Ilmarinen Mutual Pension Insurance Co Acquires 29,900 Shares of Arthur J. Gallagher & Co. (NYSE:AJG)

Ilmarinen Mutual Pension Insurance Co increased its holdings in Arthur J. Gallagher & Co. (NYSE:AJG - Free Report) by 64.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 76,100 shares of the financial services provider's stock after acquiring an additional 29,900 shares during the period. Ilmarinen Mutual Pension Insurance Co's holdings in Arthur J. Gallagher & Co. were worth $21,601,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the business. Russell Investments Group Ltd. boosted its holdings in Arthur J. Gallagher & Co. by 87.0% during the 4th quarter. Russell Investments Group Ltd. now owns 179,676 shares of the financial services provider's stock worth $51,011,000 after acquiring an additional 83,591 shares during the last quarter. Envestnet Asset Management Inc. lifted its position in shares of Arthur J. Gallagher & Co. by 4.0% during the 4th quarter. Envestnet Asset Management Inc. now owns 1,478,054 shares of the financial services provider's stock worth $419,546,000 after buying an additional 56,804 shares in the last quarter. Aviva PLC boosted its stake in shares of Arthur J. Gallagher & Co. by 10.5% in the 4th quarter. Aviva PLC now owns 391,216 shares of the financial services provider's stock worth $111,047,000 after buying an additional 37,196 shares during the last quarter. Resona Asset Management Co. Ltd. bought a new position in shares of Arthur J. Gallagher & Co. in the fourth quarter valued at approximately $27,178,000. Finally, Wells Fargo & Company MN increased its position in shares of Arthur J. Gallagher & Co. by 8.2% during the fourth quarter. Wells Fargo & Company MN now owns 395,137 shares of the financial services provider's stock valued at $112,160,000 after acquiring an additional 29,820 shares during the last quarter. Institutional investors own 85.53% of the company's stock.

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Insider Buying and Selling at Arthur J. Gallagher & Co.

In related news, VP Christopher E. Mead sold 2,900 shares of Arthur J. Gallagher & Co. stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $302.61, for a total value of $877,569.00. Following the transaction, the vice president now owns 14,674 shares in the company, valued at $4,440,499.14. This trade represents a 16.50 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Sherry S. Barrat sold 2,500 shares of Arthur J. Gallagher & Co. stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $304.33, for a total value of $760,825.00. Following the completion of the transaction, the director now owns 16,533 shares in the company, valued at approximately $5,031,487.89. This represents a 13.14 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 23,235 shares of company stock worth $7,478,224 over the last 90 days. Corporate insiders own 1.60% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on AJG. Truist Financial upped their price objective on Arthur J. Gallagher & Co. from $275.00 to $290.00 and gave the company a "hold" rating in a research note on Friday, January 31st. Wells Fargo & Company raised their price objective on shares of Arthur J. Gallagher & Co. from $370.00 to $372.00 and gave the stock an "overweight" rating in a report on Thursday. Keefe, Bruyette & Woods boosted their target price on shares of Arthur J. Gallagher & Co. from $308.00 to $314.00 and gave the company a "market perform" rating in a research note on Friday, March 21st. TD Cowen raised shares of Arthur J. Gallagher & Co. from a "hold" rating to a "buy" rating and lifted their price target for the stock from $295.00 to $377.00 in a report on Friday, January 10th. Finally, Piper Sandler raised Arthur J. Gallagher & Co. from a "neutral" rating to an "overweight" rating and increased their price objective for the company from $285.00 to $315.00 in a report on Wednesday, January 8th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and six have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $313.33.

Arthur J. Gallagher & Co. Price Performance

Arthur J. Gallagher & Co. stock traded up $5.71 during midday trading on Thursday, hitting $329.53. 750,800 shares of the company's stock were exchanged, compared to its average volume of 1,252,264. The company has a market cap of $84.27 billion, a P/E ratio of 50.53 and a beta of 0.64. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.51 and a current ratio of 1.51. The stock has a 50-day moving average price of $328.30 and a two-hundred day moving average price of $303.46. Arthur J. Gallagher & Co. has a 52-week low of $230.08 and a 52-week high of $350.70.

Arthur J. Gallagher & Co. (NYSE:AJG - Get Free Report) last announced its earnings results on Thursday, January 30th. The financial services provider reported $2.13 earnings per share for the quarter, beating 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%. 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 was paid on Friday, March 21st. Investors of record on Friday, March 7th were given a $0.65 dividend. The ex-dividend date was Friday, March 7th. This is a positive change from Arthur J. Gallagher & Co.'s previous quarterly dividend of $0.60. This represents a $2.60 annualized dividend and a yield of 0.79%. Arthur J. Gallagher & Co.'s payout ratio is 39.88%.

About Arthur J. Gallagher & Co.

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.