Arizona State Retirement System Has $20.62 Million Stock Position in Arthur J. Gallagher & Co. (NYSE:AJG)

Arizona State Retirement System grew its position in Arthur J. Gallagher & Co. (NYSE:AJG) by 15.9% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 72,641 shares of the financial services provider’s stock after buying an additional 9,992 shares during the period. Arizona State Retirement System’s holdings in Arthur J. Gallagher & Co. were worth $20,619,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Wealth Enhancement Advisory Services LLC grew its holdings in shares of Arthur J. Gallagher & Co. by 21.2% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 67,146 shares of the financial services provider’s stock valued at $18,893,000 after buying an additional 11,752 shares during the period. Principal Financial Group Inc. grew its holdings in shares of 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 buying an additional 618,362 shares during the period. Running Oak Capital LLC boosted its stake in Arthur J. Gallagher & Co. by 8.9% in the 4th quarter. Running Oak Capital LLC now owns 48,722 shares of the financial services provider’s stock worth $13,830,000 after purchasing an additional 3,983 shares during the period. MML Investors Services LLC boosted its stake in Arthur J. Gallagher & Co. by 1.2% in the 3rd quarter. MML Investors Services LLC now owns 183,857 shares of the financial services provider’s stock worth $51,732,000 after purchasing an additional 2,092 shares during the period. Finally, Nordea Investment Management AB boosted its stake in Arthur J. Gallagher & Co. by 16.7% in the 4th quarter. Nordea Investment Management AB now owns 22,436 shares of the financial services provider’s stock worth $6,381,000 after purchasing an additional 3,217 shares during the period. Institutional investors and hedge funds own 85.53% of the company’s stock.

Insider Activity at Arthur J. Gallagher & Co.

In related news, Director Sherry S. Barrat sold 2,500 shares of the company’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $304.33, for a total value of $760,825.00. Following the transaction, the director now owns 16,533 shares in the company, valued at approximately $5,031,487.89. This represents a 13.14 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Richard C. Cary sold 10,000 shares of the company’s stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $322.99, for a total transaction of $3,229,900.00. Following the completion of the transaction, the chief accounting officer now owns 69,774 shares in the company, valued at approximately $22,536,304.26. This trade represents a 12.54 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 15,725 shares of company stock worth $4,972,964. Insiders own 1.60% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on AJG shares. Barclays upped their target price 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. Wells Fargo & Company reduced 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. BMO Capital Markets upped their target price on shares of Arthur J. Gallagher & Co. from $312.00 to $325.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 12th. Royal Bank of Canada upped 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 note on Friday, January 31st. Finally, Piper Sandler raised shares of Arthur J. Gallagher & Co. from a “neutral” rating to an “overweight” rating and boosted their price target for the stock from $285.00 to $315.00 in a research report on Wednesday, January 8th. Two 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 MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $307.93.

Arthur J. Gallagher & Co. Stock Up 1.1 %

Shares of AJG stock opened at $341.00 on Thursday. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.51 and a current ratio of 1.51. The firm’s 50-day moving average is $306.11 and its 200-day moving average is $296.31. The stock has a market cap of $86.85 billion, a price-to-earnings ratio of 52.30 and a beta of 0.77. Arthur J. Gallagher & Co. has a 52-week low of $230.08 and a 52-week high of $345.43.

Arthur J. Gallagher & Co. (NYSE:AJG) last issued its earnings results 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 predict that Arthur J. Gallagher & Co. will post 11.54 EPS for the current year.

Arthur J. Gallagher & Co. Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 21st. Stockholders of record on Friday, March 7th will be issued a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a dividend yield of 0.76%. This is a boost from Arthur J. Gallagher & Co.’s previous quarterly dividend of $0.60. The ex-dividend date is Friday, March 7th. Arthur J. Gallagher & Co.’s dividend payout ratio is presently 39.88%.

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.