DNB Asset Management AS Increases Holdings in Arthur J. Gallagher & Co. (NYSE:AJG)

DNB Asset Management AS increased its holdings in shares of Arthur J. Gallagher & Co. (NYSE:AJGGet Rating) by 6.0% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 29,809 shares of the financial services provider’s stock after purchasing an additional 1,682 shares during the period. DNB Asset Management AS’s holdings in Arthur J. Gallagher & Co. were worth $5,205,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also made changes to their positions in the company. Evoke Wealth LLC boosted its position in Arthur J. Gallagher & Co. by 394.7% during the 4th quarter. Evoke Wealth LLC now owns 188 shares of the financial services provider’s stock worth $32,000 after purchasing an additional 150 shares during the period. Country Trust Bank purchased a new position in Arthur J. Gallagher & Co. in the 4th quarter valued at about $38,000. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA purchased a new position in Arthur J. Gallagher & Co. in the 4th quarter valued at about $51,000. Covestor Ltd purchased a new position in Arthur J. Gallagher & Co. in the 4th quarter valued at about $52,000. Finally, Alpha Paradigm Partners LLC purchased a new position in Arthur J. Gallagher & Co. in the 4th quarter valued at about $54,000. 84.18% of the stock is owned by hedge funds and other institutional investors.

AJG opened at $157.31 on Thursday. The firm has a market cap of $33.05 billion, a price-to-earnings ratio of 34.65, a price-to-earnings-growth ratio of 1.99 and a beta of 0.70. Arthur J. Gallagher & Co. has a fifty-two week low of $135.50 and a fifty-two week high of $187.02. The company’s 50-day moving average price is $163.84 and its 200 day moving average price is $163.34. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.64.

Arthur J. Gallagher & Co. (NYSE:AJGGet Rating) last released its quarterly earnings data on Thursday, April 28th. The financial services provider reported $2.81 earnings per share for the quarter, topping the consensus estimate of $2.77 by $0.04. The firm had revenue of $2.40 billion for the quarter, compared to analyst estimates of $2.40 billion. Arthur J. Gallagher & Co. had a net margin of 11.41% and a return on equity of 15.45%. Arthur J. Gallagher & Co.’s quarterly revenue was up 12.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.02 earnings per share. Research analysts anticipate that Arthur J. Gallagher & Co. will post 7.77 earnings per share for the current year.

The company also recently announced a quarterly dividend, which was paid on Friday, June 17th. Shareholders of record on Friday, June 3rd were given a $0.51 dividend. This represents a $2.04 annualized dividend and a yield of 1.30%. Arthur J. Gallagher & Co.’s dividend payout ratio (DPR) is 44.93%.

A number of equities analysts have weighed in on the stock. Wells Fargo & Company upped their price objective on shares of Arthur J. Gallagher & Co. from $193.00 to $209.00 and gave the company an “overweight” rating in a research report on Tuesday, April 12th. Raymond James upgraded shares of Arthur J. Gallagher & Co. from an “outperform” rating to a “strong-buy” rating and upped their target price for the company from $185.00 to $195.00 in a research note on Monday, May 2nd. Evercore ISI set a $195.00 target price on shares of Arthur J. Gallagher & Co. in a research note on Monday. UBS Group began coverage on shares of Arthur J. Gallagher & Co. in a research note on Monday, April 18th. They issued a “neutral” rating and a $192.00 target price on the stock. Finally, Jefferies Financial Group cut their target price on shares of Arthur J. Gallagher & Co. from $214.00 to $211.00 in a research note on Thursday, June 16th. Five equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Arthur J. Gallagher & Co. has an average rating of “Moderate Buy” and an average target price of $183.11.

In other Arthur J. Gallagher & Co. news, insider Susan E. Pietrucha sold 4,966 shares of the company’s stock in a transaction dated Tuesday, June 7th. The shares were sold at an average price of $162.04, for a total value of $804,690.64. Following the completion of the transaction, the insider now owns 17,160 shares in the company, valued at approximately $2,780,606.40. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, VP William F. Ziebell sold 29,434 shares of the company’s stock in a transaction dated Thursday, June 16th. The stock was sold at an average price of $149.27, for a total transaction of $4,393,613.18. Following the completion of the transaction, the vice president now owns 27,614 shares of the company’s stock, valued at approximately $4,121,941.78. The disclosure for this sale can be found here. 1.40% of the stock is currently owned by corporate insiders.

About Arthur J. Gallagher & Co. (Get Rating)

Arthur J. Gallagher & Co, together with its subsidiaries, provides insurance brokerage, consulting, third-party claims settlement, and administration services in the United States, Australia, Bermuda, Canada, the Caribbean, New Zealand, India, and the United Kingdom. It operates through Brokerage and Risk Management segments.

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Institutional Ownership by Quarter for Arthur J. Gallagher & Co. (NYSE:AJG)

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