Envestnet Asset Management Inc. Has $419.55 Million Holdings in Arthur J. Gallagher & Co. (NYSE:AJG)

Envestnet Asset Management Inc. raised its stake in shares of Arthur J. Gallagher & Co. (NYSE:AJG) by 4.0% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 1,478,054 shares of the financial services provider’s stock after acquiring an additional 56,804 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Arthur J. Gallagher & Co. were worth $419,546,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in AJG. Catalina Capital Group LLC raised its stake in shares of Arthur J. Gallagher & Co. by 1.0% in the 4th quarter. Catalina Capital Group LLC now owns 3,380 shares of the financial services provider’s stock valued at $959,000 after acquiring an additional 35 shares in the last quarter. Greenleaf Trust raised its position in shares of Arthur J. Gallagher & Co. by 1.1% in the fourth quarter. Greenleaf Trust now owns 3,310 shares of the financial services provider’s stock valued at $940,000 after purchasing an additional 36 shares during the period. HBK Sorce Advisory LLC lifted its stake in shares of Arthur J. Gallagher & Co. by 3.2% in the fourth quarter. HBK Sorce Advisory LLC now owns 1,173 shares of the financial services provider’s stock worth $333,000 after buying an additional 36 shares during the last quarter. Brendel Financial Advisors LLC grew its stake in Arthur J. Gallagher & Co. by 0.5% in the 4th quarter. Brendel Financial Advisors LLC now owns 7,237 shares of the financial services provider’s stock valued at $2,054,000 after buying an additional 38 shares during the last quarter. Finally, Tucker Asset Management LLC raised its holdings in Arthur J. Gallagher & Co. by 3.0% in the 4th quarter. Tucker Asset Management LLC now owns 1,419 shares of the financial services provider’s stock worth $403,000 after acquiring an additional 41 shares during the period. Institutional investors and hedge funds own 85.53% of the company’s stock.

Arthur J. Gallagher & Co. Trading Down 7.4 %

AJG stock opened at $318.97 on Friday. Arthur J. Gallagher & Co. has a 1-year low of $230.08 and a 1-year high of $350.70. The company has a current ratio of 1.51, a quick ratio of 1.51 and a debt-to-equity ratio of 0.63. The business’s 50 day moving average is $326.40 and its 200-day moving average is $302.45. The firm has a market cap of $81.57 billion, a P/E ratio of 48.92 and a beta of 0.75.

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, beating analysts’ consensus estimates 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%. Equities analysts anticipate 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 was paid on Friday, March 21st. Shareholders of record on Friday, March 7th were given a $0.65 dividend. The ex-dividend date was Friday, March 7th. This is a positive change from Arthur J. Gallagher & Co.’s previous quarterly dividend of $0.60. This represents a $2.60 dividend on an annualized basis and a yield of 0.82%. Arthur J. Gallagher & Co.’s payout ratio is 39.88%.

Analysts Set New Price Targets

AJG has been the topic of several research analyst reports. Redburn Atlantic started coverage on Arthur J. Gallagher & Co. in a research report on Tuesday, March 25th. They issued a “neutral” rating and a $352.00 price target on the stock. 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 report on Friday, January 10th. Truist Financial raised their price objective on shares of Arthur J. Gallagher & Co. from $275.00 to $290.00 and gave the stock a “hold” rating in a research note on Friday, January 31st. Piper Sandler upgraded shares of Arthur J. Gallagher & Co. from a “neutral” rating to an “overweight” rating and upped their target price for the company from $285.00 to $315.00 in a research note on Wednesday, January 8th. Finally, Keefe, Bruyette & Woods raised their price target on shares of Arthur J. Gallagher & Co. from $308.00 to $314.00 and gave the stock a “market perform” rating in a research report on Friday, March 21st. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $313.20.

Insiders Place Their Bets

In other Arthur J. Gallagher & Co. news, CAO Richard C. Cary sold 10,000 shares of the business’s stock in a transaction on Monday, February 10th. The stock was sold at an average price of $322.99, for a total value of $3,229,900.00. Following the transaction, the chief accounting officer now owns 69,774 shares of the company’s stock, valued at approximately $22,536,304.26. The trade was a 12.54 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director David S. Johnson sold 325 shares of the firm’s stock in a transaction on Wednesday, February 12th. The shares were sold at an average price of $322.06, for a total value of $104,669.50. Following the completion of the sale, the director now owns 44,783 shares of the company’s stock, valued at approximately $14,422,812.98. This trade represents a 0.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 23,235 shares of company stock valued at $7,478,224. 1.60% of the stock is currently owned by insiders.

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