Comerica Bank Raises Stock Holdings in Arthur J. Gallagher & Co. (NYSE:AJG)

Comerica Bank increased its stake in shares of Arthur J. Gallagher & Co. (NYSE:AJG - Free Report) by 4.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 253,307 shares of the financial services provider's stock after buying an additional 11,039 shares during the quarter. Comerica Bank owned about 0.10% of Arthur J. Gallagher & Co. worth $71,901,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its stake in 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 worth $8,422,435,000 after acquiring an additional 3,851,661 shares in the last quarter. Capital International Investors increased its position in Arthur J. Gallagher & Co. by 3.1% during the 4th quarter. Capital International Investors now owns 10,067,647 shares of the financial services provider's stock worth $2,857,737,000 after purchasing an additional 305,876 shares in the last quarter. Capital World Investors lifted its stake in Arthur J. Gallagher & Co. by 30.4% in the 4th quarter. Capital World Investors now owns 8,199,413 shares of the financial services provider's stock valued at $2,327,403,000 after purchasing an additional 1,910,471 shares during the last quarter. Geode Capital Management LLC boosted its position in Arthur J. Gallagher & Co. by 14.3% in 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 in the last quarter. Finally, Norges Bank bought a new stake in shares of Arthur J. Gallagher & Co. during the fourth quarter worth $1,421,591,000. Institutional investors own 85.53% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the company. Barclays boosted their price target on Arthur J. Gallagher & Co. from $308.00 to $346.00 and gave the stock an "equal weight" rating in a report on Friday, April 11th. Keefe, Bruyette & Woods lifted their price target on shares of Arthur J. Gallagher & Co. from $307.00 to $315.00 and gave the company a "market perform" rating in a research note on Friday. Piper Sandler upgraded Arthur J. Gallagher & Co. from a "neutral" rating to an "overweight" rating and increased their target price for the stock from $285.00 to $315.00 in a report on Wednesday, January 8th. Truist Financial upped their target price 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, Redburn Atlantic assumed coverage on Arthur J. Gallagher & Co. in a research report on Tuesday, March 25th. They issued a "neutral" rating and a $352.00 price objective on the stock. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, Arthur J. Gallagher & Co. currently has an average rating of "Hold" and a consensus price target of $315.33.

Insider Buying and Selling

In related news, Director Sherry S. Barrat sold 2,500 shares of the stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $304.33, for a total value 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director David S. Johnson sold 325 shares of the stock in a transaction dated 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 in the company, valued at $14,422,812.98. This trade represents a 0.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 23,235 shares of company stock worth $7,478,224. Corporate insiders own 1.60% of the company's stock.

Arthur J. Gallagher & Co. Stock Performance

Shares of NYSE:AJG traded up $13.78 during midday trading on Friday, reaching $331.42. 1,818,548 shares of the company traded hands, compared to its average volume of 1,297,828. The company has a quick ratio of 1.51, a current ratio of 1.51 and a debt-to-equity ratio of 0.63. Arthur J. Gallagher & Co. has a 12 month low of $235.09 and a 12 month high of $350.70. The firm has a market capitalization of $84.76 billion, a price-to-earnings ratio of 50.83 and a beta of 0.64. The firm's fifty day moving average price is $330.09 and its two-hundred day moving average price is $308.30.

Arthur J. Gallagher & Co. (NYSE:AJG - Get Free Report) last announced 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 net margin of 12.70% and a return on equity of 16.47%. The firm had revenue of $3.69 billion for the quarter, compared to the consensus estimate of $3.85 billion. During the same period in the prior year, the firm posted $3.45 earnings per share. The company's revenue for the quarter was up 14.5% on a year-over-year basis. On average, equities 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. Stockholders of record on Friday, June 6th will be issued a $0.65 dividend. The ex-dividend date of this dividend is Friday, June 6th. This represents a $2.60 annualized dividend and a dividend yield of 0.78%. Arthur J. Gallagher & Co.'s payout ratio is currently 39.88%.

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.