Bank of New York Mellon Corp Acquires 47,585 Shares of Arthur J. Gallagher & Co. (NYSE:AJG)

Bank of New York Mellon Corp raised its position in Arthur J. Gallagher & Co. (NYSE:AJG) by 3.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,455,254 shares of the financial services provider’s stock after buying an additional 47,585 shares during the quarter. Bank of New York Mellon Corp owned about 0.58% of Arthur J. Gallagher & Co. worth $413,074,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the company. Valley National Advisers Inc. bought a new stake in shares of Arthur J. Gallagher & Co. during the 4th quarter valued at $25,000. Pin Oak Investment Advisors Inc. raised its stake in shares of 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 purchasing an additional 87 shares during the period. Rakuten Securities Inc. raised its stake in shares of 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 purchasing an additional 87 shares during the period. E Fund Management Hong Kong Co. Ltd. bought a new stake in shares of Arthur J. Gallagher & Co. during the 4th quarter valued at $35,000. Finally, Financial Life Planners bought a new stake in shares of Arthur J. Gallagher & Co. during the 4th quarter valued at $36,000. 85.53% of the stock is currently owned by institutional investors.

Arthur J. Gallagher & Co. Stock Down 1.2 %

Shares of NYSE:AJG opened at $327.70 on Thursday. Arthur J. Gallagher & Co. has a 52-week low of $230.08 and a 52-week high of $333.03. The firm has a market capitalization of $83.47 billion, a P/E ratio of 50.26 and a beta of 0.77. The stock has a 50 day moving average price of $300.76 and a 200-day moving average price of $294.40. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.51 and a current ratio of 1.51.

Arthur J. Gallagher & Co. (NYSE:AJG) last announced its earnings results on Thursday, January 30th. The financial services provider reported $2.13 earnings per share (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%. As a group, equities research analysts anticipate that Arthur J. Gallagher & Co. will post 11.54 EPS for the current fiscal year.

Arthur J. Gallagher & Co. Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 21st. Stockholders of record on Friday, March 7th will be given a $0.65 dividend. The ex-dividend date is Friday, March 7th. This represents a $2.60 annualized dividend and a dividend yield of 0.79%. 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 currently 39.88%.

Analysts Set New Price Targets

Several research firms recently commented on AJG. Royal Bank of Canada boosted their target price on Arthur J. Gallagher & Co. from $320.00 to $340.00 and gave the stock an “outperform” rating in a research report on Friday, January 31st. Piper Sandler upgraded Arthur J. Gallagher & Co. from a “neutral” rating to an “overweight” rating and upped their price objective for the stock from $285.00 to $315.00 in a report on Wednesday, January 8th. BMO Capital Markets boosted their target price on Arthur J. Gallagher & Co. from $312.00 to $325.00 and gave the company an “outperform” rating in a research note on Tuesday, November 12th. Wells Fargo & Company lowered their target price on Arthur J. Gallagher & Co. from $344.00 to $341.00 and set an “overweight” rating for the company in a research note on Friday, January 31st. Finally, The Goldman Sachs Group lowered Arthur J. Gallagher & Co. from a “buy” rating to a “neutral” rating and set a $313.00 target price for the company. in a research note on Monday, November 25th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $307.00.

Insider Transactions at Arthur J. Gallagher & Co.

In related news, Director David S. Johnson sold 325 shares of the company’s stock in a transaction that occurred on Wednesday, February 12th. The stock was sold at an average price of $322.06, for a total value of $104,669.50. Following the sale, the director now owns 44,783 shares in the company, valued at $14,422,812.98. This represents a 0.72 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, VP Christopher E. Mead sold 2,900 shares of the company’s stock in a transaction that occurred on Monday, February 3rd. The stock was 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 $4,440,499.14. The trade was a 16.50 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 15,725 shares of company stock valued at $4,972,964. Corporate insiders own 1.60% of the company’s stock.

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.