Busey Bank Acquires 1,008 Shares of Arthur J. Gallagher & Co. (NYSE:AJG)

Busey Bank raised its position in shares of Arthur J. Gallagher & Co. (NYSE:AJG) by 2.3% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 45,262 shares of the financial services provider’s stock after purchasing an additional 1,008 shares during the quarter. Busey Bank’s holdings in Arthur J. Gallagher & Co. were worth $12,848,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Strategic Investment Solutions Inc. IL purchased a new stake in Arthur J. Gallagher & Co. during the 2nd quarter valued at $26,000. Pin Oak Investment Advisors Inc. boosted its position in Arthur J. Gallagher & Co. by 543.8% during the 3rd quarter. Pin Oak Investment Advisors Inc. now owns 103 shares of the financial services provider’s stock valued at $28,000 after buying an additional 87 shares during the period. Quarry LP purchased a new stake in Arthur J. Gallagher & Co. during the 2nd quarter valued at $29,000. Rakuten Securities Inc. boosted its position in 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 buying an additional 87 shares during the period. Finally, E Fund Management Hong Kong Co. Ltd. purchased a new stake in Arthur J. Gallagher & Co. during the 4th quarter valued at $35,000. Hedge funds and other institutional investors own 85.53% of the company’s stock.

Analyst Ratings Changes

AJG has been the subject of several research analyst reports. Wells Fargo & Company raised their target price on shares of Arthur J. Gallagher & Co. from $315.00 to $344.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 10th. The Goldman Sachs Group cut shares of Arthur J. Gallagher & Co. from a “buy” rating to a “neutral” rating and set a $313.00 price target for the company. in a research report on Monday, November 25th. Jefferies Financial Group lifted their price target on shares of Arthur J. Gallagher & Co. from $269.00 to $274.00 and gave the company a “hold” rating in a research report on Wednesday, October 9th. TD Cowen raised shares of Arthur J. Gallagher & Co. from a “hold” rating to a “buy” rating and lifted their price target for the company from $295.00 to $377.00 in a research report on Friday, January 10th. Finally, Bank of America lifted their price target on shares of Arthur J. Gallagher & Co. from $271.00 to $293.00 and gave the company an “underperform” rating in a research report on Thursday, October 10th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $304.07.

Arthur J. Gallagher & Co. Stock Performance

Shares of AJG stock opened at $294.47 on Thursday. The company has a 50 day moving average price of $291.81 and a 200-day moving average price of $288.34. Arthur J. Gallagher & Co. has a 52 week low of $227.43 and a 52 week high of $316.72. The firm has a market capitalization of $73.56 billion, a PE ratio of 56.09 and a beta of 0.76. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.64.

Arthur J. Gallagher & Co. Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 21st. Stockholders of record on Friday, March 7th will be paid a $0.65 dividend. This is a positive change from Arthur J. Gallagher & Co.’s previous quarterly dividend of $0.60. This represents a $2.60 dividend on an annualized basis and a dividend yield of 0.88%. Arthur J. Gallagher & Co.’s payout ratio is currently 45.71%.

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.