Sitrin Capital Management LLC Has $4.88 Million Stock Position in Arthur J. Gallagher & Co. (NYSE:AJG)

Sitrin Capital Management LLC cut its holdings in shares of Arthur J. Gallagher & Co. (NYSE:AJG) by 2.0% in the fourth quarter, Holdings Channel reports. The institutional investor owned 17,202 shares of the financial services provider’s stock after selling 355 shares during the quarter. Arthur J. Gallagher & Co. accounts for about 2.5% of Sitrin Capital Management LLC’s portfolio, making the stock its 21st biggest holding. Sitrin Capital Management LLC’s holdings in Arthur J. Gallagher & Co. were worth $4,883,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Wealth Enhancement Advisory Services LLC raised its stake in Arthur J. Gallagher & Co. by 21.2% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 67,146 shares of the financial services provider’s stock valued at $18,893,000 after purchasing an additional 11,752 shares during the last quarter. DekaBank Deutsche Girozentrale raised its position in shares of Arthur J. Gallagher & Co. by 15.7% during the third quarter. DekaBank Deutsche Girozentrale now owns 109,639 shares of the financial services provider’s stock valued at $30,450,000 after buying an additional 14,860 shares during the last quarter. Principal Financial Group Inc. grew its position in Arthur J. Gallagher & Co. by 231.2% during the third quarter. Principal Financial Group Inc. now owns 885,796 shares of the financial services provider’s stock worth $249,237,000 after buying an additional 618,362 shares in the last quarter. Running Oak Capital LLC increased its stake in Arthur J. Gallagher & Co. by 8.9% during the fourth quarter. Running Oak Capital LLC now owns 48,722 shares of the financial services provider’s stock valued at $13,830,000 after acquiring an additional 3,983 shares during the period. Finally, MML Investors Services LLC raised its holdings in Arthur J. Gallagher & Co. by 1.2% in the 3rd quarter. MML Investors Services LLC now owns 183,857 shares of the financial services provider’s stock valued at $51,732,000 after acquiring an additional 2,092 shares in the last quarter. 85.53% of the stock is owned by institutional investors.

Insider Transactions at Arthur J. Gallagher & Co.

In related news, Director Sherry S. Barrat sold 2,500 shares of Arthur J. Gallagher & Co. stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $304.33, for a total value of $760,825.00. Following the completion of the sale, the director now directly owns 16,533 shares in the company, valued at $5,031,487.89. This trade represents a 13.14 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Christopher E. Mead sold 2,900 shares of the company’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $302.61, for a total transaction of $877,569.00. Following the transaction, the vice president now owns 14,674 shares in the company, valued at approximately $4,440,499.14. The trade was a 16.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 15,725 shares of company stock worth $4,972,964. Corporate insiders own 1.60% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on AJG. Piper Sandler raised Arthur J. Gallagher & Co. from a “neutral” rating to an “overweight” rating and lifted their price objective for the stock from $285.00 to $315.00 in a report on Wednesday, January 8th. Truist Financial boosted 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. 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 report on Friday, January 10th. Keefe, Bruyette & Woods upped their target price on shares of Arthur J. Gallagher & Co. from $286.00 to $295.00 and gave the company a “market perform” rating in a research note on Friday, January 31st. Finally, Royal Bank of Canada raised their price target on shares of Arthur J. Gallagher & Co. from $320.00 to $340.00 and gave the stock an “outperform” rating in a research note on Friday, January 31st. Two analysts have rated the stock with a sell rating, six have given a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $307.00.

Arthur J. Gallagher & Co. Trading Up 1.1 %

AJG stock opened at $332.06 on Wednesday. The business has a fifty day moving average price of $299.78 and a 200 day moving average price of $294.16. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.51 and a quick ratio of 1.51. Arthur J. Gallagher & Co. has a fifty-two week low of $230.08 and a fifty-two week high of $332.69. The stock has a market capitalization of $84.57 billion, a price-to-earnings ratio of 50.93 and a beta of 0.77.

Arthur J. Gallagher & Co. (NYSE:AJG) last announced its 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%. Analysts expect that Arthur J. Gallagher & Co. will post 11.54 EPS for the current fiscal year.

Arthur J. Gallagher & Co. Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 21st. Shareholders of record on Friday, March 7th will be paid a $0.65 dividend. The ex-dividend date is Friday, March 7th. This is an increase 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 payout ratio is currently 36.81%.

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