Sanibel Captiva Trust Company Inc. bought a new stake in Arthur J. Gallagher & Co. (NYSE:AJG - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 1,676 shares of the financial services provider's stock, valued at approximately $476,000.
Several other large investors have also made changes to their positions in the company. The Manufacturers Life Insurance Company increased its holdings in Arthur J. Gallagher & Co. by 219.6% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 1,043,769 shares of the financial services provider's stock valued at $270,660,000 after purchasing an additional 717,221 shares in the last quarter. Principal Financial Group Inc. increased its stake in shares of Arthur J. Gallagher & Co. by 231.2% in the third 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 in the last quarter. FMR LLC raised its holdings in shares of Arthur J. Gallagher & Co. by 4.9% in the third quarter. FMR LLC now owns 12,305,478 shares of the financial services provider's stock valued at $3,462,392,000 after buying an additional 580,134 shares during the last quarter. Assenagon Asset Management S.A. lifted its position in Arthur J. Gallagher & Co. by 6,581.9% during the 4th quarter. Assenagon Asset Management S.A. now owns 437,464 shares of the financial services provider's stock worth $124,174,000 after buying an additional 430,917 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA grew its holdings in Arthur J. Gallagher & Co. by 13.6% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 3,196,992 shares of the financial services provider's stock worth $899,538,000 after acquiring an additional 383,130 shares during the last quarter. Institutional investors own 85.53% of the company's stock.
Insider Activity
In other news, VP Christopher E. Mead sold 2,800 shares of Arthur J. Gallagher & Co. stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $287.00, for a total value of $803,600.00. Following the sale, the vice president now directly owns 14,674 shares in the company, valued at $4,211,438. This trade represents a 16.02 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Douglas K. Howell sold 7,000 shares of the stock in a transaction on Monday, October 28th. The stock was sold at an average price of $284.70, for a total transaction of $1,992,900.00. Following the transaction, the chief financial officer now owns 75,963 shares of the company's stock, valued at $21,626,666.10. The trade was a 8.44 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.60% of the company's stock.
Arthur J. Gallagher & Co. Trading Down 0.2 %
Shares of NYSE AJG traded down $0.57 during midday trading on Monday, reaching $295.22. 1,261,458 shares of the stock were exchanged, compared to its average volume of 2,133,369. Arthur J. Gallagher & Co. has a 12 month low of $227.08 and a 12 month high of $316.72. The company has a market capitalization of $73.75 billion, a price-to-earnings ratio of 56.23 and a beta of 0.76. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.06 and a quick ratio of 1.06. The business has a 50-day simple moving average of $291.99 and a two-hundred day simple moving average of $287.02.
Arthur J. Gallagher & Co. (NYSE:AJG - Get Free Report) last announced its quarterly earnings results on Thursday, October 24th. The financial services provider reported $2.26 earnings per share (EPS) for the quarter, hitting the consensus estimate of $2.26. Arthur J. Gallagher & Co. had a return on equity of 19.12% and a net margin of 10.40%. The company had revenue of $2.77 billion during the quarter, compared to the consensus estimate of $2.78 billion. During the same period in the prior year, the company earned $2.00 earnings per share. The company's revenue for the quarter was up 12.8% compared to the same quarter last year. As a group, equities research analysts expect that Arthur J. Gallagher & Co. will post 10.06 EPS for the current year.
Arthur J. Gallagher & Co. Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Friday, December 20th. Shareholders of record on Friday, December 6th were paid a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 0.81%. The ex-dividend date was Friday, December 6th. Arthur J. Gallagher & Co.'s payout ratio is currently 45.71%.
Wall Street Analyst Weigh In
A number of equities analysts have recently issued reports on AJG shares. Bank of America upped their target price on shares of Arthur J. Gallagher & Co. from $271.00 to $293.00 and gave the stock an "underperform" rating in a research report on Thursday, October 10th. The Goldman Sachs Group downgraded Arthur J. Gallagher & Co. from a "buy" rating to a "neutral" rating and set a $313.00 price objective on the stock. in a report on Monday, November 25th. Piper Sandler raised Arthur J. Gallagher & Co. from a "neutral" rating to an "overweight" rating and lifted their target price for the company from $285.00 to $315.00 in a research note on Wednesday, January 8th. Keefe, Bruyette & Woods upgraded Arthur J. Gallagher & Co. from an "underperform" rating to a "market perform" rating and decreased their price target for the company from $292.00 to $286.00 in a report on Friday, January 10th. Finally, Wells Fargo & Company boosted their price objective on Arthur J. Gallagher & Co. from $315.00 to $344.00 and gave the stock an "overweight" rating in a report on Tuesday, December 10th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, Arthur J. Gallagher & Co. presently has an average rating of "Hold" and an average target price of $304.07.
Check Out Our Latest Research Report on AJG
Arthur J. Gallagher & Co. Company Profile
(
Free Report)
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 business segments: Brokerage, Risk Management, and Corporate. The Brokerage segment consists of retail and wholesale insurance brokerage operations.
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