Massachusetts Financial Services Co. MA Has $1.14 Billion Stock Position in Arthur J. Gallagher & Co. (NYSE:AJG)

Massachusetts Financial Services Co. MA cut its holdings in shares of Arthur J. Gallagher & Co. (NYSE:AJG - Free Report) by 6.3% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 5,055,719 shares of the financial services provider's stock after selling 340,631 shares during the quarter. Massachusetts Financial Services Co. MA owned 2.34% of Arthur J. Gallagher & Co. worth $1,136,930,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Mirae Asset Global Investments Co. Ltd. raised its position in Arthur J. Gallagher & Co. by 45.3% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 43,558 shares of the financial services provider's stock valued at $9,928,000 after acquiring an additional 13,571 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its stake in shares of Arthur J. Gallagher & Co. by 68.5% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 48,770 shares of the financial services provider's stock valued at $11,116,000 after purchasing an additional 19,833 shares during the last quarter. Perigon Wealth Management LLC acquired a new position in Arthur J. Gallagher & Co. during the third quarter worth $248,000. Choate Investment Advisors raised its holdings in Arthur J. Gallagher & Co. by 14.4% during the third quarter. Choate Investment Advisors now owns 1,390 shares of the financial services provider's stock valued at $317,000 after buying an additional 175 shares in the last quarter. Finally, First Citizens Bank & Trust Co. bought a new stake in shares of Arthur J. Gallagher & Co. during the 3rd quarter worth about $204,000. Hedge funds and other institutional investors own 85.53% of the company's stock.

Insider Activity

In related news, VP Scott R. Hudson sold 15,000 shares of Arthur J. Gallagher & Co. stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $255.06, for a total transaction of $3,825,900.00. Following the completion of the transaction, the vice president now directly owns 96,709 shares of the company's stock, valued at approximately $24,666,597.54. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Arthur J. Gallagher & Co. news, VP Scott R. Hudson sold 15,000 shares of the business's stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $255.06, for a total value of $3,825,900.00. Following the transaction, the vice president now owns 96,709 shares of the company's stock, valued at $24,666,597.54. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, VP Joel D. Cavaness sold 1,207 shares of the firm's stock in a transaction on Monday, March 18th. The shares were sold at an average price of $255.20, for a total value of $308,026.40. Following the completion of the sale, the vice president now owns 2,023 shares of the company's stock, valued at $516,269.60. The disclosure for this sale can be found here. 1.60% of the stock is owned by corporate insiders.

Arthur J. Gallagher & Co. Stock Performance

Arthur J. Gallagher & Co. stock traded down $1.32 on Monday, hitting $249.50. The company's stock had a trading volume of 724,396 shares, compared to its average volume of 857,469. Arthur J. Gallagher & Co. has a one year low of $198.52 and a one year high of $256.10. The firm has a market cap of $54.52 billion, a P/E ratio of 50.51, a price-to-earnings-growth ratio of 2.34 and a beta of 0.69. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.70. The company has a fifty day moving average price of $243.92 and a 200-day moving average price of $239.65.

Arthur J. Gallagher & Co. (NYSE:AJG - Get Free Report) last posted its quarterly earnings results on Thursday, April 25th. The financial services provider reported $3.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.41 by $0.08. Arthur J. Gallagher & Co. had a net margin of 10.27% and a return on equity of 18.94%. The firm had revenue of $3.22 billion during the quarter, compared to analyst estimates of $3.18 billion. During the same quarter in the prior year, the business posted $3.03 earnings per share. The company's quarterly revenue was up 20.4% compared to the same quarter last year. On average, equities analysts anticipate that Arthur J. Gallagher & Co. will post 10.08 earnings per share for the current year.

Arthur J. Gallagher & Co. Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 21st. Shareholders of record on Friday, June 7th will be issued a dividend of $0.60 per share. The ex-dividend date of this dividend is Friday, June 7th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 0.96%. Arthur J. Gallagher & Co.'s payout ratio is presently 48.58%.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the company. Truist Financial reaffirmed a "hold" rating and set a $255.00 target price (down previously from $280.00) on shares of Arthur J. Gallagher & Co. in a research report on Wednesday, April 10th. Keefe, Bruyette & Woods lowered their target price on shares of Arthur J. Gallagher & Co. from $246.00 to $240.00 and set an "underperform" rating on the stock in a research note on Wednesday, April 10th. Royal Bank of Canada upped their price target on shares of Arthur J. Gallagher & Co. from $270.00 to $282.00 and gave the company an "outperform" rating in a report on Friday, March 22nd. TD Cowen lifted their price objective on Arthur J. Gallagher & Co. from $249.00 to $273.00 and gave the stock a "hold" rating in a research note on Tuesday, April 2nd. Finally, Piper Sandler decreased their target price on Arthur J. Gallagher & Co. from $253.00 to $252.00 and set a "neutral" rating for the company in a research note on Monday, April 29th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $255.31.

Arthur J. Gallagher & Co. Profile

Arthur J. Gallagher & Co, together with its subsidiaries, provides insurance and reinsurance brokerage, consulting, and third-party property/casualty claims settlement and administration services to entities and individuals worldwide. It operates in Brokerage and Risk Management segments. The Brokerage segment offers retail and wholesale insurance and reinsurance brokerage services; assists retail brokers and other non-affiliated brokers in the placement of specialized and hard-to-place insurance; and acts as a brokerage wholesaler, managing general agent, and managing general underwriter for distributing specialized insurance coverages to underwriting enterprises.

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