Tokio Marine Asset Management Co. Ltd. Buys 709 Shares of Arthur J. Gallagher & Co. (NYSE:AJG)

Tokio Marine Asset Management Co. Ltd. grew its position in Arthur J. Gallagher & Co. (NYSE:AJG) by 12.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,268 shares of the financial services provider’s stock after purchasing an additional 709 shares during the quarter. Tokio Marine Asset Management Co. Ltd.’s holdings in Arthur J. Gallagher & Co. were worth $1,764,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. W Advisors LLC raised its position in Arthur J. Gallagher & Co. by 2.4% in the 3rd quarter. W Advisors LLC now owns 1,514 shares of the financial services provider’s stock worth $426,000 after purchasing an additional 36 shares during the period. Miracle Mile Advisors LLC raised its holdings in shares of Arthur J. Gallagher & Co. by 0.8% in the third quarter. Miracle Mile Advisors LLC now owns 4,583 shares of the financial services provider’s stock worth $1,289,000 after buying an additional 38 shares during the period. Covenant Partners LLC lifted its stake in shares of Arthur J. Gallagher & Co. by 0.7% during the 3rd quarter. Covenant Partners LLC now owns 5,326 shares of the financial services provider’s stock worth $1,499,000 after acquiring an additional 38 shares during the last quarter. Disciplined Investments LLC boosted its holdings in Arthur J. Gallagher & Co. by 0.7% during the 3rd quarter. Disciplined Investments LLC now owns 5,849 shares of the financial services provider’s stock valued at $1,635,000 after acquiring an additional 38 shares during the period. Finally, Signaturefd LLC grew its position in Arthur J. Gallagher & Co. by 1.0% in the 2nd quarter. Signaturefd LLC now owns 3,825 shares of the financial services provider’s stock valued at $992,000 after acquiring an additional 39 shares during the last quarter. 85.53% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. Bank Of America (Bofa) boosted their target price on shares of Arthur J. Gallagher & Co. from $255.00 to $265.00 and gave the company an “underperform” rating in a research note on Friday, July 26th. TD Cowen upped their target price on shares of Arthur J. Gallagher & Co. from $273.00 to $288.00 and gave the stock a “hold” rating in a research note on Tuesday, August 13th. Jefferies Financial Group lifted their price target on shares of Arthur J. Gallagher & Co. from $269.00 to $274.00 and gave the company a “hold” rating in a research note on Wednesday, October 9th. Bank of America increased their price objective on 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. Finally, Truist Financial lifted their target price on Arthur J. Gallagher & Co. from $265.00 to $275.00 and gave the company a “hold” rating in a research report on Friday, September 20th. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $289.14.

Insider Activity

In related news, CFO Douglas K. Howell sold 7,000 shares of the firm’s stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $284.68, for a total value of $1,992,760.00. Following the completion of the transaction, the chief financial officer now owns 75,963 shares in the company, valued at $21,625,146.84. This trade represents a 8.44 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Christopher E. Mead sold 2,800 shares of the business’s stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $287.00, for a total value of $803,600.00. Following the sale, the vice president now owns 14,674 shares in the company, valued at approximately $4,211,438. The trade was a 16.02 % 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 worth $6,892,280 over the last 90 days. 1.60% of the stock is currently owned by corporate insiders.

Arthur J. Gallagher & Co. Stock Down 1.2 %

NYSE:AJG opened at $294.63 on Friday. 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 capitalization of $64.64 billion, a P/E ratio of 56.12, a P/E/G ratio of 2.51 and a beta of 0.72. The company’s 50-day simple moving average is $288.50 and its 200-day simple moving average is $274.11. Arthur J. Gallagher & Co. has a fifty-two week low of $218.63 and a fifty-two week high of $301.04.

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

Arthur J. Gallagher & Co. Announces Dividend

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

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.