Ninety One North America Inc. Has $1.29 Million Stock Position in Arthur J. Gallagher & Co. (NYSE:AJG)

Ninety One North America Inc. reduced its stake in shares of Arthur J. Gallagher & Co. (NYSE:AJG) by 11.6% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 4,558 shares of the financial services provider’s stock after selling 597 shares during the period. Ninety One North America Inc.’s holdings in Arthur J. Gallagher & Co. were worth $1,294,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Valley National Advisers Inc. bought a new position in shares of Arthur J. Gallagher & Co. in the fourth quarter valued at approximately $25,000. Pin Oak Investment Advisors Inc. grew 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 bought a new position in shares of Arthur J. Gallagher & Co. in the second quarter valued at approximately $29,000. Rakuten Securities Inc. grew its holdings in shares of 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 valued at $29,000 after acquiring an additional 87 shares in the last quarter. Finally, E Fund Management Hong Kong Co. Ltd. bought a new position in shares of Arthur J. Gallagher & Co. in the fourth quarter valued at approximately $35,000. 85.53% of the stock is owned by institutional investors.

Analysts Set New Price Targets

AJG has been the subject of several research reports. Bank of America increased their price objective on Arthur J. Gallagher & Co. from $271.00 to $293.00 and gave the company an “underperform” rating in a report on Thursday, October 10th. Keefe, Bruyette & Woods increased their price objective on Arthur J. Gallagher & Co. from $286.00 to $295.00 and gave the company a “market perform” rating in a report on Friday. Piper Sandler raised Arthur J. Gallagher & Co. from a “neutral” rating to an “overweight” rating and increased their price objective for the company from $285.00 to $315.00 in a report on Wednesday, January 8th. Truist Financial increased their target price on Arthur J. Gallagher & Co. from $275.00 to $290.00 and gave the stock a “hold” rating in a research report on Friday. Finally, The Goldman Sachs Group downgraded Arthur J. Gallagher & Co. from a “buy” rating to a “neutral” rating and set a $313.00 target price on the stock. in a research report on Monday, November 25th. Two equities research 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 data from MarketBeat, Arthur J. Gallagher & Co. currently has a consensus rating of “Hold” and a consensus target price of $307.00.

Arthur J. Gallagher & Co. Trading Up 0.4 %

Shares of AJG stock opened at $310.20 on Tuesday. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.06 and a current ratio of 1.51. Arthur J. Gallagher & Co. has a 52-week low of $230.08 and a 52-week high of $316.72. The company has a market capitalization of $77.49 billion, a PE ratio of 47.60 and a beta of 0.77. The business’s fifty day moving average is $291.66 and its 200 day moving average is $288.94.

Arthur J. Gallagher & Co. (NYSE:AJG) last issued its quarterly earnings data on Thursday, January 30th. The financial services provider reported $2.13 earnings per share (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%. On average, equities research analysts anticipate that Arthur J. Gallagher & Co. will post 11.53 EPS for the current fiscal year.

Arthur J. Gallagher & Co. Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 21st. Investors of record on Friday, March 7th will be paid a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a yield of 0.84%. The ex-dividend date is Friday, March 7th. This is a boost 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.