ExodusPoint Capital Management LP Makes New Investment in Arthur J. Gallagher & Co. (NYSE:AJG)

ExodusPoint Capital Management LP acquired a new position in Arthur J. Gallagher & Co. (NYSE:AJG) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 17,968 shares of the financial services provider’s stock, valued at approximately $5,100,000.

Several other institutional investors and hedge funds have also recently modified their holdings of AJG. Norges Bank purchased a new stake in Arthur J. Gallagher & Co. in the 4th quarter worth $1,421,591,000. Vanguard Group Inc. raised its stake in Arthur J. Gallagher & Co. by 14.9% during the 4th quarter. Vanguard Group Inc. now owns 29,672,134 shares of the financial services provider’s stock valued at $8,422,435,000 after purchasing an additional 3,851,661 shares during the period. Wellington Management Group LLP lifted its holdings in Arthur J. Gallagher & Co. by 162.0% in the 4th quarter. Wellington Management Group LLP now owns 2,822,319 shares of the financial services provider’s stock worth $801,115,000 after purchasing an additional 1,745,283 shares in the last quarter. Principal Financial Group Inc. boosted its stake in Arthur J. Gallagher & Co. by 126.2% in the 4th quarter. Principal Financial Group Inc. now owns 2,003,237 shares of the financial services provider’s stock worth $568,619,000 after purchasing an additional 1,117,441 shares during the period. Finally, Geode Capital Management LLC grew its holdings in Arthur J. Gallagher & Co. by 14.3% during the 4th quarter. Geode Capital Management LLC now owns 6,277,993 shares of the financial services provider’s stock valued at $1,779,248,000 after buying an additional 787,265 shares in the last quarter. 85.53% of the stock is currently owned by institutional investors.

Arthur J. Gallagher & Co. Stock Performance

Shares of Arthur J. Gallagher & Co. stock opened at $318.97 on Friday. The company has a quick ratio of 1.51, a current ratio of 1.51 and a debt-to-equity ratio of 0.63. The stock’s fifty day moving average is $326.40 and its two-hundred day moving average is $302.45. Arthur J. Gallagher & Co. has a 52 week low of $230.08 and a 52 week high of $350.70. The company has a market capitalization of $81.57 billion, a PE ratio of 48.92 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 EPS for the quarter, topping 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%. As a group, analysts expect that Arthur J. Gallagher & Co. will post 11.54 earnings per share for the current year.

Arthur J. Gallagher & Co. Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 21st. Investors of record on Friday, March 7th were paid a $0.65 dividend. The ex-dividend date of this dividend was Friday, March 7th. This represents a $2.60 annualized dividend and a yield of 0.82%. 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 39.88%.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. Keefe, Bruyette & Woods raised their target price on shares of Arthur J. Gallagher & Co. from $308.00 to $314.00 and gave the company a “market perform” rating in a research note on Friday, March 21st. Truist Financial lifted their target price on Arthur J. Gallagher & Co. from $275.00 to $290.00 and gave the stock a “hold” rating in a report on Friday, January 31st. Piper Sandler raised Arthur J. Gallagher & Co. from a “neutral” rating to an “overweight” rating and increased their price target for the company from $285.00 to $315.00 in a research note on Wednesday, January 8th. Wells Fargo & Company lifted their price objective on Arthur J. Gallagher & Co. from $341.00 to $370.00 and gave the stock an “overweight” rating in a research note on Friday, March 21st. Finally, Redburn Atlantic began coverage on Arthur J. Gallagher & Co. in a research report on Tuesday, March 25th. They set a “neutral” rating and a $352.00 target price for the company. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, Arthur J. Gallagher & Co. has an average rating of “Hold” and a consensus price target of $313.20.

Insiders Place Their Bets

In other Arthur J. Gallagher & Co. news, VP Christopher E. Mead sold 2,900 shares of the firm’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $302.61, for a total transaction of $877,569.00. Following the transaction, the vice president now owns 14,674 shares of the company’s stock, valued at approximately $4,440,499.14. This trade represents a 16.50 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Sherry S. Barrat sold 2,500 shares of the company’s stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $304.33, for a total transaction of $760,825.00. Following the completion of the sale, the director now directly owns 16,533 shares of the company’s stock, valued at $5,031,487.89. The trade was a 13.14 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 23,235 shares of company stock worth $7,478,224 in the last ninety days. 1.60% of the stock is owned by company insiders.

Arthur J. Gallagher & Co. 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 segments: Brokerage, Risk Management, and Corporate. The Brokerage segment consists of retail and wholesale insurance brokerage operations.