Arthur J Gallagher & Co (AJG) Stake Increased by Tredje AP fonden

Arthur J Gallagher & Co (AJG) Stake Increased by Tredje AP fonden

Other hedge funds have also recently added to or reduced their stakes in the company. Victory Capital Management Inc. boosted its position in shares of Arthur J Gallagher & Co by 182.4% in the first quarter. Victory Capital Management Inc. now owns 3,273,190 shares of the financial services provider’s stock valued at $185,065,000 after buying an additional 2,114,276 shares in the last quarter. Norges Bank bought a new position in shares of Arthur J Gallagher & Co during the fourth quarter valued at $75,419,000. Janus Capital Management LLC boosted its position in shares of Arthur J Gallagher & Co by 350.9% in the fourth quarter. Janus Capital Management LLC now owns 1,431,629 shares of the financial services provider’s stock valued at $74,387,000 after buying an additional 1,114,098 shares in the last quarter. State Street Corp boosted its position in shares of Arthur J Gallagher & Co by 8.9% in the fourth quarter. State Street Corp now owns 8,741,017 shares of the financial services provider’s stock valued at $454,188,000 after buying an additional 711,975 shares in the last quarter. Finally, Genovese Burford & Brothers Wealth & Retirement Plan Management LLC boosted its position in shares of Arthur J Gallagher & Co by 4,869.2% in the fourth quarter. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC now owns 547,503 shares of the financial services provider’s stock valued at $548,000 after buying an additional 536,485 shares in the last quarter. 83.11% of the stock is owned by institutional investors and hedge funds.

Tredje AP fonden boosted its stake in Arthur J Gallagher & Co (NYSE:AJG) by 39.2% during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 40,166 shares of the financial services provider’s stock after buying an additional 11,302 shares during the period. Tredje AP fonden’s holdings in Arthur J Gallagher & Co were worth $2,271,000 as of its most recent filing with the SEC.

Arthur J Gallagher & Co (NYSE:AJG) traded down 0.14% during trading on Wednesday, hitting $56.50. The stock had a trading volume of 276,465 shares. The stock has a market capitalization of $10.14 billion, a P/E ratio of 23.89 and a beta of 1.14. The company has a 50-day moving average of $55.89 and a 200-day moving average of $54.38. Arthur J Gallagher & Co has a 52 week low of $43.90 and a 52 week high of $57.82.

Arthur J Gallagher & Co (NYSE:AJG) last posted its quarterly earnings results on Thursday, April 27th. The financial services provider reported $0.40 EPS for the quarter, topping the Zacks’ consensus estimate of $0.39 by $0.01. Arthur J Gallagher & Co had a return on equity of 13.31% and a net margin of 7.41%. The firm had revenue of $1.41 billion during the quarter, compared to analyst estimates of $1.40 billion. During the same period last year, the company earned $0.34 earnings per share. The business’s revenue for the quarter was up 8.7% on a year-over-year basis. On average, equities analysts expect that Arthur J Gallagher & Co will post $3.03 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 16th. Investors of record on Friday, June 2nd will be given a $0.39 dividend. The ex-dividend date is Wednesday, May 31st. This represents a $1.56 dividend on an annualized basis and a dividend yield of 2.74%. Arthur J Gallagher & Co’s dividend payout ratio (DPR) is presently 65.52%.

Several equities analysts have weighed in on AJG shares. Zacks Investment Research cut Arthur J Gallagher & Co from a “hold” rating to a “sell” rating in a report on Tuesday, April 4th. BMO Capital Markets lifted their price objective on Arthur J Gallagher & Co from $60.00 to $63.00 and gave the company an “outperform” rating in a report on Wednesday, February 1st. Citigroup Inc cut Arthur J Gallagher & Co from an “outperform” rating to a “market perform” rating in a report on Tuesday, May 2nd. They noted that the move was a valuation call. Wells Fargo & Co reaffirmed a “buy” rating on shares of Arthur J Gallagher & Co in a report on Thursday, April 27th. Finally, Raymond James Financial, Inc. reaffirmed a “market perform” rating on shares of Arthur J Gallagher & Co in a report on Tuesday, May 2nd. Two research analysts have rated the stock with a sell rating, four have given a hold rating and six have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $55.14.

In related news, insider Susan E. Pietrucha sold 4,133 shares of the stock in a transaction on Monday, May 22nd. The stock was sold at an average price of $56.06, for a total value of $231,695.98. Following the sale, the insider now owns 112 shares in the company, valued at $6,278.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP William F. Ziebell sold 7,764 shares of the stock in a transaction on Wednesday, May 24th. The stock was sold at an average price of $56.59, for a total value of $439,364.76. Following the completion of the sale, the vice president now owns 8,495 shares in the company, valued at approximately $480,732.05. The disclosure for this sale can be found here. Insiders sold 31,930 shares of company stock worth $1,811,940 in the last quarter. 1.70% of the stock is currently owned by company insiders.

About Arthur J Gallagher & Co

Arthur J. Gallagher & Co and its subsidiaries are engaged in providing insurance brokerage and consulting services, and third-party claims settlement and administration services to both domestic and international entities. The Company operates through three segments: brokerage, risk management and corporate.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “AJG”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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