Royal London Asset Management Ltd. Acquires 39,243 Shares of Arthur J. Gallagher & Co. (NYSE:AJG)

Royal London Asset Management Ltd. raised its position in Arthur J. Gallagher & Co. (NYSE:AJG) by 45.4% during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 125,644 shares of the financial services provider’s stock after acquiring an additional 39,243 shares during the period. Royal London Asset Management Ltd. owned about 0.06% of Arthur J. Gallagher & Co. worth $35,352,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently bought and sold shares of AJG. Mark Sheptoff Financial Planning LLC bought a new stake in Arthur J. Gallagher & Co. in the 2nd quarter valued at approximately $26,000. Strategic Investment Solutions Inc. IL bought a new stake in Arthur J. Gallagher & Co. in the 2nd quarter valued at approximately $26,000. Pin Oak Investment Advisors Inc. lifted its stake in Arthur J. Gallagher & Co. by 543.8% in the 3rd quarter. Pin Oak Investment Advisors Inc. now owns 103 shares of the financial services provider’s stock valued at $28,000 after acquiring an additional 87 shares in the last quarter. DiNuzzo Private Wealth Inc. lifted its stake in Arthur J. Gallagher & Co. by 89.7% in the 2nd quarter. DiNuzzo Private Wealth Inc. now owns 110 shares of the financial services provider’s stock valued at $29,000 after acquiring an additional 52 shares in the last quarter. Finally, Quarry LP bought a new stake in Arthur J. Gallagher & Co. in the 2nd quarter valued at approximately $29,000. Institutional investors own 85.53% of the company’s stock.

Arthur J. Gallagher & Co. Stock Performance

Shares of NYSE AJG opened at $303.58 on Friday. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.06 and a quick ratio of 1.06. The stock’s fifty day moving average price is $293.06 and its two-hundred day moving average price is $280.46. Arthur J. Gallagher & Co. has a one year low of $218.63 and a one year high of $316.72. The firm has a market cap of $66.61 billion, a price-to-earnings ratio of 57.82, a P/E/G ratio of 2.64 and a beta of 0.74.

Arthur J. Gallagher & Co. (NYSE:AJG) last issued its quarterly earnings data on Thursday, October 24th. The financial services provider reported $2.26 EPS for the quarter, meeting analysts’ consensus estimates of $2.26. The firm had revenue of $2.77 billion for the quarter, compared to analyst estimates of $2.78 billion. Arthur J. Gallagher & Co. had a return on equity of 19.12% and a net margin of 10.40%. The company’s revenue for the quarter was up 12.8% on a year-over-year basis. During the same period in the prior year, the firm posted $2.00 EPS. On average, equities analysts forecast that Arthur J. Gallagher & Co. will post 10.12 EPS for the current year.

Arthur J. Gallagher & Co. Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Friday, December 6th will be given 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 0.79%. Arthur J. Gallagher & Co.’s payout ratio is 45.71%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the company. Jefferies Financial Group upped their price objective on Arthur J. Gallagher & Co. from $269.00 to $274.00 and gave the stock a “hold” rating in a research note on Wednesday, October 9th. Bank of America upped 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. The Goldman Sachs Group cut Arthur J. Gallagher & Co. from a “buy” rating to a “neutral” rating and set a $313.00 price objective on the stock. in a research note on Monday, November 25th. Piper Sandler upped their price objective on Arthur J. Gallagher & Co. from $254.00 to $293.00 and gave the stock a “neutral” rating in a research note on Friday, September 20th. Finally, Wells Fargo & Company boosted their target price on Arthur J. Gallagher & Co. from $309.00 to $315.00 and gave the stock an “overweight” rating in a report on Thursday, October 10th. Three analysts have rated the stock with a sell rating, eight have issued a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, Arthur J. Gallagher & Co. currently has an average rating of “Hold” and an average target price of $291.64.

Insider Activity

In related news, CFO Douglas K. Howell sold 7,000 shares of the company’s stock in a transaction on 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 represents a 8.44 % 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 the company’s stock in a transaction on Friday, September 13th. The stock was sold at an average price of $296.20, for a total value of $2,103,020.00. Following the sale, the president now owns 33,267 shares of the company’s stock, valued at approximately $9,853,685.40. This represents a 17.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 23,900 shares of company stock worth $6,892,280. 1.60% of the stock is currently owned by company insiders.

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.