Iams Wealth Management LLC Has $2.26 Million Holdings in Arthur J. Gallagher & Co. (NYSE:AJG)

Iams Wealth Management LLC raised its stake in shares of Arthur J. Gallagher & Co. (NYSE:AJG - Free Report) by 65.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 7,962 shares of the financial services provider's stock after purchasing an additional 3,138 shares during the quarter. Arthur J. Gallagher & Co. accounts for 1.0% of Iams Wealth Management LLC's portfolio, making the stock its 27th largest holding. Iams Wealth Management LLC's holdings in Arthur J. Gallagher & Co. were worth $2,260,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of AJG. FMR LLC grew its position in 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 acquiring an additional 580,134 shares during the period. State Street Corp grew its holdings in shares of Arthur J. Gallagher & Co. by 0.5% in the 3rd quarter. State Street Corp now owns 8,932,007 shares of the financial services provider's stock worth $2,513,199,000 after purchasing an additional 47,656 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Arthur J. Gallagher & Co. by 1.5% during the 3rd quarter. Geode Capital Management LLC now owns 5,490,728 shares of the financial services provider's stock worth $1,541,044,000 after purchasing an additional 79,429 shares in the last quarter. Massachusetts Financial Services Co. MA lifted 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 valued at $899,538,000 after purchasing an additional 383,130 shares during the last quarter. Finally, Janus Henderson Group PLC grew its stake in Arthur J. Gallagher & Co. by 2.4% during the third quarter. Janus Henderson Group PLC now owns 1,330,703 shares of the financial services provider's stock worth $374,408,000 after buying an additional 31,181 shares during the last quarter. 85.53% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on AJG. Jefferies Financial Group increased their target price on Arthur J. Gallagher & Co. from $269.00 to $274.00 and gave the stock a "hold" rating in a report on Wednesday, October 9th. Keefe, Bruyette & Woods raised Arthur J. Gallagher & Co. from an "underperform" rating to a "market perform" rating and cut their price target for the company from $292.00 to $286.00 in a research note on Friday, January 10th. Wells Fargo & Company lifted their price objective on shares of Arthur J. Gallagher & Co. from $315.00 to $344.00 and gave the stock an "overweight" rating in a research note on Tuesday, December 10th. Bank of America raised their price target on 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. Finally, Piper Sandler upgraded Arthur J. Gallagher & Co. from a "neutral" rating to an "overweight" rating and increased their target price for the stock from $285.00 to $315.00 in a report on Wednesday, January 8th. Two analysts have rated the stock with a sell rating, six have given 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 a consensus target price of $304.07.

Arthur J. Gallagher & Co. Stock Performance

NYSE:AJG traded up $1.06 during mid-day trading on Wednesday, hitting $294.47. The stock had a trading volume of 1,593,758 shares, compared to its average volume of 1,942,737. Arthur J. Gallagher & Co. has a twelve month low of $227.43 and a twelve month high of $316.72. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.06 and a current ratio of 1.06. The stock has a market cap of $73.56 billion, a price-to-earnings ratio of 56.09 and a beta of 0.76. The company's 50 day simple moving average is $291.81 and its 200 day simple moving average is $288.34.

Arthur J. Gallagher & Co. Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 21st. Shareholders of record on Friday, March 7th will be given a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a yield of 0.88%. This is a boost from Arthur J. Gallagher & Co.'s previous quarterly dividend of $0.60. Arthur J. Gallagher & Co.'s payout ratio is 45.71%.

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 business segments: Brokerage, Risk Management, and Corporate. The Brokerage segment consists of retail and wholesale insurance brokerage operations.