Catalyst Funds Management Pty Ltd increased its stake in shares of Arthur J. Gallagher & Co. (NYSE:AJG - Free Report) by 13,233.3% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 40,000 shares of the financial services provider's stock after acquiring an additional 39,700 shares during the period. Arthur J. Gallagher & Co. accounts for about 2.8% of Catalyst Funds Management Pty Ltd's holdings, making the stock its 6th largest position. Catalyst Funds Management Pty Ltd's holdings in Arthur J. Gallagher & Co. were worth $11,354,000 as of its most recent filing with the SEC.
Other hedge funds have also made changes to their positions in the company. Wealth Enhancement Advisory Services LLC increased its holdings in shares of Arthur J. Gallagher & Co. by 21.2% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 67,146 shares of the financial services provider's stock valued at $18,893,000 after acquiring an additional 11,752 shares during the last quarter. Principal Financial Group Inc. grew its holdings in Arthur J. Gallagher & Co. by 231.2% in the 3rd quarter. Principal Financial Group Inc. now owns 885,796 shares of the financial services provider's stock valued at $249,237,000 after buying an additional 618,362 shares during the last quarter. Running Oak Capital LLC grew its holdings in Arthur J. Gallagher & Co. by 8.9% in the 4th quarter. Running Oak Capital LLC now owns 48,722 shares of the financial services provider's stock valued at $13,830,000 after buying an additional 3,983 shares during the last quarter. MML Investors Services LLC grew its holdings in Arthur J. Gallagher & Co. by 1.2% in the 3rd quarter. MML Investors Services LLC now owns 183,857 shares of the financial services provider's stock valued at $51,732,000 after buying an additional 2,092 shares during the last quarter. Finally, Nordea Investment Management AB grew its holdings in Arthur J. Gallagher & Co. by 16.7% in the 4th quarter. Nordea Investment Management AB now owns 22,436 shares of the financial services provider's stock valued at $6,381,000 after buying an additional 3,217 shares during the last quarter. Institutional investors and hedge funds own 85.53% of the company's stock.
Arthur J. Gallagher & Co. Price Performance
Shares of Arthur J. Gallagher & Co. stock traded down $3.16 during midday trading on Wednesday, hitting $326.50. 974,047 shares of the company were exchanged, compared to its average volume of 1,139,139. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.51 and a quick ratio of 1.51. The firm has a market cap of $83.16 billion, a P/E ratio of 50.08 and a beta of 0.75. Arthur J. Gallagher & Co. has a 52 week low of $230.08 and a 52 week high of $345.43. The firm has a 50 day simple moving average of $314.21 and a 200-day simple moving average of $298.74.
Arthur J. Gallagher & Co. (NYSE:AJG - Get Free Report) last released its quarterly earnings results on Thursday, January 30th. The financial services provider reported $2.13 earnings per share for the quarter, beating 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%. Research analysts forecast 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 will be paid on Friday, March 21st. Investors of record on Friday, March 7th will be issued a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a yield of 0.80%. This is a boost from Arthur J. Gallagher & Co.'s previous quarterly dividend of $0.60. The ex-dividend date is Friday, March 7th. Arthur J. Gallagher & Co.'s dividend payout ratio (DPR) is currently 39.88%.
Wall Street Analyst Weigh In
AJG has been the topic of a number of research analyst reports. Barclays raised their target price on Arthur J. Gallagher & Co. from $300.00 to $308.00 and gave the company an "equal weight" rating in a report on Thursday, November 21st. TD Cowen raised Arthur J. Gallagher & Co. from a "hold" rating to a "buy" rating and raised their target price for the company from $295.00 to $377.00 in a report on Friday, January 10th. Truist Financial raised their price objective on Arthur J. Gallagher & Co. from $275.00 to $290.00 and gave the stock a "hold" rating in a research report on Friday, January 31st. Keefe, Bruyette & Woods raised their price objective on Arthur J. Gallagher & Co. from $295.00 to $308.00 and gave the stock a "market perform" rating in a research report on Wednesday, March 5th. Finally, Piper Sandler upgraded Arthur J. Gallagher & Co. from a "neutral" rating to an "overweight" rating and raised their price objective for the stock from $285.00 to $315.00 in a research report on Wednesday, January 8th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $307.93.
Check Out Our Latest Research Report on AJG
Insider Activity at Arthur J. Gallagher & Co.
In other news, Director Sherry S. Barrat sold 2,500 shares of Arthur J. Gallagher & Co. stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $304.33, for a total value of $760,825.00. Following the completion of the sale, the director now directly owns 16,533 shares of the company's stock, valued at approximately $5,031,487.89. This trade represents a 13.14 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Christopher E. Mead sold 2,900 shares of Arthur J. Gallagher & Co. stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $302.61, for a total value of $877,569.00. Following the completion of the sale, the vice president now directly owns 14,674 shares of the company's stock, valued at $4,440,499.14. This trade represents a 16.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 15,725 shares of company stock valued at $4,972,964 in the last three months. Corporate insiders own 1.60% of the company's stock.
Arthur J. Gallagher & Co. Profile
(
Free Report)
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.
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