Elo Mutual Pension Insurance Co Buys New Holdings in Arthur J. Gallagher & Co. $AJG

Elo Mutual Pension Insurance Co purchased a new position in shares of Arthur J. Gallagher & Co. (NYSE:AJG) in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 19,420 shares of the financial services provider’s stock, valued at approximately $6,217,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. JPMorgan Chase & Co. boosted its stake in shares of Arthur J. Gallagher & Co. by 38.3% during the 1st quarter. JPMorgan Chase & Co. now owns 17,372,745 shares of the financial services provider’s stock worth $5,997,767,000 after acquiring an additional 4,815,007 shares during the period. Vanguard Group Inc. lifted its holdings in Arthur J. Gallagher & Co. by 2.5% during the 1st quarter. Vanguard Group Inc. now owns 30,411,264 shares of the financial services provider’s stock valued at $10,499,185,000 after purchasing an additional 739,130 shares during the last quarter. Nuveen LLC bought a new position in Arthur J. Gallagher & Co. during the first quarter worth $240,665,000. 1832 Asset Management L.P. increased its holdings in shares of Arthur J. Gallagher & Co. by 3,142.2% in the first quarter. 1832 Asset Management L.P. now owns 640,911 shares of the financial services provider’s stock valued at $221,268,000 after purchasing an additional 621,143 shares during the last quarter. Finally, Global Retirement Partners LLC bought a new position in shares of Arthur J. Gallagher & Co. in the second quarter valued at about $160,922,000. Institutional investors own 85.53% of the company’s stock.

Insider Transactions at Arthur J. Gallagher & Co.

In other news, CFO Douglas K. Howell sold 8,000 shares of the business’s stock in a transaction that occurred on Monday, September 22nd. The shares were sold at an average price of $299.54, for a total value of $2,396,320.00. Following the completion of the transaction, the chief financial officer directly owned 100,777 shares in the company, valued at approximately $30,186,742.58. The trade was a 7.35% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Christopher E. Mead sold 1,250 shares of the company’s stock in a transaction that occurred on Friday, November 21st. The stock was sold at an average price of $250.74, for a total transaction of $313,425.00. Following the sale, the vice president directly owned 17,327 shares of the company’s stock, valued at approximately $4,344,571.98. This trade represents a 6.73% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 37,105 shares of company stock worth $10,796,353. Corporate insiders own 1.60% of the company’s stock.

Arthur J. Gallagher & Co. Trading Up 0.9%

Shares of NYSE:AJG opened at $250.43 on Wednesday. The business’s 50 day simple moving average is $278.74 and its 200 day simple moving average is $300.61. Arthur J. Gallagher & Co. has a 1 year low of $239.47 and a 1 year high of $351.23. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.36 and a quick ratio of 1.36. The company has a market capitalization of $64.31 billion, a P/E ratio of 35.57 and a beta of 0.71.

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 for the quarter, missing the consensus estimate of $2.51 by ($0.19). The company had revenue of $3.33 billion during the quarter, compared to analyst estimates of $3.34 billion. Arthur J. Gallagher & Co. had a net margin of 14.54% and a return on equity of 13.17%. Arthur J. Gallagher & Co.’s revenue was up 20.2% on a year-over-year basis. During the same period in the prior year, the firm earned $2.26 earnings per share. On average, research analysts anticipate that Arthur J. Gallagher & Co. will post 11.54 EPS for the current fiscal year.

Arthur J. Gallagher & Co. Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 19th. Shareholders of record on Friday, December 5th will be paid 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 is Friday, December 5th. Arthur J. Gallagher & Co.’s dividend payout ratio is presently 38.86%.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on AJG. UBS Group upped their price target on shares of Arthur J. Gallagher & Co. from $322.00 to $329.00 and gave the company a “neutral” rating in a research note on Friday, September 19th. Evercore ISI decreased their target price on Arthur J. Gallagher & Co. from $370.00 to $353.00 and set an “outperform” rating on the stock in a research report on Friday, October 31st. Weiss Ratings reiterated a “buy (b-)” rating on shares of Arthur J. Gallagher & Co. in a research note on Wednesday, October 8th. Wolfe Research started coverage on Arthur J. Gallagher & Co. in a research note on Thursday, November 20th. They issued an “outperform” rating and a $291.00 price target for the company. Finally, Cantor Fitzgerald upgraded Arthur J. Gallagher & Co. to a “strong-buy” rating in a research report on Wednesday, August 13th. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $316.33.

Arthur J. Gallagher & Co. Profile

Arthur J. Gallagher & Co engages in the provision of insurance brokerage, reinsurance brokerage, consulting, and third-party claims settlement and administration services. It operates through the following segments: Brokerage, Risk Management, and Corporate. The Brokerage segment consists of retail and wholesale insurance brokerage operations.