Prudential PLC Sells 3,974 Shares of Arthur J. Gallagher & Co. (NYSE:AJG)

Prudential PLC lessened its stake in shares of Arthur J. Gallagher & Co. (NYSE:AJG - Free Report) by 47.2% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 4,451 shares of the financial services provider's stock after selling 3,974 shares during the period. Prudential PLC's holdings in Arthur J. Gallagher & Co. were worth $1,263,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of AJG. Norges Bank acquired a new stake in Arthur J. Gallagher & Co. in the fourth quarter valued at approximately $1,421,591,000. Vanguard Group Inc. grew its position in Arthur J. Gallagher & Co. by 14.9% in the 4th quarter. Vanguard Group Inc. now owns 29,672,134 shares of the financial services provider's stock valued at $8,422,435,000 after purchasing an additional 3,851,661 shares during the period. Wellington Management Group LLP increased its stake in Arthur J. Gallagher & Co. by 162.0% during the 4th quarter. Wellington Management Group LLP now owns 2,822,319 shares of the financial services provider's stock valued at $801,115,000 after purchasing an additional 1,745,283 shares in the last quarter. Principal Financial Group Inc. raised its holdings in Arthur J. Gallagher & Co. by 126.2% during the fourth quarter. Principal Financial Group Inc. now owns 2,003,237 shares of the financial services provider's stock worth $568,619,000 after buying an additional 1,117,441 shares during the last quarter. Finally, Geode Capital Management LLC lifted its stake in shares of Arthur J. Gallagher & Co. by 14.3% in the fourth quarter. Geode Capital Management LLC now owns 6,277,993 shares of the financial services provider's stock valued at $1,779,248,000 after buying an additional 787,265 shares in the last quarter. 85.53% of the stock is owned by institutional investors.

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Arthur J. Gallagher & Co. Stock Performance

Shares of NYSE:AJG traded up $8.88 during mid-day trading on Friday, reaching $334.60. The company had a trading volume of 1,179,731 shares, compared to its average volume of 1,258,711. Arthur J. Gallagher & Co. has a one year low of $230.08 and a one year high of $350.70. The company has a current ratio of 1.51, a quick ratio of 1.51 and a debt-to-equity ratio of 0.63. The company's 50-day moving average price is $329.06 and its 200-day moving average price is $304.34. The firm has a market cap of $85.57 billion, a price-to-earnings ratio of 51.32 and a beta of 0.64.

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 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%. As a group, equities research analysts anticipate that Arthur J. Gallagher & Co. will post 11.54 EPS for the current fiscal year.

Arthur J. Gallagher & Co. Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 21st. Stockholders of record on Friday, March 7th were paid a $0.65 dividend. This is an increase from Arthur J. Gallagher & Co.'s previous quarterly dividend of $0.60. The ex-dividend date was Friday, March 7th. This represents a $2.60 annualized dividend and a dividend yield of 0.78%. Arthur J. Gallagher & Co.'s dividend payout ratio (DPR) is presently 39.88%.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on AJG. Jefferies Financial Group lowered their target price on shares of Arthur J. Gallagher & Co. from $266.00 to $265.00 and set a "hold" rating on the stock in a report on Friday. Wells Fargo & Company increased their price objective on Arthur J. Gallagher & Co. from $370.00 to $372.00 and gave the stock an "overweight" rating in a research note on Thursday. Redburn Atlantic began coverage on Arthur J. Gallagher & Co. in a research report on Tuesday, March 25th. They set a "neutral" rating and a $352.00 target price on the stock. Truist Financial raised their price objective on Arthur J. Gallagher & Co. from $275.00 to $290.00 and gave the company a "hold" rating in a research note on Friday, January 31st. Finally, Keefe, Bruyette & Woods upped their target price 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. 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 stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $315.27.

Insider Activity

In other Arthur J. Gallagher & Co. news, VP Christopher E. Mead sold 2,900 shares of the firm's stock in a transaction dated 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 transaction, 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Sherry S. Barrat sold 2,500 shares of the company's stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $304.33, for a total value of $760,825.00. Following the sale, the director now owns 16,533 shares in the company, valued at approximately $5,031,487.89. This represents a 13.14 % 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 quarter. Company 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 segments: Brokerage, Risk Management, and Corporate. The Brokerage segment consists of retail and wholesale insurance brokerage operations.