Intech Investment Management LLC Sells 25,546 Shares of Arthur J. Gallagher & Co. (NYSE:AJG)

Intech Investment Management LLC lessened its position in Arthur J. Gallagher & Co. (NYSE:AJG) by 42.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 34,352 shares of the financial services provider’s stock after selling 25,546 shares during the quarter. Intech Investment Management LLC’s holdings in Arthur J. Gallagher & Co. were worth $9,751,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the company. FMR LLC increased its holdings in shares of Arthur J. Gallagher & Co. by 4.9% during the 3rd quarter. FMR LLC now owns 12,305,478 shares of the financial services provider’s stock worth $3,462,392,000 after purchasing an additional 580,134 shares during the period. State Street Corp increased its holdings in shares of Arthur J. Gallagher & Co. by 0.5% during the 3rd quarter. State Street Corp now owns 8,932,007 shares of the financial services provider’s stock worth $2,513,199,000 after purchasing an additional 47,656 shares during the period. Geode Capital Management LLC increased its holdings in shares of Arthur J. Gallagher & Co. by 1.5% during the 3rd quarter. Geode Capital Management LLC now owns 5,490,728 shares of the financial services provider’s stock worth $1,541,044,000 after purchasing an additional 79,429 shares during the period. Massachusetts Financial Services Co. MA increased its holdings in shares of Arthur J. Gallagher & Co. by 13.6% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 3,196,992 shares of the financial services provider’s stock worth $899,538,000 after purchasing an additional 383,130 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of Arthur J. Gallagher & Co. by 10.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,029,256 shares of the financial services provider’s stock worth $576,004,000 after purchasing an additional 184,960 shares during the period. Institutional investors own 85.53% of the company’s stock.

Insider Transactions at Arthur J. Gallagher & Co.

In other news, VP Christopher E. Mead sold 2,900 shares of the company’s stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $302.61, for a total transaction of $877,569.00. Following the transaction, the vice president now directly owns 14,674 shares in the company, valued at approximately $4,440,499.14. This represents a 16.50 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Sherry S. Barrat sold 2,500 shares of the company’s stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $304.33, for a total transaction of $760,825.00. Following the transaction, the director now owns 16,533 shares in the company, valued at $5,031,487.89. The trade was a 13.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 15,725 shares of company stock worth $4,972,964. Corporate insiders own 1.60% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on AJG shares. TD Cowen upgraded shares of Arthur J. Gallagher & Co. from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $295.00 to $377.00 in a report on Friday, January 10th. Piper Sandler upgraded shares of Arthur J. Gallagher & Co. from a “neutral” rating to an “overweight” rating and boosted their price objective for the stock from $285.00 to $315.00 in a report on Wednesday, January 8th. Barclays upped their target price on shares of Arthur J. Gallagher & Co. from $300.00 to $308.00 and gave the company an “equal weight” rating in a research note on Thursday, November 21st. Royal Bank of Canada upped their target price on shares of Arthur J. Gallagher & Co. from $320.00 to $340.00 and gave the company an “outperform” rating in a research note on Friday, January 31st. Finally, Wells Fargo & Company lowered their target price on shares of Arthur J. Gallagher & Co. from $344.00 to $341.00 and set an “overweight” rating on the stock in a research note on Friday, January 31st. Two analysts have rated the stock with a sell rating, six have given a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $307.93.

Arthur J. Gallagher & Co. Price Performance

Shares of Arthur J. Gallagher & Co. stock opened at $329.32 on Tuesday. The company has a current ratio of 1.51, a quick ratio of 1.51 and a debt-to-equity ratio of 0.63. The stock has a market capitalization of $83.88 billion, a price-to-earnings ratio of 50.51 and a beta of 0.75. Arthur J. Gallagher & Co. has a 1-year low of $230.08 and a 1-year high of $345.43. The firm’s 50-day moving average price is $313.21 and its two-hundred day moving average price is $298.48.

Arthur J. Gallagher & Co. (NYSE:AJG) last issued its quarterly earnings data on Thursday, January 30th. The financial services provider reported $2.13 earnings per share for the quarter, topping the consensus estimate 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%. On average, equities 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 business also recently announced a quarterly dividend, which will be paid on Friday, March 21st. Stockholders of record on Friday, March 7th will be given a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a dividend yield of 0.79%. 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 is presently 39.88%.

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.