Summit Investment Advisors Inc. Purchases 224 Shares of Arthur J. Gallagher & Co. (NYSE:AJG)

Summit Investment Advisors Inc. grew its position in shares of Arthur J. Gallagher & Co. (NYSE:AJG) by 10.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,443 shares of the financial services provider’s stock after acquiring an additional 224 shares during the period. Summit Investment Advisors Inc.’s holdings in Arthur J. Gallagher & Co. were worth $693,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of AJG. Wealth Enhancement Advisory Services LLC increased its holdings 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 period. Principal Financial Group Inc. grew its position in shares of Arthur J. Gallagher & Co. by 231.2% in the 3rd 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 during the last quarter. Running Oak Capital LLC increased its stake in shares of 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 buying an additional 3,983 shares during the period. Nordea Investment Management AB lifted its stake in Arthur J. Gallagher & Co. by 16.7% in the fourth quarter. Nordea Investment Management AB now owns 22,436 shares of the financial services provider’s stock worth $6,381,000 after acquiring an additional 3,217 shares during the period. Finally, Campbell Newman Asset Management Inc. boosted its holdings in Arthur J. Gallagher & Co. by 13.9% in the fourth quarter. Campbell Newman Asset Management Inc. now owns 141,163 shares of the financial services provider’s stock valued at $40,069,000 after acquiring an additional 17,196 shares in the last quarter. 85.53% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have commented on AJG shares. Jefferies Financial Group decreased their price objective on shares of Arthur J. Gallagher & Co. from $266.00 to $265.00 and set a “hold” rating for the company in a report on Friday, April 11th. Wells Fargo & Company raised their price objective on shares of Arthur J. Gallagher & Co. from $370.00 to $372.00 and gave the stock an “overweight” rating in a report on Thursday, April 10th. Barclays upped their target price on Arthur J. Gallagher & Co. from $308.00 to $346.00 and gave the stock an “equal weight” rating in a report on Friday, April 11th. Truist Financial raised their target price on Arthur J. Gallagher & Co. from $275.00 to $290.00 and gave the company a “hold” rating in a research note on Friday, January 31st. Finally, Redburn Atlantic assumed coverage on Arthur J. Gallagher & Co. in a research note on Tuesday, March 25th. They issued a “neutral” rating and a $352.00 price target on the stock. 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 stock has an average rating of “Hold” and an average price target of $315.27.

Insider Activity at Arthur J. Gallagher & Co.

In related news, VP Christopher E. Mead sold 2,900 shares of the firm’s stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $302.61, for a total value of $877,569.00. Following the sale, the vice president now owns 14,674 shares in the company, valued at approximately $4,440,499.14. This trade represents a 16.50 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CAO Richard C. Cary sold 10,000 shares of Arthur J. Gallagher & Co. stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $322.99, for a total transaction 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 approximately $22,536,304.26. This trade represents a 12.54 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 23,235 shares of company stock valued at $7,478,224 over the last ninety days. Insiders own 1.30% of the company’s stock.

Arthur J. Gallagher & Co. Stock Down 1.0 %

NYSE:AJG opened at $329.29 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. The firm has a market cap of $84.21 billion, a P/E ratio of 50.50 and a beta of 0.64. Arthur J. Gallagher & Co. has a fifty-two week low of $232.27 and a fifty-two week high of $350.70. The firm has a 50-day simple moving average of $330.37 and a two-hundred day simple moving average of $305.82.

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 the consensus estimate 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%. Analysts predict that Arthur J. Gallagher & Co. will post 11.54 earnings per share for the current fiscal year.

Arthur J. Gallagher & Co. Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 21st. Stockholders of record on Friday, March 7th were issued a dividend of $0.65 per share. 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 0.79%. The ex-dividend date of this dividend was Friday, March 7th. 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.