1 week Ago By ABMN Staff
Arrowstreet Capital Limited Partnership acquired a new position in Arthur J. Gallagher & Co. ( NYSE:AJG – Free Report ) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission.
The fund acquired 21,746 shares of the financial services provider’s stock, valued at approximately $6,173,000. Other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc.
increased its stake 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 worth $8,422,435,000 after purchasing an additional 3,851,661 shares during the period.
Geode Capital Management LLC increased its stake in shares of Arthur J. Gallagher & Co. by 1.
5% in the third quarter. Geode Capital Management LLC now owns 5,490,728 shares of the financial services provider’s stock worth $1,541,044,000 after buying an additional 79,429 shares during the period. Norges Bank bought a new stake in Arthur J.
Gallagher & Co. during the 4th quarter valued at $1,421,591,000. Charles Schwab Investment Management Inc.
boosted its position in Arthur J. Gallagher & Co. by 10.
0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,029,256 shares of the financial services provider’s stock valued at $576,004,000 after buying an additional 184,960 shares during the period.
Finally, Principal Financial Group Inc. grew its holdings in Arthur J. Gallagher & Co.
by 126.2% in the 4th quarter. Principal Financial Group Inc.
now owns 2,003,237 shares of the financial services provider’s stock worth $568,619,000 after acquiring an additional 1,117,441 shares during the last quarter. Hedge funds and other institutional investors own 85.53% of the company’s stock.
Wall Street Analyst Weigh In A number of analysts have recently weighed in on the stock. Redburn Atlantic assumed coverage on shares of Arthur J. Gallagher & Co.
in a report on Tuesday, March 25th. They set a “neutral” rating and a $352.00 target price for the company.
Royal Bank of Canada lifted their price objective on Arthur J. Gallagher & Co. from $320.
00 to $340.00 and gave the stock an “outperform” rating in a research report on Friday, January 31st. Truist Financial upped their target price on Arthur J.
Gallagher & Co. from $275.00 to $290.
00 and gave the company a “hold” rating in a report on Friday, January 31st. Wells Fargo & Company lifted their price target 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.
Finally, Keefe, Bruyette & Woods upped 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 report on Friday, March 21st. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have issued a buy rating to the stock.
According to MarketBeat.com, Arthur J. Gallagher & Co.
currently has an average rating of “Hold” and a consensus price target of $313.20. Arthur J.
Gallagher & Co. Stock Performance Shares of AJG opened at $310.69 on Tuesday.
The company has a quick ratio of 1.51, a current ratio of 1.51 and a debt-to-equity ratio of 0.
63. The stock has a market cap of $79.45 billion, a P/E ratio of 47.
65 and a beta of 0.64. The business’s 50 day moving average price is $326.
69 and its 200-day moving average price is $302.73. Arthur J.
Gallagher & Co. has a 52 week low of $230.08 and a 52 week high of $350.
70. Arthur J. Gallagher & Co.
( NYSE:AJG – Get Free Report ) last released its earnings results on Thursday, January 30th. The financial services provider reported $2.13 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 earnings per share for the current fiscal year. Arthur J.
Gallagher & Co. Increases Dividend The company 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 represents a $2.60 annualized dividend and a dividend yield of 0.
84%. The ex-dividend date of this dividend was Friday, March 7th. This is an increase 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 other news, VP Scott R. Hudson sold 7,510 shares of the firm’s stock in a transaction on Friday, March 21st.
The stock was sold at an average price of $333.59, for a total value of $2,505,260.90.
Following the transaction, the vice president now directly owns 90,020 shares in the company, valued at $30,029,771.80. This trade represents a 7.
70 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link . Also, Director Sherry S.
Barrat sold 2,500 shares of the firm’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $304.33, for a total value of $760,825.
00. Following the completion of the transaction, the director now directly owns 16,533 shares in the company, valued at $5,031,487.89.
The trade was 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 worth $7,478,224 over the last 90 days. 1.60% of the stock is currently owned by insiders.
Arthur J. Gallagher & Co. Company Profile ( Free Report ) 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.
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