Arthur J. Gallagher & Co. $AJG Shares Acquired by Nordea Investment Management AB

Nordea Investment Management AB raised its stake in Arthur J. Gallagher & Co. (NYSE:AJG) by 10.3% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 28,216 shares of the financial services provider’s stock after purchasing an additional 2,633 shares during the quarter. Nordea Investment Management AB’s holdings in Arthur J. Gallagher & Co. were worth $8,665,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. SeaCrest Wealth Management LLC boosted its holdings in Arthur J. Gallagher & Co. by 2.3% in the 2nd quarter. SeaCrest Wealth Management LLC now owns 1,542 shares of the financial services provider’s stock worth $494,000 after acquiring an additional 34 shares during the period. Tritonpoint Wealth LLC grew its holdings in Arthur J. Gallagher & Co. by 1.1% during the 2nd quarter. Tritonpoint Wealth LLC now owns 3,222 shares of the financial services provider’s stock valued at $1,032,000 after purchasing an additional 35 shares in the last quarter. D.A. Davidson & CO. increased its stake in Arthur J. Gallagher & Co. by 1.2% during the 2nd quarter. D.A. Davidson & CO. now owns 2,892 shares of the financial services provider’s stock worth $926,000 after buying an additional 35 shares during the period. Parkside Financial Bank & Trust lifted its holdings in Arthur J. Gallagher & Co. by 6.5% in the 2nd quarter. Parkside Financial Bank & Trust now owns 570 shares of the financial services provider’s stock worth $182,000 after buying an additional 35 shares in the last quarter. Finally, Dorsey & Whitney Trust CO LLC boosted its position in Arthur J. Gallagher & Co. by 1.4% in the 2nd quarter. Dorsey & Whitney Trust CO LLC now owns 2,623 shares of the financial services provider’s stock valued at $840,000 after buying an additional 35 shares during the last quarter. Institutional investors and hedge funds own 85.53% of the company’s stock.

Analyst Upgrades and Downgrades

AJG has been the topic of several recent analyst reports. Piper Sandler cut Arthur J. Gallagher & Co. from an “overweight” rating to a “neutral” rating and cut their price target for the stock from $276.00 to $272.00 in a research note on Wednesday, January 7th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Arthur J. Gallagher & Co. in a research report on Monday, December 29th. Barclays decreased their price target on shares of Arthur J. Gallagher & Co. from $250.00 to $247.00 and set an “underweight” rating for the company in a research report on Thursday, January 8th. Wall Street Zen cut shares of Arthur J. Gallagher & Co. from a “hold” rating to a “sell” rating in a report on Saturday, November 1st. Finally, Cantor Fitzgerald downgraded shares of Arthur J. Gallagher & Co. from an “overweight” rating to a “neutral” rating and reduced their price objective for the company from $344.00 to $282.00 in a research note on Wednesday. Seven analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $290.50.

Arthur J. Gallagher & Co. Stock Up 0.8%

Shares of NYSE:AJG opened at $258.32 on Friday. Arthur J. Gallagher & Co. has a 1-year low of $236.34 and a 1-year high of $351.23. The company’s fifty day moving average is $253.96 and its two-hundred day moving average is $281.14. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.06 and a current ratio of 1.06. The stock has a market capitalization of $66.34 billion, a price-to-earnings ratio of 38.61 and a beta of 0.67.

Arthur J. Gallagher & Co. (NYSE:AJG) last announced its quarterly earnings data on Thursday, October 30th. The financial services provider reported $2.32 earnings per share for the quarter, missing analysts’ consensus estimates of $2.51 by ($0.19). Arthur J. Gallagher & Co. had a net margin of 13.58% and a return on equity of 11.98%. The business had revenue of $3.33 billion for the quarter, compared to the consensus estimate of $3.34 billion. During the same period in the prior year, the company earned $2.26 EPS. Arthur J. Gallagher & Co.’s quarterly revenue was up 20.2% on a year-over-year basis. Equities analysts anticipate that Arthur J. Gallagher & Co. will post 11.54 EPS for the current year.

Arthur J. Gallagher & Co. Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, December 19th. Investors of record on Friday, December 5th were issued a $0.65 dividend. The ex-dividend date of this dividend was Friday, December 5th. This represents a $2.60 annualized dividend and a dividend yield of 1.0%. Arthur J. Gallagher & Co.’s dividend payout ratio (DPR) is 38.86%.

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

In other news, General Counsel Walter D. Bay sold 15,850 shares of the company’s stock in a transaction dated Friday, December 19th. The shares were sold at an average price of $255.00, for a total transaction of $4,041,750.00. Following the completion of the transaction, the general counsel owned 79,549 shares in the company, valued at approximately $20,284,995. This represents a 16.61% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Michael Robert Pesch acquired 4,000 shares of the company’s stock in a transaction that occurred on Monday, November 3rd. The stock was purchased at an average cost of $247.12 per share, for a total transaction of $988,480.00. Following the acquisition, the vice president owned 41,849 shares in the company, valued at approximately $10,341,724.88. This trade represents a 10.57% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Over the last ninety days, insiders have sold 32,100 shares of company stock worth $8,243,865. 1.60% of the stock is owned by company insiders.

Arthur J. Gallagher & Co. Company Profile

Arthur J. Gallagher & Co is a global insurance brokerage and risk management firm headquartered in Rolling Meadows, Illinois. Founded in 1927 by Arthur J. Gallagher, the company has grown from a regional broker into an international professional services organization that arranges insurance, provides consulting and designs risk-transfer solutions for commercial, industrial, public sector and individual clients.

The company’s core activities include property and casualty insurance brokerage, employee benefits consulting and administration, and a range of risk management services.