Nomura Asset Management Co. Ltd. Has $45.29 Million Stock Position in Arthur J. Gallagher & Co. $AJG

Nomura Asset Management Co. Ltd. lowered its holdings in shares of Arthur J. Gallagher & Co. (NYSE:AJG) by 54.9% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 175,016 shares of the financial services provider’s stock after selling 213,464 shares during the period. Nomura Asset Management Co. Ltd.’s holdings in Arthur J. Gallagher & Co. were worth $45,292,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of AJG. Caprock Group LLC bought a new stake in Arthur J. Gallagher & Co. during the 3rd quarter worth $9,877,000. JPMorgan Chase & Co. grew its position in Arthur J. Gallagher & Co. by 19.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 20,338,533 shares of the financial services provider’s stock worth $6,299,674,000 after acquiring an additional 3,330,205 shares during the last quarter. Banco Bilbao Vizcaya Argentaria S.A. grew its position in Arthur J. Gallagher & Co. by 10.2% during the 3rd quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 65,889 shares of the financial services provider’s stock worth $20,398,000 after acquiring an additional 6,090 shares during the last quarter. Factory Mutual Insurance Co. grew its position in Arthur J. Gallagher & Co. by 241.4% during the 3rd quarter. Factory Mutual Insurance Co. now owns 49,500 shares of the financial services provider’s stock worth $15,332,000 after acquiring an additional 35,000 shares during the last quarter. Finally, Cincinnati Financial Corp bought a new stake in Arthur J. Gallagher & Co. during the 3rd quarter worth $42,824,000. Institutional investors and hedge funds own 85.53% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on AJG. Wells Fargo & Company reduced their price objective on Arthur J. Gallagher & Co. from $273.00 to $266.00 and set an “overweight” rating on the stock in a research report on Thursday, April 9th. Morgan Stanley reduced their price objective on Arthur J. Gallagher & Co. from $265.00 to $240.00 and set an “overweight” rating on the stock in a research report on Thursday, May 21st. Wall Street Zen upgraded Arthur J. Gallagher & Co. from a “sell” rating to a “hold” rating in a research report on Saturday, February 21st. Truist Financial reduced their price objective on Arthur J. Gallagher & Co. from $235.00 to $225.00 and set a “hold” rating on the stock in a research report on Friday, May 1st. Finally, BMO Capital Markets upgraded Arthur J. Gallagher & Co. from a “market perform” rating to an “outperform” rating and upped their price target for the company from $275.00 to $278.00 in a research report on Tuesday, March 24th. Eleven equities research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $264.00.

Arthur J. Gallagher & Co. Stock Up 0.1%

Shares of Arthur J. Gallagher & Co. stock opened at $201.23 on Monday. Arthur J. Gallagher & Co. has a one year low of $190.75 and a one year high of $351.23. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.06 and a quick ratio of 1.06. The stock’s 50-day moving average is $211.10 and its 200 day moving average is $230.80. The firm has a market cap of $51.70 billion, a price-to-earnings ratio of 32.56, a PEG ratio of 1.02 and a beta of 0.53.

Arthur J. Gallagher & Co. (NYSE:AJG) last announced its earnings results on Thursday, April 30th. The financial services provider reported $4.47 EPS for the quarter, beating the consensus estimate of $4.43 by $0.04. Arthur J. Gallagher & Co. had a return on equity of 12.83% and a net margin of 10.76%.The company had revenue of $4.71 billion for the quarter, compared to analyst estimates of $4.73 billion. During the same quarter in the prior year, the company earned $3.67 EPS. The firm’s revenue for the quarter was up 29.0% compared to the same quarter last year. Equities research analysts anticipate that Arthur J. Gallagher & Co. will post 13.26 EPS for the current year.

Arthur J. Gallagher & Co. Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 19th. Investors of record on Friday, June 5th will be given a dividend of $0.70 per share. The ex-dividend date is Friday, June 5th. This represents a $2.80 annualized dividend and a dividend yield of 1.4%. Arthur J. Gallagher & Co.’s dividend payout ratio is presently 45.31%.

Insider Activity

In related news, VP Scott R. Hudson sold 3,800 shares of the company’s stock in a transaction dated Friday, March 6th. The stock was sold at an average price of $227.57, for a total transaction of $864,766.00. Following the sale, the vice president owned 85,920 shares in the company, valued at $19,552,814.40. This represents a 4.24% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Christopher E. Mead sold 4,000 shares of the company’s stock in a transaction dated Thursday, March 5th. The shares were sold at an average price of $227.12, for a total value of $908,480.00. Following the sale, the vice president owned 19,306 shares in the company, valued at approximately $4,384,778.72. The trade was a 17.16% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 1.40% of the stock is owned by corporate 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.