Bank of America Corp DE Increases Stock Holdings in Arthur J. Gallagher & Co. (NYSE:AJG)

Bank of America Corp DE boosted its holdings in shares of Arthur J. Gallagher & Co. (NYSE:AJG - Free Report) by 16.4% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 1,293,829 shares of the financial services provider's stock after purchasing an additional 181,979 shares during the period. Bank of America Corp DE owned approximately 0.52% of Arthur J. Gallagher & Co. worth $367,253,000 as of its most recent filing with the SEC.

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

Arthur J. Gallagher & Co. Price Performance

NYSE:AJG traded down $11.74 during mid-day trading on Monday, hitting $326.44. 392,658 shares of the stock traded hands, compared to its average volume of 1,307,038. Arthur J. Gallagher & Co. has a 12-month low of $244.60 and a 12-month high of $350.70. The company has a market cap of $83.60 billion, a PE ratio of 50.07 and a beta of 0.78. The company has a quick ratio of 1.51, a current ratio of 1.51 and a debt-to-equity ratio of 0.63. The business's 50-day moving average price is $330.37 and its 200 day moving average price is $310.29.

Arthur J. Gallagher & Co. (NYSE:AJG - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The financial services provider reported $3.67 EPS for the quarter, beating analysts' consensus estimates of $3.57 by $0.10. Arthur J. Gallagher & Co. had a net margin of 12.70% and a return on equity of 16.47%. The company had revenue of $3.69 billion during the quarter, compared to analyst estimates of $3.85 billion. During the same period in the prior year, the business posted $3.45 EPS. The firm's revenue was up 14.5% compared to the same quarter last year. On average, analysts expect that Arthur J. Gallagher & Co. will post 11.54 EPS for the current fiscal year.

Arthur J. Gallagher & Co. Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, June 20th. Stockholders 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 dividend yield of 0.80%. The ex-dividend date is Friday, June 6th. Arthur J. Gallagher & Co.'s payout ratio is presently 37.63%.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on AJG shares. Royal Bank of Canada lifted their price objective on shares of Arthur J. Gallagher & Co. from $320.00 to $340.00 and gave the company an "outperform" rating in a research report on Friday, January 31st. Jefferies Financial Group dropped their target price on shares of Arthur J. Gallagher & Co. from $266.00 to $265.00 and set a "hold" rating on the stock in a report on Friday, April 11th. Wells Fargo & Company boosted their target price on shares of Arthur J. Gallagher & Co. from $370.00 to $372.00 and gave the stock an "overweight" rating in a report on Thursday, April 10th. Truist Financial raised their price objective on shares of Arthur J. Gallagher & Co. from $275.00 to $290.00 and gave the stock a "hold" rating in a research note on Friday, January 31st. Finally, Barclays boosted their price objective on shares of Arthur J. Gallagher & Co. from $308.00 to $346.00 and gave the company an "equal weight" rating in a research report on Friday, April 11th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, Arthur J. Gallagher & Co. has a consensus rating of "Hold" and a consensus target price of $315.33.

Insider Buying and Selling

In other news, Director David S. Johnson sold 325 shares of Arthur J. Gallagher & Co. stock in a transaction that occurred on Wednesday, February 12th. The shares were sold at an average price of $322.06, for a total value of $104,669.50. Following the transaction, the director now owns 44,783 shares of the company's stock, valued at $14,422,812.98. The trade was a 0.72% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Scott R. Hudson sold 7,510 shares of the company's stock in a transaction dated Friday, March 21st. The shares were sold at an average price of $333.59, for a total value of $2,505,260.90. Following the transaction, the vice president now directly owns 90,020 shares in the company, valued at $30,029,771.80. This represents a 7.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.60% of the stock is currently owned by insiders.

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.