Longboard Asset Management LP Purchases Shares of 924 Arthur J. Gallagher & Co. (NYSE:AJG)

Longboard Asset Management LP acquired a new position in Arthur J. Gallagher & Co. (NYSE:AJG) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 924 shares of the financial services provider’s stock, valued at approximately $262,000. Arthur J. Gallagher & Co. accounts for approximately 0.7% of Longboard Asset Management LP’s investment portfolio, making the stock its 12th largest position.

Several other hedge funds have also recently added to or reduced their stakes in AJG. Baltimore Washington Financial Advisors Inc. lifted its holdings in shares of Arthur J. Gallagher & Co. by 13.7% during the fourth quarter. Baltimore Washington Financial Advisors Inc. now owns 51,745 shares of the financial services provider’s stock worth $14,688,000 after buying an additional 6,248 shares during the last quarter. Financial Life Planners bought a new position in Arthur J. Gallagher & Co. during the fourth quarter worth $36,000. Catalina Capital Group LLC raised its stake in Arthur J. Gallagher & Co. by 1.0% during the 4th quarter. Catalina Capital Group LLC now owns 3,380 shares of the financial services provider’s stock valued at $959,000 after purchasing an additional 35 shares during the last quarter. Chicago Capital LLC grew its position in Arthur J. Gallagher & Co. by 7.0% in the 4th quarter. Chicago Capital LLC now owns 10,555 shares of the financial services provider’s stock worth $2,996,000 after purchasing an additional 690 shares during the last quarter. Finally, CENTRAL TRUST Co increased its holdings in shares of Arthur J. Gallagher & Co. by 1.0% during the 4th quarter. CENTRAL TRUST Co now owns 21,281 shares of the financial services provider’s stock worth $6,041,000 after purchasing an additional 208 shares during the period. Institutional investors own 85.53% of the company’s stock.

Arthur J. Gallagher & Co. Stock Up 2.4 %

Shares of AJG opened at $309.05 on Tuesday. The company has a market capitalization of $77.20 billion, a P/E ratio of 47.40 and a beta of 0.77. Arthur J. Gallagher & Co. has a one year low of $230.08 and a one year high of $316.72. The business’s 50 day simple moving average is $291.66 and its 200-day simple moving average is $288.94. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.51 and a quick ratio of 1.06.

Arthur J. Gallagher & Co. (NYSE:AJG) last announced its earnings results on Thursday, January 30th. The financial services provider reported $2.13 EPS for the quarter, topping the consensus estimate 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%. As a group, sell-side analysts predict that Arthur J. Gallagher & Co. will post 11.53 EPS for the current fiscal year.

Arthur J. Gallagher & Co. Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 21st. Shareholders of record on Friday, March 7th will be paid a $0.65 dividend. The ex-dividend date is Friday, March 7th. This is an increase from Arthur J. Gallagher & Co.’s previous quarterly dividend of $0.60. This represents a $2.60 dividend on an annualized basis and a dividend yield of 0.84%. Arthur J. Gallagher & Co.’s payout ratio is currently 36.81%.

Analyst Ratings Changes

AJG has been the topic of a number of recent research reports. Royal Bank of Canada lifted their target price on Arthur J. Gallagher & Co. from $320.00 to $340.00 and gave the stock an “outperform” rating in a research report on Friday. Keefe, Bruyette & Woods boosted their price objective on Arthur J. Gallagher & Co. from $286.00 to $295.00 and gave the company a “market perform” rating in a research report on Friday. The Goldman Sachs Group cut Arthur J. Gallagher & Co. from a “buy” rating to a “neutral” rating and set a $313.00 target price for the company. in a research report on Monday, November 25th. Piper Sandler upgraded shares of Arthur J. Gallagher & Co. from a “neutral” rating to an “overweight” rating and increased their price objective for the company from $285.00 to $315.00 in a research note on Wednesday, January 8th. Finally, Truist Financial lifted their target price on shares of Arthur J. Gallagher & Co. from $275.00 to $290.00 and gave the company a “hold” rating in a research report on Friday. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $307.00.

Arthur J. Gallagher & Co. 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.