Campbell Newman Asset Management Inc. Acquires 17,196 Shares of Arthur J. Gallagher & Co. (NYSE:AJG)

Campbell Newman Asset Management Inc. raised its stake in Arthur J. Gallagher & Co. (NYSE:AJG - Free Report) by 13.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 141,163 shares of the financial services provider's stock after purchasing an additional 17,196 shares during the quarter. Arthur J. Gallagher & Co. makes up about 3.2% of Campbell Newman Asset Management Inc.'s portfolio, making the stock its 9th biggest holding. Campbell Newman Asset Management Inc. owned 0.06% of Arthur J. Gallagher & Co. worth $40,069,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the stock. The Manufacturers Life Insurance Company boosted its position in Arthur J. Gallagher & Co. by 219.6% during the second quarter. The Manufacturers Life Insurance Company now owns 1,043,769 shares of the financial services provider's stock worth $270,660,000 after purchasing an additional 717,221 shares during the period. Principal Financial Group Inc. lifted its stake in shares of Arthur J. Gallagher & Co. by 231.2% during the 3rd quarter. Principal Financial Group Inc. now owns 885,796 shares of the financial services provider's stock worth $249,237,000 after buying an additional 618,362 shares during the last quarter. FMR LLC grew its stake in Arthur J. Gallagher & Co. by 4.9% in the 3rd 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. raised its holdings in Arthur J. Gallagher & Co. by 6,581.9% in the 4th quarter. Assenagon Asset Management S.A. now owns 437,464 shares of the financial services provider's stock valued at $124,174,000 after acquiring an additional 430,917 shares during the period. Finally, Massachusetts Financial Services Co. MA boosted its holdings in shares of Arthur J. Gallagher & Co. by 13.6% during the third 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 period. Institutional investors and hedge funds own 85.53% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on AJG shares. Jefferies Financial Group increased their price objective on Arthur J. Gallagher & Co. from $269.00 to $274.00 and gave the stock a "hold" rating in a research report on Wednesday, October 9th. Royal Bank of Canada lifted their price objective on shares of Arthur J. Gallagher & Co. from $310.00 to $320.00 and gave the stock an "outperform" rating in a research note on Friday, September 20th. Truist Financial increased their target price on shares of Arthur J. Gallagher & Co. from $265.00 to $275.00 and gave the stock a "hold" rating in a research report on Friday, September 20th. Wells Fargo & Company boosted their price target on Arthur J. Gallagher & Co. from $315.00 to $344.00 and gave the company an "overweight" rating in a research note on Tuesday, December 10th. Finally, Keefe, Bruyette & Woods upgraded Arthur J. Gallagher & Co. from an "underperform" rating to a "market perform" rating and lowered their price objective for the stock from $292.00 to $286.00 in a research note on Friday, January 10th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $304.07.

Arthur J. Gallagher & Co. Trading Up 0.5 %

AJG traded up $1.47 during midday trading on Wednesday, hitting $290.58. 1,869,038 shares of the company were exchanged, compared to its average volume of 2,298,718. The firm has a market capitalization of $72.59 billion, a P/E ratio of 55.35, a P/E/G ratio of 2.41 and a beta of 0.76. The firm's 50 day moving average price is $291.88 and its 200-day moving average price is $286.33. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.64. Arthur J. Gallagher & Co. has a 1-year low of $227.08 and a 1-year high of $316.72.

Arthur J. Gallagher & Co. (NYSE:AJG - Get Free Report) last posted its quarterly earnings data on Thursday, October 24th. The financial services provider reported $2.26 EPS for the quarter, meeting analysts' consensus estimates of $2.26. Arthur J. Gallagher & Co. had a net margin of 10.40% and a return on equity of 19.12%. The company had revenue of $2.77 billion for the quarter, compared to analyst estimates of $2.78 billion. During the same period in the prior year, the firm posted $2.00 EPS. The company's quarterly revenue was up 12.8% on a year-over-year basis. As a group, equities analysts forecast that Arthur J. Gallagher & Co. will post 10.12 EPS for the current fiscal year.

Arthur J. Gallagher & Co. Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 20th. Stockholders of record on Friday, December 6th were given a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 0.83%. The ex-dividend date of this dividend was Friday, December 6th. Arthur J. Gallagher & Co.'s dividend payout ratio (DPR) is 45.71%.

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

In other Arthur J. Gallagher & Co. news, VP Christopher E. Mead sold 2,800 shares of the firm's stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $287.00, for a total value of $803,600.00. Following the completion of the sale, the vice president now owns 14,674 shares of the company's stock, valued at approximately $4,211,438. This trade represents a 16.02 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Douglas K. Howell sold 7,000 shares of the company's stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $284.70, for a total value of $1,992,900.00. Following the transaction, the chief financial officer now directly owns 75,963 shares in the company, valued at $21,626,666.10. The trade was a 8.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.60% of the company's stock.

Arthur J. Gallagher & Co. Company 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.