Resona Asset Management Co. Ltd. Has $30.91 Million Stake in Arthur J. Gallagher & Co. $AJG

Resona Asset Management Co. Ltd. reduced its stake in Arthur J. Gallagher & Co. (NYSE:AJG) by 4.9% in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 99,951 shares of the financial services provider’s stock after selling 5,133 shares during the quarter. Resona Asset Management Co. Ltd.’s holdings in Arthur J. Gallagher & Co. were worth $30,906,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Norges Bank acquired a new stake in shares of Arthur J. Gallagher & Co. in the second quarter worth $1,536,230,000. Sands Capital Management LLC raised its holdings in Arthur J. Gallagher & Co. by 453.3% in the 2nd quarter. Sands Capital Management LLC now owns 1,121,249 shares of the financial services provider’s stock worth $358,934,000 after acquiring an additional 918,618 shares during the period. Balyasny Asset Management L.P. lifted its position in Arthur J. Gallagher & Co. by 41,475.5% during the 2nd quarter. Balyasny Asset Management L.P. now owns 770,394 shares of the financial services provider’s stock worth $246,619,000 after acquiring an additional 768,541 shares during the last quarter. Vanguard Group Inc. boosted its holdings in Arthur J. Gallagher & Co. by 2.3% during the second quarter. Vanguard Group Inc. now owns 31,096,542 shares of the financial services provider’s stock valued at $9,954,625,000 after acquiring an additional 685,278 shares during the period. Finally, Invesco Ltd. grew its position in shares of Arthur J. Gallagher & Co. by 27.2% in the second quarter. Invesco Ltd. now owns 2,354,632 shares of the financial services provider’s stock valued at $753,765,000 after purchasing an additional 503,205 shares during the last quarter. Institutional investors and hedge funds own 85.53% of the company’s stock.

Arthur J. Gallagher & Co. Stock Up 1.1%

Shares of AJG stock opened at $253.13 on Friday. Arthur J. Gallagher & Co. has a one year low of $236.34 and a one year high of $351.23. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.06 and a quick ratio of 1.06. The stock has a fifty day moving average price of $253.76 and a 200 day moving average price of $278.69. The stock has a market cap of $65.00 billion, a P/E ratio of 37.84 and a beta of 0.67.

Arthur J. Gallagher & Co. (NYSE:AJG) last announced its quarterly earnings data on Thursday, October 30th. The financial services provider reported $2.32 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.51 by ($0.19). Arthur J. Gallagher & Co. had a net margin of 13.58% and a return on equity of 11.98%. The business had revenue of $3.33 billion during the quarter, compared to analyst estimates of $3.34 billion. During the same quarter in the prior year, the company posted $2.26 EPS. The company’s quarterly revenue was up 20.2% compared to the same quarter last year. Analysts predict that Arthur J. Gallagher & Co. will post 11.54 earnings per share for the current year.

Arthur J. Gallagher & Co. Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 19th. Shareholders of record on Friday, December 5th were issued a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date of this dividend was Friday, December 5th. Arthur J. Gallagher & Co.’s payout ratio is presently 38.86%.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. Needham & Company LLC set a $272.00 target price on Arthur J. Gallagher & Co. in a research note on Thursday, December 18th. Weiss Ratings reissued a “hold (c+)” rating on shares of Arthur J. Gallagher & Co. in a research report on Monday, December 29th. Mizuho set a $277.00 price objective on shares of Arthur J. Gallagher & Co. in a research note on Wednesday, January 14th. BMO Capital Markets cut shares of Arthur J. Gallagher & Co. from an “outperform” rating to a “market perform” rating and cut their target price for the company from $289.00 to $275.00 in a research note on Tuesday, January 13th. Finally, Keefe, Bruyette & Woods raised their price target on shares of Arthur J. Gallagher & Co. from $272.00 to $279.00 and gave the stock a “market perform” rating in a research report on Tuesday, January 6th. Seven equities research analysts have rated the stock with a Buy rating, twelve have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Arthur J. Gallagher & Co. currently has a consensus rating of “Hold” and an average target price of $290.50.

Insider Buying and Selling

In other Arthur J. Gallagher & Co. news, CAO Richard C. Cary sold 6,000 shares of the company’s stock in a transaction on Tuesday, November 18th. The stock was sold at an average price of $261.00, for a total value of $1,566,000.00. Following the sale, the chief accounting officer directly owned 50,668 shares in the company, valued at $13,224,348. This represents a 10.59% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, VP Christopher E. Mead sold 4,000 shares of Arthur J. Gallagher & Co. stock in a transaction on Tuesday, December 23rd. The shares were sold at an average price of $258.11, for a total value of $1,032,440.00. Following the transaction, the vice president directly owned 17,327 shares of the company’s stock, valued at approximately $4,472,271.97. The trade was a 18.76% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 32,100 shares of company stock worth $8,243,865. Insiders own 1.60% of the company’s stock.

Arthur J. Gallagher & Co. Company 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.