Metis Global Partners LLC Boosts Stake in Arthur J. Gallagher & Co. (NYSE:AJG)

Metis Global Partners LLC increased its holdings in Arthur J. Gallagher & Co. (NYSE:AJG) by 17.9% in the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 9,389 shares of the financial services provider’s stock after buying an additional 1,426 shares during the quarter. Metis Global Partners LLC’s holdings in Arthur J. Gallagher & Co. were worth $2,642,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of AJG. Janus Henderson Group PLC grew its position in Arthur J. Gallagher & Co. by 180.6% in the 1st quarter. Janus Henderson Group PLC now owns 1,228,266 shares of the financial services provider’s stock worth $307,076,000 after purchasing an additional 790,467 shares during the period. Capital International Investors grew its holdings 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 worth $2,763,177,000 after acquiring an additional 727,325 shares during the period. The Manufacturers Life Insurance Company increased its position 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 valued at $270,660,000 after acquiring an additional 717,221 shares during the last quarter. Principal Financial Group Inc. lifted its holdings in Arthur J. Gallagher & Co. by 231.2% in the third quarter. Principal Financial Group Inc. now owns 885,796 shares of the financial services provider’s stock valued at $249,237,000 after acquiring an additional 618,362 shares during the period. Finally, Capital World Investors boosted its position in Arthur J. Gallagher & Co. by 9.0% in the first quarter. Capital World Investors now owns 4,832,060 shares of the financial services provider’s stock worth $1,208,208,000 after purchasing an additional 398,350 shares during the last quarter. Hedge funds and other institutional investors own 85.53% of the company’s stock.

Wall Street Analyst Weigh In

AJG has been the topic of several recent research reports. Bank of America increased their price objective on shares of Arthur J. Gallagher & Co. from $271.00 to $293.00 and gave the stock an “underperform” rating in a research note on Thursday, October 10th. BMO Capital Markets lifted their price target on shares of Arthur J. Gallagher & Co. from $312.00 to $325.00 and gave the stock an “outperform” rating in a research note on Tuesday. Piper Sandler raised their target price on Arthur J. Gallagher & Co. from $254.00 to $293.00 and gave the stock a “neutral” rating in a report on Friday, September 20th. Barclays initiated coverage on Arthur J. Gallagher & Co. in a report on Wednesday, September 4th. They set an “equal weight” rating and a $300.00 price target for the company. Finally, Royal Bank of Canada lifted their price objective on Arthur J. Gallagher & Co. from $310.00 to $320.00 and gave the company an “outperform” rating in a research report on Friday, September 20th. Three equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $289.14.

Arthur J. Gallagher & Co. Stock Down 1.2 %

Shares of AJG stock opened at $294.63 on Friday. The company’s fifty day simple moving average is $288.50 and its two-hundred day simple moving average is $274.11. Arthur J. Gallagher & Co. has a 52 week low of $218.63 and a 52 week high of $301.04. The stock has a market cap of $64.64 billion, a P/E ratio of 56.12, a PEG ratio of 2.51 and a beta of 0.72. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.64.

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

Arthur J. Gallagher & Co. Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Friday, December 6th will be given a $0.60 dividend. The ex-dividend date of this dividend is Friday, December 6th. This represents a $2.40 annualized dividend and a yield of 0.81%. Arthur J. Gallagher & Co.’s dividend payout ratio is currently 45.71%.

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

In related news, VP Christopher E. Mead sold 2,800 shares of Arthur J. Gallagher & Co. stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $287.00, for a total transaction of $803,600.00. Following the completion of the transaction, the vice president now directly owns 14,674 shares of the company’s stock, valued at approximately $4,211,438. The trade was a 16.02 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Douglas K. Howell sold 7,000 shares of the stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $284.70, for a total transaction of $1,992,900.00. Following the completion of the sale, the chief financial officer now directly owns 75,963 shares in the company, valued at $21,626,666.10. This trade represents a 8.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 23,900 shares of company stock worth $6,892,280 over the last ninety days. Company insiders own 1.60% of the company’s stock.

Arthur J. Gallagher & Co. Profile

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.