Arthur J. Gallagher & Co. (NYSE:AJG) Shares Sold by Legal & General Group Plc

Legal & General Group Plc trimmed its position in Arthur J. Gallagher & Co. (NYSE:AJG - Free Report) by 16.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,287,386 shares of the financial services provider's stock after selling 247,703 shares during the quarter. Legal & General Group Plc owned 0.52% of Arthur J. Gallagher & Co. worth $365,425,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Valley National Advisers Inc. purchased a new position in Arthur J. Gallagher & Co. in the fourth quarter valued at approximately $25,000. MRP Capital Investments LLC purchased a new position in shares of Arthur J. Gallagher & Co. in the 4th quarter valued at $28,000. New Age Alpha Advisors LLC lifted its holdings in shares of Arthur J. Gallagher & Co. by 81.7% during the 4th quarter. New Age Alpha Advisors LLC now owns 109 shares of the financial services provider's stock valued at $31,000 after acquiring an additional 49 shares in the last quarter. E Fund Management Hong Kong Co. Ltd. purchased a new stake in Arthur J. Gallagher & Co. during the 4th quarter worth $35,000. Finally, Financial Life Planners purchased a new stake in shares of Arthur J. Gallagher & Co. in the fourth quarter worth about $36,000. 85.53% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Arthur J. Gallagher & Co. news, VP Scott R. Hudson sold 7,510 shares of the firm's stock in a transaction that occurred 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 sale, 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Christopher E. Mead sold 2,900 shares of the firm's stock in a transaction that occurred 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 completion of the sale, the vice president now owns 14,674 shares in the company, valued at approximately $4,440,499.14. This represents a 16.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 23,235 shares of company stock valued at $7,478,224 over the last quarter. Insiders own 1.60% of the company's stock.

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Arthur J. Gallagher & Co. Stock Performance

Shares of NYSE AJG traded up $8.88 during trading on Friday, reaching $334.60. The stock had a trading volume of 1,179,731 shares, compared to its average volume of 1,258,711. 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 market cap of $85.57 billion, a PE ratio of 51.32 and a beta of 0.64. Arthur J. Gallagher & Co. has a one year low of $230.08 and a one year high of $350.70. The firm's 50 day moving average price is $329.06 and its two-hundred day moving average price is $304.34.

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 earnings per share 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, research analysts forecast that Arthur J. Gallagher & Co. will post 11.54 earnings per share for the current fiscal year.

Arthur J. Gallagher & Co. Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 21st. Investors of record on Friday, March 7th were paid a dividend of $0.65 per share. This is a positive change from Arthur J. Gallagher & Co.'s previous quarterly dividend of $0.60. The ex-dividend date was Friday, March 7th. This represents a $2.60 annualized dividend and a yield of 0.78%. Arthur J. Gallagher & Co.'s dividend payout ratio is 39.88%.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the company. Royal Bank of Canada boosted their price target on 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. Keefe, Bruyette & Woods boosted their target price on shares of Arthur J. Gallagher & Co. from $308.00 to $314.00 and gave the stock a "market perform" rating in a research report on Friday, March 21st. Barclays raised their price target on shares of Arthur J. Gallagher & Co. from $308.00 to $346.00 and gave the company an "equal weight" rating in a report on Friday. Truist Financial boosted their price objective on shares of Arthur J. Gallagher & Co. from $275.00 to $290.00 and gave the stock a "hold" rating in a report on Friday, January 31st. Finally, Wells Fargo & Company lifted their target price on Arthur J. Gallagher & Co. from $370.00 to $372.00 and gave the stock an "overweight" rating in a research report on Thursday. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, Arthur J. Gallagher & Co. currently has an average rating of "Hold" and a consensus target price of $315.27.

Arthur J. Gallagher & Co. 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.