Intech Investment Management LLC Sells 25,546 Shares of Arthur J. Gallagher & Co. (NYSE:AJG)

Intech Investment Management LLC decreased its position in Arthur J. Gallagher & Co. (NYSE:AJG - Free Report) by 42.6% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 34,352 shares of the financial services provider's stock after selling 25,546 shares during the quarter. Intech Investment Management LLC's holdings in Arthur J. Gallagher & Co. were worth $9,751,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of AJG. Principal Financial Group Inc. lifted its position in Arthur J. Gallagher & Co. by 126.2% in 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 buying an additional 1,117,441 shares during the last quarter. FMR LLC lifted 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 purchasing an additional 580,134 shares during the last quarter. Raymond James Financial Inc. bought a new stake in Arthur J. Gallagher & Co. in the fourth quarter valued at approximately $163,087,000. Burkehill Global Management LP bought a new stake in Arthur J. Gallagher & Co. in the fourth quarter valued at approximately $156,118,000. Finally, Assenagon Asset Management S.A. lifted its position in Arthur J. Gallagher & Co. by 6,581.9% in the fourth quarter. Assenagon Asset Management S.A. now owns 437,464 shares of the financial services provider's stock valued at $124,174,000 after purchasing an additional 430,917 shares during the last quarter. Institutional investors own 85.53% of the company's stock.

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Analyst Ratings Changes

Several brokerages have weighed in on AJG. Royal Bank of Canada boosted their price objective on Arthur J. Gallagher & Co. from $320.00 to $340.00 and gave the company an "outperform" rating in a research report on Friday, January 31st. Truist Financial boosted their price objective 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. Piper Sandler raised 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 note on Wednesday, January 8th. Keefe, Bruyette & Woods boosted their target price on Arthur J. Gallagher & Co. from $308.00 to $314.00 and gave the company a "market perform" rating in a research note on Friday. Finally, Wells Fargo & Company boosted their target price on Arthur J. Gallagher & Co. from $341.00 to $370.00 and gave the company an "overweight" rating in a research note on Friday. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $310.43.

Arthur J. Gallagher & Co. Stock Down 0.7 %

AJG stock traded down $2.42 during midday trading on Friday, hitting $332.02. The stock had a trading volume of 2,675,702 shares, compared to its average volume of 1,147,052. The firm has a market cap of $84.57 billion, a price-to-earnings ratio of 50.92 and a beta of 0.75. The business has a 50-day moving average of $316.96 and a two-hundred day moving average of $299.46. Arthur J. Gallagher & Co. has a 52-week low of $230.08 and a 52-week high of $345.43. 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 issued its quarterly earnings results on Thursday, January 30th. The financial services provider reported $2.13 earnings per share for the quarter, topping the consensus estimate of $2.03 by $0.10. Arthur J. Gallagher & Co. had a return on equity of 16.47% and a net margin of 12.70%. As a group, equities research analysts forecast 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 announced a quarterly dividend, which was paid on Friday, March 21st. Stockholders of record on Friday, March 7th were paid a $0.65 dividend. This is a boost from Arthur J. Gallagher & Co.'s previous quarterly dividend of $0.60. This represents a $2.60 dividend on an annualized basis and a dividend yield of 0.78%. The ex-dividend date of this dividend was Friday, March 7th. Arthur J. Gallagher & Co.'s dividend payout ratio is currently 39.88%.

Insider Transactions at Arthur J. Gallagher & Co.

In other news, CAO Richard C. Cary sold 10,000 shares of the company's stock in a transaction on Monday, February 10th. The stock was sold at an average price of $322.99, for a total transaction of $3,229,900.00. Following the transaction, the chief accounting officer now directly owns 69,774 shares of the company's stock, valued at $22,536,304.26. This represents a 12.54 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Scott R. Hudson sold 7,510 shares of the company's stock in a transaction on Friday, March 21st. The shares were sold at an average price of $333.59, for a total value of $2,505,260.90. Following the transaction, the vice president now directly owns 90,020 shares in the company, valued at approximately $30,029,771.80. The trade was a 7.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 23,235 shares of company stock valued at $7,478,224. Insiders own 1.60% of the company's stock.

About Arthur J. Gallagher & Co.

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.