CIBC Asset Management Inc raised its holdings in shares of Arthur J. Gallagher & Co. (NYSE:AJG - Free Report) by 12.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 48,314 shares of the financial services provider's stock after buying an additional 5,198 shares during the period. CIBC Asset Management Inc's holdings in Arthur J. Gallagher & Co. were worth $13,714,000 at the end of the most recent reporting period.
Several other institutional investors have also added to or reduced their stakes in AJG. Creative Planning boosted its holdings in shares of Arthur J. Gallagher & Co. by 4.4% during the third quarter. Creative Planning now owns 59,653 shares of the financial services provider's stock worth $16,785,000 after purchasing an additional 2,537 shares during the period. Stratos Wealth Advisors LLC boosted its holdings in shares of Arthur J. Gallagher & Co. by 5.5% during the third quarter. Stratos Wealth Advisors LLC now owns 1,288 shares of the financial services provider's stock worth $363,000 after purchasing an additional 67 shares during the period. Blue Trust Inc. boosted its holdings in shares of Arthur J. Gallagher & Co. by 84.9% during the third quarter. Blue Trust Inc. now owns 2,045 shares of the financial services provider's stock worth $530,000 after purchasing an additional 939 shares during the period. Allspring Global Investments Holdings LLC boosted its holdings in shares of Arthur J. Gallagher & Co. by 0.5% during the third quarter. Allspring Global Investments Holdings LLC now owns 10,216 shares of the financial services provider's stock worth $2,874,000 after purchasing an additional 48 shares during the period. Finally, Sequoia Financial Advisors LLC boosted its holdings in shares of Arthur J. Gallagher & Co. by 37.7% during the third quarter. Sequoia Financial Advisors LLC now owns 65,338 shares of the financial services provider's stock worth $18,384,000 after purchasing an additional 17,894 shares during the period. 85.53% of the stock is currently owned by hedge funds and other institutional investors.
A number of analysts have recently weighed in on the stock. Truist Financial increased their target price on shares of Arthur J. Gallagher & Co. from $275.00 to $290.00 and gave the stock a "hold" rating in a report on Friday, January 31st. TD Cowen raised shares of Arthur J. Gallagher & Co. from a "hold" rating to a "buy" rating and increased their price target for the stock from $295.00 to $377.00 in a research note on Friday, January 10th. Keefe, Bruyette & Woods increased their price target on shares of Arthur J. Gallagher & Co. from $286.00 to $295.00 and gave the stock a "market perform" rating in a research note on Friday, January 31st. Barclays increased their price target on shares of Arthur J. Gallagher & Co. from $300.00 to $308.00 and gave the stock an "equal weight" rating in a research note on Thursday, November 21st. Finally, Wells Fargo & Company decreased their target price on shares of Arthur J. Gallagher & Co. from $344.00 to $341.00 and set an "overweight" rating for the company in a research note on Friday, January 31st. Two research analysts have rated the stock with a sell rating, six have given a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $307.00.
View Our Latest Report on Arthur J. Gallagher & Co.
In other news, Director David S. Johnson sold 325 shares of the firm's stock in a transaction on Wednesday, February 12th. The shares were sold at an average price of $322.06, for a total transaction of $104,669.50. Following the sale, the director now directly owns 44,783 shares in the company, valued at $14,422,812.98. This trade represents a 0.72 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Sherry S. Barrat sold 2,500 shares of the firm's stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $304.33, for a total transaction of $760,825.00. Following the sale, the director now 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 15,725 shares of company stock worth $4,972,964 in the last 90 days. 1.60% of the stock is currently owned by insiders.
Shares of AJG stock opened at $325.85 on Wednesday. Arthur J. Gallagher & Co. has a 12-month low of $230.08 and a 12-month high of $329.60. The company has a current ratio of 1.51, a quick ratio of 1.06 and a debt-to-equity ratio of 0.63. The firm's 50 day moving average is $294.54 and its 200 day moving average is $292.26. The stock has a market capitalization of $81.40 billion, a P/E ratio of 49.98 and a beta of 0.77.
Arthur J. Gallagher & Co. (NYSE:AJG - Get Free Report) last issued its earnings results on Thursday, January 30th. The financial services provider reported $2.13 earnings per share (EPS) for the quarter, topping the consensus estimate 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%. Research analysts expect that Arthur J. Gallagher & Co. will post 11.4 earnings per share for the current year.
The firm also recently declared 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. This represents a $2.60 annualized dividend and a dividend yield of 0.80%. The ex-dividend date is Friday, March 7th. This is a boost from Arthur J. Gallagher & Co.'s previous quarterly dividend of $0.60. Arthur J. Gallagher & Co.'s dividend payout ratio (DPR) is currently 39.88%.
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.
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