19,468 Shares in Arthur J Gallagher & Co (AJG) Purchased by Allianz Asset Management GmbH
Allianz Asset Management GmbH purchased a new position in shares of Arthur J Gallagher & Co (NYSE:AJG) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 19,468 shares of the financial services provider’s stock, valued at approximately $1,198,000.
Several other hedge funds and other institutional investors also recently made changes to their positions in AJG. Invictus RG acquired a new stake in shares of Arthur J Gallagher & Co in the third quarter valued at $130,000. Pacer Advisors Inc. raised its stake in shares of Arthur J Gallagher & Co by 8.2% in the second quarter. Pacer Advisors Inc. now owns 3,437 shares of the financial services provider’s stock valued at $197,000 after acquiring an additional 261 shares in the last quarter. Eagle Boston Investment Management Inc. acquired a new stake in shares of Arthur J Gallagher & Co in the third quarter valued at $201,000. Coldstream Capital Management Inc. acquired a new stake in shares of Arthur J Gallagher & Co in the second quarter valued at $202,000. Finally, Doyle Wealth Management acquired a new stake in shares of Arthur J Gallagher & Co in the third quarter valued at $203,000. Institutional investors and hedge funds own 82.47% of the company’s stock.
In other Arthur J Gallagher & Co news, Director Frank E. Jr. English sold 1,500 shares of the firm’s stock in a transaction dated Friday, November 3rd. The stock was sold at an average price of $63.67, for a total transaction of $95,505.00. Following the transaction, the director now owns 10,600 shares of the company’s stock, valued at $674,902. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP Scott R. Hudson sold 7,600 shares of the stock in a transaction dated Friday, December 8th. The stock was sold at an average price of $65.29, for a total transaction of $496,204.00. Following the sale, the vice president now owns 25,027 shares of the company’s stock, valued at approximately $1,634,012.83. The disclosure for this sale can be found here. Company insiders own 1.60% of the company’s stock.
Several equities analysts recently commented on the company. Wells Fargo & Co set a $74.00 target price on Arthur J Gallagher & Co and gave the company a “buy” rating in a report on Wednesday, December 20th. Keefe, Bruyette & Woods reissued a “buy” rating and issued a $77.00 target price on shares of Arthur J Gallagher & Co in a report on Friday, December 22nd. Zacks Investment Research raised Arthur J Gallagher & Co from a “hold” rating to a “buy” rating and set a $70.00 target price on the stock in a report on Wednesday. Royal Bank of Canada reissued a “hold” rating and issued a $59.00 target price on shares of Arthur J Gallagher & Co in a report on Tuesday, October 10th. Finally, Barclays increased their target price on Arthur J Gallagher & Co from $68.00 to $70.00 and gave the company an “overweight” rating in a report on Monday, October 16th. Five investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $68.11.
Arthur J Gallagher & Co (AJG) opened at $63.22 on Thursday. The stock has a market capitalization of $11,370.00, a PE ratio of 25.29, a price-to-earnings-growth ratio of 2.11 and a beta of 1.23. Arthur J Gallagher & Co has a twelve month low of $51.60 and a twelve month high of $67.32. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.66.
Arthur J Gallagher & Co (NYSE:AJG) last issued its quarterly earnings data on Thursday, October 26th. The financial services provider reported $0.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.79 by $0.02. The company had revenue of $1.58 billion for the quarter, compared to analyst estimates of $1.60 billion. Arthur J Gallagher & Co had a return on equity of 13.56% and a net margin of 7.62%. The business’s quarterly revenue was up 6.9% compared to the same quarter last year. During the same quarter last year, the company posted $0.77 earnings per share. sell-side analysts forecast that Arthur J Gallagher & Co will post 2.99 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, December 15th. Shareholders of record on Friday, December 1st were issued a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a dividend yield of 2.47%. The ex-dividend date was Thursday, November 30th. Arthur J Gallagher & Co’s payout ratio is 62.40%.
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Arthur J Gallagher & Co Profile
Arthur J. Gallagher & Co and its subsidiaries are engaged in providing insurance brokerage and consulting services, and third-party claims settlement and administration services to both domestic and international entities. The Company operates through three segments: brokerage, risk management and corporate.
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