Freedom Investment Management Inc. Has $457,000 Stake in Arthur J. Gallagher & Co. (NYSE:AJG)

Freedom Investment Management Inc. cut its holdings in Arthur J. Gallagher & Co. (NYSE:AJG) by 8.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,609 shares of the financial services provider’s stock after selling 144 shares during the quarter. Freedom Investment Management Inc.’s holdings in Arthur J. Gallagher & Co. were worth $457,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Wealth Enhancement Advisory Services LLC increased its holdings in Arthur J. Gallagher & Co. by 21.2% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 67,146 shares of the financial services provider’s stock valued at $18,893,000 after purchasing an additional 11,752 shares during the last quarter. Principal Financial Group Inc. boosted its stake in Arthur J. Gallagher & Co. by 231.2% during the 3rd quarter. Principal Financial Group Inc. now owns 885,796 shares of the financial services provider’s stock worth $249,237,000 after acquiring an additional 618,362 shares during the last quarter. Running Oak Capital LLC increased its stake in Arthur J. Gallagher & Co. by 8.9% in the fourth quarter. Running Oak Capital LLC now owns 48,722 shares of the financial services provider’s stock valued at $13,830,000 after purchasing an additional 3,983 shares in the last quarter. Nordea Investment Management AB raised its holdings in Arthur J. Gallagher & Co. by 16.7% in the fourth quarter. Nordea Investment Management AB now owns 22,436 shares of the financial services provider’s stock worth $6,381,000 after purchasing an additional 3,217 shares during the period. Finally, Campbell Newman Asset Management Inc. grew its holdings in shares of Arthur J. Gallagher & Co. by 13.9% in the 4th quarter. Campbell Newman Asset Management Inc. now owns 141,163 shares of the financial services provider’s stock valued at $40,069,000 after buying an additional 17,196 shares during the period. Institutional investors own 85.53% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. Truist Financial lifted their target price on Arthur J. Gallagher & Co. from $275.00 to $290.00 and gave the stock a “hold” rating in a report on Friday, January 31st. Barclays increased their target price on Arthur J. Gallagher & Co. from $308.00 to $346.00 and gave the stock an “equal weight” rating in a research note on Friday, April 11th. Redburn Atlantic began coverage on shares of Arthur J. Gallagher & Co. in a report on Tuesday, March 25th. They issued a “neutral” rating and a $352.00 price target for the company. Wells Fargo & Company boosted their price objective on shares of Arthur J. Gallagher & Co. from $370.00 to $372.00 and gave the company an “overweight” rating in a research report on Thursday, April 10th. Finally, 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 report on Wednesday, January 8th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and six have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $315.27.

Arthur J. Gallagher & Co. Trading Down 1.0 %

Shares of Arthur J. Gallagher & Co. stock opened at $329.29 on Monday. The stock has a market cap of $84.21 billion, a P/E ratio of 50.50 and a beta of 0.64. 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 12-month low of $232.27 and a 12-month high of $350.70. The business’s 50 day moving average is $330.37 and its 200-day moving average is $306.10.

Arthur J. Gallagher & Co. (NYSE:AJG) last announced its quarterly 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 net margin of 12.70% and a return on equity of 16.47%. Equities research analysts predict that Arthur J. Gallagher & Co. will post 11.54 earnings per share for the current fiscal year.

Arthur J. Gallagher & Co. Increases Dividend

The firm also recently disclosed 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 a positive change 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 yield of 0.79%. Arthur J. Gallagher & Co.’s dividend payout ratio is currently 39.88%.

Insider Activity

In related news, Director Sherry S. Barrat sold 2,500 shares of Arthur J. Gallagher & Co. stock in a transaction dated Monday, February 3rd. The shares were 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 approximately $5,031,487.89. The trade was a 13.14 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CAO Richard C. Cary sold 10,000 shares of the stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $322.99, for a total transaction of $3,229,900.00. Following the completion of the transaction, the chief accounting officer now directly owns 69,774 shares in the company, valued at approximately $22,536,304.26. This represents a 12.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 23,235 shares of company stock valued at $7,478,224 over the last three months. Insiders own 1.30% 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.