APG Asset Management N.V. Has $213.45 Million Holdings in Arthur J. Gallagher & Co. $AJG

APG Asset Management N.V. boosted its stake in shares of Arthur J. Gallagher & Co. (NYSE:AJG) by 91.9% during the 1st quarter, Holdings Channel.com reports. The institutional investor owned 667,854 shares of the financial services provider’s stock after purchasing an additional 319,820 shares during the quarter. APG Asset Management N.V.’s holdings in Arthur J. Gallagher & Co. were worth $213,451,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Smartleaf Asset Management LLC raised its holdings in Arthur J. Gallagher & Co. by 2.1% during the 1st quarter. Smartleaf Asset Management LLC now owns 2,029 shares of the financial services provider’s stock worth $691,000 after buying an additional 42 shares during the period. Northwestern Mutual Wealth Management Co. raised its holdings in Arthur J. Gallagher & Co. by 11.0% during the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 14,693 shares of the financial services provider’s stock worth $5,073,000 after buying an additional 1,457 shares during the period. AlphaQuest LLC acquired a new stake in Arthur J. Gallagher & Co. during the 1st quarter worth about $33,000. Allstate Corp raised its holdings in Arthur J. Gallagher & Co. by 79.2% during the 1st quarter. Allstate Corp now owns 12,484 shares of the financial services provider’s stock worth $4,310,000 after buying an additional 5,518 shares during the period. Finally, Gitterman Wealth Management LLC acquired a new stake in Arthur J. Gallagher & Co. during the 1st quarter worth about $230,000. Institutional investors and hedge funds own 85.53% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on AJG. Erste Group Bank restated a “hold” rating on shares of Arthur J. Gallagher & Co. in a report on Wednesday, July 23rd. Piper Sandler lifted their target price on Arthur J. Gallagher & Co. from $352.00 to $372.00 and gave the company an “overweight” rating in a research note on Friday, August 1st. Barclays lowered their target price on Arthur J. Gallagher & Co. from $346.00 to $327.00 and set an “equal weight” rating on the stock in a research note on Monday, July 7th. UBS Group lowered their target price on Arthur J. Gallagher & Co. from $345.00 to $322.00 and set a “neutral” rating on the stock in a research note on Monday, August 4th. Finally, Cantor Fitzgerald raised Arthur J. Gallagher & Co. to a “strong-buy” rating in a research note on Wednesday, August 13th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $331.07.

Arthur J. Gallagher & Co. Trading Down 0.8%

Shares of NYSE AJG opened at $302.8250 on Friday. The stock has a market cap of $77.64 billion, a price-to-earnings ratio of 43.01 and a beta of 0.68. The business has a 50 day simple moving average of $306.50 and a 200 day simple moving average of $322.31. Arthur J. Gallagher & Co. has a 52 week low of $274.25 and a 52 week high of $351.23. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.36 and a current ratio of 1.36.

Arthur J. Gallagher & Co. (NYSE:AJG) last announced its quarterly earnings results on Thursday, July 31st. The financial services provider reported $2.33 EPS for the quarter, missing the consensus estimate of $2.36 by ($0.03). The firm had revenue of $3.18 billion during the quarter, compared to the consensus estimate of $3.20 billion. Arthur J. Gallagher & Co. had a net margin of 14.54% and a return on equity of 13.17%. The company’s quarterly revenue was up 16.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.29 EPS. On average, research analysts predict that Arthur J. Gallagher & Co. will post 11.54 earnings per share for the current fiscal year.

Arthur J. Gallagher & Co. Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, September 19th. Investors of record on Friday, September 5th will be paid a $0.65 dividend. The ex-dividend date of this dividend is Friday, September 5th. This represents a $2.60 annualized dividend and a dividend yield of 0.9%. Arthur J. Gallagher & Co.’s payout ratio is presently 36.93%.

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.