Victory Capital Management Inc. Sells 9,242 Shares of Arthur J. Gallagher & Co. (NYSE:AJG)

Victory Capital Management Inc. trimmed its position in Arthur J. Gallagher & Co. (NYSE:AJG – Get Rating) by 7.6% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 112,179 shares of the financial services provider’s stock after selling 9,242 shares during the quarter. Victory Capital Management Inc.’s holdings in Arthur J. Gallagher & Co. were worth $21,766,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in AJG. Axiom Investors LLC DE bought a new stake in Arthur J. Gallagher & Co. during the 4th quarter worth approximately $116,254,000. Bain Capital Public Equity Management II LLC increased its holdings in Arthur J. Gallagher & Co. by 502.3% during the 3rd quarter. Bain Capital Public Equity Management II LLC now owns 499,542 shares of the financial services provider’s stock worth $85,532,000 after purchasing an additional 416,605 shares in the last quarter. Massachusetts Financial Services Co. MA increased its holdings in Arthur J. Gallagher & Co. by 5.7% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 5,534,252 shares of the financial services provider’s stock worth $947,576,000 after purchasing an additional 300,053 shares in the last quarter. Vanguard Group Inc. increased its holdings in Arthur J. Gallagher & Co. by 1.0% during the 3rd quarter. Vanguard Group Inc. now owns 25,783,678 shares of the financial services provider’s stock worth $4,414,680,000 after purchasing an additional 266,711 shares in the last quarter. Finally, UBS Group AG boosted its stake in shares of Arthur J. Gallagher & Co. by 75.9% in the 4th quarter. UBS Group AG now owns 367,314 shares of the financial services provider’s stock worth $69,253,000 after buying an additional 158,460 shares during the last quarter. 82.07% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on AJG shares. Royal Bank of Canada boosted their target price on Arthur J. Gallagher & Co. from $225.00 to $230.00 in a research note on Friday, April 28th. Piper Sandler boosted their target price on Arthur J. Gallagher & Co. from $215.00 to $220.00 in a research note on Friday, April 28th. StockNews.com started coverage on Arthur J. Gallagher & Co. in a research note on Thursday. They issued a “hold” rating on the stock. Truist Financial boosted their target price on Arthur J. Gallagher & Co. from $220.00 to $230.00 and gave the stock a “buy” rating in a research note on Monday, January 30th. Finally, Wells Fargo & Company upped their price objective on Arthur J. Gallagher & Co. from $215.00 to $233.00 and gave the company an “overweight” rating in a research note on Friday, January 27th. Four investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Arthur J. Gallagher & Co. presently has an average rating of “Moderate Buy” and a consensus price target of $217.71.

Arthur J. Gallagher & Co. Trading Up 0.7 %

Arthur J. Gallagher & Co. stock opened at $216.07 on Monday. The stock has a market cap of $46.29 billion, a P/E ratio of 40.09, a PEG ratio of 2.33 and a beta of 0.69. Arthur J. Gallagher & Co. has a fifty-two week low of $148.24 and a fifty-two week high of $219.23. The firm’s fifty day moving average price is $200.35 and its 200-day moving average price is $194.76. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.06 and a current ratio of 1.06.

Arthur J. Gallagher & Co. Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 16th. Stockholders of record on Friday, June 2nd will be issued a $0.55 dividend. The ex-dividend date of this dividend is Thursday, June 1st. This represents a $2.20 annualized dividend and a dividend yield of 1.02%. Arthur J. Gallagher & Co.’s payout ratio is currently 40.82%.

Insider Transactions at Arthur J. Gallagher & Co.

In related news, CAO Richard C. Cary sold 3,204 shares of the stock in a transaction on Wednesday, May 10th. The stock was sold at an average price of $217.62, for a total value of $697,254.48. Following the transaction, the chief accounting officer now owns 37,285 shares of the company’s stock, valued at $8,113,961.70. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, Director David S. Johnson sold 1,000 shares of the stock in a transaction on Wednesday, March 8th. The stock was sold at an average price of $189.62, for a total value of $189,620.00. Following the transaction, the director now owns 46,508 shares of the company’s stock, valued at $8,818,846.96. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CAO Richard C. Cary sold 3,204 shares of the stock in a transaction on Wednesday, May 10th. The shares were sold at an average price of $217.62, for a total value of $697,254.48. Following the completion of the transaction, the chief accounting officer now directly owns 37,285 shares in the company, valued at approximately $8,113,961.70. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 125,354 shares of company stock valued at $25,882,434. 1.60% of the stock is currently owned by company insiders.

Arthur J. Gallagher & Co. Profile

(Get Rating)

Arthur J. Gallagher & Co engages in the provision of insurance 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.