Arthur J. Gallagher & Co. (NYSE:AJG) Shares Purchased by Spire Wealth Management

Spire Wealth Management raised its holdings in shares of Arthur J. Gallagher & Co. (NYSE:AJG) by 13.9% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,374 shares of the financial services provider’s stock after purchasing an additional 289 shares during the quarter. Spire Wealth Management’s holdings in Arthur J. Gallagher & Co. were worth $674,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the business. FMR LLC lifted its holdings in 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 worth $3,462,392,000 after buying an additional 580,134 shares during the last quarter. State Street Corp lifted its holdings in Arthur J. Gallagher & Co. by 0.5% during the 3rd quarter. State Street Corp now owns 8,932,007 shares of the financial services provider’s stock worth $2,513,199,000 after buying an additional 47,656 shares during the last quarter. Geode Capital Management LLC lifted its holdings in Arthur J. Gallagher & Co. by 1.5% during the 3rd quarter. Geode Capital Management LLC now owns 5,490,728 shares of the financial services provider’s stock worth $1,541,044,000 after buying an additional 79,429 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in Arthur J. Gallagher & Co. by 13.6% during the 3rd 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 lifted its holdings in Arthur J. Gallagher & Co. by 2.4% during the 3rd quarter. Janus Henderson Group PLC now owns 1,330,703 shares of the financial services provider’s stock worth $374,408,000 after buying an additional 31,181 shares during the last quarter. Institutional investors and hedge funds own 85.53% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the company. Wells Fargo & Company reduced their target price 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. 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. Truist Financial raised their price target on Arthur J. Gallagher & Co. from $275.00 to $290.00 and gave the stock a “hold” rating in a report on Friday, January 31st. Royal Bank of Canada raised their price target on Arthur J. Gallagher & Co. from $320.00 to $340.00 and gave the stock an “outperform” rating in a report on Friday, January 31st. Finally, Keefe, Bruyette & Woods raised their price target on Arthur J. Gallagher & Co. from $286.00 to $295.00 and gave the stock a “market perform” rating in a report on Friday, January 31st. Two analysts have rated the stock with a sell rating, six have issued a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $307.00.

Arthur J. Gallagher & Co. Stock Up 1.2 %

Shares of Arthur J. Gallagher & Co. stock opened at $312.70 on Wednesday. The business’s fifty day moving average price is $291.71 and its two-hundred day moving average price is $289.21. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.51 and a quick ratio of 1.06. The company has a market capitalization of $78.11 billion, a P/E ratio of 47.96 and a beta of 0.77. Arthur J. Gallagher & Co. has a 1-year low of $230.08 and a 1-year high of $316.72.

Arthur J. Gallagher & Co. (NYSE:AJG) last announced its earnings results on Thursday, January 30th. The financial services provider reported $2.13 earnings per share for the quarter, beating 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%. As a group, research analysts forecast that Arthur J. Gallagher & Co. will post 11.53 EPS for the current year.

Arthur J. Gallagher & Co. Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 21st. Stockholders 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 is a boost from Arthur J. Gallagher & Co.’s previous quarterly dividend of $0.60. This represents a $2.60 annualized dividend and a dividend yield of 0.83%. Arthur J. Gallagher & Co.’s dividend payout ratio (DPR) is 36.81%.

About Arthur J. Gallagher & Co.

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.