio is 45.71%.

Insiders Place Their Bets

In other Arthur J. Gallagher & Co. news, CFO Douglas K. Howell sold 7,000 shares of the stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $284.68, for a total transaction of $1,992,760.00. Following the sale, the chief financial officer now directly owns 75,963 shares in the company, valued at $21,625,146.84. This represents a 8.44 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, President Michael Robert Pesch sold 7,100 shares of the business’s stock in a transaction that occurred 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 $9,853,685.40. The trade was a 17.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 23,900 shares of company stock worth $6,892,280 in the last quarter. Corporate insiders own 1.60% of the company’s stock.

Arthur J. Gallagher & Co. Company 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.