Harbour Investments Inc. Raises Stock Position in Arthur J. Gallagher & Co. (NYSE:AJG)

Harbour Investments Inc. raised its holdings in shares of Arthur J. Gallagher & Co. (NYSE:AJG) by 5.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 935 shares of the financial services provider’s stock after acquiring an additional 50 shares during the quarter. Harbour Investments Inc.’s holdings in Arthur J. Gallagher & Co. were worth $266,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of AJG. PNC Financial Services Group Inc. raised its holdings in Arthur J. Gallagher & Co. by 4.1% during the third quarter. PNC Financial Services Group Inc. now owns 59,936 shares of the financial services provider’s stock valued at $16,864,000 after acquiring an additional 2,384 shares during the period. Segall Bryant & Hamill LLC bought a new stake in Arthur J. Gallagher & Co. during the third quarter valued at about $8,219,000. Moors & Cabot Inc. grew its position in shares of Arthur J. Gallagher & Co. by 4.4% during the third quarter. Moors & Cabot Inc. now owns 929 shares of the financial services provider’s stock valued at $261,000 after purchasing an additional 39 shares in the last quarter. Citizens Financial Group Inc. RI purchased a new position in shares of Arthur J. Gallagher & Co. during the third quarter valued at about $324,000. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its position in shares of Arthur J. Gallagher & Co. by 0.6% during the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 30,432 shares of the financial services provider’s stock valued at $8,563,000 after purchasing an additional 189 shares in the last quarter. 85.53% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

AJG has been the subject of a number of research analyst reports. Keefe, Bruyette & Woods raised their price objective on Arthur J. Gallagher & Co. from $308.00 to $314.00 and gave the company a “market perform” rating in a research report on Friday. Truist Financial raised their price objective on Arthur J. Gallagher & Co. from $275.00 to $290.00 and gave the company a “hold” rating in a research report on Friday, January 31st. Wells Fargo & Company raised their price objective on Arthur J. Gallagher & Co. from $341.00 to $370.00 and gave the company an “overweight” rating in a research report on Friday. The Goldman Sachs Group lowered Arthur J. Gallagher & Co. from a “buy” rating to a “neutral” rating and set a $313.00 price target for the company. in a research report on Monday, November 25th. Finally, TD Cowen upgraded Arthur J. Gallagher & Co. from a “hold” rating to a “buy” rating and lifted their price target for the stock from $295.00 to $377.00 in a research report on Friday, January 10th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, Arthur J. Gallagher & Co. currently has an average rating of “Hold” and a consensus target price of $310.43.

Arthur J. Gallagher & Co. Stock Down 0.7 %

Shares of NYSE:AJG opened at $332.02 on Friday. The business has a 50 day simple moving average of $316.96 and a two-hundred day simple moving average of $299.46. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.51 and a quick ratio of 1.51. Arthur J. Gallagher & Co. has a 1 year low of $230.08 and a 1 year high of $345.43. The firm has a market capitalization of $84.57 billion, a PE ratio of 50.92 and a beta of 0.75.

Arthur J. Gallagher & Co. (NYSE:AJG) last posted its quarterly earnings results on Thursday, January 30th. The financial services provider reported $2.13 earnings per share for the quarter, beating the consensus estimate 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%. On average, equities analysts predict that Arthur J. Gallagher & Co. will post 11.54 EPS for the current year.

Arthur J. Gallagher & Co. Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 21st. Stockholders of record on Friday, March 7th were paid a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a dividend yield of 0.78%. The ex-dividend date was Friday, March 7th. This is an increase from Arthur J. Gallagher & Co.’s previous quarterly dividend of $0.60. Arthur J. Gallagher & Co.’s payout ratio is currently 39.88%.

Insider Buying and Selling

In related news, CAO Richard C. Cary sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $322.99, for a total value of $3,229,900.00. Following the completion of the transaction, the chief accounting officer now owns 69,774 shares of the company’s stock, valued at $22,536,304.26. The trade was a 12.54 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Scott R. Hudson sold 7,510 shares of the business’s stock in a transaction that occurred on Friday, March 21st. The stock was sold at an average price of $333.59, for a total transaction of $2,505,260.90. Following the completion of the transaction, the vice president now directly owns 90,020 shares of the company’s stock, valued at $30,029,771.80. This trade represents a 7.70 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 23,235 shares of company stock valued at $7,478,224 over the last 90 days. Corporate insiders own 1.60% of the company’s stock.

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 segments: Brokerage, Risk Management, and Corporate. The Brokerage segment consists of retail and wholesale insurance brokerage operations.