Arthur J. Gallagher & Co. (NYSE:AJG) Shares Bought by Ellevest Inc.

Ellevest Inc. grew its stake in shares of Arthur J. Gallagher & Co. (NYSE:AJG) by 23.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,703 shares of the financial services provider’s stock after acquiring an additional 326 shares during the quarter. Ellevest Inc.’s holdings in Arthur J. Gallagher & Co. were worth $483,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of AJG. Norges Bank purchased a new position in shares of Arthur J. Gallagher & Co. in the fourth quarter worth $1,421,591,000. Vanguard Group Inc. lifted its position 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 worth $8,422,435,000 after acquiring an additional 3,851,661 shares during the period. Winslow Capital Management LLC purchased a new stake in Arthur J. Gallagher & Co. during the 4th quarter valued at about $719,489,000. Capital World Investors raised its stake in shares of Arthur J. Gallagher & Co. by 30.4% in the fourth quarter. Capital World Investors now owns 8,199,413 shares of the financial services provider’s stock worth $2,327,403,000 after purchasing an additional 1,910,471 shares during the last quarter. Finally, Wellington Management Group LLP lifted its holdings in shares of Arthur J. Gallagher & Co. by 162.0% during the fourth 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 during the period. 85.53% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have commented on AJG. Wells Fargo & Company lifted their price objective on shares of Arthur J. Gallagher & Co. from $370.00 to $372.00 and gave the company an “overweight” rating in a research note on Thursday, April 10th. Truist Financial upped their price target on shares of Arthur J. Gallagher & Co. from $275.00 to $290.00 and gave the company a “hold” rating in a report on Friday, January 31st. Barclays boosted their price objective on Arthur J. Gallagher & Co. from $308.00 to $346.00 and gave the company an “equal weight” rating in a report on Friday, April 11th. Royal Bank of Canada lifted their price target on Arthur J. Gallagher & Co. from $320.00 to $340.00 and gave the company an “outperform” rating in a research report on Friday, January 31st. Finally, TD Cowen raised shares of Arthur J. Gallagher & Co. from a “hold” rating to a “buy” rating and raised their price objective for the stock from $295.00 to $377.00 in a research note on Friday, January 10th. 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 stock. Based on data from MarketBeat.com, Arthur J. Gallagher & Co. has a consensus rating of “Hold” and an average target price of $315.33.

Insiders Place Their Bets

In other Arthur J. Gallagher & Co. news, Director David S. Johnson sold 325 shares of Arthur J. Gallagher & Co. stock in a transaction dated Wednesday, February 12th. The shares were 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. The trade was a 0.72 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Scott R. Hudson sold 7,510 shares of the stock in a transaction that occurred on Friday, March 21st. The shares were sold at an average price of $333.59, for a total transaction of $2,505,260.90. Following the completion of the sale, the vice president now directly owns 90,020 shares of the company’s stock, valued at approximately $30,029,771.80. This trade represents a 7.70 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 17,835 shares of company stock valued at $5,839,830. Insiders own 1.60% of the company’s stock.

Arthur J. Gallagher & Co. Stock Up 0.1 %

NYSE AJG opened at $338.67 on Friday. Arthur J. Gallagher & Co. has a one year low of $244.60 and a one year high of $350.70. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.51 and a current ratio of 1.51. The business has a fifty day moving average price of $330.37 and a 200 day moving average price of $309.99. The company has a market cap of $86.61 billion, a P/E ratio of 51.94 and a beta of 0.78.

Arthur J. Gallagher & Co. (NYSE:AJG) last posted its quarterly earnings results on Thursday, May 1st. The financial services provider reported $3.67 earnings per share for the quarter, topping analysts’ consensus estimates of $3.57 by $0.10. The firm had revenue of $3.69 billion for the quarter, compared to analyst estimates of $3.85 billion. Arthur J. Gallagher & Co. had a net margin of 12.70% and a return on equity of 16.47%. Arthur J. Gallagher & Co.’s quarterly revenue was up 14.5% on a year-over-year basis. During the same period in the previous year, the business posted $3.45 earnings per share. Research analysts anticipate that Arthur J. Gallagher & Co. will post 11.54 EPS for the current fiscal year.

Arthur J. Gallagher & Co. Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 20th. Investors of record on Friday, June 6th will be given a dividend of $0.65 per share. The ex-dividend date is Friday, June 6th. This represents a $2.60 dividend on an annualized basis and a yield of 0.77%. Arthur J. Gallagher & Co.’s payout ratio is 37.63%.

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.