DAVENPORT & Co LLC Buys 9,485 Shares of Arthur J. Gallagher & Co. (NYSE:AJG)

DAVENPORT & Co LLC increased its position in Arthur J. Gallagher & Co. (NYSE:AJG) by 142.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 16,150 shares of the financial services provider’s stock after purchasing an additional 9,485 shares during the quarter. DAVENPORT & Co LLC’s holdings in Arthur J. Gallagher & Co. were worth $4,584,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Pin Oak Investment Advisors Inc. raised its holdings in shares of Arthur J. Gallagher & Co. by 543.8% in the third quarter. Pin Oak Investment Advisors Inc. now owns 103 shares of the financial services provider’s stock valued at $28,000 after acquiring an additional 87 shares in the last quarter. Quarry LP purchased a new position in Arthur J. Gallagher & Co. during the second quarter valued at approximately $29,000. Rakuten Securities Inc. raised its stake in Arthur J. Gallagher & Co. by 580.0% in the third quarter. Rakuten Securities Inc. now owns 102 shares of the financial services provider’s stock worth $29,000 after buying an additional 87 shares in the last quarter. E Fund Management Hong Kong Co. Ltd. purchased a new stake in Arthur J. Gallagher & Co. during the fourth quarter worth $35,000. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA boosted its position in Arthur J. Gallagher & Co. by 47.6% during the 3rd quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 152 shares of the financial services provider’s stock valued at $44,000 after acquiring an additional 49 shares in the last quarter. 85.53% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

AJG has been the subject of a number of analyst reports. Royal Bank of Canada upped their price objective on Arthur J. Gallagher & Co. from $320.00 to $340.00 and gave the stock an “outperform” rating in a research note on Friday. TD Cowen upgraded shares of Arthur J. Gallagher & Co. from a “hold” rating to a “buy” rating and raised their price target for the company from $295.00 to $377.00 in a report on Friday, January 10th. Piper Sandler upgraded shares of Arthur J. Gallagher & Co. from a “neutral” rating to an “overweight” rating and boosted their price objective for the stock from $285.00 to $315.00 in a research note on Wednesday, January 8th. BMO Capital Markets raised their target price on shares of Arthur J. Gallagher & Co. from $312.00 to $325.00 and gave the company an “outperform” rating in a research note on Tuesday, November 12th. Finally, Wells Fargo & Company reduced their price target on Arthur J. Gallagher & Co. from $344.00 to $341.00 and set an “overweight” rating on the stock in a research report on Friday. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $307.00.

Arthur J. Gallagher & Co. Stock Performance

Shares of NYSE AJG opened at $309.05 on Tuesday. The stock has a market cap of $77.20 billion, a price-to-earnings ratio of 47.40 and a beta of 0.77. Arthur J. Gallagher & Co. has a 12 month low of $230.08 and a 12 month high of $316.72. The company has a 50 day simple moving average of $291.66 and a two-hundred day simple moving average of $288.94. The company has a current ratio of 1.51, a quick ratio of 1.06 and a debt-to-equity ratio of 0.63.

Arthur J. Gallagher & Co. (NYSE:AJG) last announced its quarterly earnings results on Thursday, January 30th. The financial services provider reported $2.13 earnings per share 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, analysts predict that Arthur J. Gallagher & Co. will post 11.53 earnings per share for the current year.

Arthur J. Gallagher & Co. Increases Dividend

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

Arthur J. Gallagher & Co. Company 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.