Glenview Trust co Purchases 167 Shares of Arthur J. Gallagher & Co. (NYSE:AJG)

Glenview Trust co raised its position in shares of Arthur J. Gallagher & Co. (NYSE:AJG) by 20.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 980 shares of the financial services provider’s stock after purchasing an additional 167 shares during the period. Glenview Trust co’s holdings in Arthur J. Gallagher & Co. were worth $278,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Valley National Advisers Inc. bought a new position in Arthur J. Gallagher & Co. during the fourth quarter valued at $25,000. Pin Oak Investment Advisors Inc. grew its holdings in 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. E Fund Management Hong Kong Co. Ltd. bought a new position in Arthur J. Gallagher & Co. during the fourth quarter valued at $35,000. Financial Life Planners bought a new position in Arthur J. Gallagher & Co. during the fourth quarter valued at $36,000. Finally, OFI Invest Asset Management bought a new position in Arthur J. Gallagher & Co. during the fourth quarter valued at $42,000. 85.53% of the stock is owned by institutional investors.

Insider Activity

In other news, Director Sherry S. Barrat sold 2,500 shares of the firm’s 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. This trade represents a 13.14 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Richard C. Cary sold 10,000 shares of the firm’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 transaction, the chief accounting officer now directly owns 69,774 shares in the company, valued at $22,536,304.26. This trade represents a 12.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 15,725 shares of company stock valued at $4,972,964. 1.60% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the company. 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. Wells Fargo & Company dropped their target price on Arthur J. Gallagher & Co. from $344.00 to $341.00 and set an “overweight” rating on the stock in a research report on Friday, January 31st. Piper Sandler upgraded 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 research report on Wednesday, January 8th. Royal Bank of Canada increased 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. Finally, Barclays increased their target price on Arthur J. Gallagher & Co. from $300.00 to $308.00 and gave the stock an “equal weight” rating in a research report on Thursday, November 21st. Two research 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’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $307.93.

Arthur J. Gallagher & Co. Stock Up 1.3 %

AJG opened at $329.32 on Tuesday. The stock has a market cap of $83.88 billion, a PE ratio of 50.51 and a beta of 0.75. The company has a quick ratio of 1.51, a current ratio of 1.51 and a debt-to-equity ratio of 0.63. Arthur J. Gallagher & Co. has a 52 week low of $230.08 and a 52 week high of $345.43. The business’s fifty day simple moving average is $313.21 and its 200 day simple moving average is $298.48.

Arthur J. Gallagher & Co. (NYSE:AJG) last released its 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%. As a group, research analysts expect that Arthur J. Gallagher & Co. will post 11.54 earnings per share 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. Investors of record on Friday, March 7th will be paid a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a yield of 0.79%. The ex-dividend date of this dividend is Friday, March 7th. This is a boost from Arthur J. Gallagher & Co.’s previous quarterly dividend of $0.60. Arthur J. Gallagher & Co.’s dividend payout ratio is currently 39.88%.

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.