Eastern Bank decreased its stake in shares of Arthur J. Gallagher & Co. (NYSE:AJG – Free Report) by 4.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 820 shares of the financial services provider’s stock after selling 41 shares during the period. Eastern Bank’s holdings in Arthur J. Gallagher & Co. were worth $233,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Wealth Enhancement Advisory Services LLC lifted its position in Arthur J. Gallagher & Co. by 21.2% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 67,146 shares of the financial services provider’s stock worth $18,893,000 after buying an additional 11,752 shares in the last quarter. DekaBank Deutsche Girozentrale lifted its position in Arthur J. Gallagher & Co. by 15.7% during the 3rd quarter. DekaBank Deutsche Girozentrale now owns 109,639 shares of the financial services provider’s stock worth $30,450,000 after buying an additional 14,860 shares in the last quarter. Principal Financial Group Inc. lifted its position in Arthur J. Gallagher & Co. by 231.2% during the 3rd quarter. Principal Financial Group Inc. now owns 885,796 shares of the financial services provider’s stock worth $249,237,000 after buying an additional 618,362 shares in the last quarter. MML Investors Services LLC lifted its position in Arthur J. Gallagher & Co. by 1.2% during the 3rd quarter. MML Investors Services LLC now owns 183,857 shares of the financial services provider’s stock worth $51,732,000 after buying an additional 2,092 shares in the last quarter. Finally, MQS Management LLC acquired a new position in Arthur J. Gallagher & Co. during the 3rd quarter worth about $749,000. Institutional investors and hedge funds own 85.53% of the company’s stock.
Arthur J. Gallagher & Co. Trading Up 1.0 %
Shares of Arthur J. Gallagher & Co. stock opened at $288.79 on Wednesday. The business has a fifty day simple moving average of $291.88 and a two-hundred day simple moving average of $286.33. Arthur J. Gallagher & Co. has a 1 year low of $227.08 and a 1 year high of $316.72. The company has a market capitalization of $72.14 billion, a price-to-earnings ratio of 55.01, a P/E/G ratio of 2.41 and a beta of 0.76. 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. Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Friday, December 20th. Investors of record on Friday, December 6th were given a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 0.83%. The ex-dividend date of this dividend was Friday, December 6th. Arthur J. Gallagher & Co.’s payout ratio is currently 45.71%.
Analyst Ratings Changes
A number of research analysts have issued reports on AJG shares. TD Cowen upgraded shares of Arthur J. Gallagher & Co. from a “hold” rating to a “buy” rating and upped their target price for the company from $295.00 to $377.00 in a research report on Friday, January 10th. Jefferies Financial Group upped their target price on shares of Arthur J. Gallagher & Co. from $269.00 to $274.00 and gave the company a “hold” rating in a research report on Wednesday, October 9th. Barclays upped their target price on shares of Arthur J. Gallagher & Co. from $300.00 to $308.00 and gave the company an “equal weight” rating in a research report on Thursday, November 21st. Wells Fargo & Company upped their target price on shares of Arthur J. Gallagher & Co. from $315.00 to $344.00 and gave the company an “overweight” rating in a research report on Tuesday, December 10th. Finally, Truist Financial upped their target price on shares of Arthur J. Gallagher & Co. from $265.00 to $275.00 and gave the company a “hold” rating in a research report on Friday, September 20th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, Arthur J. Gallagher & Co. has a consensus rating of “Hold” and an average price target of $304.07.
View Our Latest Stock Analysis on Arthur J. Gallagher & Co.
Insider Buying and Selling
In other Arthur J. Gallagher & Co. 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 owns 14,674 shares in the company, valued at $4,211,438. The trade was a 16.02 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Douglas K. Howell sold 7,000 shares of Arthur J. Gallagher & Co. stock in a transaction dated 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 completion of the transaction, the chief financial officer now owns 75,963 shares in the company, valued at approximately $21,626,666.10. This represents a 8.44 % decrease in their position. The disclosure for this sale can be found here. 1.60% of the stock is owned by company insiders.
Arthur J. Gallagher & Co. Profile
Arthur J. Gallagher & Co, together with its subsidiaries, provides insurance and reinsurance brokerage, consulting, and third-party property/casualty claims settlement and administration services to entities and individuals worldwide. It operates in Brokerage and Risk Management segments. The Brokerage segment offers retail and wholesale insurance and reinsurance brokerage services; assists retail brokers and other non-affiliated brokers in the placement of specialized and hard-to-place insurance; and acts as a brokerage wholesaler, managing general agent, and managing general underwriter for distributing specialized insurance coverages to underwriting enterprises.
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