Corebridge Financial Inc. Acquires 5,911 Shares of Arthur J. Gallagher & Co. (NYSE:AJG)

Corebridge Financial Inc. grew its stake in Arthur J. Gallagher & Co. (NYSE:AJG) by 9.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 69,567 shares of the financial services provider’s stock after acquiring an additional 5,911 shares during the period. Corebridge Financial Inc.’s holdings in Arthur J. Gallagher & Co. were worth $19,747,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Catalina Capital Group LLC increased its position in shares of Arthur J. Gallagher & Co. by 1.0% during the 4th quarter. Catalina Capital Group LLC now owns 3,380 shares of the financial services provider’s stock worth $959,000 after purchasing an additional 35 shares during the last quarter. Greenleaf Trust grew its stake in shares of Arthur J. Gallagher & Co. by 1.1% in the fourth quarter. Greenleaf Trust now owns 3,310 shares of the financial services provider’s stock valued at $940,000 after buying an additional 36 shares in the last quarter. HBK Sorce Advisory LLC increased its holdings in Arthur J. Gallagher & Co. by 3.2% during the fourth quarter. HBK Sorce Advisory LLC now owns 1,173 shares of the financial services provider’s stock worth $333,000 after buying an additional 36 shares during the last quarter. Brendel Financial Advisors LLC raised its position in Arthur J. Gallagher & Co. by 0.5% during the fourth quarter. Brendel Financial Advisors LLC now owns 7,237 shares of the financial services provider’s stock worth $2,054,000 after acquiring an additional 38 shares in the last quarter. Finally, Encompass More Asset Management lifted its stake in Arthur J. Gallagher & Co. by 4.4% in the third quarter. Encompass More Asset Management now owns 969 shares of the financial services provider’s stock valued at $273,000 after acquiring an additional 41 shares during the last quarter. Institutional investors and hedge funds own 85.53% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. Royal Bank of Canada upped their target price on shares of Arthur J. Gallagher & Co. from $320.00 to $340.00 and gave the company an “outperform” rating in a report on Friday, January 31st. Truist Financial raised their price objective on Arthur J. Gallagher & Co. from $275.00 to $290.00 and gave the company a “hold” rating in a research report on Friday, January 31st. The Goldman Sachs Group lowered 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. Wells Fargo & Company raised their price target on Arthur J. Gallagher & Co. from $341.00 to $370.00 and gave the company an “overweight” rating in a report on Friday. Finally, TD Cowen upgraded shares of Arthur J. Gallagher & Co. from a “hold” rating to a “buy” rating and upped their price objective 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 assigned a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, Arthur J. Gallagher & Co. currently has a consensus rating of “Hold” and an average target price of $310.43.

Arthur J. Gallagher & Co. Stock Performance

NYSE:AJG opened at $338.10 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. Arthur J. Gallagher & Co. has a fifty-two week low of $230.08 and a fifty-two week high of $345.43. The company has a market cap of $86.11 billion, a price-to-earnings ratio of 51.86 and a beta of 0.75. The stock has a fifty day moving average price of $318.01 and a 200-day moving average price of $299.81.

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, 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%. As a group, equities analysts anticipate that Arthur J. Gallagher & Co. will post 11.54 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 21st. Shareholders of record on Friday, March 7th were issued a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a dividend yield of 0.77%. The ex-dividend date was Friday, March 7th. This is an increase from Arthur J. Gallagher & Co.’s previous quarterly dividend of $0.60. Arthur J. Gallagher & Co.’s dividend payout ratio (DPR) is currently 39.88%.

Insiders Place Their Bets

In related news, VP Christopher E. Mead sold 2,900 shares of the stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $302.61, for a total value of $877,569.00. Following the completion of the transaction, the vice president now owns 14,674 shares of the company’s stock, valued at $4,440,499.14. This represents a 16.50 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Sherry S. Barrat sold 2,500 shares of the business’s stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $304.33, for a total transaction of $760,825.00. Following the sale, the director now directly owns 16,533 shares in the company, valued at approximately $5,031,487.89. The trade was a 13.14 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 23,235 shares of company stock valued at $7,478,224. 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 segments: Brokerage, Risk Management, and Corporate. The Brokerage segment consists of retail and wholesale insurance brokerage operations.