Harbor Advisors LLC Purchases 1,875 Shares of Arthur J. Gallagher & Co. (NYSE:AJG)

Harbor Advisors LLC boosted its position in shares of Arthur J. Gallagher & Co. (NYSE:AJG) by 28.8% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 8,375 shares of the financial services provider’s stock after acquiring an additional 1,875 shares during the period. Harbor Advisors LLC’s holdings in Arthur J. Gallagher & Co. were worth $2,377,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Valley National Advisers Inc. bought a new stake in Arthur J. Gallagher & Co. during the 4th quarter worth approximately $25,000. Pin Oak Investment Advisors Inc. lifted 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 buying an additional 87 shares in the last quarter. MRP Capital Investments LLC purchased a new position in shares of Arthur J. Gallagher & Co. in the fourth quarter worth $28,000. E Fund Management Hong Kong Co. Ltd. purchased a new position in shares of Arthur J. Gallagher & Co. in the fourth quarter worth $35,000. Finally, Financial Life Planners purchased a new position in shares of Arthur J. Gallagher & Co. in the fourth quarter worth $36,000. Institutional investors own 85.53% of the company’s stock.

Insider Transactions at Arthur J. Gallagher & Co.

In related news, CAO Richard C. Cary sold 10,000 shares of the company’s stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $322.99, for a total value of $3,229,900.00. Following the completion of the sale, the chief accounting officer now directly owns 69,774 shares of the company’s stock, valued at $22,536,304.26. This represents a 12.54 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Scott R. Hudson sold 7,510 shares of the company’s stock in a transaction dated Friday, March 21st. The stock was 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 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 worth $7,478,224. Insiders own 1.60% of the company’s stock.

Analysts Set New Price Targets

AJG has been the topic of several research analyst reports. Wells Fargo & Company boosted their target price on shares of Arthur J. Gallagher & Co. from $341.00 to $370.00 and gave the stock an “overweight” rating in a report on Friday. Royal Bank of Canada boosted their target price on shares of Arthur J. Gallagher & Co. from $320.00 to $340.00 and gave the stock an “outperform” rating in a report on Friday, January 31st. Keefe, Bruyette & Woods boosted their target price on shares of Arthur J. Gallagher & Co. from $308.00 to $314.00 and gave the stock a “market perform” rating in a report on Friday. Truist Financial boosted their price target on shares of Arthur J. Gallagher & Co. from $275.00 to $290.00 and gave the stock a “hold” rating in a research report on Friday, January 31st. Finally, The Goldman Sachs Group cut shares of 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 report on Monday, November 25th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, Arthur J. Gallagher & Co. presently has a consensus rating of “Hold” and an average target price of $310.43.

Arthur J. Gallagher & Co. Trading Down 0.7 %

AJG stock opened at $332.02 on Friday. The company has a quick ratio of 1.51, a current ratio of 1.51 and a debt-to-equity ratio of 0.63. Arthur J. Gallagher & Co. has a twelve month low of $230.08 and a twelve month high of $345.43. The stock has a market capitalization of $84.57 billion, a price-to-earnings ratio of 50.92 and a beta of 0.75. The firm’s fifty day simple moving average is $316.96 and its two-hundred day simple moving average is $299.50.

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

Arthur J. Gallagher & Co. Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 21st. Stockholders of record on Friday, March 7th were issued a $0.65 dividend. The ex-dividend date of this dividend was Friday, March 7th. This is a boost from Arthur J. Gallagher & Co.’s previous quarterly dividend of $0.60. This represents a $2.60 dividend on an annualized basis and a dividend yield of 0.78%. Arthur J. Gallagher & Co.’s dividend payout ratio is presently 39.88%.

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.