Harvest Investment Services LLC Boosts Position in Arthur J. Gallagher & Co. (NYSE:AJG)

Harvest Investment Services LLC raised its holdings in Arthur J. Gallagher & Co. (NYSE:AJG - Free Report) by 37.2% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 13,949 shares of the financial services provider's stock after buying an additional 3,783 shares during the quarter. Arthur J. Gallagher & Co. comprises 1.0% of Harvest Investment Services LLC's holdings, making the stock its 22nd largest position. Harvest Investment Services LLC's holdings in Arthur J. Gallagher & Co. were worth $3,959,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Allred Capital Management LLC lifted its position in Arthur J. Gallagher & Co. by 1.0% during the 4th quarter. Allred Capital Management LLC now owns 3,380 shares of the financial services provider's stock worth $960,000 after acquiring an additional 34 shares during the period. Catalina Capital Group LLC raised its stake in shares of Arthur J. Gallagher & Co. by 1.0% in the fourth quarter. Catalina Capital Group LLC now owns 3,380 shares of the financial services provider's stock worth $959,000 after purchasing an additional 35 shares during the last quarter. Greenleaf Trust lifted its holdings in shares of Arthur J. Gallagher & Co. by 1.1% during the fourth quarter. Greenleaf Trust now owns 3,310 shares of the financial services provider's stock worth $940,000 after purchasing an additional 36 shares during the period. HBK Sorce Advisory LLC boosted its position in Arthur J. Gallagher & Co. by 3.2% in the fourth quarter. HBK Sorce Advisory LLC now owns 1,173 shares of the financial services provider's stock valued at $333,000 after buying an additional 36 shares during the last quarter. Finally, Brendel Financial Advisors LLC increased its holdings in Arthur J. Gallagher & Co. by 0.5% in the 4th quarter. Brendel Financial Advisors LLC now owns 7,237 shares of the financial services provider's stock worth $2,054,000 after buying an additional 38 shares during the period. Hedge funds and other institutional investors own 85.53% of the company's stock.

Insider Activity

In other Arthur J. Gallagher & Co. news, VP Scott R. Hudson sold 7,510 shares of the firm's 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 transaction, the vice president now owns 90,020 shares in the company, valued at approximately $30,029,771.80. This trade represents a 7.70 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director David S. Johnson sold 325 shares of the company's stock in a transaction on Wednesday, February 12th. The stock was sold at an average price of $322.06, for a total transaction of $104,669.50. Following the sale, the director now directly owns 44,783 shares of the company's stock, valued at $14,422,812.98. The trade was a 0.72 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 23,235 shares of company stock worth $7,478,224 over the last quarter. 1.60% of the stock is currently owned by corporate insiders.

Arthur J. Gallagher & Co. Price Performance

NYSE AJG traded down $9.15 on Friday, hitting $322.37. The company had a trading volume of 2,164,261 shares, compared to its average volume of 1,272,524. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.51 and a quick ratio of 1.51. The company's fifty day moving average price is $330.74 and its 200-day moving average price is $306.97. The company has a market capitalization of $82.44 billion, a PE ratio of 49.44 and a beta of 0.64. Arthur J. Gallagher & Co. has a 12-month low of $232.27 and a 12-month high of $350.70.

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%. As a group, 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 announced a quarterly dividend, which was paid on Friday, March 21st. Shareholders of record on Friday, March 7th were issued 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 dividend yield of 0.81%. This is a boost from Arthur J. Gallagher & Co.'s previous quarterly dividend of $0.60. Arthur J. Gallagher & Co.'s dividend payout ratio is presently 39.88%.

Analyst Ratings Changes

Several research firms have recently commented on AJG. Redburn Atlantic started coverage on shares of Arthur J. Gallagher & Co. in a report on Tuesday, March 25th. They issued a "neutral" rating and a $352.00 price objective on the stock. 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 report on Thursday, April 10th. Piper Sandler upgraded 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 research note on Wednesday, January 8th. TD Cowen upgraded Arthur J. Gallagher & Co. from a "hold" rating to a "buy" rating and upped their target price for the stock from $295.00 to $377.00 in a research note on Friday, January 10th. Finally, Keefe, Bruyette & Woods lifted their price target on Arthur J. Gallagher & Co. from $308.00 to $314.00 and gave the company a "market perform" rating in a research report on Friday, March 21st. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $315.27.

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.