Huntington National Bank Boosts Stock Position in Arthur J. Gallagher & Co. (NYSE:AJG)

Huntington National Bank raised its position in shares of Arthur J. Gallagher & Co. (NYSE:AJG) by 12.9% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 1,693 shares of the financial services provider’s stock after buying an additional 193 shares during the period. Huntington National Bank’s holdings in Arthur J. Gallagher & Co. were worth $481,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Centiva Capital LP acquired a new stake in Arthur J. Gallagher & Co. in the third quarter valued at approximately $582,000. HighTower Advisors LLC boosted its position in shares of Arthur J. Gallagher & Co. by 1.4% in the 3rd quarter. HighTower Advisors LLC now owns 56,672 shares of the financial services provider’s stock worth $15,980,000 after purchasing an additional 789 shares in the last quarter. IHT Wealth Management LLC purchased a new position in Arthur J. Gallagher & Co. during the 3rd quarter worth $272,000. Royal London Asset Management Ltd. increased its position in Arthur J. Gallagher & Co. by 45.4% during the 3rd quarter. Royal London Asset Management Ltd. now owns 125,644 shares of the financial services provider’s stock valued at $35,352,000 after buying an additional 39,243 shares in the last quarter. Finally, Quarry LP raised its stake in Arthur J. Gallagher & Co. by 475.5% in the third quarter. Quarry LP now owns 633 shares of the financial services provider’s stock valued at $178,000 after buying an additional 523 shares during the last quarter. 85.53% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

AJG has been the topic of several recent analyst reports. Truist Financial upped their price objective 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. TD Cowen raised shares of Arthur J. Gallagher & Co. from a “hold” rating to a “buy” rating and raised their price target for the stock from $295.00 to $377.00 in a report on Friday, January 10th. Wells Fargo & Company boosted their price objective on shares of Arthur J. Gallagher & Co. from $341.00 to $370.00 and gave the company an “overweight” rating in a report on Friday, March 21st. Keefe, Bruyette & Woods increased their price objective on Arthur J. Gallagher & Co. from $308.00 to $314.00 and gave the company a “market perform” rating in a report on Friday, March 21st. Finally, Piper Sandler upgraded 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 report on Wednesday, January 8th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $313.20.

Arthur J. Gallagher & Co. Stock Down 7.4 %

AJG stock opened at $318.97 on Friday. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.51 and a current ratio of 1.51. Arthur J. Gallagher & Co. has a one year low of $230.08 and a one year high of $350.70. The firm’s fifty day moving average is $326.40 and its 200 day moving average is $302.40. The firm has a market cap of $81.57 billion, a PE ratio of 48.92 and a beta of 0.75.

Arthur J. Gallagher & Co. (NYSE:AJG) last issued its quarterly earnings data on Thursday, January 30th. The financial services provider reported $2.13 EPS 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%. On average, research analysts forecast that Arthur J. Gallagher & Co. will post 11.54 EPS for the current year.

Arthur J. Gallagher & Co. Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 21st. Stockholders of record on Friday, March 7th were given a $0.65 dividend. This is a positive change from Arthur J. Gallagher & Co.’s previous quarterly dividend of $0.60. The ex-dividend date of this dividend was Friday, March 7th. This represents a $2.60 annualized dividend and a dividend yield of 0.82%. Arthur J. Gallagher & Co.’s dividend payout ratio (DPR) is 39.88%.

Insider Transactions at Arthur J. Gallagher & Co.

In related news, VP Scott R. Hudson sold 7,510 shares of Arthur J. Gallagher & Co. stock in a transaction dated Friday, March 21st. The stock was sold at an average price of $333.59, for a total value of $2,505,260.90. Following the sale, the vice president now directly owns 90,020 shares in the company, valued at approximately $30,029,771.80. The trade was a 7.70 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CAO Richard C. Cary sold 10,000 shares of the stock in a transaction that occurred on 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 transaction, the chief accounting officer now directly owns 69,774 shares of the company’s stock, valued at $22,536,304.26. The trade was a 12.54 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 23,235 shares of company stock valued at $7,478,224 over the last 90 days. Corporate insiders own 1.60% of the company’s stock.

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.