CIBC Asset Management Inc Acquires 5,198 Shares of Arthur J. Gallagher & Co. (NYSE:AJG)

CIBC Asset Management Inc boosted its stake in Arthur J. Gallagher & Co. (NYSE:AJG - Free Report) by 12.1% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 48,314 shares of the financial services provider's stock after purchasing an additional 5,198 shares during the quarter. CIBC Asset Management Inc's holdings in Arthur J. Gallagher & Co. were worth $13,714,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of AJG. Creative Planning raised its stake in shares of Arthur J. Gallagher & Co. by 4.4% during the third quarter. Creative Planning now owns 59,653 shares of the financial services provider's stock valued at $16,785,000 after purchasing an additional 2,537 shares in the last quarter. Stratos Wealth Advisors LLC lifted its holdings in shares of Arthur J. Gallagher & Co. by 5.5% during the 3rd quarter. Stratos Wealth Advisors LLC now owns 1,288 shares of the financial services provider's stock valued at $363,000 after buying an additional 67 shares during the last quarter. Blue Trust Inc. increased its stake in shares of Arthur J. Gallagher & Co. by 84.9% during the 3rd quarter. Blue Trust Inc. now owns 2,045 shares of the financial services provider's stock worth $530,000 after purchasing an additional 939 shares during the last quarter. Allspring Global Investments Holdings LLC increased its holdings in shares of Arthur J. Gallagher & Co. by 0.5% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 10,216 shares of the financial services provider's stock valued at $2,874,000 after acquiring an additional 48 shares during the last quarter. Finally, Sequoia Financial Advisors LLC grew its holdings in Arthur J. Gallagher & Co. by 37.7% during the third quarter. Sequoia Financial Advisors LLC now owns 65,338 shares of the financial services provider's stock valued at $18,384,000 after purchasing an additional 17,894 shares during the last quarter. Hedge funds and other institutional investors own 85.53% of the company's stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on AJG. BMO Capital Markets raised their price objective on shares of Arthur J. Gallagher & Co. from $312.00 to $325.00 and gave the stock an "outperform" rating in a research note on Tuesday, November 12th. Piper Sandler raised Arthur J. Gallagher & Co. from a "neutral" rating to an "overweight" rating and lifted their price objective for the company from $285.00 to $315.00 in a report on Wednesday, January 8th. Royal Bank of Canada boosted their target price on shares of Arthur J. Gallagher & Co. from $320.00 to $340.00 and gave the company an "outperform" rating in a research note on Friday, January 31st. Barclays boosted their target price on shares of Arthur J. Gallagher & Co. from $300.00 to $308.00 and gave the company an "equal weight" rating in a research note on Thursday, November 21st. Finally, Truist Financial boosted their price target on shares of 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. Two analysts have rated the stock with a sell rating, six have issued a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $307.00.

Insiders Place Their Bets

In other news, Director David S. Johnson sold 325 shares of Arthur J. Gallagher & Co. stock in a transaction dated Wednesday, February 12th. The stock was sold at an average price of $322.06, for a total transaction of $104,669.50. Following the transaction, the director now owns 44,783 shares in the company, valued at $14,422,812.98. The trade was a 0.72 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Christopher E. Mead sold 2,900 shares of Arthur J. Gallagher & Co. stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $302.61, for a total value of $877,569.00. Following the transaction, the vice president now owns 14,674 shares in the company, valued at $4,440,499.14. This trade represents a 16.50 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 15,725 shares of company stock worth $4,972,964. Insiders own 1.60% of the company's stock.

Arthur J. Gallagher & Co. Trading Up 0.0 %

Shares of NYSE AJG traded up $0.15 during mid-day trading on Friday, hitting $325.28. The company's stock had a trading volume of 952,441 shares, compared to its average volume of 1,745,089. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.51 and a quick ratio of 1.06. The stock has a market cap of $82.85 billion, a price-to-earnings ratio of 49.89 and a beta of 0.77. The company's fifty day simple moving average is $297.14 and its 200-day simple moving average is $293.00. Arthur J. Gallagher & Co. has a one year low of $230.08 and a one year high of $329.60.

Arthur J. Gallagher & Co. (NYSE:AJG - Get Free Report) last released 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 net margin of 12.70% and a return on equity of 16.47%. On average, sell-side analysts anticipate 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 will be paid on Friday, March 21st. Shareholders of record on Friday, March 7th will be issued a dividend of $0.65 per share. The ex-dividend date of this dividend is Friday, March 7th. 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. Arthur J. Gallagher & Co.'s dividend payout ratio (DPR) is 36.81%.

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 business segments: Brokerage, Risk Management, and Corporate. The Brokerage segment consists of retail and wholesale insurance brokerage operations.