Glenview Trust co Purchases 167 Shares of Arthur J. Gallagher & Co. (NYSE:AJG)

Glenview Trust co increased its position in shares of Arthur J. Gallagher & Co. (NYSE:AJG) by 20.5% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 980 shares of the financial services provider’s stock after acquiring an additional 167 shares during the period. Glenview Trust co’s holdings in Arthur J. Gallagher & Co. were worth $278,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Wealth Enhancement Advisory Services LLC lifted 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 worth $18,893,000 after buying an additional 11,752 shares during the period. Principal Financial Group Inc. lifted its holdings in Arthur J. Gallagher & Co. by 231.2% during 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 period. Running Oak Capital LLC lifted its holdings in Arthur J. Gallagher & Co. by 8.9% during the 4th quarter. Running Oak Capital LLC now owns 48,722 shares of the financial services provider’s stock worth $13,830,000 after buying an additional 3,983 shares during the period. MML Investors Services LLC lifted its holdings in Arthur J. Gallagher & Co. by 1.2% during the 3rd quarter. MML Investors Services LLC now owns 183,857 shares of the financial services provider’s stock worth $51,732,000 after buying an additional 2,092 shares during the period. Finally, Nordea Investment Management AB lifted its holdings in Arthur J. Gallagher & Co. by 16.7% during the 4th quarter. Nordea Investment Management AB now owns 22,436 shares of the financial services provider’s stock worth $6,381,000 after buying an additional 3,217 shares during the period. Institutional investors own 85.53% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have commented on the company. The Goldman Sachs Group downgraded Arthur J. Gallagher & Co. from a “buy” rating to a “neutral” rating and set a $313.00 target price on the stock. in a report on Monday, November 25th. Piper Sandler raised Arthur J. Gallagher & Co. from a “neutral” rating to an “overweight” rating and boosted their price objective for the company from $285.00 to $315.00 in a research note on Wednesday, January 8th. Royal Bank of Canada boosted their price objective on Arthur J. Gallagher & Co. from $320.00 to $340.00 and gave the company an “outperform” rating in a research note on Friday, January 31st. Keefe, Bruyette & Woods boosted their price objective on Arthur J. Gallagher & Co. from $295.00 to $308.00 and gave the company a “market perform” rating in a research note on Wednesday, March 5th. Finally, Wells Fargo & Company dropped their price objective on Arthur J. Gallagher & Co. from $344.00 to $341.00 and set an “overweight” rating on the stock in a research note on Friday, January 31st. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Arthur J. Gallagher & Co. has an average rating of “Hold” and a consensus price target of $307.93.

Arthur J. Gallagher & Co. Stock Performance

Shares of AJG opened at $329.32 on Tuesday. 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 price of $313.21 and a two-hundred day moving average price of $298.48. The firm has a market capitalization of $83.88 billion, a P/E ratio of 50.51 and a beta of 0.75. Arthur J. Gallagher & Co. has a 52 week low of $230.08 and a 52 week high of $345.43.

Arthur J. Gallagher & Co. (NYSE:AJG) last issued its quarterly earnings data on Thursday, January 30th. The financial services provider reported $2.13 EPS for the quarter, topping analysts’ consensus estimates 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%. Equities analysts forecast that Arthur J. Gallagher & Co. will post 11.54 earnings per share 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. Shareholders of record on Friday, March 7th will be issued a dividend of $0.65 per share. 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 yield of 0.79%. The ex-dividend date of this dividend is Friday, March 7th. Arthur J. Gallagher & Co.’s payout ratio is currently 39.88%.

Insiders Place Their Bets

In other news, CAO Richard C. Cary sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $322.99, for a total value of $3,229,900.00. Following the completion of the transaction, the chief accounting officer now directly owns 69,774 shares of the company’s stock, valued at $22,536,304.26. This represents a 12.54 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director David S. Johnson sold 325 shares of the company’s stock in a transaction that occurred on Wednesday, February 12th. The shares were sold at an average price of $322.06, for a total value of $104,669.50. Following the completion of the transaction, the director now directly owns 44,783 shares of the company’s stock, valued at approximately $14,422,812.98. This represents a 0.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 15,725 shares of company stock valued at $4,972,964. Corporate insiders own 1.60% of the company’s stock.

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 business segments: Brokerage, Risk Management, and Corporate. The Brokerage segment consists of retail and wholesale insurance brokerage operations.