Maryland State Retirement & Pension System Purchases 873 Shares of Arthur J. Gallagher & Co. (NYSE:AJG)

Maryland State Retirement & Pension System grew its position in Arthur J. Gallagher & Co. (NYSE:AJG - Free Report) by 7.1% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 13,228 shares of the financial services provider's stock after buying an additional 873 shares during the quarter. Maryland State Retirement & Pension System's holdings in Arthur J. Gallagher & Co. were worth $3,755,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in AJG. Xponance Inc. grew its holdings in shares of Arthur J. Gallagher & Co. by 13.1% during the 4th quarter. Xponance Inc. now owns 35,644 shares of the financial services provider's stock valued at $10,118,000 after purchasing an additional 4,136 shares during the last quarter. South Street Advisors LLC lifted its holdings in shares of Arthur J. Gallagher & Co. by 0.6% during the fourth quarter. South Street Advisors LLC now owns 44,536 shares of the financial services provider's stock worth $12,642,000 after purchasing an additional 265 shares during the period. Axxcess Wealth Management LLC grew its stake in shares of Arthur J. Gallagher & Co. by 29.0% in the fourth quarter. Axxcess Wealth Management LLC now owns 8,820 shares of the financial services provider's stock worth $2,504,000 after purchasing an additional 1,983 shares during the last quarter. William Blair Investment Management LLC acquired a new stake in Arthur J. Gallagher & Co. in the fourth quarter valued at $14,937,000. Finally, Signaturefd LLC raised its position in Arthur J. Gallagher & Co. by 1.7% during the 4th quarter. Signaturefd LLC now owns 3,867 shares of the financial services provider's stock worth $1,098,000 after purchasing an additional 64 shares during the last quarter. Institutional investors own 85.53% of the company's stock.

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Insider Activity at Arthur J. Gallagher & Co.

In other news, Director David S. Johnson sold 325 shares of the company's stock in a transaction that occurred on Wednesday, February 12th. The stock was sold at an average price of $322.06, for a total value of $104,669.50. Following the completion of the transaction, the director now directly owns 44,783 shares of the company's stock, valued at $14,422,812.98. This represents a 0.72 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, VP Christopher E. Mead sold 2,900 shares of Arthur J. Gallagher & Co. stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $302.61, for a total value of $877,569.00. Following the sale, 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 ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 23,235 shares of company stock valued at $7,478,224 over the last 90 days. Insiders own 1.60% of the company's stock.

Analyst Ratings Changes

Several brokerages have recently weighed in on AJG. Keefe, Bruyette & Woods increased 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 note on Friday. Truist Financial increased their target price on shares of Arthur J. Gallagher & Co. from $275.00 to $290.00 and gave the company a "hold" rating in a research report on Friday, January 31st. Piper Sandler upgraded shares of Arthur J. Gallagher & Co. from a "neutral" rating to an "overweight" rating and boosted their price target for the stock from $285.00 to $315.00 in a research report on Wednesday, January 8th. The Goldman Sachs Group cut shares of Arthur J. Gallagher & Co. from a "buy" rating to a "neutral" rating and set a $313.00 price objective for the company. in a research report on Monday, November 25th. Finally, TD Cowen upgraded shares of Arthur J. Gallagher & Co. from a "hold" rating to a "buy" rating and boosted their target price for the company from $295.00 to $377.00 in a report on Friday, January 10th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and six have issued a buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Hold" and an average target price of $310.43.

Arthur J. Gallagher & Co. Stock Up 1.9 %

Arthur J. Gallagher & Co. stock traded up $6.31 during mid-day trading on Monday, reaching $338.10. The stock had a trading volume of 1,226,366 shares, compared to its average volume of 1,147,788. The firm has a market capitalization of $86.11 billion, a PE ratio of 51.86 and a beta of 0.75. Arthur J. Gallagher & Co. has a fifty-two week low of $230.08 and a fifty-two week high of $345.43. The stock's 50-day simple moving average is $316.96 and its 200-day simple moving average is $299.51. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.51 and a current ratio of 1.51.

Arthur J. Gallagher & Co. (NYSE:AJG - Get Free Report) last announced its quarterly earnings results on Thursday, January 30th. The financial services provider reported $2.13 EPS 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, sell-side analysts forecast that Arthur J. Gallagher & Co. will post 11.54 EPS for the current fiscal year.

Arthur J. Gallagher & Co. Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 21st. Stockholders of record on Friday, March 7th were paid a $0.65 dividend. The ex-dividend date was Friday, March 7th. This is an increase from Arthur J. Gallagher & Co.'s previous quarterly dividend of $0.60. This represents a $2.60 annualized dividend and a dividend yield of 0.77%. Arthur J. Gallagher & Co.'s dividend 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.