QRG Capital Management Inc. Has $2.88 Million Stock Holdings in Arthur J. Gallagher & Co. (NYSE:AJG)

QRG Capital Management Inc. grew its position in shares of Arthur J. Gallagher & Co. (NYSE:AJG) by 16.4% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 10,243 shares of the financial services provider’s stock after acquiring an additional 1,443 shares during the quarter. QRG Capital Management Inc.’s holdings in Arthur J. Gallagher & Co. were worth $2,882,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in AJG. Janus Henderson Group PLC grew its position in Arthur J. Gallagher & Co. by 180.6% in the first quarter. Janus Henderson Group PLC now owns 1,228,266 shares of the financial services provider’s stock valued at $307,076,000 after purchasing an additional 790,467 shares in the last quarter. Capital International Investors increased its position in shares of Arthur J. Gallagher & Co. by 7.0% in the first quarter. Capital International Investors now owns 11,050,941 shares of the financial services provider’s stock valued at $2,763,177,000 after acquiring an additional 727,325 shares during the last quarter. The Manufacturers Life Insurance Company raised its holdings in Arthur J. Gallagher & Co. by 219.6% during the second quarter. The Manufacturers Life Insurance Company now owns 1,043,769 shares of the financial services provider’s stock worth $270,660,000 after acquiring an additional 717,221 shares in the last quarter. Capital World Investors boosted its position in Arthur J. Gallagher & Co. by 9.0% during the first quarter. Capital World Investors now owns 4,832,060 shares of the financial services provider’s stock valued at $1,208,208,000 after purchasing an additional 398,350 shares during the last quarter. Finally, International Assets Investment Management LLC increased its position in shares of Arthur J. Gallagher & Co. by 29,927.4% during the 3rd quarter. International Assets Investment Management LLC now owns 232,412 shares of the financial services provider’s stock worth $65,394,000 after purchasing an additional 231,638 shares during the last quarter. 85.53% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Arthur J. Gallagher & Co.

In related news, President Michael Robert Pesch sold 7,100 shares of the stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $296.20, for a total transaction of $2,103,020.00. Following the sale, the president now owns 33,267 shares in the company, valued at approximately $9,853,685.40. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, CFO Douglas K. Howell sold 7,000 shares of the company’s stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $284.68, for a total transaction of $1,992,760.00. Following the completion of the sale, the chief financial officer now directly owns 75,963 shares in the company, valued at $21,625,146.84. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, President Michael Robert Pesch sold 7,100 shares of Arthur J. Gallagher & Co. stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $296.20, for a total value of $2,103,020.00. Following the completion of the transaction, the president now owns 33,267 shares in the company, valued at approximately $9,853,685.40. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 23,900 shares of company stock valued at $6,892,280 in the last ninety days. 1.60% of the stock is currently owned by company insiders.

Arthur J. Gallagher & Co. Trading Up 2.7 %

Shares of Arthur J. Gallagher & Co. stock opened at $290.65 on Thursday. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.06 and a current ratio of 1.06. The stock has a market cap of $63.77 billion, a PE ratio of 55.36, a PEG ratio of 2.39 and a beta of 0.72. Arthur J. Gallagher & Co. has a 52-week low of $218.63 and a 52-week high of $301.04. The firm has a 50-day moving average of $288.45 and a 200-day moving average of $272.10.

Arthur J. Gallagher & Co. (NYSE:AJG) last issued its quarterly earnings results on Thursday, October 24th. The financial services provider reported $2.26 earnings per share (EPS) for the quarter, meeting the consensus estimate of $2.26. Arthur J. Gallagher & Co. had a return on equity of 19.12% and a net margin of 10.40%. The business had revenue of $2.77 billion during the quarter, compared to analysts’ expectations of $2.78 billion. During the same period in the previous year, the company posted $2.00 earnings per share. The firm’s revenue for the quarter was up 12.8% compared to the same quarter last year. As a group, sell-side analysts forecast that Arthur J. Gallagher & Co. will post 10.11 EPS for the current year.

Arthur J. Gallagher & Co. Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Friday, December 6th will be paid a dividend of $0.60 per share. The ex-dividend date of this dividend is Friday, December 6th. This represents a $2.40 dividend on an annualized basis and a yield of 0.83%. Arthur J. Gallagher & Co.’s payout ratio is 45.71%.

Analyst Upgrades and Downgrades

Several research firms have issued reports on AJG. UBS Group upped their price target on shares of Arthur J. Gallagher & Co. from $260.00 to $292.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 31st. Piper Sandler upped their target price on shares of Arthur J. Gallagher & Co. from $254.00 to $293.00 and gave the company a “neutral” rating in a report on Friday, September 20th. TD Cowen lifted their price target on Arthur J. Gallagher & Co. from $273.00 to $288.00 and gave the stock a “hold” rating in a report on Tuesday, August 13th. BMO Capital Markets upped their price objective on Arthur J. Gallagher & Co. from $275.00 to $295.00 and gave the company an “outperform” rating in a research note on Friday, July 26th. Finally, Truist Financial lifted their target price on Arthur J. Gallagher & Co. from $265.00 to $275.00 and gave the stock a “hold” rating in a research note on Friday, September 20th. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, Arthur J. Gallagher & Co. presently has a consensus rating of “Hold” and a consensus price target of $287.00.

About Arthur J. Gallagher & Co.

Arthur J. Gallagher & Co, together with its subsidiaries, provides insurance and reinsurance brokerage, consulting, and third-party property/casualty claims settlement and administration services to entities and individuals worldwide. It operates in Brokerage and Risk Management segments. The Brokerage segment offers retail and wholesale insurance and reinsurance brokerage services; assists retail brokers and other non-affiliated brokers in the placement of specialized and hard-to-place insurance; and acts as a brokerage wholesaler, managing general agent, and managing general underwriter for distributing specialized insurance coverages to underwriting enterprises.