Harbor Advisors LLC Acquires 1,000 Shares of Arthur J. Gallagher & Co. (NYSE:AJG)

Harbor Advisors LLC raised its holdings in shares of Arthur J. Gallagher & Co. (NYSE:AJG) by 18.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,500 shares of the financial services provider’s stock after acquiring an additional 1,000 shares during the quarter. Harbor Advisors LLC’s holdings in Arthur J. Gallagher & Co. were worth $1,462,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of AJG. Larson Financial Group LLC grew its position in shares of Arthur J. Gallagher & Co. by 284.1% during the 4th quarter. Larson Financial Group LLC now owns 265 shares of the financial services provider’s stock valued at $60,000 after purchasing an additional 196 shares in the last quarter. Brendel Financial Advisors LLC purchased a new position in Arthur J. Gallagher & Co. in the fourth quarter worth $1,727,000. Sigma Planning Corp purchased a new position in Arthur J. Gallagher & Co. in the fourth quarter worth $1,677,000. Sumitomo Mitsui DS Asset Management Company Ltd grew its position in Arthur J. Gallagher & Co. by 1.7% in the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 19,985 shares of the financial services provider’s stock worth $4,494,000 after acquiring an additional 335 shares in the last quarter. Finally, Signaturefd LLC grew its position in Arthur J. Gallagher & Co. by 1.7% in the fourth quarter. Signaturefd LLC now owns 3,467 shares of the financial services provider’s stock worth $780,000 after acquiring an additional 57 shares in the last quarter. Institutional investors own 85.53% of the company’s stock.

Arthur J. Gallagher & Co. Stock Up 0.1 %

AJG traded up $0.35 on Tuesday, hitting $237.87. The company had a trading volume of 542,316 shares, compared to its average volume of 868,982. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.03 and a quick ratio of 1.03. Arthur J. Gallagher & Co. has a 52-week low of $198.52 and a 52-week high of $256.10. The stock has a fifty day simple moving average of $244.42 and a 200-day simple moving average of $238.91. The firm has a market capitalization of $51.93 billion, a P/E ratio of 53.50, a P/E/G ratio of 2.23 and a beta of 0.68.

Arthur J. Gallagher & Co. (NYSE:AJG) last released its earnings results on Thursday, January 25th. The financial services provider reported $1.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.83 by $0.02. Arthur J. Gallagher & Co. had a net margin of 9.63% and a return on equity of 18.49%. The firm had revenue of $2.39 billion during the quarter, compared to analyst estimates of $2.40 billion. During the same period last year, the business earned $1.54 earnings per share. As a group, equities analysts expect that Arthur J. Gallagher & Co. will post 10.06 EPS for the current fiscal year.

Arthur J. Gallagher & Co. Increases Dividend

The company also recently declared 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. The ex-dividend date was Thursday, February 29th. This represents a $2.40 annualized dividend and a dividend yield of 1.01%. This is an increase from Arthur J. Gallagher & Co.’s previous quarterly dividend of $0.55. Arthur J. Gallagher & Co.’s dividend payout ratio (DPR) is 54.05%.

Insider Activity at Arthur J. Gallagher & Co.

In related news, Director David S. Johnson sold 500 shares of the firm’s stock in a transaction that occurred on Tuesday, February 6th. The shares were sold at an average price of $234.04, for a total transaction 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Arthur J. Gallagher & Co. news, Director David S. Johnson sold 500 shares of Arthur J. Gallagher & Co. stock in a transaction that occurred 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 approximately $10,540,693.52. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, VP Joel D. Cavaness sold 1,207 shares of Arthur J. Gallagher & Co. stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $255.20, for a total transaction of $308,026.40. Following the completion of the sale, the vice president now directly owns 2,023 shares of the company’s stock, valued at approximately $516,269.60. The disclosure for this sale can be found here. Insiders sold 29,016 shares of company stock valued at $7,176,180 over the last 90 days. Corporate insiders own 1.60% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently issued reports on AJG. Truist Financial reiterated a “hold” rating and issued a $255.00 target price (down from $280.00) on shares of Arthur J. Gallagher & Co. in a research report on Wednesday, April 10th. TD Cowen upped their price target on shares of Arthur J. Gallagher & Co. from $249.00 to $273.00 and gave the company a “hold” rating in a research report on Tuesday, April 2nd. Royal Bank of Canada upped 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. Keefe, Bruyette & Woods dropped their target price on shares of Arthur J. Gallagher & Co. from $246.00 to $240.00 and set an “underperform” rating for the company in a report on Wednesday, April 10th. Finally, Jefferies Financial Group lowered shares of Arthur J. Gallagher & Co. from a “buy” rating to a “hold” rating and dropped their target price for the stock from $279.00 to $233.00 in a report on Tuesday, January 9th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $255.23.

Arthur J. Gallagher & Co. Company 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.