Arthur J. Gallagher & Co. (NYSE:AJG) Shares Sold by Family Legacy Inc.

Family Legacy Inc. lowered its stake in Arthur J. Gallagher & Co. (NYSE:AJG) by 0.1% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 22,645 shares of the financial services provider’s stock after selling 34 shares during the period. Arthur J. Gallagher & Co. makes up 2.2% of Family Legacy Inc.’s portfolio, making the stock its 4th largest holding. Family Legacy Inc.’s holdings in Arthur J. Gallagher & Co. were worth $6,465,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Vanguard Group Inc. grew its stake in shares of Arthur J. Gallagher & Co. by 14.9% in the fourth quarter. Vanguard Group Inc. now owns 29,672,134 shares of the financial services provider’s stock valued at $8,422,435,000 after acquiring an additional 3,851,661 shares in the last quarter. State Street Corp increased its holdings in shares of Arthur J. Gallagher & Co. by 0.5% during the third quarter. State Street Corp now owns 8,932,007 shares of the financial services provider’s stock worth $2,513,199,000 after purchasing an additional 47,656 shares during the period. Geode Capital Management LLC raised its position in shares of Arthur J. Gallagher & Co. by 1.5% in the third quarter. Geode Capital Management LLC now owns 5,490,728 shares of the financial services provider’s stock valued at $1,541,044,000 after buying an additional 79,429 shares in the last quarter. Norges Bank bought a new stake in shares of Arthur J. Gallagher & Co. in the fourth quarter valued at approximately $1,421,591,000. Finally, Wellington Management Group LLP grew its position in Arthur J. Gallagher & Co. by 162.0% during the fourth quarter. Wellington Management Group LLP now owns 2,822,319 shares of the financial services provider’s stock worth $801,115,000 after buying an additional 1,745,283 shares in the last quarter. 85.53% of the stock is owned by institutional investors.

Insider Transactions at Arthur J. Gallagher & Co.

In related news, Director Sherry S. Barrat sold 2,500 shares of the firm’s stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $304.33, for a total transaction of $760,825.00. Following the completion of the sale, the director now owns 16,533 shares of the company’s stock, valued at $5,031,487.89. This trade represents a 13.14 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Scott R. Hudson sold 7,510 shares of the business’s stock in a transaction that occurred on Friday, March 21st. The shares were sold at an average price of $333.59, for a total value of $2,505,260.90. Following the completion of the transaction, the vice president now directly owns 90,020 shares in the company, valued at approximately $30,029,771.80. This trade represents a 7.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 23,235 shares of company stock worth $7,478,224. Company insiders own 1.60% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the company. TD Cowen upgraded Arthur J. Gallagher & Co. from a “hold” rating to a “buy” rating and upped their target price for the company from $295.00 to $377.00 in a research report on Friday, January 10th. Wells Fargo & Company increased their price objective on shares of Arthur J. Gallagher & Co. from $341.00 to $370.00 and gave the stock an “overweight” rating in a research note on Friday, March 21st. Keefe, Bruyette & Woods boosted their target price on shares of Arthur J. Gallagher & Co. from $308.00 to $314.00 and gave the company a “market perform” rating in a research report on Friday, March 21st. Royal Bank of Canada increased 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. Finally, Truist Financial upped their target price on Arthur J. Gallagher & Co. from $275.00 to $290.00 and gave the stock a “hold” rating in a research note on Friday, January 31st. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $313.20.

Arthur J. Gallagher & Co. Stock Down 0.1 %

Shares of NYSE AJG opened at $340.59 on Monday. Arthur J. Gallagher & Co. has a 1 year low of $230.08 and a 1 year high of $345.43. 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 firm has a market cap of $87.10 billion, a PE ratio of 52.24 and a beta of 0.75. The company has a 50 day simple moving average of $321.73 and a 200 day simple moving average of $301.01.

Arthur J. Gallagher & Co. (NYSE:AJG) last issued its quarterly earnings results on Thursday, January 30th. The financial services provider reported $2.13 EPS for the quarter, topping 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%. On average, research analysts forecast that Arthur J. Gallagher & Co. will post 11.54 EPS for the current year.

Arthur J. Gallagher & Co. Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 21st. Investors of record on Friday, March 7th were issued a $0.65 dividend. The ex-dividend date of this dividend was Friday, March 7th. 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 0.76%. Arthur J. Gallagher & Co.’s dividend payout ratio is presently 39.88%.

Arthur J. Gallagher & Co. Company 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.