Mirae Asset Global Investments Co. Ltd. Has $10.26 Million Stock Position in Arthur J. Gallagher & Co. (NYSE:AJG)

Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Arthur J. Gallagher & Co. (NYSE:AJG - Free Report) by 47.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 35,947 shares of the financial services provider's stock after buying an additional 11,587 shares during the period. Mirae Asset Global Investments Co. Ltd.'s holdings in Arthur J. Gallagher & Co. were worth $10,262,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the company. FMR LLC lifted its stake in 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 valued at $3,462,392,000 after purchasing an additional 580,134 shares during the last quarter. State Street Corp raised its holdings in Arthur J. Gallagher & Co. by 0.5% in the 3rd quarter. State Street Corp now owns 8,932,007 shares of the financial services provider's stock valued at $2,513,199,000 after acquiring an additional 47,656 shares during the period. Geode Capital Management LLC raised its holdings in Arthur J. Gallagher & Co. by 1.5% in the 3rd quarter. Geode Capital Management LLC now owns 5,490,728 shares of the financial services provider's stock valued at $1,541,044,000 after acquiring an additional 79,429 shares during the period. Massachusetts Financial Services Co. MA raised its holdings in Arthur J. Gallagher & Co. by 13.6% in the 3rd 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 acquiring an additional 383,130 shares during the period. Finally, Janus Henderson Group PLC raised its holdings in Arthur J. Gallagher & Co. by 2.4% in the 3rd quarter. Janus Henderson Group PLC now owns 1,330,703 shares of the financial services provider's stock valued at $374,408,000 after acquiring an additional 31,181 shares during the period. 85.53% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have weighed in on AJG shares. Royal Bank of Canada increased their price target on shares of Arthur J. Gallagher & Co. from $320.00 to $340.00 and gave the company an "outperform" rating in a report on Friday, January 31st. BMO Capital Markets raised their target price on shares of Arthur J. Gallagher & Co. from $312.00 to $325.00 and gave the stock an "outperform" rating in a report on Tuesday, November 12th. Piper Sandler raised shares of Arthur J. Gallagher & Co. from a "neutral" rating to an "overweight" rating and raised their target price for the stock from $285.00 to $315.00 in a report on Wednesday, January 8th. Keefe, Bruyette & Woods raised their target price on shares of Arthur J. Gallagher & Co. from $286.00 to $295.00 and gave the stock a "market perform" rating in a report on Friday, January 31st. Finally, Barclays raised their target price on shares of Arthur J. Gallagher & Co. from $300.00 to $308.00 and gave the stock an "equal weight" rating in a report on Thursday, November 21st. Two research analysts have rated the stock with a sell rating, six have given a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, Arthur J. Gallagher & Co. has a consensus rating of "Hold" and a consensus price target of $307.00.

Arthur J. Gallagher & Co. Price Performance

AJG traded up $1.97 during trading on Monday, hitting $324.30. 577,610 shares of the stock traded hands, compared to its average volume of 1,866,365. The business has a 50 day moving average price of $292.02 and a 200 day moving average price of $290.49. The company has a market cap of $81.01 billion, a price-to-earnings ratio of 49.70 and a beta of 0.77. Arthur J. Gallagher & Co. has a twelve month low of $230.08 and a twelve month high of $324.08. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.51 and a quick ratio of 1.06.

Arthur J. Gallagher & Co. (NYSE:AJG - Get Free Report) last posted its earnings results on Thursday, January 30th. The financial services provider reported $2.13 earnings per share 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%. Equities research analysts forecast that Arthur J. Gallagher & Co. will post 11.4 earnings per share for the current fiscal year.

Arthur J. Gallagher & Co. Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 21st. Shareholders of record on Friday, March 7th will be paid a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a dividend yield of 0.80%. The ex-dividend date of this dividend is Friday, March 7th. This is a boost from Arthur J. Gallagher & Co.'s previous quarterly dividend of $0.60. Arthur J. Gallagher & Co.'s payout ratio is presently 36.81%.

Insiders Place Their Bets

In related news, VP Christopher E. Mead sold 2,900 shares of the business's 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 sale, the vice president now owns 14,674 shares of the company's stock, valued at $4,440,499.14. The trade was a 16.50 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Sherry S. Barrat sold 2,500 shares of the business's stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $304.33, for a total transaction of $760,825.00. Following the completion of the sale, the director now directly 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 own 1.60% of the company's stock.

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.