E. Ohman J or Asset Management AB Increases Stock Position in Arthur J. Gallagher & Co. (NYSE:AJG)

E. Ohman J or Asset Management AB grew its position in shares of Arthur J. Gallagher & Co. (NYSE:AJG - Free Report) by 33.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,610 shares of the financial services provider's stock after purchasing an additional 2,910 shares during the period. E. Ohman J or Asset Management AB's holdings in Arthur J. Gallagher & Co. were worth $3,295,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in AJG. Robbins Farley grew its stake in shares of Arthur J. Gallagher & Co. by 14.5% in the 4th quarter. Robbins Farley now owns 13,821 shares of the financial services provider's stock worth $3,923,000 after buying an additional 1,747 shares in the last quarter. Longboard Asset Management LP purchased a new position in Arthur J. Gallagher & Co. in the fourth quarter worth about $262,000. Baltimore Washington Financial Advisors Inc. increased its stake in Arthur J. Gallagher & Co. by 13.7% during the fourth quarter. Baltimore Washington Financial Advisors Inc. now owns 51,745 shares of the financial services provider's stock worth $14,688,000 after acquiring an additional 6,248 shares during the last quarter. Financial Life Planners purchased a new stake in Arthur J. Gallagher & Co. during the fourth quarter valued at approximately $36,000. Finally, Catalina Capital Group LLC lifted its stake in shares of Arthur J. Gallagher & Co. by 1.0% in the 4th quarter. Catalina Capital Group LLC now owns 3,380 shares of the financial services provider's stock valued at $959,000 after purchasing an additional 35 shares during the last quarter. 85.53% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

AJG has been the subject of several recent analyst reports. TD Cowen raised shares of Arthur J. Gallagher & Co. from a "hold" rating to a "buy" rating and lifted their price objective for the stock from $295.00 to $377.00 in a research note on Friday, January 10th. Truist Financial upped 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 report on Friday, January 31st. Bank of America raised their price objective on shares of Arthur J. Gallagher & Co. from $271.00 to $293.00 and gave the stock an "underperform" rating in a research note on Thursday, October 10th. Piper Sandler raised Arthur J. Gallagher & Co. from a "neutral" rating to an "overweight" rating and raised their price target for the stock from $285.00 to $315.00 in a research note on Wednesday, January 8th. Finally, Jefferies Financial Group increased their target price on Arthur J. Gallagher & Co. from $269.00 to $274.00 and gave the stock a "hold" rating in a research note on Wednesday, October 9th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $307.00.

Arthur J. Gallagher & Co. Stock Up 1.2 %

Shares of Arthur J. Gallagher & Co. stock opened at $312.70 on Wednesday. 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 $78.11 billion, a price-to-earnings ratio of 47.96 and a beta of 0.77. The firm's 50-day moving average is $291.71 and its two-hundred day moving average is $289.21. Arthur J. Gallagher & Co. has a 1 year low of $230.08 and a 1 year high of $316.72.

Arthur J. Gallagher & Co. (NYSE:AJG - Get Free Report) last issued its quarterly earnings data on Thursday, January 30th. The financial services provider reported $2.13 earnings per share (EPS) for the quarter, beating the consensus estimate 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%. As a group, research analysts expect that Arthur J. Gallagher & Co. will post 11.53 earnings per share for the current fiscal year.

Arthur J. Gallagher & Co. Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 21st. Investors of record on Friday, March 7th will be given 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 0.83%. This is an increase from Arthur J. Gallagher & Co.'s previous quarterly dividend of $0.60. Arthur J. Gallagher & Co.'s dividend payout ratio (DPR) is presently 36.81%.

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

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