Nomura Holdings Inc. Buys Shares of 4,352 Arthur J. Gallagher & Co. (NYSE:AJG)

Nomura Holdings Inc. purchased a new position in Arthur J. Gallagher & Co. (NYSE:AJG) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 4,352 shares of the financial services provider’s stock, valued at approximately $979,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Pinnacle Bancorp Inc. lifted its holdings in shares of Arthur J. Gallagher & Co. by 14.3% during the 4th quarter. Pinnacle Bancorp Inc. now owns 343 shares of the financial services provider’s stock valued at $77,000 after buying an additional 43 shares during the period. Forte Capital LLC ADV boosted its position in Arthur J. Gallagher & Co. by 1.9% in the fourth quarter. Forte Capital LLC ADV now owns 2,395 shares of the financial services provider’s stock worth $539,000 after purchasing an additional 44 shares during the last quarter. Cambridge Trust Co. grew its stake in shares of Arthur J. Gallagher & Co. by 5.1% during the 4th quarter. Cambridge Trust Co. now owns 969 shares of the financial services provider’s stock valued at $218,000 after purchasing an additional 47 shares during the period. Financial Counselors Inc. increased its position in shares of Arthur J. Gallagher & Co. by 1.6% during the 4th quarter. Financial Counselors Inc. now owns 3,255 shares of the financial services provider’s stock valued at $732,000 after purchasing an additional 50 shares during the last quarter. Finally, Diversified Trust Co lifted its stake in shares of Arthur J. Gallagher & Co. by 1.6% in the 3rd quarter. Diversified Trust Co now owns 3,325 shares of the financial services provider’s stock worth $758,000 after purchasing an additional 53 shares during the period. 85.53% of the stock is owned by institutional investors.

Arthur J. Gallagher & Co. Price Performance

Shares of NYSE:AJG opened at $264.66 on Friday. The firm has a market cap of $57.83 billion, a price-to-earnings ratio of 53.57, a P/E/G ratio of 2.37 and a beta of 0.72. The firm has a fifty day moving average price of $247.82 and a 200 day moving average price of $241.89. Arthur J. Gallagher & Co. has a fifty-two week low of $209.39 and a fifty-two week high of $264.70. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.05 and a current ratio of 1.05.

Arthur J. Gallagher & Co. (NYSE:AJG) last announced its quarterly earnings results on Thursday, April 25th. The financial services provider reported $3.49 EPS for the quarter, topping the consensus estimate of $3.41 by $0.08. The business had revenue of $3.22 billion for the quarter, compared to analysts’ expectations of $3.18 billion. Arthur J. Gallagher & Co. had a net margin of 10.27% and a return on equity of 18.94%. The business’s quarterly revenue was up 20.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $3.03 EPS. As a group, sell-side analysts expect that Arthur J. Gallagher & Co. will post 10.06 earnings per share for the current fiscal year.

Arthur J. Gallagher & Co. Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 21st. Shareholders of record on Friday, June 7th will be issued a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 0.91%. The ex-dividend date of this dividend is Friday, June 7th. Arthur J. Gallagher & Co.’s dividend payout ratio is presently 48.58%.

Analysts Set New Price Targets

A number of analysts have commented on AJG shares. Keefe, Bruyette & Woods reduced their target price on shares of Arthur J. Gallagher & Co. from $246.00 to $240.00 and set an “underperform” rating for the company in a report on Wednesday, April 10th. TD Cowen lifted their target price on Arthur J. Gallagher & Co. from $249.00 to $273.00 and gave the company a “hold” rating in a research report on Tuesday, April 2nd. Royal Bank of Canada upped their price target on Arthur J. Gallagher & Co. from $270.00 to $282.00 and gave the stock an “outperform” rating in a research report on Friday, March 22nd. Truist Financial reiterated a “hold” rating and set a $255.00 price objective (down from $280.00) on shares of Arthur J. Gallagher & Co. in a research note on Wednesday, April 10th. Finally, Piper Sandler decreased their target price on shares of Arthur J. Gallagher & Co. from $253.00 to $252.00 and set a “neutral” rating on the stock in a research note on Monday, April 29th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $260.58.

Insiders Place Their Bets

In related news, CFO Douglas K. Howell sold 16,000 shares of the firm’s stock in a transaction on Friday, May 10th. The shares were sold at an average price of $248.41, for a total value of $3,974,560.00. Following the completion of the transaction, the chief financial officer now directly owns 80,952 shares of the company’s stock, valued at $20,109,286.32. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, CFO Douglas K. Howell sold 16,000 shares of the stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $248.41, for a total value of $3,974,560.00. Following the completion of the transaction, the chief financial officer now owns 80,952 shares of the company’s stock, valued at approximately $20,109,286.32. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, VP Scott R. Hudson sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, June 18th. The stock was sold at an average price of $263.45, for a total value of $2,634,500.00. Following the sale, the vice president now directly owns 93,730 shares in the company, valued at $24,693,168.50. The disclosure for this sale can be found here. Insiders have sold a total of 53,165 shares of company stock valued at $13,629,049 in the last quarter. 1.60% of the stock is currently owned by 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.