Texas Bank & Trust Co Invests $270,000 in Arthur J. Gallagher & Co. (NYSE:AJG)

Texas Bank & Trust Co bought a new position in Arthur J. Gallagher & Co. (NYSE:AJG) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 950 shares of the financial services provider’s stock, valued at approximately $270,000.

Other institutional investors have also made changes to their positions in the company. Running Oak Capital LLC boosted its holdings in shares of Arthur J. Gallagher & Co. by 8.9% during the fourth quarter. Running Oak Capital LLC now owns 48,722 shares of the financial services provider’s stock worth $13,830,000 after purchasing an additional 3,983 shares during the period. Red Spruce Capital LLC acquired a new stake in shares of Arthur J. Gallagher & Co. during the fourth quarter worth approximately $298,000. Hartford Investment Management Co. boosted its holdings in shares of Arthur J. Gallagher & Co. by 11.1% during the fourth quarter. Hartford Investment Management Co. now owns 15,434 shares of the financial services provider’s stock worth $4,381,000 after purchasing an additional 1,537 shares during the period. Iams Wealth Management LLC boosted its holdings in shares of Arthur J. Gallagher & Co. by 65.0% during the fourth quarter. Iams Wealth Management LLC now owns 7,962 shares of the financial services provider’s stock worth $2,260,000 after purchasing an additional 3,138 shares during the period. Finally, Retirement Systems of Alabama boosted its holdings in shares of Arthur J. Gallagher & Co. by 4.0% during the fourth quarter. Retirement Systems of Alabama now owns 181,269 shares of the financial services provider’s stock worth $51,453,000 after purchasing an additional 6,905 shares during the period. 85.53% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, VP Scott R. Hudson sold 7,510 shares of the business’s stock in a transaction on Friday, March 21st. The shares were sold at an average price of $333.59, for a total value of $2,505,260.90. Following the sale, the vice president now owns 90,020 shares in the company, valued at approximately $30,029,771.80. The trade was a 7.70% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 1.60% of the stock is owned by corporate insiders.

Arthur J. Gallagher & Co. Trading Up 1.1%

Shares of AJG stock opened at $342.12 on Monday. Arthur J. Gallagher & Co. has a 1 year low of $244.60 and a 1 year high of $350.70. The firm’s fifty day simple moving average is $330.80 and its 200 day simple moving average is $312.07. The firm has a market capitalization of $87.62 billion, a P/E ratio of 52.47 and a beta of 0.78. The company has a current ratio of 1.51, a quick ratio of 1.51 and a debt-to-equity ratio of 0.63.

Arthur J. Gallagher & Co. (NYSE:AJG) last posted its quarterly earnings results on Thursday, May 1st. The financial services provider reported $3.67 earnings per share for the quarter, topping analysts’ consensus estimates of $3.57 by $0.10. Arthur J. Gallagher & Co. had a net margin of 12.70% and a return on equity of 16.47%. The firm had revenue of $3.69 billion for the quarter, compared to the consensus estimate of $3.85 billion. During the same quarter in the previous year, the company earned $3.45 earnings per share. The business’s revenue was up 14.5% compared to the same quarter last year. As a group, sell-side analysts predict that Arthur J. Gallagher & Co. will post 11.54 EPS for the current year.

Arthur J. Gallagher & Co. Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, June 20th. Stockholders of record on Friday, June 6th will be paid a $0.65 dividend. The ex-dividend date is Friday, June 6th. This represents a $2.60 annualized dividend and a dividend yield of 0.76%. Arthur J. Gallagher & Co.’s dividend payout ratio is presently 37.63%.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on AJG. Wells Fargo & Company raised their price objective on shares of Arthur J. Gallagher & Co. from $370.00 to $372.00 and gave the company an “overweight” rating in a research report on Thursday, April 10th. Truist Financial raised their price objective on shares of 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. Barclays raised their price objective on shares of Arthur J. Gallagher & Co. from $308.00 to $346.00 and gave the company an “equal weight” rating in a research report on Friday, April 11th. Royal Bank of Canada raised their price objective on shares of Arthur J. Gallagher & Co. from $320.00 to $340.00 and gave the company an “outperform” rating in a research report on Friday, January 31st. Finally, Keefe, Bruyette & Woods raised their price objective on shares of Arthur J. Gallagher & Co. from $307.00 to $315.00 and gave the company a “market perform” rating in a research report on Friday, May 2nd. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Arthur J. Gallagher & Co. presently has an average rating of “Hold” and an average target price of $318.57.

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.