Axxcess Wealth Management LLC Boosts Stock Position in Arthur J. Gallagher & Co. (NYSE:AJG)

Axxcess Wealth Management LLC lifted its stake in Arthur J. Gallagher & Co. (NYSE:AJG - Free Report) by 29.0% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 8,820 shares of the financial services provider's stock after acquiring an additional 1,983 shares during the period. Axxcess Wealth Management LLC's holdings in Arthur J. Gallagher & Co. were worth $2,504,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the stock. FMR LLC raised its position in shares of Arthur J. Gallagher & Co. by 4.9% in the 3rd quarter. FMR LLC now owns 12,305,478 shares of the financial services provider's stock worth $3,462,392,000 after acquiring an additional 580,134 shares in the last quarter. State Street Corp raised its position 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 acquiring an additional 47,656 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Arthur J. Gallagher & Co. by 1.5% in 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 acquiring an additional 79,429 shares in the last quarter. Massachusetts Financial Services Co. MA raised its position in shares of Arthur J. Gallagher & Co. by 13.6% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 3,196,992 shares of the financial services provider's stock worth $899,538,000 after acquiring an additional 383,130 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in shares of Arthur J. Gallagher & Co. by 10.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,029,256 shares of the financial services provider's stock worth $576,004,000 after acquiring an additional 184,960 shares in the last quarter. 85.53% of the stock is owned by institutional investors.

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Insider Buying and Selling

In other Arthur J. Gallagher & Co. news, VP Christopher E. Mead sold 2,900 shares of the stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $302.61, for a total transaction of $877,569.00. Following the completion of the transaction, the vice president now owns 14,674 shares of the company's stock, valued at $4,440,499.14. This represents a 16.50 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Scott R. Hudson sold 7,510 shares of the stock in a transaction that occurred 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 of the company's stock, valued at $30,029,771.80. The trade was a 7.70 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 23,235 shares of company stock valued at $7,478,224. 1.60% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several research analysts recently weighed in on AJG shares. The Goldman Sachs Group downgraded Arthur J. Gallagher & Co. from a "buy" rating to a "neutral" rating and set a $313.00 target price on the stock. in a research note on Monday, November 25th. Royal Bank of Canada boosted their target price on Arthur J. Gallagher & Co. from $320.00 to $340.00 and gave the stock an "outperform" rating in a research note on Friday, January 31st. Truist Financial boosted their target price on Arthur J. Gallagher & Co. from $275.00 to $290.00 and gave the stock a "hold" rating in a research note on Friday, January 31st. Piper Sandler upgraded Arthur J. Gallagher & Co. from a "neutral" rating to an "overweight" rating and boosted their target price for the stock from $285.00 to $315.00 in a research note on Wednesday, January 8th. Finally, Wells Fargo & Company boosted their target price on Arthur J. Gallagher & Co. from $341.00 to $370.00 and gave the stock an "overweight" rating in a research note on Friday. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and six have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $310.43.

Arthur J. Gallagher & Co. Stock Performance

Shares of AJG traded down $2.42 during mid-day trading on Friday, reaching $332.02. The company had a trading volume of 2,675,702 shares, compared to its average volume of 1,147,052. Arthur J. Gallagher & Co. has a 52-week low of $230.08 and a 52-week high of $345.43. The company has a quick ratio of 1.51, a current ratio of 1.51 and a debt-to-equity ratio of 0.63. The stock has a market capitalization of $84.57 billion, a P/E ratio of 50.92 and a beta of 0.75. The stock has a 50 day moving average of $316.96 and a two-hundred day moving average of $299.46.

Arthur J. Gallagher & Co. (NYSE:AJG - Get Free Report) last issued its earnings results on Thursday, January 30th. The financial services provider reported $2.13 EPS for the quarter, topping analysts' consensus estimates 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%. On average, analysts expect that Arthur J. Gallagher & Co. will post 11.54 earnings per share for the current year.

Arthur J. Gallagher & Co. Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 21st. Investors of record on Friday, March 7th were issued a $0.65 dividend. This is a boost from Arthur J. Gallagher & Co.'s previous quarterly dividend of $0.60. The ex-dividend date was Friday, March 7th. This represents a $2.60 dividend on an annualized basis and a yield of 0.78%. Arthur J. Gallagher & Co.'s dividend payout ratio is presently 39.88%.

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.