Eventide Asset Management LLC lowered its holdings in shares of Arthur J. Gallagher & Co. (NYSE:AJG – Free Report) by 35.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 139,874 shares of the financial services provider’s stock after selling 76,819 shares during the period. Eventide Asset Management LLC owned approximately 0.05% of Arthur J. Gallagher & Co. worth $36,244,000 at the end of the most recent reporting period.
Several other large investors have also recently made changes to their positions in the business. Brasada Capital Management LP lifted its holdings in shares of Arthur J. Gallagher & Co. by 5.4% during the fourth quarter. Brasada Capital Management LP now owns 14,020 shares of the financial services provider’s stock valued at $3,589,000 after purchasing an additional 718 shares during the last quarter. Aigen Investment Management LP purchased a new position in shares of Arthur J. Gallagher & Co. during the fourth quarter valued at approximately $759,000. Aptus Capital Advisors LLC lifted its holdings in shares of Arthur J. Gallagher & Co. by 2.9% during the fourth quarter. Aptus Capital Advisors LLC now owns 5,087 shares of the financial services provider’s stock valued at $1,316,000 after purchasing an additional 141 shares during the last quarter. Arete Wealth Advisors LLC lifted its holdings in shares of Arthur J. Gallagher & Co. by 26.7% during the fourth quarter. Arete Wealth Advisors LLC now owns 4,396 shares of the financial services provider’s stock valued at $1,138,000 after purchasing an additional 927 shares during the last quarter. Finally, Jacobi Capital Management LLC lifted its holdings in shares of Arthur J. Gallagher & Co. by 83.1% during the fourth quarter. Jacobi Capital Management LLC now owns 1,741 shares of the financial services provider’s stock valued at $450,000 after purchasing an additional 790 shares during the last quarter. 85.53% of the stock is currently owned by hedge funds and other institutional investors.
Arthur J. Gallagher & Co. Stock Down 1.1%
AJG opened at $218.53 on Friday. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.51. The firm has a 50 day moving average price of $210.97 and a 200-day moving average price of $228.06. Arthur J. Gallagher & Co. has a twelve month low of $190.75 and a twelve month high of $327.34. The stock has a market capitalization of $56.14 billion, a price-to-earnings ratio of 35.36, a PEG ratio of 1.11 and a beta of 0.52.
Arthur J. Gallagher & Co. Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Friday, June 19th. Investors of record on Friday, June 5th will be given a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 1.3%. The ex-dividend date is Friday, June 5th. Arthur J. Gallagher & Co.’s payout ratio is 45.31%.
Analyst Ratings Changes
AJG has been the subject of several recent research reports. Truist Financial lowered their target price on shares of Arthur J. Gallagher & Co. from $235.00 to $225.00 and set a “hold” rating for the company in a report on Friday, May 1st. Citigroup raised shares of Arthur J. Gallagher & Co. from a “neutral” rating to a “buy” rating and decreased their target price for the stock from $280.00 to $250.00 in a report on Wednesday, May 6th. Barclays lifted their target price on shares of Arthur J. Gallagher & Co. from $262.00 to $275.00 and gave the stock an “overweight” rating in a report on Wednesday, April 8th. Wall Street Zen raised shares of Arthur J. Gallagher & Co. from a “sell” rating to a “hold” rating in a report on Saturday, February 21st. Finally, Mizuho decreased their target price on shares of Arthur J. Gallagher & Co. from $260.00 to $259.00 and set an “outperform” rating for the company in a report on Monday, April 13th. Thirteen equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $263.71.
Get Our Latest Stock Analysis on AJG
Insider Transactions at Arthur J. Gallagher & Co.
In related news, CAO Richard C. Cary sold 3,000 shares of the business’s stock in a transaction that occurred on Tuesday, June 2nd. The shares were sold at an average price of $206.00, for a total transaction of $618,000.00. Following the completion of the sale, the chief accounting officer directly owned 47,819 shares in the company, valued at approximately $9,850,714. The trade was a 5.90% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 1.40% of the company’s stock.
Arthur J. Gallagher & Co. Profile
Arthur J. Gallagher & Co is a global insurance brokerage and risk management firm headquartered in Rolling Meadows, Illinois. Founded in 1927 by Arthur J. Gallagher, the company has grown from a regional broker into an international professional services organization that arranges insurance, provides consulting and designs risk-transfer solutions for commercial, industrial, public sector and individual clients.
The company’s core activities include property and casualty insurance brokerage, employee benefits consulting and administration, and a range of risk management services.
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