Integrated Advisors Network LLC bought a new stake in Arthur J. Gallagher & Co. (NYSE:AJG - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 2,251 shares of the financial services provider's stock, valued at approximately $639,000.
Other institutional investors also recently modified their holdings of the company. Hartford Investment Management Co. increased its holdings in shares of Arthur J. Gallagher & Co. by 11.1% in the fourth quarter. Hartford Investment Management Co. now owns 15,434 shares of the financial services provider's stock valued at $4,381,000 after purchasing an additional 1,537 shares in the last quarter. Iams Wealth Management LLC increased its holdings in shares of Arthur J. Gallagher & Co. by 65.0% in the fourth quarter. Iams Wealth Management LLC now owns 7,962 shares of the financial services provider's stock valued at $2,260,000 after purchasing an additional 3,138 shares in the last quarter. Retirement Systems of Alabama increased its holdings in shares of Arthur J. Gallagher & Co. by 4.0% in the fourth quarter. Retirement Systems of Alabama now owns 181,269 shares of the financial services provider's stock valued at $51,453,000 after purchasing an additional 6,905 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd increased its holdings in shares of Arthur J. Gallagher & Co. by 23.5% in the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 28,055 shares of the financial services provider's stock valued at $7,963,000 after purchasing an additional 5,333 shares in the last quarter. Finally, Baltimore Washington Financial Advisors Inc. increased its holdings in shares of Arthur J. Gallagher & Co. by 13.7% in the fourth quarter. Baltimore Washington Financial Advisors Inc. now owns 51,745 shares of the financial services provider's stock valued at $14,688,000 after purchasing an additional 6,248 shares in the last quarter. Institutional investors own 85.53% of the company's stock.
Analyst Ratings Changes
A number of analysts recently weighed in on the stock. Royal Bank of Canada raised their price target on shares of Arthur J. Gallagher & Co. from $320.00 to $340.00 and gave the company an "outperform" rating in a report on Friday, January 31st. Jefferies Financial Group lowered their price target on shares of Arthur J. Gallagher & Co. from $266.00 to $265.00 and set a "hold" rating for the company in a report on Friday, April 11th. Wells Fargo & Company raised their price target on shares of Arthur J. Gallagher & Co. from $370.00 to $372.00 and gave the company an "overweight" rating in a report on Thursday, April 10th. Keefe, Bruyette & Woods lifted their target price on shares of Arthur J. Gallagher & Co. from $307.00 to $315.00 and gave the stock a "market perform" rating in a report on Friday, May 2nd. Finally, Redburn Atlantic assumed coverage on shares of Arthur J. Gallagher & Co. in a report on Tuesday, March 25th. They set a "neutral" rating and a $352.00 target price for the company. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and five have issued a buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $318.57.
Check Out Our Latest Report on AJG
Insider Activity
In other news, VP Scott R. Hudson sold 7,510 shares of the business's stock in a transaction on 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 completion of the transaction, the vice president now owns 90,020 shares of the company's stock, valued at $30,029,771.80. The trade was a 7.70% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director David S. Johnson sold 1,000 shares of the business's stock in a transaction on Friday, May 16th. The shares were sold at an average price of $342.04, for a total transaction of $342,040.00. Following the completion of the sale, the director now directly owns 45,323 shares in the company, valued at $15,502,278.92. This represents a 2.16% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 32,510 shares of company stock valued at $11,033,341 in the last quarter. Company insiders own 1.60% of the company's stock.
Arthur J. Gallagher & Co. Trading Up 1.7%
Shares of AJG stock traded up $5.74 on Friday, hitting $347.64. The stock had a trading volume of 2,545,224 shares, compared to its average volume of 1,330,346. Arthur J. Gallagher & Co. has a twelve month low of $250.51 and a twelve month high of $350.70. The firm has a market cap of $89.03 billion, a P/E ratio of 53.32 and a beta of 0.78. The company has a current ratio of 1.51, a quick ratio of 1.51 and a debt-to-equity ratio of 0.63. The company has a fifty day moving average price of $332.85 and a two-hundred day moving average price of $315.32.
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, beating the consensus estimate 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 quarter in the previous year, the business earned $3.45 EPS. The firm's revenue was up 14.5% on a year-over-year basis. As a group, analysts forecast that Arthur J. Gallagher & Co. will post 11.54 earnings per share for the current fiscal year.
Arthur J. Gallagher & Co. Announces Dividend
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. This represents a $2.60 annualized dividend and a dividend yield of 0.75%. The ex-dividend date of this dividend is Friday, June 6th. Arthur J. Gallagher & Co.'s dividend payout ratio (DPR) is 37.63%.
Arthur J. Gallagher & Co. Company Profile
(
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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