Rakuten Investment Management Inc. reduced its position in Arthur J. Gallagher & Co. (NYSE:AJG - Free Report) by 15.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 33,765 shares of the financial services provider's stock after selling 6,194 shares during the quarter. Rakuten Investment Management Inc.'s holdings in Arthur J. Gallagher & Co. were worth $8,885,000 at the end of the most recent reporting period.
A number of other large investors have also recently made changes to their positions in the stock. Vanguard Group Inc. grew its holdings in shares of Arthur J. Gallagher & Co. by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 31,390,446 shares of the financial services provider's stock valued at $8,123,534,000 after buying an additional 217,136 shares during the last quarter. Capital World Investors grew its holdings in shares of Arthur J. Gallagher & Co. by 7.0% during the fourth quarter. Capital World Investors now owns 12,613,371 shares of the financial services provider's stock valued at $3,264,359,000 after buying an additional 830,252 shares during the last quarter. State Street Corp grew its holdings in shares of Arthur J. Gallagher & Co. by 0.6% during the fourth quarter. State Street Corp now owns 10,953,598 shares of the financial services provider's stock valued at $2,834,682,000 after buying an additional 62,518 shares during the last quarter. Norges Bank purchased a new stake in shares of Arthur J. Gallagher & Co. during the fourth quarter valued at $1,925,062,000. Finally, Capital International Investors grew its holdings in shares of Arthur J. Gallagher & Co. by 0.6% during the third quarter. Capital International Investors now owns 7,194,743 shares of the financial services provider's stock valued at $2,228,156,000 after buying an additional 45,256 shares during the last quarter. 85.53% of the stock is owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
A number of equities research analysts have recently weighed in on the stock. Citigroup raised shares of Arthur J. Gallagher & Co. from a "neutral" rating to a "buy" rating and dropped their price objective for the company from $280.00 to $250.00 in a report on Wednesday, May 6th. Truist Financial dropped their price objective on shares of Arthur J. Gallagher & Co. from $235.00 to $225.00 and set a "hold" rating on the stock in a report on Friday, May 1st. Wells Fargo & Company dropped their price objective on shares of Arthur J. Gallagher & Co. from $273.00 to $266.00 and set an "overweight" rating on the stock in a report on Thursday, April 9th. Morgan Stanley lowered their price target on shares of Arthur J. Gallagher & Co. from $265.00 to $240.00 and set an "overweight" rating on the stock in a report on Thursday, May 21st. Finally, 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. Thirteen analysts have rated the stock with a Buy rating and six have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $263.71.
View Our Latest Stock Analysis on Arthur J. Gallagher & Co.
Insider Buying and Selling at Arthur J. Gallagher & Co.
In other Arthur J. Gallagher & Co. news, CAO Richard C. Cary sold 3,000 shares of the company's stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of $206.00, for a total value of $618,000.00. Following the completion of the transaction, the chief accounting officer owned 47,819 shares in the company, valued at approximately $9,850,714. This represents a 5.90% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 1.40% of the company's stock.
Arthur J. Gallagher & Co. Price Performance
NYSE:AJG opened at $216.16 on Wednesday. Arthur J. Gallagher & Co. has a one year low of $190.75 and a one year high of $327.34. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.06 and a current ratio of 1.06. The firm has a market cap of $55.53 billion, a price-to-earnings ratio of 34.98, a PEG ratio of 1.09 and a beta of 0.52. The firm's fifty day moving average is $210.90 and its two-hundred day moving average is $227.44.
Arthur J. Gallagher & Co. (NYSE:AJG - Get Free Report) last posted its quarterly earnings results on Thursday, April 30th. The financial services provider reported $4.47 EPS 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 company had revenue of $4.71 billion for the quarter, compared to analyst estimates of $4.73 billion. During the same period in the prior year, the company earned $3.67 earnings per share. The firm's revenue was up 29.0% on a year-over-year basis. Research analysts expect that Arthur J. Gallagher & Co. will post 13.27 EPS for the current year.
Arthur J. Gallagher & Co. Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 19th. Shareholders of record on Friday, June 5th will be given a $0.70 dividend. The ex-dividend date is Friday, June 5th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 1.3%. Arthur J. Gallagher & Co.'s dividend payout ratio is 45.31%.
About Arthur J. Gallagher & Co.
(
Free Report)
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.
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