Arthur J. Gallagher & Co. (NYSE:AJG) Stock Position Lowered by Fmr LLC

Fmr LLC trimmed its position in shares of Arthur J. Gallagher & Co. (NYSE:AJG) by 2.8% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 11,959,180 shares of the financial services provider’s stock after selling 346,298 shares during the period. Fmr LLC’s holdings in Arthur J. Gallagher & Co. were worth $3,394,613,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Valley National Advisers Inc. acquired a new position in Arthur J. Gallagher & Co. during the fourth quarter valued at $25,000. MRP Capital Investments LLC acquired a new position in shares of Arthur J. Gallagher & Co. in the 4th quarter valued at about $28,000. New Age Alpha Advisors LLC lifted its position in shares of Arthur J. Gallagher & Co. by 81.7% in the fourth quarter. New Age Alpha Advisors LLC now owns 109 shares of the financial services provider’s stock worth $31,000 after purchasing an additional 49 shares in the last quarter. E Fund Management Hong Kong Co. Ltd. acquired a new stake in shares of Arthur J. Gallagher & Co. during the fourth quarter worth approximately $35,000. Finally, Financial Life Planners purchased a new position in Arthur J. Gallagher & Co. during the fourth quarter valued at approximately $36,000. Hedge funds and other institutional investors own 85.53% of the company’s stock.

Insider Activity

In related news, CAO Richard C. Cary sold 10,000 shares of the business’s stock in a transaction on Monday, February 10th. The stock was sold at an average price of $322.99, for a total value of $3,229,900.00. Following the sale, the chief accounting officer now owns 69,774 shares of the company’s stock, valued at $22,536,304.26. The trade was a 12.54 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director David S. Johnson sold 325 shares of the stock in a transaction on Wednesday, February 12th. The stock was sold at an average price of $322.06, for a total value of $104,669.50. Following the transaction, the director now owns 44,783 shares of the company’s stock, valued at $14,422,812.98. This represents a 0.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 23,235 shares of company stock worth $7,478,224. Company insiders own 1.60% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on AJG shares. Keefe, Bruyette & Woods upped their price target 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. Redburn Atlantic started 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. Truist Financial increased their price objective 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. Royal Bank of Canada boosted their target price on shares of 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. Finally, Piper Sandler upgraded shares of Arthur J. Gallagher & Co. from a “neutral” rating to an “overweight” rating and raised their price target for the company from $285.00 to $315.00 in a report on Wednesday, January 8th. Two research 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 data from MarketBeat, Arthur J. Gallagher & Co. currently has an average rating of “Hold” and an average target price of $313.20.

Arthur J. Gallagher & Co. Stock Performance

AJG opened at $318.97 on Friday. The stock’s 50 day simple moving average is $326.40 and its 200-day simple moving average is $302.45. 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 stock has a market cap of $81.57 billion, a PE ratio of 48.92 and a beta of 0.75. Arthur J. Gallagher & Co. has a 1 year low of $230.08 and a 1 year high of $350.70.

Arthur J. Gallagher & Co. (NYSE:AJG) last announced its quarterly earnings data on Thursday, January 30th. The financial services provider reported $2.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.03 by $0.10. Arthur J. Gallagher & Co. had a net margin of 12.70% and a return on equity of 16.47%. Sell-side analysts forecast that Arthur J. Gallagher & Co. will post 11.54 EPS for the current year.

Arthur J. Gallagher & Co. Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 21st. Shareholders of record on Friday, March 7th were issued a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a yield of 0.82%. This is an increase from Arthur J. Gallagher & Co.’s previous quarterly dividend of $0.60. The ex-dividend date was Friday, March 7th. Arthur J. Gallagher & Co.’s payout ratio is presently 39.88%.

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.