Keybank National Association OH Increases Holdings in Arthur J. Gallagher & Co. (NYSE:AJG)

Keybank National Association OH grew its position in shares of Arthur J. Gallagher & Co. (NYSE:AJG) by 35.8% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 4,028 shares of the financial services provider’s stock after acquiring an additional 1,061 shares during the period. Keybank National Association OH’s holdings in Arthur J. Gallagher & Co. were worth $1,143,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the company. Alley Investment Management Company LLC grew its holdings in shares of Arthur J. Gallagher & Co. by 2.0% during the 4th quarter. Alley Investment Management Company LLC now owns 59,980 shares of the financial services provider’s stock worth $17,025,000 after acquiring an additional 1,168 shares during the period. Torray Investment Partners LLC grew its holdings in shares of Arthur J. Gallagher & Co. by 1.1% during the 4th quarter. Torray Investment Partners LLC now owns 21,071 shares of the financial services provider’s stock worth $5,981,000 after acquiring an additional 222 shares during the period. Commerzbank Aktiengesellschaft FI grew its holdings in shares of Arthur J. Gallagher & Co. by 28.9% during the 4th quarter. Commerzbank Aktiengesellschaft FI now owns 1,515 shares of the financial services provider’s stock worth $431,000 after acquiring an additional 340 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in shares of Arthur J. Gallagher & Co. by 10.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,029,256 shares of the financial services provider’s stock worth $576,004,000 after acquiring an additional 184,960 shares during the period. Finally, Fidelis Capital Partners LLC grew its holdings in shares of Arthur J. Gallagher & Co. by 12.9% during the 4th quarter. Fidelis Capital Partners LLC now owns 1,800 shares of the financial services provider’s stock worth $556,000 after acquiring an additional 205 shares during the period. Hedge funds and other institutional investors own 85.53% of the company’s stock.

Arthur J. Gallagher & Co. Stock Performance

AJG stock opened at $323.81 on Friday. The stock’s 50 day simple moving average is $307.89 and its 200 day simple moving average is $296.87. The stock has a market capitalization of $82.47 billion, a PE ratio of 49.66 and a beta of 0.75. The company has a current ratio of 1.51, a quick ratio of 1.51 and a debt-to-equity ratio of 0.63. Arthur J. Gallagher & Co. has a 12-month low of $230.08 and a 12-month high of $345.43.

Arthur J. Gallagher & Co. (NYSE:AJG) last released 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 return on equity of 16.47% and a net margin of 12.70%. As a group, research analysts forecast that Arthur J. Gallagher & Co. will post 11.54 earnings per share for the current fiscal year.

Arthur J. Gallagher & Co. Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 21st. Stockholders of record on Friday, March 7th will be issued a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a dividend yield of 0.80%. This is a boost from Arthur J. Gallagher & Co.’s previous quarterly dividend of $0.60. The ex-dividend date is Friday, March 7th. Arthur J. Gallagher & Co.’s dividend payout ratio is presently 39.88%.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. Wells Fargo & Company cut 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 note on Friday, January 31st. Piper Sandler upgraded Arthur J. Gallagher & Co. from a “neutral” rating to an “overweight” rating and upped their price target for the stock from $285.00 to $315.00 in a research note on Wednesday, January 8th. The Goldman Sachs Group downgraded Arthur J. Gallagher & Co. from a “buy” rating to a “neutral” rating and set a $313.00 price target on the stock. in a research note on Monday, November 25th. Barclays upped their price target on Arthur J. Gallagher & Co. from $300.00 to $308.00 and gave the stock an “equal weight” rating in a research note on Thursday, November 21st. Finally, TD Cowen upgraded Arthur J. Gallagher & Co. from a “hold” rating to a “buy” rating and upped their price target for the stock from $295.00 to $377.00 in a research note on Friday, January 10th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Arthur J. Gallagher & Co. currently has an average rating of “Hold” and an average price target of $307.93.

Insider Activity

In other news, Director David S. Johnson sold 325 shares of the stock in a transaction on Wednesday, February 12th. The stock was sold at an average price of $322.06, for a total transaction of $104,669.50. Following the transaction, the director now directly owns 44,783 shares of the company’s stock, valued at $14,422,812.98. This represents a 0.72 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Sherry S. Barrat sold 2,500 shares of the company’s stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $304.33, for a total value of $760,825.00. Following the completion of the sale, the director now owns 16,533 shares of the company’s stock, valued at $5,031,487.89. This trade represents a 13.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 15,725 shares of company stock valued at $4,972,964 in the last ninety days. 1.60% of the stock is currently owned by company insiders.

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