Arthur J. Gallagher & Co. $AJG Shares Acquired by PensionDanmark Pensionsforsikringsaktieselskab

PensionDanmark Pensionsforsikringsaktieselskab lifted its position in shares of Arthur J. Gallagher & Co. (NYSE:AJG) by 9.5% during the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 35,708 shares of the financial services provider’s stock after buying an additional 3,100 shares during the period. PensionDanmark Pensionsforsikringsaktieselskab’s holdings in Arthur J. Gallagher & Co. were worth $8,197,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Jump Financial LLC purchased a new stake in shares of Arthur J. Gallagher & Co. in the second quarter valued at $2,825,000. Qube Research & Technologies Ltd acquired a new position in Arthur J. Gallagher & Co. in the second quarter valued at $3,429,000. Treasurer of the State of North Carolina lifted its position in Arthur J. Gallagher & Co. by 5.3% during the second quarter. Treasurer of the State of North Carolina now owns 118,467 shares of the financial services provider’s stock worth $37,924,000 after buying an additional 5,947 shares during the period. Peapack Gladstone Financial Corp boosted its stake in Arthur J. Gallagher & Co. by 2,919.2% in the 2nd quarter. Peapack Gladstone Financial Corp now owns 19,987 shares of the financial services provider’s stock worth $6,398,000 after buying an additional 19,325 shares during the last quarter. Finally, Armistice Capital LLC purchased a new stake in Arthur J. Gallagher & Co. in the 2nd quarter valued at about $412,000. 85.53% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have recently commented on the stock. Weiss Ratings raised shares of Arthur J. Gallagher & Co. from a “hold (c-)” rating to a “hold (c)” rating in a research note on Monday, July 13th. Barclays boosted their target price on shares of Arthur J. Gallagher & Co. from $275.00 to $292.00 and gave the company an “overweight” rating in a report on Tuesday, July 7th. Wells Fargo & Company cut their price target on shares of Arthur J. Gallagher & Co. from $299.00 to $296.00 and set an “overweight” rating on the stock in a research note on Monday, August 3rd. Truist Financial lifted their price target on shares of Arthur J. Gallagher & Co. from $225.00 to $265.00 and gave the company a “hold” rating in a report on Friday, July 31st. Finally, Piper Sandler boosted their price objective on shares of Arthur J. Gallagher & Co. from $276.00 to $287.00 and gave the company an “overweight” rating in a research note on Friday, July 31st. Thirteen research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $287.65.

Arthur J. Gallagher & Co. Stock Down 1.7%

Shares of NYSE:AJG opened at $247.59 on Friday. The stock has a 50-day simple moving average of $236.28 and a 200-day simple moving average of $224.75. The stock has a market capitalization of $63.46 billion, a P/E ratio of 41.06, a PEG ratio of 1.28 and a beta of 0.50. Arthur J. Gallagher & Co. has a 1 year low of $190.75 and a 1 year high of $313.55. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.06 and a current ratio of 1.05.

Arthur J. Gallagher & Co. (NYSE:AJG) last announced its quarterly earnings results on Thursday, July 30th. The financial services provider reported $2.84 earnings per share 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 period in the previous year, the company posted $2.33 earnings per share. Arthur J. Gallagher & Co.’s revenue was up 24.3% compared to the same quarter last year. Equities analysts forecast that Arthur J. Gallagher & Co. will post 13.27 earnings per share for the current year.

Arthur J. Gallagher & Co. Announces Dividend

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

Insiders Place Their Bets

In related news, CAO Richard C. Cary sold 3,000 shares of the stock in a transaction 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 completion of the sale, the chief accounting officer directly owned 47,819 shares in the company, valued at approximately $9,850,714. This represents a 5.90% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 1.40% of the company’s stock.

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.