Arthur J. Gallagher & Co. (NYSE:AJG) Shares Bought by Spire Wealth Management

Spire Wealth Management raised its position in Arthur J. Gallagher & Co. (NYSE:AJG) by 13.9% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 2,374 shares of the financial services provider’s stock after purchasing an additional 289 shares during the period. Spire Wealth Management’s holdings in Arthur J. Gallagher & Co. were worth $674,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. Principal Financial Group Inc. lifted its position in shares of Arthur J. Gallagher & Co. by 231.2% in the third quarter. Principal Financial Group Inc. now owns 885,796 shares of the financial services provider’s stock valued at $249,237,000 after acquiring an additional 618,362 shares in the last quarter. FMR LLC lifted its position in shares of Arthur J. Gallagher & Co. by 4.9% in the third quarter. FMR LLC now owns 12,305,478 shares of the financial services provider’s stock valued at $3,462,392,000 after acquiring an additional 580,134 shares in the last quarter. Assenagon Asset Management S.A. lifted its position in shares of Arthur J. Gallagher & Co. by 6,581.9% in the fourth quarter. Assenagon Asset Management S.A. now owns 437,464 shares of the financial services provider’s stock valued at $124,174,000 after acquiring an additional 430,917 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its position in shares of Arthur J. Gallagher & Co. by 13.6% in the third quarter. Massachusetts Financial Services Co. MA now owns 3,196,992 shares of the financial services provider’s stock valued at $899,538,000 after acquiring an additional 383,130 shares in the last quarter. Finally, Nomura Asset Management Co. Ltd. lifted its position in shares of Arthur J. Gallagher & Co. by 431.9% in the third quarter. Nomura Asset Management Co. Ltd. now owns 323,880 shares of the financial services provider’s stock valued at $91,130,000 after acquiring an additional 262,987 shares in the last quarter. Institutional investors and hedge funds own 85.53% of the company’s stock.

Arthur J. Gallagher & Co. Price Performance

AJG stock opened at $312.70 on Wednesday. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.06 and a current ratio of 1.51. Arthur J. Gallagher & Co. has a 1 year low of $230.08 and a 1 year high of $316.72. The firm has a market cap of $78.11 billion, a P/E ratio of 47.96 and a beta of 0.77. The stock has a 50-day simple moving average of $291.71 and a 200-day simple moving average of $289.21.

Arthur J. Gallagher & Co. (NYSE:AJG) last posted its earnings results on Thursday, January 30th. The financial services provider reported $2.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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%. On average, equities analysts predict that Arthur J. Gallagher & Co. will post 11.53 earnings per share for the current fiscal year.

Arthur J. Gallagher & Co. Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 21st. Stockholders of record on Friday, March 7th will be paid a $0.65 dividend. The ex-dividend date is Friday, March 7th. This represents a $2.60 dividend on an annualized basis and a dividend yield of 0.83%. This is a positive change from Arthur J. Gallagher & Co.’s previous quarterly dividend of $0.60. Arthur J. Gallagher & Co.’s dividend payout ratio (DPR) is 36.81%.

Analyst Ratings Changes

Several equities analysts recently weighed in on the company. Wells Fargo & Company reduced their target price on Arthur J. Gallagher & Co. from $344.00 to $341.00 and set an “overweight” rating on the stock in a research report on Friday, January 31st. BMO Capital Markets increased their target price on Arthur J. Gallagher & Co. from $312.00 to $325.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 12th. Keefe, Bruyette & Woods increased their target price on Arthur J. Gallagher & Co. from $286.00 to $295.00 and gave the stock a “market perform” rating in a research report on Friday, January 31st. Royal Bank of Canada increased their target price on 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 increased their target price on 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. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $307.00.

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