Arthur J. Gallagher & Co. (NYSE:AJG) Shares Purchased by HB Wealth Management LLC

HB Wealth Management LLC increased its holdings in shares of Arthur J. Gallagher & Co. (NYSE:AJG - Free Report) by 105.8% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 6,786 shares of the financial services provider's stock after acquiring an additional 3,489 shares during the period. HB Wealth Management LLC's holdings in Arthur J. Gallagher & Co. were worth $1,926,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the business. The Manufacturers Life Insurance Company increased its position in shares of Arthur J. Gallagher & Co. by 219.6% during the second quarter. The Manufacturers Life Insurance Company now owns 1,043,769 shares of the financial services provider's stock worth $270,660,000 after acquiring an additional 717,221 shares during the period. Principal Financial Group Inc. raised its position in Arthur J. Gallagher & Co. by 231.2% during the 3rd quarter. Principal Financial Group Inc. now owns 885,796 shares of the financial services provider's stock valued at $249,237,000 after purchasing an additional 618,362 shares in the last quarter. FMR LLC lifted its holdings in shares of Arthur J. Gallagher & Co. by 4.9% in the 3rd quarter. FMR LLC now owns 12,305,478 shares of the financial services provider's stock worth $3,462,392,000 after buying an additional 580,134 shares during the period. Assenagon Asset Management S.A. grew its position in shares of Arthur J. Gallagher & Co. by 6,581.9% during the 4th quarter. Assenagon Asset Management S.A. now owns 437,464 shares of the financial services provider's stock worth $124,174,000 after buying an additional 430,917 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA increased its stake in shares of Arthur J. Gallagher & Co. by 13.6% during the third quarter. Massachusetts Financial Services Co. MA now owns 3,196,992 shares of the financial services provider's stock valued at $899,538,000 after buying an additional 383,130 shares during the period. Institutional investors own 85.53% of the company's stock.

Arthur J. Gallagher & Co. Stock Performance

NYSE:AJG traded down $0.57 during mid-day trading on Monday, hitting $295.22. The company's stock had a trading volume of 1,261,458 shares, compared to its average volume of 2,133,369. The business's fifty day moving average is $291.99 and its two-hundred day moving average is $287.02. The stock has a market cap of $73.75 billion, a price-to-earnings ratio of 56.23 and a beta of 0.76. Arthur J. Gallagher & Co. has a 1 year low of $227.08 and a 1 year high of $316.72. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.06 and a quick ratio of 1.06.

Arthur J. Gallagher & Co. (NYSE:AJG - Get Free Report) last announced its quarterly earnings results on Thursday, October 24th. The financial services provider reported $2.26 earnings per share for the quarter, meeting the consensus estimate of $2.26. The company had revenue of $2.77 billion during the quarter, compared to analysts' expectations of $2.78 billion. Arthur J. Gallagher & Co. had a return on equity of 19.12% and a net margin of 10.40%. Arthur J. Gallagher & Co.'s quarterly revenue was up 12.8% on a year-over-year basis. During the same period last year, the business earned $2.00 earnings per share. Analysts anticipate that Arthur J. Gallagher & Co. will post 10.06 EPS for the current fiscal year.

Arthur J. Gallagher & Co. Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 20th. Shareholders of record on Friday, December 6th were issued a $0.60 dividend. The ex-dividend date of this dividend was Friday, December 6th. This represents a $2.40 dividend on an annualized basis and a yield of 0.81%. Arthur J. Gallagher & Co.'s payout ratio is 45.71%.

Insiders Place Their Bets

In other news, CFO Douglas K. Howell sold 7,000 shares of the stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $284.70, for a total transaction of $1,992,900.00. Following the transaction, the chief financial officer now owns 75,963 shares in the company, valued at $21,626,666.10. This trade represents a 8.44 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Christopher E. Mead sold 2,800 shares of the business's stock in a transaction on Monday, October 28th. The stock was sold at an average price of $287.00, for a total transaction of $803,600.00. Following the completion of the sale, the vice president now directly owns 14,674 shares of the company's stock, valued at approximately $4,211,438. The trade was a 16.02 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.60% of the company's stock.

Analysts Set New Price Targets

Several research analysts have issued reports on the stock. The Goldman Sachs Group cut shares of Arthur J. Gallagher & Co. from a "buy" rating to a "neutral" rating and set a $313.00 target price on the stock. in a report on Monday, November 25th. Wells Fargo & Company lifted their price objective on shares of Arthur J. Gallagher & Co. from $315.00 to $344.00 and gave the company an "overweight" rating in a report on Tuesday, December 10th. BMO Capital Markets lifted their price target on Arthur J. Gallagher & Co. from $312.00 to $325.00 and gave the company an "outperform" rating in a report on Tuesday, November 12th. Barclays upped their price objective on Arthur J. Gallagher & Co. from $300.00 to $308.00 and gave the stock an "equal weight" rating in a research note on Thursday, November 21st. Finally, Piper Sandler raised Arthur J. Gallagher & Co. from a "neutral" rating to an "overweight" rating and upped their price target for the stock from $285.00 to $315.00 in a research report on Wednesday, January 8th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $304.07.

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.