Beck Mack & Oliver LLC grew its holdings in shares of Arthur J. Gallagher & Co. (NYSE:AJG - Free Report) by 0.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 771,326 shares of the financial services provider's stock after purchasing an additional 4,153 shares during the quarter. Arthur J. Gallagher & Co. comprises about 4.1% of Beck Mack & Oliver LLC's investment portfolio, making the stock its 5th biggest position. Beck Mack & Oliver LLC owned approximately 0.31% of Arthur J. Gallagher & Co. worth $218,941,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Wealth Enhancement Advisory Services LLC grew its holdings in Arthur J. Gallagher & Co. by 21.2% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 67,146 shares of the financial services provider's stock valued at $18,893,000 after buying an additional 11,752 shares during the last quarter. Principal Financial Group Inc. grew its stake in shares of Arthur J. Gallagher & Co. by 231.2% in the third quarter. Principal Financial Group Inc. now owns 885,796 shares of the financial services provider's stock worth $249,237,000 after acquiring an additional 618,362 shares during the last quarter. Running Oak Capital LLC raised its stake in Arthur J. Gallagher & Co. by 8.9% during the 4th quarter. Running Oak Capital LLC now owns 48,722 shares of the financial services provider's stock valued at $13,830,000 after purchasing an additional 3,983 shares during the last quarter. Nordea Investment Management AB boosted its holdings in Arthur J. Gallagher & Co. by 16.7% in the 4th quarter. Nordea Investment Management AB now owns 22,436 shares of the financial services provider's stock valued at $6,381,000 after purchasing an additional 3,217 shares during the period. Finally, Campbell Newman Asset Management Inc. grew its position in Arthur J. Gallagher & Co. by 13.9% in the 4th quarter. Campbell Newman Asset Management Inc. now owns 141,163 shares of the financial services provider's stock worth $40,069,000 after purchasing an additional 17,196 shares during the last quarter. Institutional investors and hedge funds own 85.53% of the company's stock.
Analyst Ratings Changes
AJG has been the subject of a number of research analyst reports. Royal Bank of Canada upped 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. Keefe, Bruyette & Woods raised their price objective on Arthur J. Gallagher & Co. from $308.00 to $314.00 and gave the stock a "market perform" rating in a research report on Friday, March 21st. Jefferies Financial Group lowered their price objective on Arthur J. Gallagher & Co. from $266.00 to $265.00 and set a "hold" rating on the stock in a research report on Friday, April 11th. Piper Sandler raised Arthur J. Gallagher & Co. from a "neutral" rating to an "overweight" rating and raised their target price for the stock from $285.00 to $315.00 in a research report on Wednesday, January 8th. Finally, Truist Financial increased their price objective 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. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $315.27.
Read Our Latest Stock Analysis on AJG
Arthur J. Gallagher & Co. Price Performance
Shares of NYSE AJG traded down $0.16 during mid-day trading on Thursday, hitting $331.63. 563,877 shares of the stock were exchanged, compared to its average volume of 1,637,739. Arthur J. Gallagher & Co. has a twelve month low of $232.27 and a twelve month high of $350.70. The stock's fifty day simple moving average is $330.53 and its two-hundred day simple moving average is $306.65. 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 company has a market cap of $84.81 billion, a P/E ratio of 50.87 and a beta of 0.64.
Arthur J. Gallagher & Co. (NYSE:AJG - Get Free Report) last issued its quarterly earnings data on Thursday, January 30th. The financial services provider reported $2.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.03 by $0.10. Arthur J. Gallagher & Co. had a return on equity of 16.47% and a net margin of 12.70%. As a group, analysts forecast that Arthur J. Gallagher & Co. will post 11.54 EPS for the current fiscal year.
Arthur J. Gallagher & Co. Increases Dividend
The business also recently declared a quarterly dividend, which was paid on Friday, March 21st. Investors of record on Friday, March 7th were given a dividend of $0.65 per share. This is an increase from Arthur J. Gallagher & Co.'s previous quarterly dividend of $0.60. The ex-dividend date of this dividend was Friday, March 7th. This represents a $2.60 annualized dividend and a yield of 0.78%. Arthur J. Gallagher & Co.'s dividend payout ratio is 39.88%.
Insider Buying and Selling at Arthur J. Gallagher & Co.
In other news, Director Sherry S. Barrat sold 2,500 shares of the company's stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $304.33, for a total transaction of $760,825.00. Following the transaction, the director now owns 16,533 shares of the company's stock, valued at $5,031,487.89. This represents a 13.14 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Richard C. Cary sold 10,000 shares of Arthur J. Gallagher & Co. stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $322.99, for a total value of $3,229,900.00. Following the completion of the sale, the chief accounting officer now owns 69,774 shares of the company's stock, valued at approximately $22,536,304.26. The trade was a 12.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 23,235 shares of company stock worth $7,478,224. 1.60% of the stock is currently owned by corporate insiders.
Arthur J. Gallagher & Co. Profile
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Free Report)
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.
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