Mediolanum International Funds Ltd Sells 1,167 Shares of Arthur J. Gallagher & Co. (NYSE:AJG)

Mediolanum International Funds Ltd decreased its position in shares of Arthur J. Gallagher & Co. (NYSE:AJG) by 2.4% during the 4th quarter, Holdings Channel reports. The fund owned 46,594 shares of the financial services provider’s stock after selling 1,167 shares during the quarter. Mediolanum International Funds Ltd’s holdings in Arthur J. Gallagher & Co. were worth $13,222,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of AJG. Strategic Investment Solutions Inc. IL acquired a new position in shares of Arthur J. Gallagher & Co. in the 2nd quarter valued at $26,000. Pin Oak Investment Advisors Inc. increased 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 worth $28,000 after acquiring an additional 87 shares in the last quarter. Quarry LP acquired a new stake in shares of Arthur J. Gallagher & Co. during the second quarter worth about $29,000. Rakuten Securities Inc. lifted its holdings in shares of Arthur J. Gallagher & Co. by 580.0% during the 3rd quarter. Rakuten Securities Inc. now owns 102 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 87 shares in the last quarter. Finally, E Fund Management Hong Kong Co. Ltd. acquired a new position in shares of Arthur J. Gallagher & Co. in the 4th quarter valued at approximately $35,000. Institutional investors and hedge funds own 85.53% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on AJG shares. Royal Bank of Canada lifted their price target on shares of Arthur J. Gallagher & Co. from $320.00 to $340.00 and gave the company an “outperform” rating in a research note on Friday. TD Cowen raised shares of Arthur J. Gallagher & Co. from a “hold” rating to a “buy” rating and upped their target price for the stock from $295.00 to $377.00 in a research note on Friday, January 10th. Bank of America lifted their price target on Arthur J. Gallagher & Co. from $271.00 to $293.00 and gave the company an “underperform” rating in a research note on Thursday, October 10th. Piper Sandler upgraded Arthur J. Gallagher & Co. from a “neutral” rating to an “overweight” rating and increased their price objective for the stock from $285.00 to $315.00 in a report on Wednesday, January 8th. Finally, The Goldman Sachs Group cut 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 note on Monday, November 25th. Two analysts have rated the stock with a sell rating, six have given a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $307.00.

Arthur J. Gallagher & Co. Stock Performance

Shares of AJG opened at $302.20 on Friday. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.06 and a quick ratio of 1.06. The firm has a 50-day moving average of $291.70 and a 200-day moving average of $288.46. The company has a market cap of $75.49 billion, a PE ratio of 57.56 and a beta of 0.76. Arthur J. Gallagher & Co. has a one year low of $227.43 and a one year high of $316.72.

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 analysts’ consensus estimates of $2.03 by $0.10. Arthur J. Gallagher & Co. had a return on equity of 19.12% and a net margin of 10.40%. As a group, equities analysts forecast that Arthur J. Gallagher & Co. will post 10.04 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 dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a yield of 0.86%. This is a boost from Arthur J. Gallagher & Co.’s previous quarterly dividend of $0.60. The ex-dividend date of this dividend is Friday, March 7th. Arthur J. Gallagher & Co.’s payout ratio is 45.71%.

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.