Arthur J. Gallagher & Co. (NYSE:AJG) Holdings Boosted by Annex Advisory Services LLC

Annex Advisory Services LLC grew its stake in shares of Arthur J. Gallagher & Co. (NYSE:AJG) by 29.0% in the 4th quarter, Holdings Channel reports. The firm owned 53,021 shares of the financial services provider’s stock after acquiring an additional 11,920 shares during the quarter. Annex Advisory Services LLC’s holdings in Arthur J. Gallagher & Co. were worth $15,050,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also made changes to their positions in AJG. The Manufacturers Life Insurance Company raised its holdings in shares of Arthur J. Gallagher & Co. by 219.6% during the second quarter. The Manufacturers Life Insurance Company now owns 1,043,769 shares of the financial services provider’s stock valued at $270,660,000 after buying an additional 717,221 shares during the last quarter. Principal Financial Group Inc. increased its position in Arthur J. Gallagher & Co. by 231.2% in the 3rd quarter. Principal Financial Group Inc. now owns 885,796 shares of the financial services provider’s stock valued at $249,237,000 after acquiring an additional 618,362 shares during the period. FMR LLC raised its stake in Arthur J. Gallagher & Co. by 4.9% during the 3rd quarter. FMR LLC now owns 12,305,478 shares of the financial services provider’s stock valued at $3,462,392,000 after acquiring an additional 580,134 shares in the last quarter. Assenagon Asset Management S.A. grew its stake in shares of Arthur J. Gallagher & Co. by 6,581.9% in the fourth quarter. Assenagon Asset Management S.A. now owns 437,464 shares of the financial services provider’s stock worth $124,174,000 after purchasing an additional 430,917 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA increased its holdings in shares of Arthur J. Gallagher & Co. by 13.6% during the third quarter. Massachusetts Financial Services Co. MA now owns 3,196,992 shares of the financial services provider’s stock valued at $899,538,000 after purchasing an additional 383,130 shares during the period. Institutional investors own 85.53% of the company’s stock.

Insider Activity

In other news, VP Christopher E. Mead sold 2,800 shares of Arthur J. Gallagher & Co. stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $287.00, for a total value of $803,600.00. Following the transaction, the vice president now directly owns 14,674 shares in the company, valued at approximately $4,211,438. The trade was a 16.02 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Douglas K. Howell sold 7,000 shares of the stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $284.70, for a total value of $1,992,900.00. Following the sale, the chief financial officer now owns 75,963 shares of the company’s stock, valued at approximately $21,626,666.10. The trade was a 8.44 % decrease in their position. The disclosure for this sale can be found here. 1.60% of the stock is currently owned by insiders.

Arthur J. Gallagher & Co. Stock Down 0.2 %

Shares of Arthur J. Gallagher & Co. stock opened at $295.22 on Monday. The firm has a market cap of $73.75 billion, a price-to-earnings ratio of 56.23 and a beta of 0.76. The stock has a 50-day simple moving average of $291.99 and a 200-day simple moving average of $287.02. Arthur J. Gallagher & Co. has a 52-week low of $227.08 and a 52-week high of $316.72. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.06 and a quick ratio of 1.06.

Arthur J. Gallagher & Co. (NYSE:AJG) last announced its quarterly earnings results on Thursday, October 24th. The financial services provider reported $2.26 EPS for the quarter, hitting the consensus estimate of $2.26. The company had revenue of $2.77 billion for the quarter, compared to analyst estimates of $2.78 billion. Arthur J. Gallagher & Co. had a net margin of 10.40% and a return on equity of 19.12%. Arthur J. Gallagher & Co.’s quarterly revenue was up 12.8% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.00 EPS. On average, equities research analysts expect that Arthur J. Gallagher & Co. will post 10.06 earnings per share for the current fiscal year.

Arthur J. Gallagher & Co. Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, December 20th. Stockholders of record on Friday, December 6th were paid a dividend of $0.60 per share. The ex-dividend date was Friday, December 6th. This represents a $2.40 annualized dividend and a dividend yield of 0.81%. Arthur J. Gallagher & Co.’s dividend payout ratio (DPR) is presently 45.71%.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the stock. Piper Sandler upgraded shares of Arthur J. Gallagher & Co. from a “neutral” rating to an “overweight” rating and increased their target price for the company from $285.00 to $315.00 in a research report on Wednesday, January 8th. TD Cowen upgraded shares of Arthur J. Gallagher & Co. from a “hold” rating to a “buy” rating and increased their price objective for the company from $295.00 to $377.00 in a report on Friday, January 10th. Barclays boosted their target price on Arthur J. Gallagher & Co. from $300.00 to $308.00 and gave the stock an “equal weight” rating in a report on Thursday, November 21st. Keefe, Bruyette & Woods upgraded Arthur J. Gallagher & Co. from an “underperform” rating to a “market perform” rating and lowered their price target for the company from $292.00 to $286.00 in a research report on Friday, January 10th. Finally, 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. Two equities research analysts have rated the stock with a sell rating, six have issued 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 a consensus price target of $304.07.

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