Public Employees Retirement System of Ohio acquired a new position in shares of Arthur J. Gallagher & Co. (NYSE:AJG - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 84,473 shares of the financial services provider's stock, valued at approximately $23,978,000.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Running Oak Capital LLC increased its holdings 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 worth $13,830,000 after purchasing an additional 3,983 shares in the last quarter. Hartford Investment Management Co. grew 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 acquiring an additional 1,537 shares in the last quarter. Iams Wealth Management LLC grew 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 acquiring an additional 3,138 shares in the last quarter. Retirement Systems of Alabama grew 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 acquiring an additional 6,905 shares in the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd grew 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 acquiring an additional 5,333 shares in the last quarter. 85.53% of the stock is owned by institutional investors.
Analyst Ratings Changes
Several equities analysts recently commented on the company. Keefe, Bruyette & Woods upped their price objective on Arthur J. Gallagher & Co. from $307.00 to $315.00 and gave the company a "market perform" rating in a research note on Friday, May 2nd. Barclays upped their price objective on Arthur J. Gallagher & Co. from $308.00 to $346.00 and gave the company an "equal weight" rating in a research note on Friday, April 11th. Jefferies Financial Group dropped 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 note on Friday, April 11th. Redburn Atlantic assumed 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. Finally, Truist Financial upped their price objective on 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 assigned a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $318.57.
View Our Latest Stock Report on AJG
Insider Transactions at Arthur J. Gallagher & Co.
In other news, VP Scott R. Hudson sold 7,510 shares of the firm's stock in a transaction that occurred 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 transaction, the vice president now owns 90,020 shares in the company, valued at approximately $30,029,771.80. This trade represents a 7.70% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director David S. Johnson sold 1,000 shares of the firm's stock in a transaction that occurred on Friday, May 16th. The stock was sold at an average price of $342.04, for a total transaction of $342,040.00. Following the completion of the transaction, the director now owns 45,323 shares in the company, valued at $15,502,278.92. This represents a 2.16% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 32,510 shares of company stock worth $11,033,341. Insiders own 1.60% of the company's stock.
Arthur J. Gallagher & Co. Stock Performance
Shares of NYSE:AJG traded down $3.36 during trading on Wednesday, hitting $339.39. 1,136,656 shares of the company were exchanged, compared to its average volume of 1,322,315. The company has a market cap of $86.92 billion, a PE ratio of 52.05 and a beta of 0.78. The stock has a 50 day moving average of $332.44 and a 200 day moving average of $314.45. Arthur J. Gallagher & Co. has a 52-week low of $244.60 and a 52-week 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.
Arthur J. Gallagher & Co. (NYSE:AJG - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The financial services provider reported $3.67 earnings per share for the quarter, beating analysts' consensus estimates of $3.57 by $0.10. Arthur J. Gallagher & Co. had a return on equity of 16.47% and a net margin of 12.70%. The firm had revenue of $3.69 billion during the quarter, compared to analyst estimates of $3.85 billion. During the same quarter in the prior year, the firm posted $3.45 earnings per share. The business's quarterly revenue was up 14.5% compared to the same quarter last year. As a group, equities research analysts predict that Arthur J. Gallagher & Co. will post 11.54 EPS for the current year.
Arthur J. Gallagher & Co. Announces Dividend
The company also recently announced 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 0.77%. The ex-dividend date of this dividend is Friday, June 6th. Arthur J. Gallagher & Co.'s dividend payout ratio is 37.63%.
About Arthur J. Gallagher & Co.
(
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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