Parvin Asset Management LLC Makes New Investment in Arthur J. Gallagher & Co. (NYSE:AJG)

Parvin Asset Management LLC bought a new position in Arthur J. Gallagher & Co. (NYSE:AJG) in the fourth quarter, according to its most recent disclosure with the SEC. The firm bought 125 shares of the financial services provider’s stock, valued at approximately $35,000.

Several other institutional investors have also modified their holdings of the stock. Valley National Advisers Inc. acquired a new stake in Arthur J. Gallagher & Co. during the fourth quarter worth about $25,000. MRP Capital Investments LLC acquired a new stake in shares of Arthur J. Gallagher & Co. during the 4th quarter worth approximately $28,000. New Age Alpha Advisors LLC raised its position in shares of Arthur J. Gallagher & Co. by 81.7% during the 4th quarter. New Age Alpha Advisors LLC now owns 109 shares of the financial services provider’s stock valued at $31,000 after buying an additional 49 shares during the period. Johnson Financial Group Inc. lifted its holdings in Arthur J. Gallagher & Co. by 205.4% in the fourth quarter. Johnson Financial Group Inc. now owns 113 shares of the financial services provider’s stock valued at $34,000 after acquiring an additional 76 shares during the last quarter. Finally, E Fund Management Hong Kong Co. Ltd. purchased a new position in Arthur J. Gallagher & Co. in the fourth quarter worth approximately $35,000. Hedge funds and other institutional investors own 85.53% of the company’s stock.

Arthur J. Gallagher & Co. Trading Up 1.0 %

Shares of NYSE:AJG opened at $320.27 on Thursday. Arthur J. Gallagher & Co. has a 52 week low of $234.33 and a 52 week high of $350.70. The company’s 50 day moving average is $330.32 and its two-hundred day moving average is $307.80. The company has a market cap of $81.90 billion, a PE ratio of 49.12 and a beta of 0.64. The company has a current ratio of 1.51, a quick ratio of 1.51 and a debt-to-equity ratio of 0.63.

Arthur J. Gallagher & Co. (NYSE:AJG) last posted its earnings results on Thursday, January 30th. The financial services provider reported $2.13 EPS for the quarter, beating the consensus estimate 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%. Equities analysts predict that Arthur J. Gallagher & Co. will post 11.54 earnings per share for the current fiscal year.

Arthur J. Gallagher & Co. Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 20th. Stockholders of record on Friday, June 6th will be issued a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a dividend yield of 0.81%. Arthur J. Gallagher & Co.’s payout ratio is currently 39.88%.

Insider Transactions at Arthur J. Gallagher & Co.

In other news, Director David S. Johnson sold 325 shares of Arthur J. Gallagher & Co. stock in a transaction dated Wednesday, February 12th. The stock was sold at an average price of $322.06, for a total transaction of $104,669.50. Following the sale, the director now owns 44,783 shares in the company, valued at approximately $14,422,812.98. The trade was a 0.72 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Christopher E. Mead sold 2,900 shares of the company’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $302.61, for a total value of $877,569.00. Following the completion of the sale, the vice president now directly owns 14,674 shares of the company’s stock, valued at approximately $4,440,499.14. This trade represents a 16.50 % 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 valued at $7,478,224. Corporate insiders own 1.60% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently commented on AJG. Barclays upped their price target on Arthur J. Gallagher & Co. from $308.00 to $346.00 and gave the company an “equal weight” rating in a research note on Friday, April 11th. Redburn Atlantic initiated coverage on shares of Arthur J. Gallagher & Co. in a research report on Tuesday, March 25th. They issued a “neutral” rating and a $352.00 target price on the stock. Royal Bank of Canada lifted their price target on shares of Arthur J. Gallagher & Co. from $320.00 to $340.00 and gave the company an “outperform” rating in a research report on Friday, January 31st. Truist Financial increased their price objective on shares of Arthur J. Gallagher & Co. from $275.00 to $290.00 and gave the stock a “hold” rating in a research report on Friday, January 31st. Finally, Wells Fargo & Company raised their price target on Arthur J. Gallagher & Co. from $370.00 to $372.00 and gave the stock an “overweight” rating in a research report on Thursday, April 10th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $315.27.

About Arthur J. Gallagher & Co.

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.