Mackenzie Financial Corp Acquires 20,437 Shares of Arthur J. Gallagher & Co. (NYSE:AJG)

Mackenzie Financial Corp grew its stake in Arthur J. Gallagher & Co. (NYSE:AJG - Free Report) by 19.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 125,588 shares of the financial services provider's stock after acquiring an additional 20,437 shares during the quarter. Mackenzie Financial Corp owned 0.05% of Arthur J. Gallagher & Co. worth $35,648,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Mutual Advisors LLC increased its stake in Arthur J. Gallagher & Co. by 12.1% during the 4th quarter. Mutual Advisors LLC now owns 1,790 shares of the financial services provider's stock worth $530,000 after purchasing an additional 193 shares in the last quarter. Exchange Traded Concepts LLC increased its stake in Arthur J. Gallagher & Co. by 303.0% during the 4th quarter. Exchange Traded Concepts LLC now owns 10,592 shares of the financial services provider's stock worth $3,007,000 after purchasing an additional 7,964 shares in the last quarter. Fifth Third Bancorp increased its stake in Arthur J. Gallagher & Co. by 1.5% during the 4th quarter. Fifth Third Bancorp now owns 27,094 shares of the financial services provider's stock worth $7,691,000 after purchasing an additional 403 shares in the last quarter. Grimes & Company Inc. lifted its holdings in shares of Arthur J. Gallagher & Co. by 1.1% in the fourth quarter. Grimes & Company Inc. now owns 7,255 shares of the financial services provider's stock valued at $2,059,000 after purchasing an additional 79 shares in the last quarter. Finally, Running Oak Capital LLC lifted its holdings in shares of Arthur J. Gallagher & Co. by 8.9% in the fourth 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 in the last quarter. 85.53% of the stock is owned by institutional investors.

Insider Buying and Selling at Arthur J. Gallagher & Co.

In other news, VP Scott R. Hudson sold 7,510 shares of the business's stock in a transaction dated Friday, March 21st. The stock was 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 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 document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Susan E. Pietrucha sold 13,500 shares of the stock in a transaction that occurred on Monday, May 19th. The stock was sold at an average price of $344.13, for a total value of $4,645,755.00. Following the transaction, the insider now owns 11,941 shares in the company, valued at $4,109,256.33. The trade was a 53.06% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 32,510 shares of company stock worth $11,033,341 over the last quarter. Corporate insiders own 1.60% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on AJG shares. Royal Bank of Canada boosted their price target on 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 cut their price target on 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. Truist Financial boosted their price target on Arthur J. Gallagher & Co. from $275.00 to $290.00 and gave the company a "hold" rating in a report on Friday, January 31st. Keefe, Bruyette & Woods upped their target price on 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 started coverage on Arthur J. Gallagher & Co. in a research note on Tuesday, March 25th. They issued a "neutral" rating and a $352.00 price objective on the stock. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of "Hold" and an average price target of $318.57.

Arthur J. Gallagher & Co. Price Performance

NYSE:AJG traded up $1.74 during trading hours on Thursday, reaching $341.54. 628,777 shares of the company were exchanged, compared to its average volume of 1,319,552. The company has a market capitalization of $87.47 billion, a P/E ratio of 52.38 and a beta of 0.78. Arthur J. Gallagher & Co. has a 1-year low of $244.60 and a 1-year high of $350.70. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.51 and a quick ratio of 1.51. The business has a 50 day moving average of $332.58 and a 200 day moving average of $314.63.

Arthur J. Gallagher & Co. (NYSE:AJG - Get Free Report) last announced its quarterly earnings data 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 company posted $3.45 earnings per share. The business's revenue for the quarter was up 14.5% on a year-over-year basis. Research analysts forecast that Arthur J. Gallagher & Co. will post 11.54 EPS for the current year.

Arthur J. Gallagher & Co. Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 20th. Shareholders of record on Friday, June 6th will be given a $0.65 dividend. The ex-dividend date of this dividend is Friday, June 6th. This represents a $2.60 dividend on an annualized basis and a yield of 0.76%. Arthur J. Gallagher & Co.'s dividend payout ratio is currently 37.63%.

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.