Assenagon Asset Management S.A. Has $1.06 Million Position in Arthur J. Gallagher & Co. (NYSE:AJG)

Assenagon Asset Management S.A. trimmed its stake in shares of Arthur J. Gallagher & Co. (NYSE:AJGFree Report) by 94.0% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,236 shares of the financial services provider’s stock after selling 65,816 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Arthur J. Gallagher & Co. were worth $1,059,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Busey Bank boosted its stake in shares of Arthur J. Gallagher & Co. by 2.2% in the 1st quarter. Busey Bank now owns 43,752 shares of the financial services provider’s stock valued at $10,939,000 after purchasing an additional 942 shares during the last quarter. Carderock Capital Management Inc. acquired a new position in Arthur J. Gallagher & Co. in the first quarter valued at $300,000. Gradient Investments LLC boosted its position in Arthur J. Gallagher & Co. by 304,861.9% during the first quarter. Gradient Investments LLC now owns 64,042 shares of the financial services provider’s stock valued at $16,013,000 after acquiring an additional 64,021 shares during the last quarter. Fifth Third Bancorp raised its position in shares of Arthur J. Gallagher & Co. by 11.0% in the 1st quarter. Fifth Third Bancorp now owns 27,391 shares of the financial services provider’s stock worth $6,849,000 after acquiring an additional 2,721 shares in the last quarter. Finally, McAdam LLC acquired a new position in shares of Arthur J. Gallagher & Co. in the 1st quarter valued at about $309,000. 85.53% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, VP Joel D. Cavaness sold 1,207 shares of the firm’s stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $255.20, for a total transaction of $308,026.40. Following the completion of the sale, the vice president now owns 2,023 shares in the company, valued at $516,269.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Arthur J. Gallagher & Co. news, VP Joel D. Cavaness sold 1,207 shares of the firm’s stock in a transaction on Monday, March 18th. The stock was sold at an average price of $255.20, for a total value of $308,026.40. Following the completion of the sale, the vice president now directly owns 2,023 shares of the company’s stock, valued at $516,269.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Richard C. Cary sold 3,395 shares of the company’s stock in a transaction on Thursday, May 16th. The shares were sold at an average price of $254.00, for a total value of $862,330.00. Following the transaction, the chief accounting officer now directly owns 38,314 shares in the company, valued at approximately $9,731,756. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 50,219 shares of company stock valued at $12,727,781. Insiders own 1.60% of the company’s stock.

Arthur J. Gallagher & Co. Stock Up 0.5 %

NYSE AJG traded up $1.40 on Tuesday, reaching $257.79. The company had a trading volume of 505,994 shares, compared to its average volume of 847,357. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.70. The company’s fifty day moving average is $244.53 and its 200 day moving average is $240.46. Arthur J. Gallagher & Co. has a 52-week low of $198.52 and a 52-week high of $258.57. The stock has a market capitalization of $56.33 billion, a P/E ratio of 51.91, a P/E/G ratio of 2.41 and a beta of 0.69.

Arthur J. Gallagher & Co. (NYSE:AJGGet Free Report) last released its quarterly earnings results on Thursday, April 25th. The financial services provider reported $3.49 earnings per share for the quarter, beating analysts’ consensus estimates of $3.41 by $0.08. The company had revenue of $3.22 billion for the quarter, compared to analyst estimates of $3.18 billion. Arthur J. Gallagher & Co. had a net margin of 10.27% and a return on equity of 18.94%. The firm’s revenue was up 20.4% on a year-over-year basis. During the same period last year, the firm earned $3.03 earnings per share. Sell-side analysts anticipate that Arthur J. Gallagher & Co. will post 10.08 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, June 21st. Investors of record on Friday, June 7th will be given a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 0.93%. The ex-dividend date of this dividend is Friday, June 7th. Arthur J. Gallagher & Co.’s payout ratio is 48.58%.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. Royal Bank of Canada lifted their target price on Arthur J. Gallagher & Co. from $270.00 to $282.00 and gave the stock an “outperform” rating in a report on Friday, March 22nd. TD Cowen increased their target price on shares of Arthur J. Gallagher & Co. from $249.00 to $273.00 and gave the stock a “hold” rating in a research note on Tuesday, April 2nd. Argus lifted their price target on shares of Arthur J. Gallagher & Co. from $264.00 to $270.00 and gave the company a “buy” rating in a research note on Tuesday, May 14th. Keefe, Bruyette & Woods cut their price objective on shares of Arthur J. Gallagher & Co. from $246.00 to $240.00 and set an “underperform” rating on the stock in a research report on Wednesday, April 10th. Finally, Truist Financial reaffirmed a “hold” rating and issued a $255.00 target price (down from $280.00) on shares of Arthur J. Gallagher & Co. in a research report on Wednesday, April 10th. One analyst has rated the stock with a sell rating, six have given a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $255.77.

View Our Latest Report on Arthur J. Gallagher & Co.

Arthur J. Gallagher & Co. Profile

(Free Report)

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.

Further Reading

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

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