State of Alaska Department of Revenue Acquires 2,440 Shares of Arthur J. Gallagher & Co. (NYSE:AJG)

State of Alaska Department of Revenue lifted its position in Arthur J. Gallagher & Co. (NYSE:AJG) by 5.2% during the 4th quarter, Holdings Channel reports. The firm owned 49,797 shares of the financial services provider’s stock after buying an additional 2,440 shares during the quarter. State of Alaska Department of Revenue’s holdings in Arthur J. Gallagher & Co. were worth $14,134,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the company. Bleakley Financial Group LLC boosted its holdings in Arthur J. Gallagher & Co. by 5.6% during the fourth quarter. Bleakley Financial Group LLC now owns 5,561 shares of the financial services provider’s stock worth $1,578,000 after buying an additional 296 shares during the last quarter. Tyche Wealth Partners LLC bought a new position in shares of Arthur J. Gallagher & Co. during the 4th quarter worth approximately $587,000. Choreo LLC lifted its holdings in Arthur J. Gallagher & Co. by 40.1% during the 4th quarter. Choreo LLC now owns 17,813 shares of the financial services provider’s stock worth $5,064,000 after purchasing an additional 5,102 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its holdings in Arthur J. Gallagher & Co. by 47.6% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 35,947 shares of the financial services provider’s stock valued at $10,262,000 after acquiring an additional 11,587 shares in the last quarter. Finally, Y.D. More Investments Ltd lifted its stake in Arthur J. Gallagher & Co. by 124.0% during the fourth quarter. Y.D. More Investments Ltd now owns 271 shares of the financial services provider’s stock worth $77,000 after purchasing an additional 150 shares during the last quarter. Institutional investors own 85.53% of the company’s stock.

Wall Street Analyst Weigh In

AJG has been the subject of a number of recent research reports. Piper Sandler raised Arthur J. Gallagher & Co. from a “neutral” rating to an “overweight” rating and upped their target price for the stock from $285.00 to $315.00 in a report on Wednesday, January 8th. Barclays upped their price objective on shares of Arthur J. Gallagher & Co. from $300.00 to $308.00 and gave the stock an “equal weight” rating in a research report on Thursday, November 21st. 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 report on Monday, November 25th. Wells Fargo & Company lowered their price target on shares of Arthur J. Gallagher & Co. from $344.00 to $341.00 and set an “overweight” rating on the stock in a research report on Friday, January 31st. Finally, Royal Bank of Canada raised their price target on shares of Arthur J. Gallagher & Co. from $320.00 to $340.00 and gave the company an “outperform” rating in a report 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.com, the stock has an average rating of “Hold” and an average target price of $307.00.

Arthur J. Gallagher & Co. Stock Performance

Shares of AJG stock opened at $316.14 on Thursday. The firm has a market capitalization of $78.97 billion, a PE ratio of 48.49 and a beta of 0.77. The company has a quick ratio of 1.06, a current ratio of 1.51 and a debt-to-equity ratio of 0.63. The company has a 50 day moving average price of $291.70 and a 200-day moving average price of $289.51. Arthur J. Gallagher & Co. has a 52 week low of $230.08 and a 52 week high of $316.72.

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 analysts’ consensus estimates 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, equities research analysts expect that Arthur J. Gallagher & Co. will post 11.53 earnings per share for the current year.

Arthur J. Gallagher & Co. Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 21st. Investors of record on Friday, March 7th will be issued a $0.65 dividend. This is an increase from Arthur J. Gallagher & Co.’s previous quarterly dividend of $0.60. The ex-dividend date is Friday, March 7th. This represents a $2.60 dividend on an annualized basis and a dividend yield of 0.82%. Arthur J. Gallagher & Co.’s dividend payout ratio (DPR) is presently 39.88%.

Insider Buying and Selling at Arthur J. Gallagher & Co.

In related news, VP Christopher E. Mead sold 2,900 shares of the stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $302.61, for a total value of $877,569.00. Following the transaction, the vice president now owns 14,674 shares of the company’s stock, valued at $4,440,499.14. This represents a 16.50 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Sherry S. Barrat sold 2,500 shares of the company’s stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $304.33, for a total transaction of $760,825.00. Following the completion of the sale, the director now directly owns 16,533 shares of the company’s stock, valued at $5,031,487.89. The trade was a 13.14 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.60% of the company’s stock.

About Arthur J. Gallagher & Co.

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.