NEOS Investment Management LLC Has $3.12 Million Stock Holdings in Arthur J. Gallagher & Co. (NYSE:AJG)

NEOS Investment Management LLC increased its stake in shares of Arthur J. Gallagher & Co. (NYSE:AJG) by 29.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,988 shares of the financial services provider’s stock after buying an additional 2,485 shares during the period. NEOS Investment Management LLC’s holdings in Arthur J. Gallagher & Co. were worth $3,119,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Valley National Advisers Inc. acquired a new position in shares of Arthur J. Gallagher & Co. during the fourth quarter worth approximately $25,000. MRP Capital Investments LLC bought a new position in Arthur J. Gallagher & Co. in the 4th quarter worth approximately $28,000. E Fund Management Hong Kong Co. Ltd. acquired a new position in Arthur J. Gallagher & Co. during the 4th quarter worth $35,000. Financial Life Planners acquired a new stake in shares of Arthur J. Gallagher & Co. in the 4th quarter valued at $36,000. Finally, OFI Invest Asset Management bought a new stake in shares of Arthur J. Gallagher & Co. during the fourth quarter worth $42,000. Institutional investors own 85.53% of the company’s stock.

Arthur J. Gallagher & Co. Trading Down 0.1 %

NYSE:AJG opened at $340.59 on Friday. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.51 and a quick ratio of 1.51. The business’s 50-day simple moving average is $321.73 and its 200-day simple moving average is $300.95. Arthur J. Gallagher & Co. has a fifty-two week low of $230.08 and a fifty-two week high of $345.43. The stock has a market capitalization of $87.10 billion, a PE ratio of 52.24 and a beta of 0.75.

Arthur J. Gallagher & Co. (NYSE:AJG) last announced its quarterly earnings results on Thursday, January 30th. The financial services provider reported $2.13 earnings per share for the quarter, beating analysts’ consensus estimates of $2.03 by $0.10. Arthur J. Gallagher & Co. had a net margin of 12.70% and a return on equity of 16.47%. Sell-side 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 declared a quarterly dividend, which was paid on Friday, March 21st. Shareholders of record on Friday, March 7th were paid a $0.65 dividend. This is an increase from Arthur J. Gallagher & Co.’s previous quarterly dividend of $0.60. The ex-dividend date of this dividend was Friday, March 7th. This represents a $2.60 annualized dividend and a dividend yield of 0.76%. Arthur J. Gallagher & Co.’s dividend payout ratio (DPR) is currently 39.88%.

Analyst Ratings Changes

A number of brokerages recently commented on AJG. Piper Sandler upgraded Arthur J. Gallagher & Co. from a “neutral” rating to an “overweight” rating and lifted their price objective for the stock from $285.00 to $315.00 in a research report on Wednesday, January 8th. Royal Bank of Canada lifted their price target on shares of 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. Truist Financial raised their price objective on shares of Arthur J. Gallagher & Co. from $275.00 to $290.00 and gave the company a “hold” rating in a research note on Friday, January 31st. Redburn Atlantic started coverage on shares of Arthur J. Gallagher & Co. in a research report on Tuesday. They set a “neutral” rating and a $352.00 target price for the company. Finally, Keefe, Bruyette & Woods raised their price target on Arthur J. Gallagher & Co. from $308.00 to $314.00 and gave the stock a “market perform” rating in a research report on Friday, March 21st. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $313.20.

Insider Activity

In other Arthur J. Gallagher & Co. news, VP Scott R. Hudson sold 7,510 shares of the business’s stock in a transaction dated Friday, March 21st. The shares were sold at an average price of $333.59, for a total transaction of $2,505,260.90. Following the sale, the vice president now directly owns 90,020 shares of the company’s stock, valued at $30,029,771.80. The trade was a 7.70 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, VP Christopher E. Mead sold 2,900 shares of the stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $302.61, for a total transaction of $877,569.00. Following the transaction, the vice president now owns 14,674 shares of the company’s stock, valued at approximately $4,440,499.14. This represents a 16.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 23,235 shares of company stock worth $7,478,224 over the last three months. Corporate insiders own 1.60% of the company’s stock.

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 segments: Brokerage, Risk Management, and Corporate. The Brokerage segment consists of retail and wholesale insurance brokerage operations.