Chevy Chase Trust Holdings LLC Raises Holdings in Arthur J. Gallagher & Co. (NYSE:AJG)

Chevy Chase Trust Holdings LLC boosted its holdings in shares of Arthur J. Gallagher & Co. (NYSE:AJG - Free Report) by 11.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 131,129 shares of the financial services provider's stock after acquiring an additional 13,601 shares during the quarter. Chevy Chase Trust Holdings LLC owned 0.05% of Arthur J. Gallagher & Co. worth $37,221,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Valley National Advisers Inc. acquired a new stake in Arthur J. Gallagher & Co. in the fourth quarter valued at $25,000. Pin Oak Investment Advisors Inc. increased its stake in shares of Arthur J. Gallagher & Co. by 543.8% in 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. Rakuten Securities Inc. raised its position in shares of Arthur J. Gallagher & Co. by 580.0% during the third 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. E Fund Management Hong Kong Co. Ltd. acquired a new position in shares of Arthur J. Gallagher & Co. in the fourth quarter worth approximately $35,000. Finally, Financial Life Planners acquired a new stake in Arthur J. Gallagher & Co. during the 4th quarter valued at approximately $36,000. 85.53% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, VP Christopher E. Mead sold 2,900 shares of the firm's stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $302.61, for a total transaction of $877,569.00. Following the completion of the sale, the vice president now owns 14,674 shares in the company, valued at approximately $4,440,499.14. This trade represents a 16.50 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CAO Richard C. Cary sold 10,000 shares of the business's stock in a transaction dated 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 transaction, the chief accounting officer now owns 69,774 shares in the company, valued at approximately $22,536,304.26. The trade was a 12.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 15,725 shares of company stock valued at $4,972,964 in the last 90 days. 1.60% of the stock is currently owned by corporate insiders.

Arthur J. Gallagher & Co. Stock Up 1.4 %

Shares of AJG stock traded up $4.35 during trading hours on Tuesday, reaching $325.85. The company had a trading volume of 1,310,082 shares, compared to its average volume of 1,814,904. The company has a market cap of $81.40 billion, a price-to-earnings ratio of 49.98 and a beta of 0.77. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.51 and a quick ratio of 1.06. Arthur J. Gallagher & Co. has a 12 month low of $230.08 and a 12 month high of $329.60. The business has a fifty day simple moving average of $294.54 and a 200-day simple moving average of $292.26.

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 (EPS) for the quarter, topping analysts' consensus estimates 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, research analysts expect that Arthur J. Gallagher & Co. will post 11.4 earnings per share for the current fiscal year.

Arthur J. Gallagher & Co. Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 21st. Shareholders of record on Friday, March 7th will be paid a $0.65 dividend. This is a positive change from Arthur J. Gallagher & Co.'s previous quarterly dividend of $0.60. The ex-dividend date of this dividend is Friday, March 7th. This represents a $2.60 annualized dividend and a yield of 0.80%. Arthur J. Gallagher & Co.'s dividend payout ratio (DPR) is 36.81%.

Analysts Set New Price Targets

AJG has been the topic of a number of analyst reports. TD Cowen raised shares of Arthur J. Gallagher & Co. from a "hold" rating to a "buy" rating and upped their price objective for the company from $295.00 to $377.00 in a research note on Friday, January 10th. Truist Financial upped their target price on Arthur J. Gallagher & Co. from $275.00 to $290.00 and gave the company a "hold" rating in a research report on Friday, January 31st. Wells Fargo & Company dropped their price target on Arthur J. Gallagher & Co. from $344.00 to $341.00 and set an "overweight" rating on the stock in a research note on Friday, January 31st. Piper Sandler upgraded shares of Arthur J. Gallagher & Co. from a "neutral" rating to an "overweight" rating and boosted their target price for the company from $285.00 to $315.00 in a research report on Wednesday, January 8th. Finally, Keefe, Bruyette & Woods lifted their price target on shares of Arthur J. Gallagher & Co. from $286.00 to $295.00 and gave the company a "market perform" rating in a research note on Friday, January 31st. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and six have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $307.00.

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.