Hudson Bay Capital Management LP Invests $12.78 Million in Arthur J. Gallagher & Co. (NYSE:AJG)

Hudson Bay Capital Management LP bought a new stake in Arthur J. Gallagher & Co. (NYSE:AJG - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 45,012 shares of the financial services provider's stock, valued at approximately $12,777,000.

Other large investors have also added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in shares of Arthur J. Gallagher & Co. by 14.9% during the fourth quarter. Vanguard Group Inc. now owns 29,672,134 shares of the financial services provider's stock valued at $8,422,435,000 after acquiring an additional 3,851,661 shares during the last quarter. Capital International Investors boosted its holdings in Arthur J. Gallagher & Co. by 3.1% in the fourth quarter. Capital International Investors now owns 10,067,647 shares of the financial services provider's stock worth $2,857,737,000 after acquiring an additional 305,876 shares in the last quarter. Capital World Investors raised its holdings in Arthur J. Gallagher & Co. by 30.4% in the fourth quarter. Capital World Investors now owns 8,199,413 shares of the financial services provider's stock worth $2,327,403,000 after buying an additional 1,910,471 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of Arthur J. Gallagher & Co. by 14.3% during the fourth quarter. Geode Capital Management LLC now owns 6,277,993 shares of the financial services provider's stock valued at $1,779,248,000 after buying an additional 787,265 shares during the last quarter. Finally, Norges Bank bought a new position in shares of Arthur J. Gallagher & Co. during the 4th quarter valued at $1,421,591,000. Hedge funds and other institutional investors own 85.53% of the company's stock.

Insider Activity

In related news, VP Scott R. Hudson sold 7,510 shares of the stock in a transaction that occurred on Friday, March 21st. The stock was sold at an average price of $333.59, for a total value of $2,505,260.90. Following the transaction, the vice president now owns 90,020 shares of the company's stock, valued at $30,029,771.80. This represents a 7.70% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 1.60% of the company's stock.

Analysts Set New Price Targets

A number of analysts have commented on the stock. Keefe, Bruyette & Woods upped their target price on shares of Arthur J. Gallagher & Co. from $307.00 to $315.00 and gave the company a "market perform" rating in a report on Friday, May 2nd. Jefferies Financial Group cut their price target on Arthur J. Gallagher & Co. from $266.00 to $265.00 and set a "hold" rating for the company in a report on Friday, April 11th. Truist Financial lifted their target price on shares of Arthur J. Gallagher & Co. from $275.00 to $290.00 and gave the company a "hold" rating in a research note on Friday, January 31st. Barclays increased their target price on Arthur J. Gallagher & Co. from $308.00 to $346.00 and gave the stock an "equal weight" rating in a research report on Friday, April 11th. Finally, Redburn Atlantic began coverage on Arthur J. Gallagher & Co. in a report on Tuesday, March 25th. They issued a "neutral" rating and a $352.00 price target on the stock. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, Arthur J. Gallagher & Co. has an average rating of "Hold" and an average price target of $318.57.

Arthur J. Gallagher & Co. Trading Up 2.6%

AJG stock traded up $8.55 during midday trading on Thursday, reaching $338.19. 1,013,227 shares of the company traded hands, compared to its average volume of 1,312,127. The firm has a market capitalization of $86.61 billion, a price-to-earnings ratio of 51.87 and a beta of 0.78. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.51 and a current ratio of 1.51. The business has a 50 day moving average of $330.15 and a 200-day moving average of $310.92. Arthur J. Gallagher & Co. has a 52-week low of $244.60 and a 52-week high of $350.70.

Arthur J. Gallagher & Co. (NYSE:AJG - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The financial services provider reported $3.67 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.57 by $0.10. Arthur J. Gallagher & Co. had a return on equity of 16.47% and a net margin of 12.70%. The company had revenue of $3.69 billion during the quarter, compared to the consensus estimate of $3.85 billion. During the same period last year, the company earned $3.45 earnings per share. Arthur J. Gallagher & Co.'s revenue was up 14.5% on a year-over-year basis. As a group, sell-side analysts expect that Arthur J. Gallagher & Co. will post 11.54 earnings per share for the current fiscal year.

Arthur J. Gallagher & Co. Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 20th. Investors of record on Friday, June 6th will be issued a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a yield of 0.77%. The ex-dividend date is Friday, June 6th. Arthur J. Gallagher & Co.'s payout ratio is currently 37.63%.

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 segments: Brokerage, Risk Management, and Corporate. The Brokerage segment consists of retail and wholesale insurance brokerage operations.