ExodusPoint Capital Management LP acquired a new position in shares of Arthur J. Gallagher & Co. (NYSE:AJG - Free Report) in the 4th quarter, according to its most recent disclosure with the SEC. The fund acquired 17,968 shares of the financial services provider's stock, valued at approximately $5,100,000.
A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Norges Bank purchased a new stake in shares of Arthur J. Gallagher & Co. during the 4th quarter worth approximately $1,421,591,000. Vanguard Group Inc. raised its stake in Arthur J. Gallagher & Co. by 14.9% during the 4th quarter. Vanguard Group Inc. now owns 29,672,134 shares of the financial services provider's stock worth $8,422,435,000 after acquiring an additional 3,851,661 shares in the last quarter. Wellington Management Group LLP lifted its position in Arthur J. Gallagher & Co. by 162.0% in the fourth quarter. Wellington Management Group LLP now owns 2,822,319 shares of the financial services provider's stock valued at $801,115,000 after acquiring an additional 1,745,283 shares during the last quarter. Principal Financial Group Inc. boosted its stake in Arthur J. Gallagher & Co. by 126.2% in the fourth quarter. Principal Financial Group Inc. now owns 2,003,237 shares of the financial services provider's stock valued at $568,619,000 after acquiring an additional 1,117,441 shares in the last quarter. Finally, Geode Capital Management LLC grew its holdings in shares of Arthur J. Gallagher & Co. by 14.3% during the fourth quarter. Geode Capital Management LLC now owns 6,277,993 shares of the financial services provider's stock worth $1,779,248,000 after purchasing an additional 787,265 shares during the last quarter. Institutional investors and hedge funds own 85.53% of the company's stock.
Arthur J. Gallagher & Co. Stock Performance
NYSE AJG traded up $8.88 on Friday, hitting $334.60. 1,179,731 shares of the company's stock were exchanged, compared to its average volume of 1,257,268. The firm has a market cap of $85.57 billion, a price-to-earnings ratio of 51.32 and a beta of 0.64. The firm's 50-day moving average price is $329.06 and its two-hundred day moving average price is $304.16. Arthur J. Gallagher & Co. has a fifty-two week low of $230.08 and a fifty-two week high of $350.70. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.51 and a quick ratio of 1.51.
Arthur J. Gallagher & Co. (NYSE:AJG - Get Free Report) last announced 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%. On average, research analysts expect that Arthur J. Gallagher & Co. will post 11.54 EPS for the current year.
Arthur J. Gallagher & Co. Increases Dividend
The business also recently disclosed a quarterly dividend, which was paid on Friday, March 21st. Investors of record on Friday, March 7th were paid a $0.65 dividend. This is a boost from Arthur J. Gallagher & Co.'s previous quarterly dividend of $0.60. The ex-dividend date of this dividend was Friday, March 7th. This represents a $2.60 annualized dividend and a dividend yield of 0.78%. Arthur J. Gallagher & Co.'s dividend payout ratio (DPR) is 39.88%.
Wall Street Analyst Weigh In
AJG has been the subject of a number of research analyst reports. TD Cowen raised Arthur J. Gallagher & Co. from a "hold" rating to a "buy" rating and upped their target price for the company from $295.00 to $377.00 in a research report on Friday, January 10th. Truist Financial raised their target price on shares of 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. Wells Fargo & Company upped their price target on shares of Arthur J. Gallagher & Co. from $370.00 to $372.00 and gave the company an "overweight" rating in a research report on Thursday. Royal Bank of Canada raised their price objective on shares of 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. Finally, Jefferies Financial Group reduced their target price on shares of Arthur J. Gallagher & Co. from $266.00 to $265.00 and set a "hold" rating for the company in a report on Friday. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, Arthur J. Gallagher & Co. has a consensus rating of "Hold" and a consensus price target of $315.27.
Check Out Our Latest Report on Arthur J. Gallagher & Co.
Insider Buying and Selling
In related news, CAO Richard C. Cary sold 10,000 shares of Arthur J. Gallagher & Co. stock in a transaction on Monday, February 10th. The stock was sold at an average price of $322.99, for a total transaction of $3,229,900.00. Following the completion of the transaction, the chief accounting officer now directly owns 69,774 shares of the company's stock, valued at approximately $22,536,304.26. The trade was a 12.54 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, VP Scott R. Hudson sold 7,510 shares of the company's stock in a transaction on Friday, March 21st. The shares were sold at an average price of $333.59, for a total value of $2,505,260.90. Following the completion of the sale, the vice president now directly owns 90,020 shares in the company, valued at $30,029,771.80. This trade represents a 7.70 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 23,235 shares of company stock valued at $7,478,224. 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 segments: Brokerage, Risk Management, and Corporate. The Brokerage segment consists of retail and wholesale insurance brokerage operations.
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