Pacer Advisors Inc. lowered its stake in Arthur J. Gallagher & Co. (NYSE:AJG - Free Report) by 21.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 23,315 shares of the financial services provider's stock after selling 6,408 shares during the period. Pacer Advisors Inc.'s holdings in Arthur J. Gallagher & Co. were worth $6,618,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Northwestern Mutual Wealth Management Co. raised its holdings in Arthur J. Gallagher & Co. by 7.5% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 8,421 shares of the financial services provider's stock worth $2,183,000 after purchasing an additional 586 shares in the last quarter. Quarry LP bought a new position in Arthur J. Gallagher & Co. in the second quarter worth $29,000. Regal Investment Advisors LLC boosted its holdings in shares of Arthur J. Gallagher & Co. by 11.3% during the 2nd quarter. Regal Investment Advisors LLC now owns 1,405 shares of the financial services provider's stock valued at $364,000 after buying an additional 143 shares in the last quarter. EP Wealth Advisors LLC increased its stake in shares of Arthur J. Gallagher & Co. by 21.3% in the 2nd quarter. EP Wealth Advisors LLC now owns 1,122 shares of the financial services provider's stock worth $291,000 after acquiring an additional 197 shares in the last quarter. Finally, Advisory Alpha LLC bought a new stake in Arthur J. Gallagher & Co. during the second quarter worth about $223,000. Institutional investors own 85.53% of the company's stock.
Arthur J. Gallagher & Co. Price Performance
Shares of NYSE AJG traded up $4.96 during midday trading on Thursday, reaching $299.06. 1,580,493 shares of the stock traded hands, compared to its average volume of 1,923,586. The company's 50 day moving average is $291.78 and its 200 day moving average is $288.38. Arthur J. Gallagher & Co. has a one year low of $227.43 and a one 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. The stock has a market capitalization of $74.70 billion, a PE ratio of 56.96 and a beta of 0.76.
Arthur J. Gallagher & Co. (NYSE:AJG - Get Free Report) last issued its quarterly earnings data on Thursday, January 30th. The financial services provider reported $2.13 earnings per share for the quarter, topping the consensus estimate of $2.03 by $0.10. Arthur J. Gallagher & Co. had a return on equity of 19.12% and a net margin of 10.40%. On average, equities research analysts anticipate that Arthur J. Gallagher & Co. will post 10.05 earnings per share for the current year.
Arthur J. Gallagher & Co. Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Friday, March 21st. Stockholders of record on Friday, March 7th will be issued a $0.65 dividend. This represents a $2.60 annualized dividend and a dividend yield of 0.87%. The ex-dividend date is Friday, March 7th. This is a positive change from Arthur J. Gallagher & Co.'s previous quarterly dividend of $0.60. Arthur J. Gallagher & Co.'s dividend payout ratio (DPR) is 45.71%.
Wall Street Analyst Weigh In
A number of brokerages have recently commented on AJG. Piper Sandler raised 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. Bank of America upped their price target on shares of Arthur J. Gallagher & Co. from $271.00 to $293.00 and gave the stock an "underperform" rating in a research note on Thursday, October 10th. Wells Fargo & Company boosted their price target on Arthur J. Gallagher & Co. from $315.00 to $344.00 and gave the stock an "overweight" rating in a research note on Tuesday, December 10th. TD Cowen raised Arthur J. Gallagher & Co. from a "hold" rating to a "buy" rating and increased their price objective for the company from $295.00 to $377.00 in a research report on Friday, January 10th. Finally, Barclays upped their target price on shares of Arthur J. Gallagher & Co. from $300.00 to $308.00 and gave the company an "equal weight" rating in a research note on Thursday, November 21st. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $304.07.
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Arthur J. Gallagher & Co. Profile
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Free Report)
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.
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