Kornitzer Capital Management Inc. KS Has $80.08 Million Stake in Arthur J. Gallagher & Co. (NYSE:AJG)

Kornitzer Capital Management Inc. KS reduced its stake in Arthur J. Gallagher & Co. (NYSE:AJG) by 2.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 282,118 shares of the financial services provider’s stock after selling 7,940 shares during the period. Arthur J. Gallagher & Co. accounts for approximately 1.6% of Kornitzer Capital Management Inc. KS’s investment portfolio, making the stock its 6th biggest position. Kornitzer Capital Management Inc. KS owned approximately 0.11% of Arthur J. Gallagher & Co. worth $80,079,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the stock. Creative Planning increased its position in Arthur J. Gallagher & Co. by 4.4% during the 3rd quarter. Creative Planning now owns 59,653 shares of the financial services provider’s stock worth $16,785,000 after buying an additional 2,537 shares during the period. Stratos Wealth Advisors LLC increased its position in Arthur J. Gallagher & Co. by 5.5% during the third quarter. Stratos Wealth Advisors LLC now owns 1,288 shares of the financial services provider’s stock worth $363,000 after acquiring an additional 67 shares during the period. Blue Trust Inc. raised its stake in Arthur J. Gallagher & Co. by 84.9% in the 3rd quarter. Blue Trust Inc. now owns 2,045 shares of the financial services provider’s stock worth $530,000 after purchasing an additional 939 shares in the last quarter. Raymond James & Associates boosted its holdings in Arthur J. Gallagher & Co. by 0.4% in the 3rd quarter. Raymond James & Associates now owns 360,527 shares of the financial services provider’s stock valued at $101,441,000 after purchasing an additional 1,597 shares during the period. Finally, Allspring Global Investments Holdings LLC grew its position in shares of Arthur J. Gallagher & Co. by 0.5% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 10,216 shares of the financial services provider’s stock worth $2,874,000 after purchasing an additional 48 shares in the last quarter. 85.53% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

AJG has been the subject of several recent research reports. Keefe, Bruyette & Woods boosted their price target on Arthur J. Gallagher & Co. from $286.00 to $295.00 and gave the company a “market perform” rating in a research note on Friday, January 31st. BMO Capital Markets upped their target price on Arthur J. Gallagher & Co. from $312.00 to $325.00 and gave the company an “outperform” rating in a research report on Tuesday, November 12th. Truist Financial raised their price target on Arthur J. Gallagher & Co. from $275.00 to $290.00 and gave the stock a “hold” rating in a research report on Friday, January 31st. TD Cowen raised shares of Arthur J. Gallagher & Co. from a “hold” rating to a “buy” rating and upped their price objective for the stock from $295.00 to $377.00 in a research report on Friday, January 10th. Finally, Royal Bank of Canada raised their target price on shares of Arthur J. Gallagher & Co. from $320.00 to $340.00 and gave the company an “outperform” rating in a report on Friday, January 31st. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $307.00.

Insider Transactions at Arthur J. Gallagher & Co.

In other Arthur J. Gallagher & Co. news, Director Sherry S. Barrat sold 2,500 shares of Arthur J. Gallagher & Co. stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $304.33, for a total transaction of $760,825.00. Following the transaction, the director now directly owns 16,533 shares of the company’s stock, valued at approximately $5,031,487.89. The trade was a 13.14 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Richard C. Cary sold 10,000 shares of the company’s stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $322.99, for a total value of $3,229,900.00. Following the completion of the sale, the chief accounting officer now owns 69,774 shares in the company, valued at $22,536,304.26. This trade represents a 12.54 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 15,725 shares of company stock worth $4,972,964. Company insiders own 1.60% of the company’s stock.

Arthur J. Gallagher & Co. Stock Down 2.1 %

Shares of NYSE:AJG opened at $321.59 on Tuesday. Arthur J. Gallagher & Co. has a 52-week low of $230.08 and a 52-week high of $329.60. The company has a market capitalization of $80.33 billion, a PE ratio of 49.32 and a beta of 0.77. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.06 and a current ratio of 1.51. The company has a fifty day moving average of $293.94 and a 200-day moving average of $292.01.

Arthur J. Gallagher & Co. (NYSE:AJG) last announced its quarterly earnings results on Thursday, January 30th. The financial services provider reported $2.13 EPS for the quarter, beating analysts’ consensus estimates 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%. On average, equities analysts predict that Arthur J. Gallagher & Co. will post 11.4 EPS for the current fiscal year.

Arthur J. Gallagher & Co. Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 21st. Shareholders of record on Friday, March 7th will be given a $0.65 dividend. This is a boost from Arthur J. Gallagher & Co.’s previous quarterly dividend of $0.60. This represents a $2.60 annualized dividend and a yield of 0.81%. The ex-dividend date of this dividend is Friday, March 7th. Arthur J. Gallagher & Co.’s dividend payout ratio is 36.81%.

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.