Pamalican Asset Management Ltd Takes Position in Arthur J. Gallagher & Co. (NYSE:AJG)

Pamalican Asset Management Ltd acquired a new stake in shares of Arthur J. Gallagher & Co. (NYSE:AJG - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 80,000 shares of the financial services provider's stock, valued at approximately $22,708,000. Arthur J. Gallagher & Co. makes up approximately 10.1% of Pamalican Asset Management Ltd's portfolio, making the stock its 2nd largest position.

A number of other hedge funds and other institutional investors have also bought and sold shares of AJG. Catalina Capital Group LLC raised its holdings in shares of Arthur J. Gallagher & Co. by 1.0% during the fourth quarter. Catalina Capital Group LLC now owns 3,380 shares of the financial services provider's stock valued at $959,000 after acquiring an additional 35 shares in the last quarter. Greenleaf Trust increased its position in Arthur J. Gallagher & Co. by 1.1% during the 4th quarter. Greenleaf Trust now owns 3,310 shares of the financial services provider's stock valued at $940,000 after purchasing an additional 36 shares during the period. HBK Sorce Advisory LLC raised its holdings in Arthur J. Gallagher & Co. by 3.2% in the 4th quarter. HBK Sorce Advisory LLC now owns 1,173 shares of the financial services provider's stock worth $333,000 after purchasing an additional 36 shares in the last quarter. Brendel Financial Advisors LLC lifted its position in shares of Arthur J. Gallagher & Co. by 0.5% in the 4th quarter. Brendel Financial Advisors LLC now owns 7,237 shares of the financial services provider's stock worth $2,054,000 after purchasing an additional 38 shares during the period. Finally, Tucker Asset Management LLC boosted its stake in shares of Arthur J. Gallagher & Co. by 3.0% during the 4th quarter. Tucker Asset Management LLC now owns 1,419 shares of the financial services provider's stock valued at $403,000 after purchasing an additional 41 shares in 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 the business'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 transaction of $877,569.00. Following the completion of the sale, the vice president now directly owns 14,674 shares in the company, valued at approximately $4,440,499.14. The trade was a 16.50 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Scott R. Hudson sold 7,510 shares of the stock in a transaction that occurred on Friday, March 21st. The stock was sold at an average price of $333.59, for a total transaction of $2,505,260.90. Following the completion of the transaction, the vice president now owns 90,020 shares in the company, valued at $30,029,771.80. The trade was a 7.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 23,235 shares of company stock valued at $7,478,224. 1.60% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on AJG shares. TD Cowen upgraded Arthur J. Gallagher & Co. from a "hold" rating to a "buy" rating and raised their target price for the company from $295.00 to $377.00 in a research note on Friday, January 10th. Wells Fargo & Company boosted their target price on shares of Arthur J. Gallagher & Co. from $341.00 to $370.00 and gave the company an "overweight" rating in a report on Friday, March 21st. Redburn Atlantic assumed coverage on shares of Arthur J. Gallagher & Co. in a research note on Tuesday, March 25th. They issued a "neutral" rating and a $352.00 price target for the company. Keefe, Bruyette & Woods boosted their price objective on shares of Arthur J. Gallagher & Co. from $308.00 to $314.00 and gave the stock a "market perform" rating in a research note on Friday, March 21st. Finally, Piper Sandler raised shares of Arthur J. Gallagher & Co. from a "neutral" rating to an "overweight" rating and raised their target price for the company from $285.00 to $315.00 in a research note on Wednesday, January 8th. Two equities research 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. Based on data from MarketBeat, Arthur J. Gallagher & Co. presently has an average rating of "Hold" and an average price target of $313.20.

Arthur J. Gallagher & Co. Stock Performance

Shares of NYSE AJG traded down $8.56 during trading on Monday, reaching $310.69. 3,404,119 shares of the company traded hands, compared to its average volume of 1,243,015. The firm has a 50 day simple moving average of $326.40 and a 200-day simple moving average of $302.52. Arthur J. Gallagher & Co. has a 52-week low of $230.08 and a 52-week high of $354.45. The stock has a market capitalization of $79.45 billion, a PE ratio of 47.65 and a beta of 0.64. The company has a quick ratio of 1.51, a current ratio of 1.51 and a debt-to-equity ratio of 0.63.

Arthur J. Gallagher & Co. (NYSE:AJG - Get Free Report) last issued its earnings results on Thursday, January 30th. The financial services provider reported $2.13 earnings per share (EPS) for the quarter, topping 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%. Equities research analysts anticipate that Arthur J. Gallagher & Co. will post 11.54 earnings per share for the current year.

Arthur J. Gallagher & Co. Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 21st. Investors of record on Friday, March 7th were issued a $0.65 dividend. The ex-dividend date of this dividend was Friday, March 7th. This represents a $2.60 annualized dividend and a dividend yield of 0.84%. This is a positive change from Arthur J. Gallagher & Co.'s previous quarterly dividend of $0.60. Arthur J. Gallagher & Co.'s payout ratio is presently 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.