Arthur J. Gallagher & Co. (NYSE:AJG) Position Increased by Mackenzie Financial Corp

Mackenzie Financial Corp increased its position in shares of Arthur J. Gallagher & Co. (NYSE:AJG) by 16.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 112,087 shares of the financial services provider’s stock after acquiring an additional 15,528 shares during the period. Mackenzie Financial Corp’s holdings in Arthur J. Gallagher & Co. were worth $25,206,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Norges Bank bought a new position in Arthur J. Gallagher & Co. during the fourth quarter valued at about $1,431,788,000. FMR LLC raised its holdings in Arthur J. Gallagher & Co. by 8.1% during the third quarter. FMR LLC now owns 9,664,117 shares of the financial services provider’s stock valued at $2,202,742,000 after buying an additional 726,485 shares in the last quarter. Morgan Stanley raised its holdings in Arthur J. Gallagher & Co. by 40.6% during the fourth quarter. Morgan Stanley now owns 2,143,144 shares of the financial services provider’s stock valued at $404,069,000 after buying an additional 619,008 shares in the last quarter. Bank Julius Baer & Co. Ltd Zurich raised its holdings in Arthur J. Gallagher & Co. by 36,168.9% during the third quarter. Bank Julius Baer & Co. Ltd Zurich now owns 357,974 shares of the financial services provider’s stock valued at $81,593,000 after buying an additional 356,987 shares in the last quarter. Finally, Congress Asset Management Co. MA raised its holdings in Arthur J. Gallagher & Co. by 7,923.4% during the third quarter. Congress Asset Management Co. MA now owns 298,871 shares of the financial services provider’s stock valued at $68,122,000 after buying an additional 295,146 shares in the last quarter. 85.53% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Arthur J. Gallagher & Co.

In other Arthur J. Gallagher & Co. news, VP Scott R. Hudson sold 15,000 shares of Arthur J. Gallagher & Co. stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of $255.06, for a total transaction of $3,825,900.00. Following the sale, the vice president now directly owns 96,709 shares of the company’s stock, valued at $24,666,597.54. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Arthur J. Gallagher & Co. news, VP Scott R. Hudson sold 15,000 shares of Arthur J. Gallagher & Co. stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of $255.06, for a total transaction of $3,825,900.00. Following the sale, the vice president now directly owns 96,709 shares of the company’s stock, valued at $24,666,597.54. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Thomas Joseph Gallagher sold 12,309 shares of Arthur J. Gallagher & Co. stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $237.65, for a total value of $2,925,233.85. Following the sale, the vice president now directly owns 322,797 shares in the company, valued at $76,712,707.05. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 29,016 shares of company stock valued at $7,176,180. 1.60% of the stock is currently owned by corporate insiders.

Arthur J. Gallagher & Co. Stock Down 0.4 %

AJG stock opened at $230.52 on Thursday. Arthur J. Gallagher & Co. has a twelve month low of $198.52 and a twelve month high of $256.10. The company has a market cap of $50.32 billion, a PE ratio of 51.92, a price-to-earnings-growth ratio of 2.18 and a beta of 0.68. The business’s 50-day simple moving average is $244.49 and its 200 day simple moving average is $238.64. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.65.

Arthur J. Gallagher & Co. (NYSE:AJG) last released its earnings results on Thursday, January 25th. The financial services provider reported $1.85 earnings per share for the quarter, topping analysts’ consensus estimates of $1.83 by $0.02. Arthur J. Gallagher & Co. had a return on equity of 18.49% and a net margin of 9.63%. The business had revenue of $2.39 billion for the quarter, compared to the consensus estimate of $2.40 billion. During the same period last year, the business earned $1.54 earnings per share. On average, research analysts anticipate that Arthur J. Gallagher & Co. will post 10.06 earnings per share for the current year.

Arthur J. Gallagher & Co. Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Friday, March 1st were given a dividend of $0.60 per share. The ex-dividend date of this dividend was Thursday, February 29th. This is an increase from Arthur J. Gallagher & Co.’s previous quarterly dividend of $0.55. This represents a $2.40 dividend on an annualized basis and a yield of 1.04%. Arthur J. Gallagher & Co.’s dividend payout ratio (DPR) is 54.05%.

Analysts Set New Price Targets

Several equities analysts have weighed in on AJG shares. TD Cowen raised their target price on Arthur J. Gallagher & Co. from $249.00 to $273.00 and gave the company a “hold” rating in a report on Tuesday, April 2nd. Truist Financial restated a “hold” rating and set a $255.00 target price (down from $280.00) on shares of Arthur J. Gallagher & Co. in a report on Wednesday, April 10th. Royal Bank of Canada lifted their price objective on Arthur J. Gallagher & Co. from $270.00 to $282.00 and gave the stock an “outperform” rating in a research note on Friday, March 22nd. Jefferies Financial Group lowered Arthur J. Gallagher & Co. from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $279.00 to $233.00 in a research note on Tuesday, January 9th. Finally, Keefe, Bruyette & Woods dropped their price objective on Arthur J. Gallagher & Co. from $246.00 to $240.00 and set an “underperform” rating on the stock in a research note on Wednesday, April 10th. One research analyst has rated the stock with a sell rating, six have given a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, Arthur J. Gallagher & Co. has a consensus rating of “Hold” and an average target price of $255.23.

Arthur J. Gallagher & Co. Profile

Arthur J. Gallagher & Co, together with its subsidiaries, provides insurance and reinsurance brokerage, consulting, and third-party property/casualty claims settlement and administration services to entities and individuals worldwide. It operates in Brokerage and Risk Management segments. The Brokerage segment offers retail and wholesale insurance and reinsurance brokerage services; assists retail brokers and other non-affiliated brokers in the placement of specialized and hard-to-place insurance; and acts as a brokerage wholesaler, managing general agent, and managing general underwriter for distributing specialized insurance coverages to underwriting enterprises.