Teacher Retirement System of Texas Has $15.44 Million Stock Holdings in Arthur J. Gallagher & Co. (NYSE:AJG)

Teacher Retirement System of Texas increased its stake in shares of Arthur J. Gallagher & Co. (NYSE:AJG - Free Report) by 546.9% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 54,389 shares of the financial services provider's stock after purchasing an additional 45,981 shares during the period. Teacher Retirement System of Texas' holdings in Arthur J. Gallagher & Co. were worth $15,438,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Principal Financial Group Inc. lifted its stake in shares of Arthur J. Gallagher & Co. by 126.2% during the 4th quarter. Principal Financial Group Inc. now owns 2,003,237 shares of the financial services provider's stock worth $568,619,000 after purchasing an additional 1,117,441 shares during the period. FMR LLC raised its stake in Arthur J. Gallagher & Co. by 4.9% during the third quarter. FMR LLC now owns 12,305,478 shares of the financial services provider's stock worth $3,462,392,000 after purchasing an additional 580,134 shares during the period. Raymond James Financial Inc. acquired a new position in shares of Arthur J. Gallagher & Co. in the 4th quarter valued at $163,087,000. Burkehill Global Management LP purchased a new stake in shares of Arthur J. Gallagher & Co. during the 4th quarter valued at $156,118,000. Finally, Assenagon Asset Management S.A. raised its position in shares of 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 worth $124,174,000 after buying an additional 430,917 shares during the period. 85.53% of the stock is owned by institutional investors and hedge funds.

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Arthur J. Gallagher & Co. Price Performance

Shares of Arthur J. Gallagher & Co. stock traded down $0.80 during trading on Wednesday, hitting $336.56. The stock had a trading volume of 1,351,202 shares, compared to its average volume of 1,150,451. The business has a fifty day moving average of $318.98 and a two-hundred day moving average of $300.11. Arthur J. Gallagher & Co. has a fifty-two week low of $230.08 and a fifty-two week high of $345.43. The firm has a market cap of $85.72 billion, a P/E ratio of 51.62 and a beta of 0.75. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.51 and a quick ratio of 1.51.

Arthur J. Gallagher & Co. (NYSE:AJG - Get Free Report) last posted its quarterly earnings data 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 net margin of 12.70% and a return on equity of 16.47%. On average, sell-side analysts expect that Arthur J. Gallagher & Co. will post 11.54 earnings per share for the current fiscal year.

Arthur J. Gallagher & Co. Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 21st. Stockholders of record on Friday, March 7th were given a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a dividend yield of 0.77%. The ex-dividend date was Friday, March 7th. This is an increase from Arthur J. Gallagher & Co.'s previous quarterly dividend of $0.60. Arthur J. Gallagher & Co.'s dividend payout ratio is 39.88%.

Insider Transactions at Arthur J. Gallagher & Co.

In related news, CAO Richard C. Cary sold 10,000 shares of the firm's stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $322.99, for a total transaction of $3,229,900.00. Following the completion of the sale, the chief accounting officer now directly owns 69,774 shares in the company, valued at approximately $22,536,304.26. This trade represents a 12.54 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director David S. Johnson sold 325 shares of the company's stock in a transaction that occurred on Wednesday, February 12th. The shares were sold at an average price of $322.06, for a total transaction of $104,669.50. Following the completion of the transaction, the director now owns 44,783 shares in the company, valued at approximately $14,422,812.98. This represents a 0.72 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 23,235 shares of company stock valued at $7,478,224 in the last three months. 1.60% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

AJG has been the topic of a number of recent research reports. TD Cowen upgraded Arthur J. Gallagher & Co. from a "hold" rating to a "buy" rating and boosted their price objective for the stock from $295.00 to $377.00 in a research note on Friday, January 10th. 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. Piper Sandler raised shares of Arthur J. Gallagher & Co. from a "neutral" rating to an "overweight" rating and boosted their price target for the company from $285.00 to $315.00 in a report on Wednesday, January 8th. Wells Fargo & Company increased their price objective on shares of Arthur J. Gallagher & Co. from $341.00 to $370.00 and gave the stock an "overweight" rating in a report on Friday, March 21st. Finally, Keefe, Bruyette & Woods upped their target price on shares of Arthur J. Gallagher & Co. from $308.00 to $314.00 and gave the stock a "market perform" rating in a research report on Friday, March 21st. Two analysts have rated the stock with a sell rating, seven have given a hold rating and six have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $313.20.

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.