Envestnet Portfolio Solutions Inc. Sells 1,430 Shares of Arthur J. Gallagher & Co. (NYSE:AJG)

Envestnet Portfolio Solutions Inc. decreased its position in Arthur J. Gallagher & Co. (NYSE:AJG - Free Report) by 1.7% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 81,711 shares of the financial services provider's stock after selling 1,430 shares during the quarter. Envestnet Portfolio Solutions Inc.'s holdings in Arthur J. Gallagher & Co. were worth $23,194,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the company. Valley National Advisers Inc. acquired a new stake in shares of Arthur J. Gallagher & Co. in the fourth quarter valued at $25,000. Pin Oak Investment Advisors Inc. raised its stake in shares of Arthur J. Gallagher & Co. by 543.8% in the third quarter. Pin Oak Investment Advisors Inc. now owns 103 shares of the financial services provider's stock worth $28,000 after acquiring an additional 87 shares during the last quarter. E Fund Management Hong Kong Co. Ltd. acquired a new position in shares of Arthur J. Gallagher & Co. during the fourth quarter worth approximately $35,000. Financial Life Planners acquired a new stake in shares of Arthur J. Gallagher & Co. in the fourth quarter valued at approximately $36,000. Finally, OFI Invest Asset Management acquired a new position in Arthur J. Gallagher & Co. during the 4th quarter worth $42,000. 85.53% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, Director Sherry S. Barrat sold 2,500 shares of the company's stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $304.33, for a total value of $760,825.00. Following the transaction, the director now directly owns 16,533 shares in the company, valued at approximately $5,031,487.89. This represents a 13.14 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Christopher E. Mead sold 2,900 shares of Arthur J. Gallagher & Co. stock in a transaction dated 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 sale, the vice president now owns 14,674 shares of the company's stock, 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. In the last 90 days, insiders sold 15,725 shares of company stock valued at $4,972,964. Company insiders own 1.60% of the company's stock.

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Analysts Set New Price Targets

Several analysts have weighed in on AJG shares. Keefe, Bruyette & Woods boosted their price objective on Arthur J. Gallagher & Co. from $295.00 to $308.00 and gave the stock a "market perform" rating in a report on Wednesday, March 5th. Royal Bank of Canada increased their price objective on shares of Arthur J. Gallagher & Co. from $320.00 to $340.00 and gave the company an "outperform" rating in a report on Friday, January 31st. The Goldman Sachs Group lowered shares of Arthur J. Gallagher & Co. from a "buy" rating to a "neutral" rating and set a $313.00 target price for the company. in a report on Monday, November 25th. Piper Sandler raised Arthur J. Gallagher & Co. from a "neutral" rating to an "overweight" rating and increased their price target for the company from $285.00 to $315.00 in a research note on Wednesday, January 8th. Finally, TD Cowen raised Arthur J. Gallagher & Co. from a "hold" rating to a "buy" rating and increased their target price for the company from $295.00 to $377.00 in a research note on Friday, January 10th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $307.93.

Arthur J. Gallagher & Co. Stock Up 2.5 %

Shares of Arthur J. Gallagher & Co. stock traded up $8.21 on Thursday, reaching $334.85. 1,497,411 shares of the company were exchanged, compared to its average volume of 1,141,242. Arthur J. Gallagher & Co. has a one year low of $230.08 and a one year high of $345.43. The company has a current ratio of 1.51, a quick ratio of 1.51 and a debt-to-equity ratio of 0.63. The company has a 50-day moving average of $315.04 and a 200 day moving average of $298.94. The company has a market capitalization of $85.29 billion, a price-to-earnings ratio of 51.36 and a beta of 0.75.

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 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%. On average, equities 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 business also recently announced a quarterly dividend, which will be paid on Friday, March 21st. Stockholders of record on Friday, March 7th will be paid a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a dividend yield of 0.78%. The ex-dividend date is Friday, March 7th. 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 currently 39.88%.

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.