Sandia Investment Management LP Takes Position in Arthur J. Gallagher & Co. (NYSE:AJG)

Sandia Investment Management LP acquired a new stake in Arthur J. Gallagher & Co. (NYSE:AJG - Free Report) in the 4th quarter, according to the company in its most recent filing with the SEC. The fund acquired 5,000 shares of the financial services provider's stock, valued at approximately $1,419,000. Arthur J. Gallagher & Co. comprises approximately 3.3% of Sandia Investment Management LP's investment portfolio, making the stock its 5th biggest holding.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Running Oak Capital LLC boosted its stake in 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 acquiring an additional 3,983 shares during the last quarter. Red Spruce Capital LLC bought a new stake in Arthur J. Gallagher & Co. in the fourth quarter valued at about $298,000. Hartford Investment Management Co. increased its holdings in 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 purchasing an additional 1,537 shares during the last quarter. Iams Wealth Management LLC increased its holdings in 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 purchasing an additional 3,138 shares during the last quarter. Finally, Retirement Systems of Alabama increased its holdings in 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 purchasing an additional 6,905 shares during the last quarter. Institutional investors own 85.53% of the company's stock.

Insider Activity at Arthur J. Gallagher & Co.

In related news, Director David S. Johnson sold 1,000 shares of the 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 directly owns 45,323 shares of the company's stock, valued at approximately $15,502,278.92. This represents a 2.16% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Scott R. Hudson sold 7,510 shares of the 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 directly owns 90,020 shares of the company's stock, valued at $30,029,771.80. This trade represents a 7.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 22,010 shares of company stock valued at $7,493,056. Insiders own 1.60% of the company's stock.

Arthur J. Gallagher & Co. Stock Down 1.0%

Shares of AJG stock traded down $3.59 on Tuesday, hitting $340.23. 908,691 shares of the stock were exchanged, compared to its average volume of 1,315,628. 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 firm has a market capitalization of $87.13 billion, a P/E ratio of 52.18 and a beta of 0.78. The business has a 50-day moving average of $331.16 and a 200 day moving average of $312.51. Arthur J. Gallagher & Co. has a fifty-two week low of $244.60 and a fifty-two week high of $350.70.

Arthur J. Gallagher & Co. (NYSE:AJG - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The financial services provider reported $3.67 earnings per share for the quarter, topping the consensus estimate of $3.57 by $0.10. The company had revenue of $3.69 billion during the quarter, compared to analysts' expectations of $3.85 billion. Arthur J. Gallagher & Co. had a return on equity of 16.47% and a net margin of 12.70%. Arthur J. Gallagher & Co.'s revenue for the quarter was up 14.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $3.45 earnings per share. Equities analysts anticipate that Arthur J. Gallagher & Co. will post 11.54 EPS for the current year.

Arthur J. Gallagher & Co. Dividend Announcement

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

Analysts Set New Price Targets

A number of equities research analysts recently commented on the company. 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 report on Thursday, April 10th. Royal Bank of Canada upped their price objective 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 dropped their price objective on Arthur J. Gallagher & Co. from $266.00 to $265.00 and set a "hold" rating for the company in a report on Friday, April 11th. Truist Financial boosted their target price 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. Finally, Keefe, Bruyette & Woods boosted their target price 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. 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 stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $318.57.

Arthur J. Gallagher & Co. Company 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.