Eventide Asset Management LLC Lowers Stake in Arthur J. Gallagher & Co. $AJG

Eventide Asset Management LLC lowered its holdings in shares of Arthur J. Gallagher & Co. (NYSE:AJG - Free Report) by 35.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 139,874 shares of the financial services provider's stock after selling 76,819 shares during the period. Eventide Asset Management LLC owned approximately 0.05% of Arthur J. Gallagher & Co. worth $36,244,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the business. Brasada Capital Management LP lifted its holdings in shares of Arthur J. Gallagher & Co. by 5.4% during the fourth quarter. Brasada Capital Management LP now owns 14,020 shares of the financial services provider's stock valued at $3,589,000 after purchasing an additional 718 shares during the last quarter. Aigen Investment Management LP purchased a new position in shares of Arthur J. Gallagher & Co. during the fourth quarter valued at approximately $759,000. Aptus Capital Advisors LLC lifted its holdings in shares of Arthur J. Gallagher & Co. by 2.9% during the fourth quarter. Aptus Capital Advisors LLC now owns 5,087 shares of the financial services provider's stock valued at $1,316,000 after purchasing an additional 141 shares during the last quarter. Arete Wealth Advisors LLC lifted its holdings in shares of Arthur J. Gallagher & Co. by 26.7% during the fourth quarter. Arete Wealth Advisors LLC now owns 4,396 shares of the financial services provider's stock valued at $1,138,000 after purchasing an additional 927 shares during the last quarter. Finally, Jacobi Capital Management LLC lifted its holdings in shares of Arthur J. Gallagher & Co. by 83.1% during the fourth quarter. Jacobi Capital Management LLC now owns 1,741 shares of the financial services provider's stock valued at $450,000 after purchasing an additional 790 shares during the last quarter. 85.53% of the stock is currently owned by hedge funds and other institutional investors.

Arthur J. Gallagher & Co. Stock Down 1.1%

AJG opened at $218.53 on Friday. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.51. The firm has a 50 day moving average price of $210.97 and a 200-day moving average price of $228.06. Arthur J. Gallagher & Co. has a twelve month low of $190.75 and a twelve month high of $327.34. The stock has a market capitalization of $56.14 billion, a price-to-earnings ratio of 35.36, a PEG ratio of 1.11 and a beta of 0.52.

Arthur J. Gallagher & Co. (NYSE:AJG - Get Free Report) last released its quarterly earnings data on Thursday, April 30th. The financial services provider reported $4.47 earnings per share for the quarter, beating the consensus estimate of $4.43 by $0.04. Arthur J. Gallagher & Co. had a net margin of 10.76% and a return on equity of 12.83%. The firm had revenue of $4.71 billion during the quarter, compared to analysts' expectations of $4.73 billion. During the same period in the previous year, the company earned $3.67 earnings per share. The firm's quarterly revenue was up 29.0% on a year-over-year basis. Equities research analysts forecast that Arthur J. Gallagher & Co. will post 13.27 earnings per share for the current year.

Arthur J. Gallagher & Co. Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 19th. Investors of record on Friday, June 5th will be given a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 1.3%. The ex-dividend date is Friday, June 5th. Arthur J. Gallagher & Co.'s payout ratio is 45.31%.

Analyst Ratings Changes

AJG has been the subject of several recent research reports. Truist Financial lowered their target price on shares of Arthur J. Gallagher & Co. from $235.00 to $225.00 and set a "hold" rating for the company in a report on Friday, May 1st. Citigroup raised shares of Arthur J. Gallagher & Co. from a "neutral" rating to a "buy" rating and decreased their target price for the stock from $280.00 to $250.00 in a report on Wednesday, May 6th. Barclays lifted their target price on shares of Arthur J. Gallagher & Co. from $262.00 to $275.00 and gave the stock an "overweight" rating in a report on Wednesday, April 8th. Wall Street Zen raised shares of Arthur J. Gallagher & Co. from a "sell" rating to a "hold" rating in a report on Saturday, February 21st. Finally, Mizuho decreased their target price on shares of Arthur J. Gallagher & Co. from $260.00 to $259.00 and set an "outperform" rating for the company in a report on Monday, April 13th. Thirteen equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $263.71.

Insider Transactions at Arthur J. Gallagher & Co.

In related news, CAO Richard C. Cary sold 3,000 shares of the business's stock in a transaction that occurred on Tuesday, June 2nd. The shares were sold at an average price of $206.00, for a total transaction of $618,000.00. Following the completion of the sale, the chief accounting officer directly owned 47,819 shares in the company, valued at approximately $9,850,714. The trade was a 5.90% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 1.40% of the company's stock.

Arthur J. Gallagher & Co. Profile

Arthur J. Gallagher & Co is a global insurance brokerage and risk management firm headquartered in Rolling Meadows, Illinois. Founded in 1927 by Arthur J. Gallagher, the company has grown from a regional broker into an international professional services organization that arranges insurance, provides consulting and designs risk-transfer solutions for commercial, industrial, public sector and individual clients.

The company's core activities include property and casualty insurance brokerage, employee benefits consulting and administration, and a range of risk management services.

Want to see what other hedge funds are holding AJG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Arthur J. Gallagher & Co. (NYSE:AJG - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.