SVB Wealth LLC Buys Shares of 8,810 Arthur J. Gallagher & Co. (NYSE:AJG)

SVB Wealth LLC purchased a new position in shares of Arthur J. Gallagher & Co. (NYSE:AJG) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 8,810 shares of the financial services provider’s stock, valued at approximately $2,501,000.

A number of other hedge funds have also recently modified their holdings of AJG. Assenagon Asset Management S.A. raised its stake in shares of Arthur J. Gallagher & Co. by 47.6% in the third quarter. Assenagon Asset Management S.A. now owns 6,547 shares of the financial services provider’s stock worth $1,842,000 after buying an additional 2,110 shares during the period. Financial Advocates Investment Management raised its stake in Arthur J. Gallagher & Co. by 1.6% during the 3rd quarter. Financial Advocates Investment Management now owns 3,647 shares of the financial services provider’s stock worth $1,026,000 after acquiring an additional 59 shares during the period. Principal Securities Inc. lifted its holdings in Arthur J. Gallagher & Co. by 8.9% during the third quarter. Principal Securities Inc. now owns 8,741 shares of the financial services provider’s stock valued at $2,459,000 after purchasing an additional 716 shares in the last quarter. Chicago Partners Investment Group LLC increased its stake in shares of Arthur J. Gallagher & Co. by 3.0% in the third quarter. Chicago Partners Investment Group LLC now owns 10,835 shares of the financial services provider’s stock worth $3,130,000 after purchasing an additional 313 shares in the last quarter. Finally, Angeles Wealth Management LLC bought a new stake in shares of Arthur J. Gallagher & Co. during the 3rd quarter valued at $238,000. Institutional investors own 85.53% of the company’s stock.

Insider Buying and Selling

In other news, VP Christopher E. Mead sold 2,900 shares of the firm’s stock in a transaction dated 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 sale, the vice president now owns 14,674 shares in the company, valued at approximately $4,440,499.14. This trade represents a 16.50 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director David S. Johnson sold 325 shares of Arthur J. Gallagher & Co. stock in a transaction dated Wednesday, February 12th. The stock was sold at an average price of $322.06, for a total transaction of $104,669.50. Following the transaction, the director now directly owns 44,783 shares of the company’s stock, valued at approximately $14,422,812.98. This represents a 0.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 15,725 shares of company stock worth $4,972,964 over the last three months. 1.60% of the stock is owned by insiders.

Arthur J. Gallagher & Co. Price Performance

AJG stock opened at $337.61 on Friday. The company has a fifty day simple moving average of $302.93 and a two-hundred day simple moving average of $295.15. Arthur J. Gallagher & Co. has a 52 week low of $230.08 and a 52 week high of $338.43. The company has a quick ratio of 1.51, a current ratio of 1.51 and a debt-to-equity ratio of 0.63. The firm has a market capitalization of $85.99 billion, a P/E ratio of 51.78 and a beta of 0.77.

Arthur J. Gallagher & Co. (NYSE:AJG) last released its quarterly earnings results on Thursday, January 30th. The financial services provider reported $2.13 EPS for the quarter, topping the consensus estimate of $2.03 by $0.10. Arthur J. Gallagher & Co. had a return on equity of 16.47% and a net margin of 12.70%. Analysts anticipate that Arthur J. Gallagher & Co. will post 11.54 earnings per share for the current fiscal year.

Arthur J. Gallagher & Co. Increases Dividend

The business also recently declared 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 represents a $2.60 annualized dividend and a yield of 0.77%. The ex-dividend date of this dividend is Friday, March 7th. This is a positive change from Arthur J. Gallagher & Co.’s previous quarterly dividend of $0.60. Arthur J. Gallagher & Co.’s dividend payout ratio is presently 39.88%.

Analyst Ratings Changes

A number of equities research analysts have issued reports on AJG shares. Truist Financial increased their price target on Arthur J. Gallagher & Co. from $275.00 to $290.00 and gave the stock a “hold” rating in a research note on Friday, January 31st. TD Cowen upgraded Arthur J. Gallagher & Co. from a “hold” rating to a “buy” rating and increased their target price for the stock from $295.00 to $377.00 in a research report on Friday, January 10th. Royal Bank of Canada boosted their price target on Arthur J. Gallagher & Co. from $320.00 to $340.00 and gave the stock an “outperform” rating in a report on Friday, January 31st. The Goldman Sachs Group lowered shares of Arthur J. Gallagher & Co. from a “buy” rating to a “neutral” rating and set a $313.00 price objective for the company. in a report on Monday, November 25th. Finally, Keefe, Bruyette & Woods boosted their target price on shares of Arthur J. Gallagher & Co. from $286.00 to $295.00 and gave the stock a “market perform” rating in a report on Friday, January 31st. Two research analysts have rated the stock with a sell rating, six have given a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $307.00.

Arthur J. Gallagher & Co. 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.