Potomac Fund Management Inc. ADV Takes $1.34 Million Position in Arthur J. Gallagher & Co. (NYSE:AJG)

Potomac Fund Management Inc. ADV purchased a new position in Arthur J. Gallagher & Co. (NYSE:AJG - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 4,720 shares of the financial services provider's stock, valued at approximately $1,340,000. Arthur J. Gallagher & Co. accounts for 1.2% of Potomac Fund Management Inc. ADV's portfolio, making the stock its 20th biggest holding.

Other hedge funds also recently made changes to their positions in the company. Catalina Capital Group LLC increased its holdings in Arthur J. Gallagher & Co. by 1.0% in the fourth quarter. Catalina Capital Group LLC now owns 3,380 shares of the financial services provider's stock valued at $959,000 after buying an additional 35 shares during the last quarter. Greenleaf Trust increased its holdings in shares of Arthur J. Gallagher & Co. by 1.1% in the 4th quarter. Greenleaf Trust now owns 3,310 shares of the financial services provider's stock valued at $940,000 after acquiring an additional 36 shares during the last quarter. HBK Sorce Advisory LLC raised its position in shares of Arthur J. Gallagher & Co. by 3.2% during the 4th quarter. HBK Sorce Advisory LLC now owns 1,173 shares of the financial services provider's stock valued at $333,000 after acquiring an additional 36 shares in the last quarter. Brendel Financial Advisors LLC lifted its stake in Arthur J. Gallagher & Co. by 0.5% during the fourth 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 last quarter. Finally, Tucker Asset Management LLC boosted its holdings in Arthur J. Gallagher & Co. by 3.0% in the fourth quarter. Tucker Asset Management LLC now owns 1,419 shares of the financial services provider's stock worth $403,000 after purchasing an additional 41 shares during the period. Hedge funds and other institutional investors own 85.53% of the company's stock.

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Arthur J. Gallagher & Co. Price Performance

Shares of NYSE:AJG traded down $25.43 during trading on Friday, reaching $318.97. The company had a trading volume of 2,901,895 shares, compared to its average volume of 1,234,376. Arthur J. Gallagher & Co. has a twelve month low of $230.08 and a twelve month high of $350.70. 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 firm has a market capitalization of $81.57 billion, a PE ratio of 48.92 and a beta of 0.64. The firm's fifty day moving average is $326.40 and its 200 day moving average is $302.45.

Arthur J. Gallagher & Co. (NYSE:AJG - Get Free Report) last issued its quarterly earnings results on Thursday, January 30th. The financial services provider reported $2.13 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.03 by $0.10. Arthur J. Gallagher & Co. had a return on equity of 16.47% and a net margin of 12.70%. On average, equities analysts forecast that Arthur J. Gallagher & Co. will post 11.54 EPS for the current year.

Arthur J. Gallagher & Co. Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 21st. Investors of record on Friday, March 7th were issued a dividend of $0.65 per share. This is a positive change from Arthur J. Gallagher & Co.'s previous quarterly dividend of $0.60. This represents a $2.60 dividend on an annualized basis and a yield of 0.82%. The ex-dividend date was Friday, March 7th. Arthur J. Gallagher & Co.'s payout ratio is presently 39.88%.

Insider Buying and Selling at Arthur J. Gallagher & Co.

In other news, VP Christopher E. Mead sold 2,900 shares of the 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 completion of the sale, the vice president now owns 14,674 shares in the company, valued at $4,440,499.14. This represents a 16.50 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Scott R. Hudson sold 7,510 shares of the company's stock in a transaction dated 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 completion of the transaction, the vice president now owns 90,020 shares in the company, valued at $30,029,771.80. This represents a 7.70 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 23,235 shares of company stock valued at $7,478,224. 1.60% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the stock. Royal Bank of Canada lifted 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. Wells Fargo & Company upped their target price on Arthur J. Gallagher & Co. from $341.00 to $370.00 and gave the company an "overweight" rating in a report on Friday, March 21st. Piper Sandler raised Arthur J. Gallagher & Co. from a "neutral" rating to an "overweight" rating and raised their price target for the stock from $285.00 to $315.00 in a report on Wednesday, January 8th. Keefe, Bruyette & Woods upped their price objective on 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, Redburn Atlantic started coverage on Arthur J. Gallagher & Co. in a research note on Tuesday, March 25th. They issued a "neutral" rating and a $352.00 target price on the stock. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and six have given a buy rating to the company's stock. According to data from MarketBeat.com, Arthur J. Gallagher & Co. currently has an average rating of "Hold" and an average target price of $313.20.

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 segments: Brokerage, Risk Management, and Corporate. The Brokerage segment consists of retail and wholesale insurance brokerage operations.