Tokio Marine Asset Management Co. Ltd. grew its stake in Arthur J. Gallagher & Co. (NYSE:AJG – Free Report) by 10.7% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,301 shares of the financial services provider’s stock after purchasing an additional 514 shares during the period. Tokio Marine Asset Management Co. Ltd.’s holdings in Arthur J. Gallagher & Co. were worth $1,192,000 at the end of the most recent quarter.
Other hedge funds have also bought and sold shares of the company. Beaird Harris Wealth Management LLC boosted its position in Arthur J. Gallagher & Co. by 175.6% in the 3rd quarter. Beaird Harris Wealth Management LLC now owns 113 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 72 shares in the last quarter. Annis Gardner Whiting Capital Advisors LLC purchased a new position in shares of Arthur J. Gallagher & Co. during the 3rd quarter valued at approximately $28,000. SJS Investment Consulting Inc. lifted its position in shares of Arthur J. Gallagher & Co. by 460.9% during the 4th quarter. SJS Investment Consulting Inc. now owns 129 shares of the financial services provider’s stock valued at $29,000 after buying an additional 106 shares in the last quarter. Ruedi Wealth Management Inc. purchased a new position in shares of Arthur J. Gallagher & Co. during the 4th quarter valued at approximately $33,000. Finally, Milestone Investment Advisors LLC purchased a new position in shares of Arthur J. Gallagher & Co. during the 3rd quarter valued at approximately $45,000. Hedge funds and other institutional investors own 85.53% of the company’s stock.
Arthur J. Gallagher & Co. Price Performance
Shares of AJG stock traded down $2.43 during trading hours on Friday, hitting $234.52. The company had a trading volume of 289,525 shares, compared to its average volume of 859,524. The firm’s fifty day moving average is $244.34 and its 200 day moving average is $238.92. The firm has a market capitalization of $51.20 billion, a price-to-earnings ratio of 53.34, a PEG ratio of 2.23 and a beta of 0.68. Arthur J. Gallagher & Co. has a 12 month low of $198.52 and a 12 month high of $256.10. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.03 and a current ratio of 1.03.
Arthur J. Gallagher & Co. Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 21st. Shareholders of record on Friday, June 7th will be paid a dividend of $0.60 per share. The ex-dividend date is Friday, June 7th. This represents a $2.40 dividend on an annualized basis and a yield of 1.02%. Arthur J. Gallagher & Co.’s payout ratio is 54.05%.
Analysts Set New Price Targets
Several brokerages recently issued reports on AJG. Truist Financial restated a “hold” rating and issued a $255.00 price objective (down from $280.00) on shares of Arthur J. Gallagher & Co. in a report on Wednesday, April 10th. Royal Bank of Canada increased their price objective on Arthur J. Gallagher & Co. from $270.00 to $282.00 and gave the company an “outperform” rating in a research note on Friday, March 22nd. Jefferies Financial Group downgraded Arthur J. Gallagher & Co. from a “buy” rating to a “hold” rating and cut their price objective for the stock from $279.00 to $233.00 in a report on Tuesday, January 9th. TD Cowen raised their price objective on Arthur J. Gallagher & Co. from $249.00 to $273.00 and gave the company a “hold” rating in a research note on Tuesday, April 2nd. Finally, Keefe, Bruyette & Woods cut their price target on Arthur J. Gallagher & Co. from $246.00 to $240.00 and set an “underperform” rating on the stock in a report on Wednesday, April 10th. One analyst has rated the stock with a sell rating, six have given a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $255.23.
View Our Latest Analysis on AJG
Insider Activity
In other news, VP Thomas Joseph Gallagher sold 12,309 shares of Arthur J. Gallagher & Co. stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $237.65, for a total transaction of $2,925,233.85. Following the sale, the vice president now directly owns 322,797 shares in the company, valued at approximately $76,712,707.05. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, VP Scott R. Hudson sold 15,000 shares of the company’s stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of $255.06, for a total transaction of $3,825,900.00. Following the completion of the transaction, the vice president now owns 96,709 shares in the company, valued at $24,666,597.54. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, VP Thomas Joseph Gallagher sold 12,309 shares of the company’s stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $237.65, for a total value of $2,925,233.85. Following the transaction, the vice president now owns 322,797 shares of the company’s stock, valued at approximately $76,712,707.05. The disclosure for this sale can be found here. In the last three months, insiders have sold 29,016 shares of company stock worth $7,176,180. Corporate insiders own 1.60% of the company’s stock.
Arthur J. Gallagher & Co. Profile
Arthur J. Gallagher & Co, together with its subsidiaries, provides insurance and reinsurance brokerage, consulting, and third-party property/casualty claims settlement and administration services to entities and individuals worldwide. It operates in Brokerage and Risk Management segments. The Brokerage segment offers retail and wholesale insurance and reinsurance brokerage services; assists retail brokers and other non-affiliated brokers in the placement of specialized and hard-to-place insurance; and acts as a brokerage wholesaler, managing general agent, and managing general underwriter for distributing specialized insurance coverages to underwriting enterprises.
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