Donor Advised Charitable Giving Inc. reduced its stake in Arthur J. Gallagher & Co. (NYSE:AJG - Free Report) by 26.5% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 19,480 shares of the financial services provider's stock after selling 7,040 shares during the period. Arthur J. Gallagher & Co. accounts for about 0.1% of Donor Advised Charitable Giving Inc.'s investment portfolio, making the stock its 3rd biggest holding. Donor Advised Charitable Giving Inc.'s holdings in Arthur J. Gallagher & Co. were worth $5,481,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Norden Group LLC acquired a new position in Arthur J. Gallagher & Co. in the first quarter valued at approximately $3,841,000. Brookstone Capital Management raised its holdings in shares of Arthur J. Gallagher & Co. by 70.4% during the first quarter. Brookstone Capital Management now owns 12,851 shares of the financial services provider's stock valued at $3,213,000 after buying an additional 5,308 shares during the last quarter. Sei Investments Co. raised its holdings in shares of Arthur J. Gallagher & Co. by 11.7% during the first quarter. Sei Investments Co. now owns 194,568 shares of the financial services provider's stock valued at $48,649,000 after buying an additional 20,302 shares during the last quarter. Nomura Holdings Inc. bought a new stake in shares of Arthur J. Gallagher & Co. during the fourth quarter valued at approximately $979,000. Finally, Swedbank AB bought a new stake in shares of Arthur J. Gallagher & Co. during the first quarter valued at approximately $3,297,000. 85.53% of the stock is currently owned by institutional investors and hedge funds.
AJG has been the topic of a number of recent analyst reports. TD Cowen lifted their price target on Arthur J. Gallagher & Co. from $273.00 to $288.00 and gave the company a "hold" rating in a report on Tuesday, August 13th. Wells Fargo & Company lifted their price target on Arthur J. Gallagher & Co. from $309.00 to $315.00 and gave the company an "overweight" rating in a report on Thursday, October 10th. Bank Of America (Bofa) lifted their price target on Arthur J. Gallagher & Co. from $255.00 to $265.00 and gave the company an "underperform" rating in a report on Friday, July 26th. Barclays started coverage on Arthur J. Gallagher & Co. in a report on Wednesday, September 4th. They set an "equal weight" rating and a $300.00 target price on the stock. Finally, Royal Bank of Canada boosted their target price on Arthur J. Gallagher & Co. from $310.00 to $320.00 and gave the stock an "outperform" rating in a report on Friday, September 20th. 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 data from MarketBeat.com, Arthur J. Gallagher & Co. presently has an average rating of "Hold" and an average target price of $287.00.
Get Our Latest Stock Report on AJG
In other news, 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 in the company, valued at $93,121,853.04. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other news, 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 in the company, valued at $93,121,853.04. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Douglas K. Howell sold 8,710 shares of the business's stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $285.07, for a total transaction of $2,482,959.70. Following the transaction, the chief financial officer now owns 75,963 shares in the company, valued at approximately $21,654,772.41. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 44,145 shares of company stock worth $12,622,660. Corporate insiders own 1.60% of the company's stock.
NYSE AJG opened at $287.43 on Wednesday. Arthur J. Gallagher & Co. has a 1 year low of $218.63 and a 1 year high of $301.04. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.04 and a current ratio of 1.04. The stock has a market capitalization of $62.80 billion, a P/E ratio of 58.18, a P/E/G ratio of 2.53 and a beta of 0.72. The business's fifty day moving average is $288.39 and its two-hundred day moving average is $267.04.
Arthur J. Gallagher & Co. (NYSE:AJG - Get Free Report) last posted its quarterly earnings data on Thursday, July 25th. The financial services provider reported $2.26 earnings per share for the quarter, topping the consensus estimate of $2.24 by $0.02. Arthur J. Gallagher & Co. had a net margin of 10.41% and a return on equity of 19.25%. The firm had revenue of $2.73 billion for the quarter, compared to analysts' expectations of $2.77 billion. During the same period in the previous year, the company posted $1.90 EPS. The company's quarterly revenue was up 14.3% compared to the same quarter last year. On average, research analysts forecast that Arthur J. Gallagher & Co. will post 10.11 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, September 20th. Shareholders of record on Friday, September 6th were given a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 0.83%. The ex-dividend date of this dividend was Friday, September 6th. Arthur J. Gallagher & Co.'s payout ratio is 48.58%.
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.
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider Arthur J. Gallagher & Co., you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Arthur J. Gallagher & Co. wasn't on the list.
While Arthur J. Gallagher & Co. currently has a "Hold" rating among analysts, top-rated analysts believe these five stocks are better buys.