Resona Asset Management Co. Ltd. Makes New Investment in Arthur J. Gallagher & Co. (NYSE:AJG)

Resona Asset Management Co. Ltd. acquired a new stake in Arthur J. Gallagher & Co. (NYSE:AJG - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 95,646 shares of the financial services provider's stock, valued at approximately $27,178,000.

A number of other institutional investors have also added to or reduced their stakes in AJG. Centiva Capital LP bought a new position in shares of Arthur J. Gallagher & Co. during the 3rd quarter worth approximately $582,000. HighTower Advisors LLC increased its holdings in shares of Arthur J. Gallagher & Co. by 1.4% in the third quarter. HighTower Advisors LLC now owns 56,672 shares of the financial services provider's stock valued at $15,980,000 after purchasing an additional 789 shares during the last quarter. IHT Wealth Management LLC bought a new position in shares of Arthur J. Gallagher & Co. in the third quarter valued at about $272,000. Quarry LP boosted its holdings in shares of Arthur J. Gallagher & Co. by 475.5% during the 3rd quarter. Quarry LP now owns 633 shares of the financial services provider's stock worth $178,000 after buying an additional 523 shares during the period. Finally, Quantinno Capital Management LP raised its holdings in Arthur J. Gallagher & Co. by 25.8% in the 3rd quarter. Quantinno Capital Management LP now owns 9,990 shares of the financial services provider's stock valued at $2,811,000 after acquiring an additional 2,048 shares during the period. 85.53% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. Redburn Atlantic assumed coverage on Arthur J. Gallagher & Co. in a report on Tuesday, March 25th. They set a "neutral" rating and a $352.00 price target for the company. Keefe, Bruyette & Woods boosted their target price on shares of Arthur J. Gallagher & Co. from $308.00 to $314.00 and gave the company a "market perform" rating in a research report on Friday, March 21st. Truist Financial increased their price target on Arthur J. Gallagher & Co. from $275.00 to $290.00 and gave the stock a "hold" rating in a research report on Friday, January 31st. Piper Sandler raised Arthur J. Gallagher & Co. from a "neutral" rating to an "overweight" rating and increased their target price for the stock from $285.00 to $315.00 in a report on Wednesday, January 8th. Finally, Royal Bank of Canada boosted their price target on Arthur J. Gallagher & Co. from $320.00 to $340.00 and gave the company an "outperform" rating in a research note on Friday, January 31st. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $313.33.

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Insider Activity

In other news, Director Sherry S. Barrat sold 2,500 shares of the stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $304.33, for a total transaction of $760,825.00. Following the transaction, the director now owns 16,533 shares of the company's stock, valued at $5,031,487.89. This represents a 13.14 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO Richard C. Cary sold 10,000 shares of the business's stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $322.99, for a total value of $3,229,900.00. Following the completion of the sale, the chief accounting officer now directly owns 69,774 shares of the company's stock, valued at $22,536,304.26. The trade was a 12.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 23,235 shares of company stock valued at $7,478,224 in the last ninety days. 1.60% of the stock is owned by company insiders.

Arthur J. Gallagher & Co. Trading Up 1.4 %

Shares of Arthur J. Gallagher & Co. stock traded up $4.71 during trading on Friday, hitting $330.43. The company's stock had a trading volume of 303,122 shares, compared to its average volume of 1,252,408. The stock has a market cap of $84.50 billion, a price-to-earnings ratio of 50.69 and a beta of 0.64. Arthur J. Gallagher & Co. has a 52 week low of $230.08 and a 52 week high of $350.70. The stock has a 50-day moving average price of $328.63 and a two-hundred day moving average price of $303.78. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.51 and a quick ratio of 1.51.

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 (EPS) for the quarter, topping 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%. 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 disclosed a quarterly dividend, which was paid on Friday, March 21st. Stockholders of record on Friday, March 7th were given a $0.65 dividend. The ex-dividend date was Friday, March 7th. This is a positive change from Arthur J. Gallagher & Co.'s previous quarterly dividend of $0.60. This represents a $2.60 annualized dividend and a dividend yield of 0.79%. Arthur J. Gallagher & Co.'s dividend payout ratio (DPR) is 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.