Danske Bank A S Buys New Position in Arthur J. Gallagher & Co. $AJG

Danske Bank A S acquired a new position in shares of Arthur J. Gallagher & Co. (NYSE:AJG) in the 2nd quarter, HoldingsChannel.com reports. The institutional investor acquired 153,468 shares of the financial services provider’s stock, valued at approximately $35,232,000.

Other hedge funds have also added to or reduced their stakes in the company. Kemnay Advisory Services Inc. bought a new stake in shares of Arthur J. Gallagher & Co. in the 4th quarter valued at $26,000. Axiom Investment Management LLC acquired a new position in Arthur J. Gallagher & Co. during the 1st quarter valued at about $28,000. Cassaday & Co Wealth Management LLC bought a new stake in Arthur J. Gallagher & Co. during the first quarter worth $29,000. MV Capital Management Inc. purchased a new stake in shares of Arthur J. Gallagher & Co. in the fourth quarter valued at about $34,000. Finally, Rakuten Securities Inc. increased its stake in Arthur J. Gallagher & Co. by 650.0% in the 2nd quarter. Rakuten Securities Inc. now owns 105 shares of the financial services provider’s stock valued at $34,000 after buying an additional 91 shares during the last quarter. 85.53% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Arthur J. Gallagher & Co. news, CAO Richard C. Cary sold 3,000 shares of the firm’s stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of $206.00, for a total value of $618,000.00. Following the completion of the sale, the chief accounting officer directly 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 sale was disclosed in a filing with the SEC, which is available at this link. 1.40% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on AJG shares. Weiss Ratings upgraded Arthur J. Gallagher & Co. from a “hold (c-)” rating to a “hold (c)” rating in a research note on Monday, July 13th. Truist Financial lifted their price target on Arthur J. Gallagher & Co. from $225.00 to $265.00 and gave the company a “hold” rating in a research report on Friday, July 31st. Barclays upped their target price on shares of Arthur J. Gallagher & Co. from $275.00 to $292.00 and gave the stock an “overweight” rating in a report on Tuesday, July 7th. Jefferies Financial Group upgraded Arthur J. Gallagher & Co. from a “hold” rating to a “buy” rating and upped their target price for the stock from $235.00 to $265.00 in a research note on Thursday, June 11th. Finally, Citigroup raised their price objective on shares of Arthur J. Gallagher & Co. from $250.00 to $285.00 and gave the company a “buy” rating in a research report on Tuesday, August 4th. Fourteen research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $290.28.

Arthur J. Gallagher & Co. Stock Performance

NYSE:AJG opened at $257.64 on Thursday. The firm has a market cap of $66.03 billion, a PE ratio of 42.73, a price-to-earnings-growth ratio of 1.52 and a beta of 0.50. Arthur J. Gallagher & Co. has a fifty-two week low of $190.75 and a fifty-two week high of $313.55. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.05 and a current ratio of 1.05. The business has a 50 day moving average price of $242.84 and a 200-day moving average price of $224.69.

Arthur J. Gallagher & Co. (NYSE:AJG) last released its quarterly earnings data on Thursday, July 30th. The financial services provider reported $2.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.81 by $0.03. Arthur J. Gallagher & Co. had a net margin of 9.96% and a return on equity of 13.28%. The firm had revenue of $3.95 billion for the quarter, compared to analysts’ expectations of $4.01 billion. During the same quarter in the previous year, the company earned $2.33 earnings per share. The company’s revenue for the quarter was up 24.3% compared to the same quarter last year. Equities research analysts predict that Arthur J. Gallagher & Co. will post 13.27 earnings per share for the current year.

Arthur J. Gallagher & Co. Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 18th. Shareholders of record on Tuesday, September 8th will be given a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date of this dividend is Tuesday, September 8th. Arthur J. Gallagher & Co.’s payout ratio is presently 46.43%.

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.