Parsons Capital Management Inc. RI Purchases 700 Shares of Arthur J. Gallagher & Co. (NYSE:AJG)

Parsons Capital Management Inc. RI grew its holdings in shares of Arthur J. Gallagher & Co. (NYSE:AJG) by 16.0% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 5,082 shares of the financial services provider’s stock after buying an additional 700 shares during the period. Parsons Capital Management Inc. RI’s holdings in Arthur J. Gallagher & Co. were worth $1,443,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the business. Strategic Investment Solutions Inc. IL bought a new position in Arthur J. Gallagher & Co. in the 2nd quarter valued at $26,000. Pin Oak Investment Advisors Inc. boosted its stake in shares of Arthur J. Gallagher & Co. by 543.8% during the third 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. Quarry LP bought a new position in shares of Arthur J. Gallagher & Co. in the second quarter worth about $29,000. Rakuten Securities Inc. lifted its holdings 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 in the last quarter. Finally, E Fund Management Hong Kong Co. Ltd. purchased a new stake in Arthur J. Gallagher & Co. in the 4th quarter valued at about $35,000. Institutional investors own 85.53% of the company’s stock.

Arthur J. Gallagher & Co. Price Performance

Shares of AJG stock opened at $295.87 on Tuesday. Arthur J. Gallagher & Co. has a fifty-two week low of $227.43 and a fifty-two week high of $316.72. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.06 and a current ratio of 1.06. The firm has a market capitalization of $73.91 billion, a price-to-earnings ratio of 56.36 and a beta of 0.76. The stock’s 50-day simple moving average is $291.74 and its 200-day simple moving average is $288.00.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on AJG. Keefe, Bruyette & Woods raised shares of Arthur J. Gallagher & Co. from an “underperform” rating to a “market perform” rating and reduced their target price for the stock from $292.00 to $286.00 in a research report on Friday, January 10th. Wells Fargo & Company raised their price objective on Arthur J. Gallagher & Co. from $315.00 to $344.00 and gave the stock an “overweight” rating in a report on Tuesday, December 10th. TD Cowen upgraded Arthur J. Gallagher & Co. from a “hold” rating to a “buy” rating and upped their target price for the stock from $295.00 to $377.00 in a report on Friday, January 10th. BMO Capital Markets lifted their price objective on Arthur J. Gallagher & Co. from $312.00 to $325.00 and gave the company an “outperform” rating in a report on Tuesday, November 12th. Finally, Jefferies Financial Group increased their target price on shares of Arthur J. Gallagher & Co. from $269.00 to $274.00 and gave the stock a “hold” rating in a report on Wednesday, October 9th. Two 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. According to data from MarketBeat.com, Arthur J. Gallagher & Co. presently has an average rating of “Hold” and a consensus price target of $304.07.

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.