Ameriprise Financial Inc. Has $57.91 Million Stake in Arthur J. Gallagher & Co. (NYSE:AJG)

Ameriprise Financial Inc. boosted its holdings in shares of Arthur J. Gallagher & Co. (NYSE:AJG - Free Report) by 114.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 204,024 shares of the financial services provider's stock after acquiring an additional 109,012 shares during the period. Ameriprise Financial Inc. owned approximately 0.08% of Arthur J. Gallagher & Co. worth $57,908,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Valley National Advisers Inc. acquired a new position in shares of Arthur J. Gallagher & Co. in the 4th quarter valued at approximately $25,000. MRP Capital Investments LLC bought a new position in Arthur J. Gallagher & Co. in the fourth quarter valued at approximately $28,000. New Age Alpha Advisors LLC boosted its holdings in shares of Arthur J. Gallagher & Co. by 81.7% in the fourth quarter. New Age Alpha Advisors LLC now owns 109 shares of the financial services provider's stock valued at $31,000 after buying an additional 49 shares during the period. Johnson Financial Group Inc. increased its position in shares of Arthur J. Gallagher & Co. by 205.4% during the fourth quarter. Johnson Financial Group Inc. now owns 113 shares of the financial services provider's stock worth $34,000 after acquiring an additional 76 shares in the last quarter. Finally, E Fund Management Hong Kong Co. Ltd. bought a new stake in Arthur J. Gallagher & Co. in the 4th quarter valued at $35,000. 85.53% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Arthur J. Gallagher & Co.

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

Arthur J. Gallagher & Co. Trading Down 0.9%

NYSE:AJG traded down $2.91 during mid-day trading on Wednesday, hitting $329.79. 898,453 shares of the company's stock were exchanged, compared to its average volume of 1,313,323. The firm has a market capitalization of $84.46 billion, a P/E ratio of 50.58 and a beta of 0.78. Arthur J. Gallagher & Co. has a fifty-two week low of $244.60 and a fifty-two week high of $350.70. The company has a 50 day simple moving average of $330.03 and a 200-day simple moving average of $310.78. The company has a current ratio of 1.51, a quick ratio of 1.51 and a debt-to-equity ratio of 0.63.

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 for the quarter, beating the consensus estimate 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 analysts' expectations of $3.85 billion. During the same quarter in the prior year, the firm posted $3.45 earnings per share. The business's quarterly revenue was up 14.5% on a year-over-year basis. As a group, research analysts expect that Arthur J. Gallagher & Co. will post 11.54 earnings per share for the current year.

Arthur J. Gallagher & Co. Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, June 20th. Shareholders of record on Friday, June 6th will be issued a dividend of $0.65 per share. The ex-dividend date of this dividend is Friday, June 6th. This represents a $2.60 annualized dividend and a yield of 0.79%. Arthur J. Gallagher & Co.'s payout ratio is 37.63%.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on AJG. Truist Financial lifted their target price on Arthur J. Gallagher & Co. from $275.00 to $290.00 and gave the company a "hold" rating in a research report on Friday, January 31st. Barclays raised their price objective on shares of 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. Jefferies Financial Group dropped their price objective on shares of Arthur J. Gallagher & Co. from $266.00 to $265.00 and set a "hold" rating for the company in a research note on Friday, April 11th. Redburn Atlantic initiated coverage on Arthur J. Gallagher & Co. in a report on Tuesday, March 25th. They set a "neutral" rating and a $352.00 target price on the stock. Finally, Wells Fargo & Company upped their price objective on shares of Arthur J. Gallagher & Co. from $370.00 to $372.00 and gave the stock an "overweight" rating in a research report on Thursday, April 10th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have assigned a buy rating to the company. According to MarketBeat, Arthur J. Gallagher & Co. presently has an average rating of "Hold" and a consensus target price of $315.33.

Arthur J. Gallagher & Co. Company 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.