SteelPeak Wealth LLC Purchases 104 Shares of Arthur J. Gallagher & Co. (NYSE:AJG)

SteelPeak Wealth LLC lifted its holdings in Arthur J. Gallagher & Co. (NYSE:AJG) by 7.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,477 shares of the financial services provider’s stock after acquiring an additional 104 shares during the quarter. SteelPeak Wealth LLC’s holdings in Arthur J. Gallagher & Co. were worth $419,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Strategic Investment Solutions Inc. IL bought a new stake in shares of Arthur J. Gallagher & Co. during the second quarter worth $26,000. Pin Oak Investment Advisors Inc. lifted its position in Arthur J. Gallagher & Co. by 543.8% during the 3rd quarter. Pin Oak Investment Advisors Inc. now owns 103 shares of the financial services provider’s stock worth $28,000 after buying an additional 87 shares in the last quarter. Quarry LP bought a new stake in Arthur J. Gallagher & Co. during the 2nd quarter worth about $29,000. Rakuten Securities Inc. raised its stake in shares of Arthur J. Gallagher & Co. by 580.0% in the third quarter. Rakuten Securities Inc. now owns 102 shares of the financial services provider’s stock worth $29,000 after acquiring an additional 87 shares during the last quarter. Finally, E Fund Management Hong Kong Co. Ltd. acquired a new position in shares of Arthur J. Gallagher & Co. during the fourth quarter worth approximately $35,000. 85.53% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

AJG has been the subject of a number of research reports. Keefe, Bruyette & Woods raised shares of Arthur J. Gallagher & Co. from an “underperform” rating to a “market perform” rating and lowered their price target for the company from $292.00 to $286.00 in a report on Friday, January 10th. Wells Fargo & Company boosted their target price on Arthur J. Gallagher & Co. from $315.00 to $344.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 10th. Piper Sandler upgraded Arthur J. Gallagher & Co. from a “neutral” rating to an “overweight” rating and raised their price target for the company from $285.00 to $315.00 in a report on Wednesday, January 8th. Jefferies Financial Group upped their target price on shares of Arthur J. Gallagher & Co. from $269.00 to $274.00 and gave the company a “hold” rating in a research report on Wednesday, October 9th. Finally, Barclays lifted their price target on shares of 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 given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $304.07.

Arthur J. Gallagher & Co. Stock Performance

AJG stock opened at $299.06 on Friday. Arthur J. Gallagher & Co. has a 1-year low of $227.43 and a 1-year high of $316.72. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 0.64. The firm has a market cap of $74.70 billion, a PE ratio of 56.96 and a beta of 0.76. The business’s 50-day moving average price is $291.78 and its two-hundred day moving average price is $288.38.

Arthur J. Gallagher & Co. (NYSE:AJG) last released its quarterly earnings data on Thursday, January 30th. The financial services provider reported $2.13 earnings per share for the quarter, beating the consensus estimate of $2.03 by $0.10. Arthur J. Gallagher & Co. had a return on equity of 19.12% and a net margin of 10.40%. As a group, research analysts forecast that Arthur J. Gallagher & Co. will post 10.05 earnings per share for the current year.

Arthur J. Gallagher & Co. Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 21st. Investors of record on Friday, March 7th will be issued a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a dividend yield of 0.87%. This is a positive change from Arthur J. Gallagher & Co.’s previous quarterly dividend of $0.60. The ex-dividend date is Friday, March 7th. Arthur J. Gallagher & Co.’s dividend payout ratio (DPR) is presently 45.71%.

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