Pathstone Holdings LLC Has $9.88 Million Stock Position in Arthur J. Gallagher & Co. (NYSE:AJG)

Pathstone Holdings LLC boosted its position in Arthur J. Gallagher & Co. (NYSE:AJG - Free Report) by 5.4% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 34,813 shares of the financial services provider's stock after purchasing an additional 1,793 shares during the quarter. Pathstone Holdings LLC's holdings in Arthur J. Gallagher & Co. were worth $9,882,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Norges Bank purchased a new position in Arthur J. Gallagher & Co. during the 4th quarter valued at about $1,421,591,000. Vanguard Group Inc. increased its holdings in shares of Arthur J. Gallagher & Co. by 14.9% in the fourth quarter. Vanguard Group Inc. now owns 29,672,134 shares of the financial services provider's stock valued at $8,422,435,000 after purchasing an additional 3,851,661 shares during the period. Winslow Capital Management LLC acquired a new position in Arthur J. Gallagher & Co. during the fourth quarter worth $719,489,000. Capital World Investors grew its holdings in Arthur J. Gallagher & Co. by 30.4% during the fourth quarter. Capital World Investors now owns 8,199,413 shares of the financial services provider's stock worth $2,327,403,000 after acquiring an additional 1,910,471 shares during the period. Finally, Wellington Management Group LLP boosted its position in Arthur J. Gallagher & Co. by 162.0% during the fourth quarter. Wellington Management Group LLP now owns 2,822,319 shares of the financial services provider's stock worth $801,115,000 after purchasing an additional 1,745,283 shares in the last quarter. 85.53% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, VP Scott R. Hudson sold 7,510 shares of the company'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 sale, the vice president now owns 90,020 shares in the company, valued at $30,029,771.80. This represents a 7.70% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 1.60% of the stock is currently owned by corporate insiders.

Arthur J. Gallagher & Co. Stock Up 0.4%

NYSE AJG traded up $1.35 during trading on Monday, hitting $343.59. 610,927 shares of the company traded hands, compared to its average volume of 1,314,752. 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 business has a fifty day simple moving average of $330.80 and a 200 day simple moving average of $312.07. The company has a market capitalization of $87.99 billion, a P/E ratio of 52.70 and a beta of 0.78. Arthur J. Gallagher & Co. has a 12 month low of $244.60 and a 12 month high of $350.70.

Arthur J. Gallagher & Co. (NYSE:AJG - Get Free Report) last issued 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. The firm had revenue of $3.69 billion for the quarter, compared to analyst estimates of $3.85 billion. Arthur J. Gallagher & Co. had a return on equity of 16.47% and a net margin of 12.70%. The company's quarterly revenue was up 14.5% compared to the same quarter last year. During the same period in the previous year, the company posted $3.45 earnings per share. As a group, sell-side analysts predict that Arthur J. Gallagher & Co. will post 11.54 EPS for the current year.

Arthur J. Gallagher & Co. Announces Dividend

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

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on AJG. Wells Fargo & Company upped their price objective on Arthur J. Gallagher & Co. from $370.00 to $372.00 and gave the company an "overweight" rating in a research report on Thursday, April 10th. Barclays increased their target price on Arthur J. Gallagher & Co. from $308.00 to $346.00 and gave the stock an "equal weight" rating in a report on Friday, April 11th. Royal Bank of Canada raised their target price on Arthur J. Gallagher & Co. from $320.00 to $340.00 and gave the company an "outperform" rating in a research report on Friday, January 31st. Truist Financial lifted their price target on Arthur J. Gallagher & Co. from $275.00 to $290.00 and gave the company a "hold" rating in a research report on Friday, January 31st. Finally, Redburn Atlantic assumed coverage on Arthur J. Gallagher & Co. in a research report on Tuesday, March 25th. They issued 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 assigned a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, Arthur J. Gallagher & Co. presently has a consensus rating of "Hold" and an average target price of $318.57.

About Arthur J. Gallagher & Co.

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.