Arthur J. Gallagher & Co. $AJG Stock Purchased by Fifth Third Bancorp

Fifth Third Bancorp grew its position in shares of Arthur J. Gallagher & Co. (NYSE:AJG) by 4.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 221,369 shares of the financial services provider’s stock after acquiring an additional 8,630 shares during the quarter. Fifth Third Bancorp’s holdings in Arthur J. Gallagher & Co. were worth $51,237,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Gtcr LLC bought a new position in shares of Arthur J. Gallagher & Co. in the 1st quarter worth $514,112,000. Janus Henderson Group PLC increased its stake in Arthur J. Gallagher & Co. by 5.4% during the 1st quarter. Janus Henderson Group PLC now owns 1,970,990 shares of the financial services provider’s stock valued at $426,887,000 after purchasing an additional 101,431 shares in the last quarter. Bank of America Corp DE raised its holdings in Arthur J. Gallagher & Co. by 23.0% during the first quarter. Bank of America Corp DE now owns 1,854,488 shares of the financial services provider’s stock worth $401,645,000 after buying an additional 346,409 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in Arthur J. Gallagher & Co. by 0.3% during the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,453,774 shares of the financial services provider’s stock worth $333,743,000 after buying an additional 3,905 shares during the last quarter. Finally, Bank of New York Mellon Corp acquired a new position in Arthur J. Gallagher & Co. during the second quarter worth $289,484,000. 85.53% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Arthur J. Gallagher & Co.

In other news, VP William Ziebell sold 23,510 shares of the firm’s stock in a transaction that occurred on Wednesday, November 4th. The shares were sold at an average price of $286.62, for a total transaction of $6,738,436.20. Following the completion of the sale, the vice president owned 48,942 shares in the company, valued at $14,027,756.04. This trade represents a 32.45% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, General Counsel Walter Bay sold 12,000 shares of the company’s stock in a transaction that occurred on Monday, August 24th. The shares were sold at an average price of $270.08, for a total value of $3,240,960.00. Following the completion of the transaction, the general counsel owned 71,292 shares in the company, valued at approximately $19,254,543.36. The trade was a 14.41% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 105,616 shares of company stock valued at $29,193,156. Corporate insiders own 1.40% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the stock. Weiss Ratings upgraded shares of Arthur J. Gallagher & Co. from a “hold (c)” rating to a “hold (c+)” rating in a report on Monday. Citigroup lowered shares of Arthur J. Gallagher & Co. from a “buy” rating to a “neutral” rating and upped their target price for the stock from $285.00 to $300.00 in a report on Monday, November 2nd. Evercore raised their price target on shares of Arthur J. Gallagher & Co. from $295.00 to $307.00 and gave the company an “outperform” rating in a research report on Thursday, October 8th. Piper Sandler reaffirmed an “overweight” rating on shares of Arthur J. Gallagher & Co. in a research report on Thursday, September 24th. Finally, UBS Group lifted their price target on Arthur J. Gallagher & Co. from $299.00 to $320.00 and gave the company a “buy” rating in a research note on Monday, November 2nd. Thirteen research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $292.05.

Arthur J. Gallagher & Co. Trading Down 1.6%

NYSE:AJG opened at $277.40 on Friday. Arthur J. Gallagher & Co. has a 52 week low of $190.75 and a 52 week high of $294.53. The firm has a 50-day moving average price of $251.37 and a two-hundred day moving average price of $233.76. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.05 and a current ratio of 1.05. The firm has a market cap of $71.12 billion, a price-to-earnings ratio of 22.22, a price-to-earnings-growth ratio of 1.62 and a beta of 0.47.

Arthur J. Gallagher & Co. (NYSE:AJG) last announced its earnings results on Thursday, October 29th. The financial services provider reported $3.00 earnings per share for the quarter, topping analysts’ consensus estimates of $2.99 by $0.01. The firm had revenue of $3.92 billion for the quarter, compared to the consensus estimate of $3.98 billion. Arthur J. Gallagher & Co. had a return on equity of 13.90% and a net margin of 10.39%. The company’s revenue was up 19.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.32 EPS. On average, equities analysts expect that Arthur J. Gallagher & Co. will post 13.13 earnings per share for the current fiscal year.

Arthur J. Gallagher & Co. Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 18th. Shareholders of record on Monday, December 7th will be paid a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date is Monday, December 7th. Arthur J. Gallagher & Co.’s payout ratio is presently 42.81%.

About Arthur J. Gallagher & Co.

Arthur J. Gallagher & Co. is a global insurance brokerage and risk management services firm. It helps businesses and other organizations assess and manage risk, arrange insurance coverage, and address employee benefits needs. The company’s services include insurance brokerage, risk management consulting, employee benefits consulting, and claims and settlement services through its Gallagher Bassett business. It serves clients in the United States and internationally, including through a network of correspondent brokers.