Richardson Financial Services Inc. Sells 73 Shares of Arthur J. Gallagher & Co. (NYSE:AJG)

Richardson Financial Services Inc. cut its stake in shares of Arthur J. Gallagher & Co. (NYSE:AJG) by 31.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 162 shares of the financial services provider’s stock after selling 73 shares during the quarter. Richardson Financial Services Inc.’s holdings in Arthur J. Gallagher & Co. were worth $46,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Rakuten Securities Inc. increased 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 purchasing an additional 87 shares in the last quarter. Pin Oak Investment Advisors Inc. increased its stake in Arthur J. Gallagher & Co. by 543.8% in 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 second quarter valued at about $29,000. E Fund Management Hong Kong Co. Ltd. purchased a new position in shares of Arthur J. Gallagher & Co. in the fourth quarter valued at about $35,000. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA grew its position in shares of Arthur J. Gallagher & Co. by 47.6% during the third quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 152 shares of the financial services provider’s stock worth $44,000 after purchasing an additional 49 shares in the last quarter. Institutional investors own 85.53% of the company’s stock.

Analysts Set New Price Targets

Several research firms have weighed in on AJG. Truist Financial upped their price target on Arthur J. Gallagher & Co. from $275.00 to $290.00 and gave the stock a “hold” rating in a research note on Friday. Piper Sandler raised shares of Arthur J. Gallagher & Co. from a “neutral” rating to an “overweight” rating and raised their target price for the company from $285.00 to $315.00 in a research note on Wednesday, January 8th. Keefe, Bruyette & Woods boosted their price target on shares of Arthur J. Gallagher & Co. from $286.00 to $295.00 and gave the stock a “market perform” rating in a research note on Friday. TD Cowen upgraded Arthur J. Gallagher & Co. from a “hold” rating to a “buy” rating and raised their price objective for the company from $295.00 to $377.00 in a research report on Friday, January 10th. Finally, Barclays boosted their target price on 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 equities research analysts have rated the stock with a sell rating, six have given a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $307.00.

Arthur J. Gallagher & Co. Stock Up 1.1 %

Shares of AJG opened at $302.20 on Monday. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.64. The business has a fifty day moving average of $291.66 and a 200 day moving average of $288.82. The company has a market cap of $75.49 billion, a PE ratio of 57.56 and a beta of 0.76. Arthur J. Gallagher & Co. has a 52-week low of $227.43 and a 52-week high of $316.72.

Arthur J. Gallagher & Co. (NYSE:AJG) last released its earnings results on Thursday, January 30th. The financial services provider reported $2.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.03 by $0.10. Arthur J. Gallagher & Co. had a net margin of 10.40% and a return on equity of 19.12%. On average, sell-side analysts expect that Arthur J. Gallagher & Co. will post 10.04 EPS for the current year.

Arthur J. Gallagher & Co. Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 21st. Stockholders of record on Friday, March 7th will be issued a $0.65 dividend. This represents a $2.60 annualized dividend and a dividend yield of 0.86%. This is an increase from Arthur J. Gallagher & Co.’s previous quarterly dividend of $0.60. The ex-dividend date of this dividend is Friday, March 7th. Arthur J. Gallagher & Co.’s dividend payout ratio is presently 45.71%.

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