5,292 Shares in Arthur J. Gallagher & Co. (NYSE:AJG) Acquired by BankPlus Trust Department

BankPlus Trust Department acquired a new position in Arthur J. Gallagher & Co. (NYSE:AJG) during the fourth quarter, HoldingsChannel reports. The institutional investor acquired 5,292 shares of the financial services provider’s stock, valued at approximately $1,502,000.

Several other large investors have also recently modified their holdings of AJG. Valley National Advisers Inc. bought a new position in shares of Arthur J. Gallagher & Co. during the fourth quarter valued at $25,000. Pin Oak Investment Advisors Inc. raised its position in Arthur J. Gallagher & Co. by 543.8% in the third quarter. Pin Oak Investment Advisors Inc. now owns 103 shares of the financial services provider’s stock worth $28,000 after acquiring an additional 87 shares during the period. Rakuten Securities Inc. grew its position in shares of Arthur J. Gallagher & Co. by 580.0% during the 3rd quarter. Rakuten Securities Inc. now owns 102 shares of the financial services provider’s stock valued at $29,000 after acquiring an additional 87 shares during the period. E Fund Management Hong Kong Co. Ltd. purchased a new position in Arthur J. Gallagher & Co. during the fourth quarter valued at $35,000. Finally, Financial Life Planners purchased a new position in shares of Arthur J. Gallagher & Co. during the 4th quarter valued at about $36,000. Hedge funds and other institutional investors own 85.53% of the company’s stock.

Analysts Set New Price Targets

AJG has been the topic of a number of recent analyst reports. Truist Financial raised their price target on Arthur J. Gallagher & Co. from $275.00 to $290.00 and gave the company a “hold” rating in a report on Friday, January 31st. Wells Fargo & Company reduced 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. The Goldman Sachs Group lowered shares of Arthur J. Gallagher & Co. from a “buy” rating to a “neutral” rating and set a $313.00 target price for the company. in a report on Monday, November 25th. Barclays increased their price objective on shares of Arthur J. Gallagher & Co. from $300.00 to $308.00 and gave the company an “equal weight” rating in a research report on Thursday, November 21st. Finally, TD Cowen raised shares of Arthur J. Gallagher & Co. from a “hold” rating to a “buy” rating and increased their price target for the company from $295.00 to $377.00 in a report on Friday, January 10th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $307.00.

Arthur J. Gallagher & Co. Stock Performance

AJG opened at $325.28 on Monday. The firm has a 50 day moving average of $297.95 and a two-hundred day moving average of $293.49. The firm has a market capitalization of $82.85 billion, a PE ratio of 49.89 and a beta of 0.77. The company has a current ratio of 1.51, a quick ratio of 1.06 and a debt-to-equity ratio of 0.63. Arthur J. Gallagher & Co. has a 12-month low of $230.08 and a 12-month high of $329.60.

Arthur J. Gallagher & Co. (NYSE:AJG) last posted its quarterly earnings results 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, analysts anticipate that Arthur J. Gallagher & Co. will post 11.54 EPS for the current year.

Arthur J. Gallagher & Co. Increases Dividend

The company 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 dividend of $0.65 per share. This is a boost from Arthur J. Gallagher & Co.’s previous quarterly dividend of $0.60. 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 0.80%. Arthur J. Gallagher & Co.’s dividend payout ratio (DPR) is presently 39.88%.

Insider Activity

In related news, CAO Richard C. Cary sold 10,000 shares of the firm’s stock in a transaction on Monday, February 10th. The shares were 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. This trade represents a 12.54 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director David S. Johnson sold 325 shares of the company’s stock in a transaction dated Wednesday, February 12th. The stock was sold at an average price of $322.06, for a total transaction of $104,669.50. Following the completion of the transaction, the director now owns 44,783 shares of the company’s stock, valued at approximately $14,422,812.98. This trade represents a 0.72 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 15,725 shares of company stock valued at $4,972,964 in the last three months. 1.60% of the stock is currently owned by corporate insiders.

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.