E Fund Management Hong Kong Co. Ltd. Buys Shares of 123 Arthur J. Gallagher & Co. (NYSE:AJG)

E Fund Management Hong Kong Co. Ltd. purchased a new stake in Arthur J. Gallagher & Co. (NYSE:AJG) during the fourth quarter, according to its most recent 13F filing with the SEC. The firm purchased 123 shares of the financial services provider’s stock, valued at approximately $35,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. W Advisors LLC boosted its stake in Arthur J. Gallagher & Co. by 2.4% in the third quarter. W Advisors LLC now owns 1,514 shares of the financial services provider’s stock valued at $426,000 after acquiring an additional 36 shares in the last quarter. Miracle Mile Advisors LLC boosted its holdings in Arthur J. Gallagher & Co. by 0.8% in the third quarter. Miracle Mile Advisors LLC now owns 4,583 shares of the financial services provider’s stock worth $1,289,000 after acquiring an additional 38 shares in the last quarter. Covenant Partners LLC increased its holdings in shares of Arthur J. Gallagher & Co. by 0.7% during the third quarter. Covenant Partners LLC now owns 5,326 shares of the financial services provider’s stock valued at $1,499,000 after acquiring an additional 38 shares in the last quarter. Disciplined Investments LLC boosted its stake in Arthur J. Gallagher & Co. by 0.7% in the 3rd quarter. Disciplined Investments LLC now owns 5,849 shares of the financial services provider’s stock worth $1,635,000 after purchasing an additional 38 shares in the last quarter. Finally, Seelaus Asset Management LLC grew its position in Arthur J. Gallagher & Co. by 0.7% during the 3rd quarter. Seelaus Asset Management LLC now owns 5,481 shares of the financial services provider’s stock worth $1,542,000 after purchasing an additional 38 shares during the last quarter. Hedge funds and other institutional investors own 85.53% of the company’s stock.

Arthur J. Gallagher & Co. Price Performance

NYSE:AJG opened at $289.71 on Monday. The stock has a market capitalization of $72.37 billion, a PE ratio of 55.18 and a beta of 0.76. Arthur J. Gallagher & Co. has a 52 week low of $227.08 and a 52 week high of $316.72. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.64. The stock’s 50-day moving average price is $291.74 and its 200-day moving average price is $287.86.

Arthur J. Gallagher & Co. (NYSE:AJG) last announced its earnings results on Thursday, October 24th. The financial services provider reported $2.26 earnings per share for the quarter, hitting the consensus estimate of $2.26. Arthur J. Gallagher & Co. had a return on equity of 19.12% and a net margin of 10.40%. The business had revenue of $2.77 billion during the quarter, compared to the consensus estimate of $2.78 billion. During the same period in the prior year, the company posted $2.00 EPS. The business’s quarterly revenue was up 12.8% on a year-over-year basis. As a group, equities analysts expect that Arthur J. Gallagher & Co. will post 10.05 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on AJG. Keefe, Bruyette & Woods upgraded shares of Arthur J. Gallagher & Co. from an “underperform” rating to a “market perform” rating and lowered their price objective for the stock from $292.00 to $286.00 in a research note on Friday, January 10th. Barclays boosted their price target on Arthur J. Gallagher & Co. from $300.00 to $308.00 and gave the company an “equal weight” rating in a research note on Thursday, November 21st. The Goldman Sachs Group cut Arthur J. Gallagher & Co. from a “buy” rating to a “neutral” rating and set a $313.00 price objective for the company. in a research note on Monday, November 25th. Jefferies Financial Group upped their target price on Arthur J. Gallagher & Co. from $269.00 to $274.00 and gave the company a “hold” rating in a research report on Wednesday, October 9th. Finally, Piper Sandler raised shares of Arthur J. Gallagher & Co. from a “neutral” rating to an “overweight” rating and raised their price target for the stock from $285.00 to $315.00 in a research report on Wednesday, January 8th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, Arthur J. Gallagher & Co. has a consensus rating of “Hold” and an average target price of $304.07.

Arthur J. Gallagher & Co. Profile

Arthur J. Gallagher & Co engages in the provision of insurance brokerage, reinsurance brokerage, consulting, and third-party claims settlement and administration services. It operates through the following business segments: Brokerage, Risk Management, and Corporate. The Brokerage segment consists of retail and wholesale insurance brokerage operations.