SVB Wealth LLC Acquires New Position in Arthur J. Gallagher & Co. (NYSE:AJG)

SVB Wealth LLC bought a new position in Arthur J. Gallagher & Co. (NYSE:AJG) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 8,810 shares of the financial services provider’s stock, valued at approximately $2,501,000.

A number of other institutional investors have also modified their holdings of AJG. Mutual of America Capital Management LLC boosted its holdings in shares of Arthur J. Gallagher & Co. by 10.9% in the fourth quarter. Mutual of America Capital Management LLC now owns 29,926 shares of the financial services provider’s stock valued at $8,494,000 after purchasing an additional 2,944 shares during the period. Flputnam Investment Management Co. lifted its holdings in shares of Arthur J. Gallagher & Co. by 19.6% in the 4th quarter. Flputnam Investment Management Co. now owns 25,930 shares of the financial services provider’s stock worth $7,360,000 after buying an additional 4,254 shares during the period. Fort Sheridan Advisors LLC grew its position in shares of Arthur J. Gallagher & Co. by 12.5% during the 4th quarter. Fort Sheridan Advisors LLC now owns 900 shares of the financial services provider’s stock worth $255,000 after buying an additional 100 shares in the last quarter. Linscomb Wealth Inc. increased its stake in shares of Arthur J. Gallagher & Co. by 2.2% during the fourth quarter. Linscomb Wealth Inc. now owns 2,628 shares of the financial services provider’s stock valued at $746,000 after buying an additional 57 shares during the period. Finally, Otter Creek Advisors LLC raised its holdings in shares of Arthur J. Gallagher & Co. by 8.5% in the fourth quarter. Otter Creek Advisors LLC now owns 18,658 shares of the financial services provider’s stock valued at $5,296,000 after acquiring an additional 1,458 shares in the last quarter. 85.53% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the stock. Keefe, Bruyette & Woods raised 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 report on Friday, January 31st. Piper Sandler raised shares of Arthur J. Gallagher & Co. from a “neutral” rating to an “overweight” rating and lifted their price objective for the company from $285.00 to $315.00 in a report on Wednesday, January 8th. TD Cowen upgraded Arthur J. Gallagher & Co. from a “hold” rating to a “buy” rating and upped their target price for the stock from $295.00 to $377.00 in a report on Friday, January 10th. Wells Fargo & Company cut their price target on Arthur J. Gallagher & Co. from $344.00 to $341.00 and set an “overweight” rating on the stock in a report on Friday, January 31st. Finally, Barclays upped their price objective on Arthur J. Gallagher & Co. from $300.00 to $308.00 and gave the stock an “equal weight” rating in a research note on Thursday, November 21st. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, Arthur J. Gallagher & Co. currently has an average rating of “Hold” and a consensus price target of $307.00.

Insider Activity at Arthur J. Gallagher & Co.

In other Arthur J. Gallagher & Co. news, CAO Richard C. Cary sold 10,000 shares of the business’s stock in a transaction dated 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 sale, the chief accounting officer now owns 69,774 shares in the company, valued at approximately $22,536,304.26. The trade was a 12.54 % decrease in their position. The transaction 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 stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $302.61, for a total value of $877,569.00. Following the completion of the transaction, the vice president now directly owns 14,674 shares in the company, valued at $4,440,499.14. This represents a 16.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 15,725 shares of company stock valued at $4,972,964 in the last ninety days. Company insiders own 1.60% of the company’s stock.

Arthur J. Gallagher & Co. Trading Up 1.3 %

Arthur J. Gallagher & Co. stock opened at $337.61 on Friday. Arthur J. Gallagher & Co. has a one year low of $230.08 and a one year high of $338.43. The stock has a market cap of $85.99 billion, a PE ratio of 51.78 and a beta of 0.77. 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 stock has a 50-day moving average of $302.93 and a two-hundred day moving average of $295.15.

Arthur J. Gallagher & Co. (NYSE:AJG) last announced its quarterly earnings data on Thursday, January 30th. The financial services provider reported $2.13 EPS 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%. On average, research analysts anticipate 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 disclosed a quarterly dividend, which will be paid on Friday, March 21st. Stockholders of record on Friday, March 7th will be issued a dividend of $0.65 per share. The ex-dividend date is Friday, March 7th. This is a positive change 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 0.77%. Arthur J. Gallagher & Co.’s payout ratio is 39.88%.

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.