Angeles Wealth Management LLC Acquires 167 Shares of Arthur J. Gallagher & Co. (NYSE:AJG)

Angeles Wealth Management LLC increased its holdings in Arthur J. Gallagher & Co. (NYSE:AJG) by 19.7% in the fourth quarter, HoldingsChannel reports. The firm owned 1,014 shares of the financial services provider’s stock after purchasing an additional 167 shares during the period. Angeles Wealth Management LLC’s holdings in Arthur J. Gallagher & Co. were worth $288,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of AJG. FMR LLC increased its holdings in shares of Arthur J. Gallagher & Co. by 4.9% during the 3rd quarter. FMR LLC now owns 12,305,478 shares of the financial services provider’s stock valued at $3,462,392,000 after acquiring an additional 580,134 shares during the last quarter. State Street Corp grew its holdings in Arthur J. Gallagher & Co. by 0.5% during the third quarter. State Street Corp now owns 8,932,007 shares of the financial services provider’s stock valued at $2,513,199,000 after purchasing an additional 47,656 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Arthur J. Gallagher & Co. by 1.5% in the third quarter. Geode Capital Management LLC now owns 5,490,728 shares of the financial services provider’s stock valued at $1,541,044,000 after purchasing an additional 79,429 shares during the period. Massachusetts Financial Services Co. MA lifted its stake in shares of Arthur J. Gallagher & Co. by 13.6% in the third quarter. Massachusetts Financial Services Co. MA now owns 3,196,992 shares of the financial services provider’s stock worth $899,538,000 after buying an additional 383,130 shares during the last quarter. Finally, Janus Henderson Group PLC grew its stake in Arthur J. Gallagher & Co. by 2.4% in the 3rd quarter. Janus Henderson Group PLC now owns 1,330,703 shares of the financial services provider’s stock valued at $374,408,000 after buying an additional 31,181 shares during the last quarter. 85.53% of the stock is currently owned by institutional investors.

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

In other news, Director Sherry S. Barrat sold 2,500 shares of Arthur J. Gallagher & Co. stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $304.33, for a total value of $760,825.00. Following the completion of the transaction, the director now owns 16,533 shares in the company, valued at approximately $5,031,487.89. The trade was a 13.14 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Christopher E. Mead sold 2,900 shares of the stock in a transaction that occurred on Monday, February 3rd. The stock was 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 disclosure for this sale can be found here. Company insiders own 1.60% of the company’s stock.

Arthur J. Gallagher & Co. Stock Performance

NYSE:AJG opened at $324.25 on Tuesday. The company has a quick ratio of 1.06, a current ratio of 1.51 and a debt-to-equity ratio of 0.63. The firm has a 50-day moving average price of $292.02 and a 200 day moving average price of $290.49. The firm has a market capitalization of $81.00 billion, a PE ratio of 49.73 and a beta of 0.77. Arthur J. Gallagher & Co. has a 12-month low of $230.08 and a 12-month high of $324.79.

Arthur J. Gallagher & Co. (NYSE:AJG) last posted its earnings results on Thursday, January 30th. The financial services provider reported $2.13 EPS for the quarter, topping 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%. Research analysts anticipate that Arthur J. Gallagher & Co. will post 11.4 earnings per share for the current fiscal year.

Arthur J. Gallagher & Co. Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 21st. Investors of record on Friday, March 7th will be given a dividend of $0.65 per share. The ex-dividend date of this dividend is Friday, March 7th. This represents a $2.60 dividend on an annualized basis and a dividend yield of 0.80%. This is a boost from Arthur J. Gallagher & Co.’s previous quarterly dividend of $0.60. Arthur J. Gallagher & Co.’s dividend payout ratio (DPR) is 36.81%.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. The Goldman Sachs Group lowered shares of Arthur J. Gallagher & Co. from a “buy” rating to a “neutral” rating and set a $313.00 target price for the company. in a research report on Monday, November 25th. BMO Capital Markets increased their target price on Arthur J. Gallagher & Co. from $312.00 to $325.00 and gave the company an “outperform” rating in a research note on Tuesday, November 12th. Wells Fargo & Company dropped their price target on Arthur J. Gallagher & Co. from $344.00 to $341.00 and set an “overweight” rating on the stock in a research report on Friday, January 31st. Piper Sandler upgraded shares of Arthur J. Gallagher & Co. from a “neutral” rating to an “overweight” rating and raised their price objective for the stock from $285.00 to $315.00 in a research note on Wednesday, January 8th. Finally, TD Cowen upgraded shares of Arthur J. Gallagher & Co. from a “hold” rating to a “buy” rating and upped their target price for the company from $295.00 to $377.00 in a research note on Friday, January 10th. Two equities research 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. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $307.00.

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.