Cinctive Capital Management LP Buys Shares of 86,731 Arthur J. Gallagher & Co. (NYSE:AJG)

Cinctive Capital Management LP purchased a new position in shares of Arthur J. Gallagher & Co. (NYSE:AJG - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 86,731 shares of the financial services provider's stock, valued at approximately $24,619,000. Arthur J. Gallagher & Co. comprises about 1.3% of Cinctive Capital Management LP's holdings, making the stock its 10th largest holding.

Several other institutional investors have also recently made changes to their positions in the company. Valley National Advisers Inc. acquired a new stake in Arthur J. Gallagher & Co. in the 4th quarter valued at approximately $25,000. MRP Capital Investments LLC purchased a new position in shares of Arthur J. Gallagher & Co. during the fourth quarter worth $28,000. New Age Alpha Advisors LLC grew its stake in shares of Arthur J. Gallagher & Co. by 81.7% in the fourth quarter. New Age Alpha Advisors LLC now owns 109 shares of the financial services provider's stock valued at $31,000 after buying an additional 49 shares in the last quarter. E Fund Management Hong Kong Co. Ltd. purchased a new stake in shares of Arthur J. Gallagher & Co. in the 4th quarter valued at $35,000. Finally, Financial Life Planners purchased a new position in Arthur J. Gallagher & Co. during the 4th quarter valued at about $36,000. Hedge funds and other institutional investors own 85.53% of the company's stock.

Arthur J. Gallagher & Co. Stock Performance

AJG traded down $9.91 during trading on Monday, hitting $309.34. 1,693,746 shares of the stock were exchanged, compared to its average volume of 1,684,430. The company has a quick ratio of 1.51, a current ratio of 1.51 and a debt-to-equity ratio of 0.63. Arthur J. Gallagher & Co. has a 1-year low of $230.08 and a 1-year high of $350.70. The stock has a fifty day moving average price of $326.40 and a two-hundred day moving average price of $302.52. The firm has a market capitalization of $79.11 billion, a P/E ratio of 47.44 and a beta of 0.64.

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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 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%. As a group, sell-side analysts predict that Arthur J. Gallagher & Co. will post 11.54 earnings per share for the current year.

Arthur J. Gallagher & Co. Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 21st. Shareholders of record on Friday, March 7th were given a dividend of $0.65 per share. The ex-dividend date was Friday, March 7th. This represents a $2.60 dividend on an annualized basis and a yield of 0.84%. This is an increase from Arthur J. Gallagher & Co.'s previous quarterly dividend of $0.60. Arthur J. Gallagher & Co.'s dividend payout ratio is presently 39.88%.

Analysts Set New Price Targets

A number of brokerages have issued reports on AJG. Truist Financial boosted their price target on shares of 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. TD Cowen upgraded shares of Arthur J. Gallagher & Co. from a "hold" rating to a "buy" rating and increased their target price for the stock from $295.00 to $377.00 in a report on Friday, January 10th. Royal Bank of Canada upped their price objective on Arthur J. Gallagher & Co. from $320.00 to $340.00 and gave the stock an "outperform" rating in a research report on Friday, January 31st. Keefe, Bruyette & Woods lifted their target price on Arthur J. Gallagher & Co. from $308.00 to $314.00 and gave the company a "market perform" rating in a report on Friday, March 21st. Finally, Redburn Atlantic started coverage on Arthur J. Gallagher & Co. in a report on Tuesday, March 25th. They set a "neutral" rating and a $352.00 price target on the stock. Two analysts have rated the stock with a sell rating, seven have given a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $313.20.

Insider Transactions at Arthur J. Gallagher & Co.

In related news, VP Christopher E. Mead sold 2,900 shares of the company's stock in a transaction 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 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 SEC, which is available at this link. Also, VP Scott R. Hudson sold 7,510 shares of the stock in a transaction on Friday, March 21st. The stock was sold at an average price of $333.59, for a total value of $2,505,260.90. Following the completion of the transaction, the vice president now 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 quarter, insiders sold 23,235 shares of company stock worth $7,478,224. Company insiders own 1.60% of the company's stock.

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