K.J. Harrison & Partners Inc Takes $1.64 Million Position in Arthur J. Gallagher & Co. (NYSE:AJG)

K.J. Harrison & Partners Inc acquired a new position in shares of Arthur J. Gallagher & Co. (NYSE:AJG) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 7,300 shares of the financial services provider’s stock, valued at approximately $1,642,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of AJG. Bryn Mawr Capital Management LLC acquired a new stake in shares of Arthur J. Gallagher & Co. in the fourth quarter valued at approximately $421,000. Bank Julius Baer & Co. Ltd Zurich lifted its position in Arthur J. Gallagher & Co. by 3.2% during the 4th quarter. Bank Julius Baer & Co. Ltd Zurich now owns 369,256 shares of the financial services provider’s stock worth $83,038,000 after buying an additional 11,282 shares in the last quarter. Stevens Capital Management LP acquired a new position in shares of Arthur J. Gallagher & Co. during the 4th quarter worth about $543,000. Tokio Marine Asset Management Co. Ltd. grew its holdings in shares of Arthur J. Gallagher & Co. by 10.7% in the 4th quarter. Tokio Marine Asset Management Co. Ltd. now owns 5,301 shares of the financial services provider’s stock valued at $1,192,000 after acquiring an additional 514 shares in the last quarter. Finally, Atria Wealth Solutions Inc. increased its position in shares of Arthur J. Gallagher & Co. by 7.7% in the fourth quarter. Atria Wealth Solutions Inc. now owns 11,999 shares of the financial services provider’s stock valued at $2,698,000 after acquiring an additional 859 shares during the last quarter. Institutional investors and hedge funds own 85.53% of the company’s stock.

Arthur J. Gallagher & Co. Stock Performance

Shares of AJG traded down $2.89 during midday trading on Friday, reaching $234.06. 1,404,182 shares of the stock were exchanged, compared to its average volume of 873,834. Arthur J. Gallagher & Co. has a twelve month low of $198.52 and a twelve month high of $256.10. The company has a market cap of $51.10 billion, a P/E ratio of 52.72, a PEG ratio of 2.23 and a beta of 0.68. The stock’s 50 day simple moving average is $244.23 and its 200 day simple moving average is $238.93. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.65.

Arthur J. Gallagher & Co. (NYSE:AJG) last announced its earnings results on Thursday, January 25th. The financial services provider reported $1.85 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.83 by $0.02. The firm had revenue of $2.39 billion for the quarter, compared to analyst estimates of $2.40 billion. Arthur J. Gallagher & Co. had a net margin of 9.63% and a return on equity of 18.49%. During the same quarter in the prior year, the business posted $1.54 EPS. On average, sell-side analysts expect that Arthur J. Gallagher & Co. will post 10.06 earnings per share for the current year.

Arthur J. Gallagher & Co. Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, June 21st. Shareholders of record on Friday, June 7th will be issued a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 1.03%. The ex-dividend date of this dividend is Friday, June 7th. Arthur J. Gallagher & Co.’s dividend payout ratio is currently 54.05%.

Insider Activity

In other Arthur J. Gallagher & Co. news, Director David S. Johnson sold 500 shares of the company’s stock in a transaction on Tuesday, February 6th. The stock was sold at an average price of $234.04, for a total transaction of $117,020.00. Following the completion of the sale, the director now directly owns 45,038 shares in the company, valued at $10,540,693.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, VP Thomas Joseph Gallagher sold 12,309 shares of the business’s stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $237.65, for a total transaction of $2,925,233.85. Following the sale, the vice president now owns 322,797 shares in the company, valued at approximately $76,712,707.05. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director David S. Johnson sold 500 shares of the company’s stock in a transaction dated Tuesday, February 6th. The stock was sold at an average price of $234.04, for a total value of $117,020.00. Following the completion of the transaction, the director now directly owns 45,038 shares of the company’s stock, valued at approximately $10,540,693.52. The disclosure for this sale can be found here. In the last ninety days, insiders sold 29,016 shares of company stock worth $7,176,180. 1.60% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

AJG has been the subject of a number of analyst reports. TD Cowen raised their price target on Arthur J. Gallagher & Co. from $249.00 to $273.00 and gave the company a “hold” rating in a research note on Tuesday, April 2nd. Royal Bank of Canada increased their price target on shares of Arthur J. Gallagher & Co. from $270.00 to $282.00 and gave the company an “outperform” rating in a research note on Friday, March 22nd. Truist Financial restated a “hold” rating and set a $255.00 price objective (down from $280.00) on shares of Arthur J. Gallagher & Co. in a research note on Wednesday, April 10th. Keefe, Bruyette & Woods cut their target price on shares of Arthur J. Gallagher & Co. from $246.00 to $240.00 and set an “underperform” rating for the company in a research note on Wednesday, April 10th. Finally, Jefferies Financial Group downgraded Arthur J. Gallagher & Co. from a “buy” rating to a “hold” rating and lowered their price target for the stock from $279.00 to $233.00 in a research report on Tuesday, January 9th. One analyst has rated the stock with a sell rating, six have given a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $255.23.

Arthur J. Gallagher & Co. Company Profile

Arthur J. Gallagher & Co, together with its subsidiaries, provides insurance and reinsurance brokerage, consulting, and third-party property/casualty claims settlement and administration services to entities and individuals worldwide. It operates in Brokerage and Risk Management segments. The Brokerage segment offers retail and wholesale insurance and reinsurance brokerage services; assists retail brokers and other non-affiliated brokers in the placement of specialized and hard-to-place insurance; and acts as a brokerage wholesaler, managing general agent, and managing general underwriter for distributing specialized insurance coverages to underwriting enterprises.