Y Intercept Hong Kong Ltd Has $351,000 Holdings in Arthur J. Gallagher & Co. (NYSE:AJG)

Y Intercept Hong Kong Ltd lowered its stake in Arthur J. Gallagher & Co. (NYSE:AJG - Free Report) by 96.4% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,236 shares of the financial services provider's stock after selling 33,349 shares during the quarter. Y Intercept Hong Kong Ltd's holdings in Arthur J. Gallagher & Co. were worth $351,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Angeles Wealth Management LLC acquired a new position in Arthur J. Gallagher & Co. in the third quarter valued at about $238,000. Old North State Wealth Management LLC bought a new stake in shares of Arthur J. Gallagher & Co. in the 3rd quarter valued at about $287,000. Vestor Capital LLC boosted its stake in Arthur J. Gallagher & Co. by 2.9% during the 3rd quarter. Vestor Capital LLC now owns 1,417 shares of the financial services provider's stock worth $399,000 after acquiring an additional 40 shares during the last quarter. Asset Management One Co. Ltd. grew its holdings in Arthur J. Gallagher & Co. by 1.2% during the third quarter. Asset Management One Co. Ltd. now owns 84,676 shares of the financial services provider's stock valued at $23,825,000 after purchasing an additional 998 shares during the period. Finally, QRG Capital Management Inc. increased its stake in Arthur J. Gallagher & Co. by 16.4% in the third quarter. QRG Capital Management Inc. now owns 10,243 shares of the financial services provider's stock valued at $2,882,000 after purchasing an additional 1,443 shares in the last quarter. 85.53% of the stock is currently owned by institutional investors.

Arthur J. Gallagher & Co. Stock Up 1.1 %

Arthur J. Gallagher & Co. stock traded up $3.73 during mid-day trading on Wednesday, reaching $341.00. The company's stock had a trading volume of 1,216,799 shares, compared to its average volume of 1,104,340. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.51 and a current ratio of 1.51. Arthur J. Gallagher & Co. has a 12 month low of $230.08 and a 12 month high of $345.43. The business's 50 day simple moving average is $306.11 and its 200 day simple moving average is $296.31. The company has a market capitalization of $86.85 billion, a price-to-earnings ratio of 52.30 and a beta of 0.77.

Arthur J. Gallagher & Co. (NYSE:AJG - Get Free Report) last announced its quarterly earnings data on Thursday, January 30th. The financial services provider reported $2.13 earnings per share for the quarter, beating the consensus estimate 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, 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 business also recently disclosed a quarterly dividend, which will be paid on Friday, March 21st. Stockholders of record on Friday, March 7th will be paid a dividend of $0.65 per share. The ex-dividend date is Friday, March 7th. This represents a $2.60 dividend on an annualized basis and a dividend yield of 0.76%. This is a boost from Arthur J. Gallagher & Co.'s previous quarterly dividend of $0.60. Arthur J. Gallagher & Co.'s dividend payout ratio is currently 39.88%.

Insider Activity

In related news, CAO Richard C. Cary sold 10,000 shares of the firm'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 in the company, valued at approximately $22,536,304.26. This trade represents a 12.54 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Christopher E. Mead sold 2,900 shares of the business's stock in a transaction that occurred 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 transaction, the vice president now directly owns 14,674 shares in the company, valued at approximately $4,440,499.14. This trade represents a 16.50 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 15,725 shares of company stock valued at $4,972,964. 1.60% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the stock. The Goldman Sachs Group cut shares of Arthur J. Gallagher & Co. from a "buy" rating to a "neutral" rating and set a $313.00 price target on the stock. in a research report on Monday, November 25th. Truist Financial lifted their target price on Arthur J. Gallagher & Co. from $275.00 to $290.00 and gave the stock a "hold" rating in a report on Friday, January 31st. Wells Fargo & Company lowered their price target on Arthur J. Gallagher & Co. from $344.00 to $341.00 and set an "overweight" rating for the company in a report on Friday, January 31st. Piper Sandler upgraded Arthur J. Gallagher & Co. from a "neutral" rating to an "overweight" rating and lifted their price objective for the company from $285.00 to $315.00 in a report on Wednesday, January 8th. Finally, TD Cowen raised Arthur J. Gallagher & Co. from a "hold" rating to a "buy" rating and increased their target price for the stock from $295.00 to $377.00 in a research note on Friday, January 10th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and six have issued a buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $307.93.

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