Procyon Advisors LLC Increases Stake in Arthur J. Gallagher & Co. (NYSE:AJG)

Procyon Advisors LLC increased its stake in shares of Arthur J. Gallagher & Co. (NYSE:AJG - Free Report) by 38.8% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 3,154 shares of the financial services provider's stock after purchasing an additional 881 shares during the period. Procyon Advisors LLC's holdings in Arthur J. Gallagher & Co. were worth $895,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in AJG. Strategic Investment Solutions Inc. IL purchased a new position in shares of Arthur J. Gallagher & Co. during the 2nd quarter valued at $26,000. Pin Oak Investment Advisors Inc. boosted its stake in Arthur J. Gallagher & Co. by 543.8% during the third quarter. Pin Oak Investment Advisors Inc. now owns 103 shares of the financial services provider's stock valued at $28,000 after buying an additional 87 shares during the period. Quarry LP purchased a new position in Arthur J. Gallagher & Co. during the second quarter worth about $29,000. Rakuten Securities Inc. increased its stake in Arthur J. Gallagher & Co. by 580.0% in the 3rd quarter. Rakuten Securities Inc. now owns 102 shares of the financial services provider's stock worth $29,000 after acquiring an additional 87 shares during the last quarter. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA raised its holdings in shares of Arthur J. Gallagher & Co. by 47.6% in the 3rd quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 152 shares of the financial services provider's stock valued at $44,000 after acquiring an additional 49 shares in the last quarter. Institutional investors own 85.53% of the company's stock.

Insiders Place Their Bets

In related news, VP Christopher E. Mead sold 2,800 shares of the company's stock in a transaction 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 sale, the vice president now directly owns 14,674 shares of the company's stock, valued at $4,211,438. This represents a 16.02 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Douglas K. Howell sold 7,000 shares of the firm's stock in a transaction on Monday, October 28th. The shares were 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 of the company's stock, valued at $21,626,666.10. This represents a 8.44 % decrease in their position. The disclosure for this sale can be found here. 1.60% of the stock is currently owned by company insiders.

Arthur J. Gallagher & Co. Trading Down 0.2 %

AJG traded down $0.57 during midday trading on Friday, reaching $295.22. 1,261,458 shares of the company's stock traded hands, compared to its average volume of 2,133,369. The stock has a market capitalization of $73.75 billion, a price-to-earnings ratio of 56.23 and a beta of 0.76. Arthur J. Gallagher & Co. has a 52 week low of $227.08 and a 52 week high of $316.72. The firm has a fifty day moving average of $291.99 and a two-hundred day moving average of $286.85. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.06 and a quick ratio of 1.06.

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 EPS for the quarter, hitting analysts' consensus estimates of $2.26. The company had revenue of $2.77 billion during the quarter, compared to analyst estimates of $2.78 billion. Arthur J. Gallagher & Co. had a return on equity of 19.12% and a net margin of 10.40%. The firm's revenue was up 12.8% on a year-over-year basis. During the same quarter last year, the firm posted $2.00 earnings per share. On average, equities analysts anticipate that Arthur J. Gallagher & Co. will post 10.06 earnings per share for the current fiscal year.

Arthur J. Gallagher & Co. Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, December 20th. Investors 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 0.81%. The ex-dividend date was Friday, December 6th. Arthur J. Gallagher & Co.'s dividend payout ratio is currently 45.71%.

Analysts Set New Price Targets

AJG has been the topic of several research analyst reports. TD Cowen upgraded shares of Arthur J. Gallagher & Co. from a "hold" rating to a "buy" rating and upped their price objective for the stock from $295.00 to $377.00 in a research report on Friday, January 10th. Keefe, Bruyette & Woods upgraded shares of Arthur J. Gallagher & Co. from an "underperform" rating to a "market perform" rating and lowered their price objective for the company from $292.00 to $286.00 in a research report on Friday, January 10th. The Goldman Sachs Group lowered Arthur J. Gallagher & Co. from a "buy" rating to a "neutral" rating and set a $313.00 price target for the company. in a research note on Monday, November 25th. Piper Sandler upgraded Arthur J. Gallagher & Co. from a "neutral" rating to an "overweight" rating and increased their price objective for the company from $285.00 to $315.00 in a research report on Wednesday, January 8th. Finally, Wells Fargo & Company lifted their price target 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. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, Arthur J. Gallagher & Co. presently has an average rating of "Hold" and an average price target of $304.07.

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.