Pacer Advisors Inc. Has $6.62 Million Stock Holdings in Arthur J. Gallagher & Co. (NYSE:AJG)

Pacer Advisors Inc. lowered its position in Arthur J. Gallagher & Co. (NYSE:AJG) by 21.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 23,315 shares of the financial services provider’s stock after selling 6,408 shares during the period. Pacer Advisors Inc.’s holdings in Arthur J. Gallagher & Co. were worth $6,618,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. FMR LLC lifted its holdings in shares of Arthur J. Gallagher & Co. by 4.9% during the 3rd quarter. FMR LLC now owns 12,305,478 shares of the financial services provider’s stock valued at $3,462,392,000 after purchasing an additional 580,134 shares in the last quarter. State Street Corp lifted its stake in Arthur J. Gallagher & Co. by 0.5% in the third quarter. State Street Corp now owns 8,932,007 shares of the financial services provider’s stock valued at $2,513,199,000 after buying an additional 47,656 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Arthur J. Gallagher & Co. by 1.5% during the third quarter. Geode Capital Management LLC now owns 5,490,728 shares of the financial services provider’s stock worth $1,541,044,000 after acquiring an additional 79,429 shares in the last quarter. Massachusetts Financial Services Co. MA raised its holdings in shares of Arthur J. Gallagher & Co. by 13.6% during the third quarter. Massachusetts Financial Services Co. MA now owns 3,196,992 shares of the financial services provider’s stock worth $899,538,000 after acquiring an additional 383,130 shares during the period. Finally, Janus Henderson Group PLC lifted its position in Arthur J. Gallagher & Co. by 2.4% in the 3rd quarter. Janus Henderson Group PLC now owns 1,330,703 shares of the financial services provider’s stock valued at $374,408,000 after acquiring an additional 31,181 shares in the last quarter. Institutional investors and hedge funds own 85.53% of the company’s stock.

Analysts Set New Price Targets

AJG has been the topic of several recent research reports. Keefe, Bruyette & Woods raised Arthur J. Gallagher & Co. from an “underperform” rating to a “market perform” rating and dropped their price target for the company from $292.00 to $286.00 in a research note on Friday, January 10th. TD Cowen upgraded Arthur J. Gallagher & Co. from a “hold” rating to a “buy” rating and boosted their target price for the company from $295.00 to $377.00 in a research note on Friday, January 10th. BMO Capital Markets lifted their price objective on shares of Arthur J. Gallagher & Co. from $312.00 to $325.00 and gave the company an “outperform” rating in a report on Tuesday, November 12th. Piper Sandler upgraded shares of Arthur J. Gallagher & Co. from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $285.00 to $315.00 in a report on Wednesday, January 8th. 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 note on Thursday, October 10th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, Arthur J. Gallagher & Co. currently has an average rating of “Hold” and an average price target of $304.07.

Arthur J. Gallagher & Co. Trading Up 0.4 %

Shares of Arthur J. Gallagher & Co. stock opened at $294.47 on Thursday. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.06 and a quick ratio of 1.06. The business has a fifty day simple moving average of $291.81 and a two-hundred day simple moving average of $288.34. Arthur J. Gallagher & Co. has a 1 year low of $227.43 and a 1 year high of $316.72. The company has a market capitalization of $73.56 billion, a price-to-earnings ratio of 56.09 and a beta of 0.76.

Arthur J. Gallagher & Co. Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 21st. Investors of record on Friday, March 7th will be issued a dividend of $0.65 per share. This is an increase from Arthur J. Gallagher & Co.’s previous quarterly dividend of $0.60. This represents a $2.60 annualized dividend and a dividend yield of 0.88%. Arthur J. Gallagher & Co.’s payout ratio is presently 45.71%.

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.