Great Lakes Retirement Inc. Acquires Shares of 3,112 Arthur J. Gallagher & Co. (NYSE:AJG)

Great Lakes Retirement Inc. purchased a new stake in Arthur J. Gallagher & Co. (NYSE:AJG) in the 4th quarter, HoldingsChannel.com reports. The fund purchased 3,112 shares of the financial services provider’s stock, valued at approximately $700,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. FMR LLC increased its position in Arthur J. Gallagher & Co. by 8.1% in the 3rd quarter. FMR LLC now owns 9,664,117 shares of the financial services provider’s stock valued at $2,202,742,000 after acquiring an additional 726,485 shares during the period. State Street Corp grew its position in Arthur J. Gallagher & Co. by 3.0% in the 2nd quarter. State Street Corp now owns 8,940,318 shares of the financial services provider’s stock valued at $1,963,026,000 after buying an additional 262,187 shares during the last quarter. Norges Bank acquired a new position in Arthur J. Gallagher & Co. in the 4th quarter valued at $1,431,788,000. Morgan Stanley boosted its holdings in shares of Arthur J. Gallagher & Co. by 0.6% in the third quarter. Morgan Stanley now owns 6,209,557 shares of the financial services provider’s stock valued at $1,415,345,000 after acquiring an additional 34,999 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its stake in shares of Arthur J. Gallagher & Co. by 1.9% during the third quarter. JPMorgan Chase & Co. now owns 5,000,975 shares of the financial services provider’s stock worth $1,139,872,000 after acquiring an additional 90,842 shares during the period. 85.53% of the stock is owned by hedge funds and other institutional investors.

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

In other news, Director David S. Johnson sold 500 shares of the stock in a transaction on Tuesday, February 6th. The shares were sold at an average price of $234.04, for a total value of $117,020.00. Following the completion of the sale, the director now owns 45,038 shares of the company’s stock, valued at $10,540,693.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other Arthur J. Gallagher & Co. news, VP Scott R. Hudson sold 15,000 shares of the stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $255.06, for a total value of $3,825,900.00. Following the completion of the sale, the vice president now owns 96,709 shares of the company’s stock, valued at $24,666,597.54. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director David S. Johnson sold 500 shares of the business’s stock in a transaction on Tuesday, February 6th. The stock was sold at an average price of $234.04, for a total transaction of $117,020.00. Following the completion of the transaction, the director now owns 45,038 shares in the company, valued at approximately $10,540,693.52. The disclosure for this sale can be found here. Insiders have sold a total of 29,016 shares of company stock valued at $7,176,180 over the last ninety days. Corporate insiders own 1.60% of the company’s stock.

Arthur J. Gallagher & Co. Trading Up 1.0 %

Shares of AJG stock traded up $2.50 during mid-day trading on Thursday, hitting $250.29. 525,250 shares of the company’s stock were exchanged, compared to its average volume of 880,958. The stock has a market cap of $54.64 billion, a price-to-earnings ratio of 55.85, a PEG ratio of 2.36 and a beta of 0.68. The stock has a 50-day simple moving average of $242.38 and a two-hundred day simple moving average of $237.56. Arthur J. Gallagher & Co. has a fifty-two week low of $186.88 and a fifty-two week high of $256.10. 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 quarterly earnings data on Thursday, January 25th. The financial services provider reported $1.85 EPS 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 during the quarter, compared to the consensus estimate of $2.40 billion. During the same period in the prior year, the firm posted $1.54 EPS. Equities analysts expect that Arthur J. Gallagher & Co. will post 10.09 EPS for the current fiscal year.

Arthur J. Gallagher & Co. Increases Dividend

The firm 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. This represents a $2.40 dividend on an annualized basis and a yield of 0.96%. The ex-dividend date was Thursday, February 29th. This is an increase from Arthur J. Gallagher & Co.’s previous quarterly dividend of $0.55. Arthur J. Gallagher & Co.’s dividend payout ratio is 54.05%.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on AJG shares. Raymond James downgraded Arthur J. Gallagher & Co. from a “strong-buy” rating to a “market perform” rating in a research note on Tuesday, December 12th. TD Cowen assumed coverage on shares of Arthur J. Gallagher & Co. in a research report on Wednesday, January 10th. They set a “market perform” rating and a $249.00 target price on the stock. Truist Financial reiterated a “buy” rating and issued a $280.00 price target on shares of Arthur J. Gallagher & Co. in a report on Tuesday. Keefe, Bruyette & Woods decreased their price objective on shares of Arthur J. Gallagher & Co. from $249.00 to $246.00 and set an “underperform” rating on the stock in a report on Friday, January 26th. Finally, Royal Bank of Canada lifted their price target on shares of Arthur J. Gallagher & Co. from $270.00 to $282.00 and gave the company an “outperform” rating in a research report on Friday, March 22nd. One research analyst has rated the stock with a sell rating, five have given a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $255.77.

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.