T. Rowe Price Investment Management Inc. Sells 51,027 Shares of Arthur J. Gallagher & Co. (NYSE:AJG)

T. Rowe Price Investment Management Inc. cut its position in Arthur J. Gallagher & Co. (NYSE:AJG - Free Report) by 29.5% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 121,682 shares of the financial services provider's stock after selling 51,027 shares during the period. T. Rowe Price Investment Management Inc.'s holdings in Arthur J. Gallagher & Co. were worth $34,540,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in AJG. Wealth Enhancement Advisory Services LLC boosted its stake in shares of Arthur J. Gallagher & Co. by 21.2% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 67,146 shares of the financial services provider's stock worth $18,893,000 after acquiring an additional 11,752 shares during the period. Principal Financial Group Inc. grew its position in shares of Arthur J. Gallagher & Co. by 231.2% in the 3rd quarter. Principal Financial Group Inc. now owns 885,796 shares of the financial services provider's stock valued at $249,237,000 after buying an additional 618,362 shares during the last quarter. Running Oak Capital LLC lifted 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 buying an additional 3,983 shares during the period. Nordea Investment Management AB grew its stake in Arthur J. Gallagher & Co. by 16.7% in the fourth quarter. Nordea Investment Management AB now owns 22,436 shares of the financial services provider's stock valued at $6,381,000 after acquiring an additional 3,217 shares during the period. Finally, Campbell Newman Asset Management Inc. raised its stake in shares of Arthur J. Gallagher & Co. by 13.9% in the fourth quarter. Campbell Newman Asset Management Inc. now owns 141,163 shares of the financial services provider's stock worth $40,069,000 after purchasing an additional 17,196 shares during the last quarter. 85.53% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on AJG shares. Piper Sandler raised Arthur J. Gallagher & Co. from a "neutral" rating to an "overweight" rating and raised their price target for the stock from $285.00 to $315.00 in a report on Wednesday, January 8th. Barclays raised their target price on shares of 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. Truist Financial increased their price target on Arthur J. Gallagher & Co. from $275.00 to $290.00 and gave the company a "hold" rating in a report on Friday, January 31st. Royal Bank of Canada increased their target price on Arthur J. Gallagher & Co. from $320.00 to $340.00 and gave the stock an "outperform" rating in a research report on Friday, January 31st. Finally, TD Cowen raised shares of Arthur J. Gallagher & Co. from a "hold" rating to a "buy" rating and lifted their price objective for the stock from $295.00 to $377.00 in a research note on Friday, January 10th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $315.27.

Insider Buying and Selling at Arthur J. Gallagher & Co.

In related news, VP Christopher E. Mead sold 2,900 shares of the stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $302.61, for a total transaction of $877,569.00. Following the completion of the transaction, the vice president now directly owns 14,674 shares of the company's stock, valued at approximately $4,440,499.14. This represents a 16.50 % 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, Director Sherry S. Barrat sold 2,500 shares of the stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $304.33, for a total value of $760,825.00. Following the completion of the sale, the director now owns 16,533 shares in the company, valued at approximately $5,031,487.89. This trade represents a 13.14 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 23,235 shares of company stock valued at $7,478,224. Corporate insiders own 1.60% of the company's stock.

Arthur J. Gallagher & Co. Trading Up 1.0 %

Shares of NYSE:AJG traded up $3.13 during midday trading on Wednesday, reaching $320.27. The company had a trading volume of 3,032,197 shares, compared to its average volume of 1,287,702. The firm has a market cap of $81.90 billion, a price-to-earnings ratio of 49.12 and a beta of 0.64. Arthur J. Gallagher & Co. has a 1-year low of $232.58 and a 1-year high of $350.70. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.51 and a current ratio of 1.51. The company has a fifty day simple moving average of $330.42 and a two-hundred day simple moving average of $307.71.

Arthur J. Gallagher & Co. (NYSE:AJG - Get Free Report) last announced its earnings results on Thursday, January 30th. The financial services provider reported $2.13 earnings per share for the quarter, beating the consensus estimate of $2.03 by $0.10. Arthur J. Gallagher & Co. had a return on equity of 16.47% and a net margin of 12.70%. Research analysts predict that Arthur J. Gallagher & Co. will post 11.54 earnings per share for the current year.

Arthur J. Gallagher & Co. Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 20th. Investors of record on Friday, June 6th will be paid a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a dividend yield of 0.81%. Arthur J. Gallagher & Co.'s dividend payout ratio (DPR) is 39.88%.

Arthur J. Gallagher & Co. 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.