Taikang Asset Management Hong Kong Co Ltd Raises Holdings in Arthur J. Gallagher & Co. $AJG

Taikang Asset Management Hong Kong Co Ltd lifted its stake in Arthur J. Gallagher & Co. (NYSE:AJG) by 35.4% during the fourth quarter, Holdings Channel reports. The institutional investor owned 59,708 shares of the financial services provider’s stock after acquiring an additional 15,608 shares during the quarter. Arthur J. Gallagher & Co. makes up approximately 1.5% of Taikang Asset Management Hong Kong Co Ltd’s investment portfolio, making the stock its 17th largest position. Taikang Asset Management Hong Kong Co Ltd’s holdings in Arthur J. Gallagher & Co. were worth $15,452,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. Howe & Rusling Inc. acquired a new position in Arthur J. Gallagher & Co. in the 4th quarter worth about $238,000. Beacon Investment Advisors LLC raised its holdings in Arthur J. Gallagher & Co. by 9.1% in the 4th quarter. Beacon Investment Advisors LLC now owns 1,053 shares of the financial services provider’s stock worth $273,000 after purchasing an additional 88 shares during the period. L2 Asset Management LLC raised its holdings in Arthur J. Gallagher & Co. by 7.4% in the 4th quarter. L2 Asset Management LLC now owns 1,283 shares of the financial services provider’s stock worth $332,000 after purchasing an additional 88 shares during the period. Cynosure Group LLC raised its holdings in Arthur J. Gallagher & Co. by 40.4% in the 4th quarter. Cynosure Group LLC now owns 3,261 shares of the financial services provider’s stock worth $844,000 after purchasing an additional 938 shares during the period. Finally, TritonPoint Partners LLC acquired a new position in Arthur J. Gallagher & Co. in the 4th quarter worth about $721,000. Hedge funds and other institutional investors own 85.53% of the company’s stock.

Insider Buying and Selling at Arthur J. Gallagher & Co.

In other news, CAO Richard C. Cary sold 3,000 shares of the firm’s stock in a transaction that occurred on Tuesday, June 2nd. The stock was sold at an average price of $206.00, for a total value of $618,000.00. Following the transaction, the chief accounting officer owned 47,819 shares in the company, valued at $9,850,714. This trade represents a 5.90% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 1.40% of the stock is currently owned by company insiders.

Arthur J. Gallagher & Co. Stock Performance

NYSE AJG opened at $216.16 on Wednesday. The company has a market cap of $55.53 billion, a PE ratio of 34.98, a price-to-earnings-growth ratio of 1.09 and a beta of 0.52. The stock’s 50 day simple moving average is $210.90 and its 200-day simple moving average is $227.44. Arthur J. Gallagher & Co. has a 1-year low of $190.75 and a 1-year high of $327.34. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.06 and a quick ratio of 1.06.

Arthur J. Gallagher & Co. (NYSE:AJG) last released its earnings results on Thursday, April 30th. The financial services provider reported $4.47 earnings per share for the quarter, beating the consensus estimate of $4.43 by $0.04. The business had revenue of $4.71 billion for the quarter, compared to the consensus estimate of $4.73 billion. Arthur J. Gallagher & Co. had a return on equity of 12.83% and a net margin of 10.76%.The business’s quarterly revenue was up 29.0% compared to the same quarter last year. During the same quarter last year, the business posted $3.67 earnings per share. As a group, equities research analysts anticipate that Arthur J. Gallagher & Co. will post 13.27 EPS for the current fiscal year.

Arthur J. Gallagher & Co. Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, June 19th. Stockholders of record on Friday, June 5th will be given a $0.70 dividend. This represents a $2.80 annualized dividend and a dividend yield of 1.3%. The ex-dividend date is Friday, June 5th. Arthur J. Gallagher & Co.’s dividend payout ratio (DPR) is 45.31%.

Analysts Set New Price Targets

A number of research firms recently weighed in on AJG. Truist Financial reduced their price target on Arthur J. Gallagher & Co. from $235.00 to $225.00 and set a “hold” rating for the company in a report on Friday, May 1st. Barclays upped their price target on Arthur J. Gallagher & Co. from $262.00 to $275.00 and gave the stock an “overweight” rating in a report on Wednesday, April 8th. Morgan Stanley reduced their price target on Arthur J. Gallagher & Co. from $265.00 to $240.00 and set an “overweight” rating for the company in a report on Thursday, May 21st. Wells Fargo & Company reduced their price target on Arthur J. Gallagher & Co. from $273.00 to $266.00 and set an “overweight” rating for the company in a report on Thursday, April 9th. Finally, Royal Bank Of Canada initiated coverage on Arthur J. Gallagher & Co. in a report on Tuesday, March 17th. They issued an “outperform” rating and a $260.00 price target for the company. Thirteen equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $263.71.

Arthur J. Gallagher & Co. Profile

Arthur J. Gallagher & Co is a global insurance brokerage and risk management firm headquartered in Rolling Meadows, Illinois. Founded in 1927 by Arthur J. Gallagher, the company has grown from a regional broker into an international professional services organization that arranges insurance, provides consulting and designs risk-transfer solutions for commercial, industrial, public sector and individual clients.

The company’s core activities include property and casualty insurance brokerage, employee benefits consulting and administration, and a range of risk management services.