Richardson Financial Services Inc. Sells 73 Shares of Arthur J. Gallagher & Co. (NYSE:AJG)

Richardson Financial Services Inc. decreased its position in Arthur J. Gallagher & Co. (NYSE:AJG) by 31.1% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 162 shares of the financial services provider’s stock after selling 73 shares during the period. Richardson Financial Services Inc.’s holdings in Arthur J. Gallagher & Co. were worth $46,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of AJG. Quarry LP bought a new position in shares of Arthur J. Gallagher & Co. during the 2nd quarter worth $29,000. Sanctuary Advisors LLC purchased a new stake in Arthur J. Gallagher & Co. in the second quarter worth about $4,661,000. Czech National Bank increased its position in Arthur J. Gallagher & Co. by 7.2% during the 3rd quarter. Czech National Bank now owns 44,633 shares of the financial services provider’s stock valued at $12,558,000 after purchasing an additional 2,996 shares during the period. HBW Advisory Services LLC bought a new stake in shares of Arthur J. Gallagher & Co. in the 3rd quarter valued at about $309,000. Finally, Miracle Mile Advisors LLC lifted its position in shares of Arthur J. Gallagher & Co. by 0.8% in the 3rd quarter. Miracle Mile Advisors LLC now owns 4,583 shares of the financial services provider’s stock worth $1,289,000 after purchasing an additional 38 shares during the period. Institutional investors own 85.53% of the company’s stock.

Arthur J. Gallagher & Co. Stock Performance

Shares of AJG stock opened at $302.20 on Monday. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.06 and a quick ratio of 1.06. The business has a fifty day moving average of $291.66 and a 200 day moving average of $288.82. The firm has a market capitalization of $75.49 billion, a price-to-earnings ratio of 57.56 and a beta of 0.76. Arthur J. Gallagher & Co. has a 1 year low of $227.43 and a 1 year high of $316.72.

Arthur J. Gallagher & Co. (NYSE:AJG) last released its earnings results 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 19.12% and a net margin of 10.40%. As a group, research analysts expect that Arthur J. Gallagher & Co. will post 10.04 earnings per share for the current year.

Arthur J. Gallagher & Co. Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 21st. Stockholders of record on Friday, March 7th will be paid a $0.65 dividend. 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 0.86%. This is a positive change from Arthur J. Gallagher & Co.’s previous quarterly dividend of $0.60. Arthur J. Gallagher & Co.’s dividend payout ratio is presently 45.71%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the stock. Wells Fargo & Company reduced their price objective on shares of Arthur J. Gallagher & Co. from $344.00 to $341.00 and set an “overweight” rating for the company in a research note on Friday. Bank of America raised their price objective on Arthur J. Gallagher & Co. from $271.00 to $293.00 and gave the company an “underperform” rating in a research report on Thursday, October 10th. Keefe, Bruyette & Woods boosted their target price on shares of Arthur J. Gallagher & Co. from $286.00 to $295.00 and gave the stock a “market perform” rating in a report on Friday. Piper Sandler raised shares of Arthur J. Gallagher & Co. from a “neutral” rating to an “overweight” rating and lifted their price objective for the stock from $285.00 to $315.00 in a research report on Wednesday, January 8th. Finally, TD Cowen raised shares of Arthur J. Gallagher & Co. from a “hold” rating to a “buy” rating and increased their target price for the company from $295.00 to $377.00 in a research report on Friday, January 10th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently 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.