Corebridge Financial Inc. Has $19.75 Million Holdings in Arthur J. Gallagher & Co. (NYSE:AJG)

Corebridge Financial Inc. raised its stake in Arthur J. Gallagher & Co. (NYSE:AJG) by 9.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 69,567 shares of the financial services provider’s stock after acquiring an additional 5,911 shares during the period. Corebridge Financial Inc.’s holdings in Arthur J. Gallagher & Co. were worth $19,747,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in AJG. Wealth Enhancement Advisory Services LLC lifted its holdings in Arthur J. Gallagher & Co. by 21.2% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 67,146 shares of the financial services provider’s stock valued at $18,893,000 after purchasing an additional 11,752 shares during the last quarter. Principal Financial Group Inc. boosted its holdings in shares of Arthur J. Gallagher & Co. by 231.2% in the 3rd quarter. Principal Financial Group Inc. now owns 885,796 shares of the financial services provider’s stock worth $249,237,000 after acquiring an additional 618,362 shares in the last quarter. Running Oak Capital LLC grew its position in Arthur J. Gallagher & Co. by 8.9% during the 4th quarter. Running Oak Capital LLC now owns 48,722 shares of the financial services provider’s stock worth $13,830,000 after acquiring an additional 3,983 shares during the last quarter. MML Investors Services LLC raised its position in Arthur J. Gallagher & Co. by 1.2% in the 3rd quarter. MML Investors Services LLC now owns 183,857 shares of the financial services provider’s stock valued at $51,732,000 after purchasing an additional 2,092 shares during the last quarter. Finally, Nordea Investment Management AB grew its holdings in shares of Arthur J. Gallagher & Co. by 16.7% during the fourth quarter. Nordea Investment Management AB now owns 22,436 shares of the financial services provider’s stock worth $6,381,000 after purchasing an additional 3,217 shares during the last quarter. 85.53% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research analysts recently issued reports on AJG shares. Keefe, Bruyette & Woods upped their price target on shares of Arthur J. Gallagher & Co. from $308.00 to $314.00 and gave the stock a “market perform” rating in a research report on Friday. TD Cowen raised shares of Arthur J. Gallagher & Co. from a “hold” rating to a “buy” rating and raised their price target for the company from $295.00 to $377.00 in a report on Friday, January 10th. Piper Sandler raised Arthur J. Gallagher & Co. from a “neutral” rating to an “overweight” rating and upped their price objective for the stock from $285.00 to $315.00 in a report on Wednesday, January 8th. Truist Financial boosted 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. Finally, The Goldman Sachs Group lowered Arthur J. Gallagher & Co. from a “buy” rating to a “neutral” rating and set a $313.00 price objective for the company. in a research report on Monday, November 25th. Two 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’s stock. According to MarketBeat, Arthur J. Gallagher & Co. presently has an average rating of “Hold” and an average price target of $310.43.

Insider Transactions at Arthur J. Gallagher & Co.

In related news, Director David S. Johnson sold 325 shares of the company’s stock in a transaction on Wednesday, February 12th. The shares were sold at an average price of $322.06, for a total value of $104,669.50. Following the completion of the transaction, the director now directly owns 44,783 shares of the company’s stock, valued at approximately $14,422,812.98. This represents a 0.72 % decrease in their position. The sale 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 Arthur J. Gallagher & Co. 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 in the company, valued at $4,440,499.14. This represents a 16.50 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 23,235 shares of company stock valued at $7,478,224 over the last quarter. Corporate insiders own 1.60% of the company’s stock.

Arthur J. Gallagher & Co. Price Performance

Shares of AJG stock opened at $338.10 on Tuesday. The firm has a market capitalization of $86.11 billion, a price-to-earnings ratio of 51.86 and a beta of 0.75. Arthur J. Gallagher & Co. has a 12-month low of $230.08 and a 12-month high of $345.43. The company has a quick ratio of 1.51, a current ratio of 1.51 and a debt-to-equity ratio of 0.63. The firm has a fifty day moving average of $318.01 and a 200-day moving average of $299.81.

Arthur J. Gallagher & Co. (NYSE:AJG) last announced its quarterly 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 return on equity of 16.47% and a net margin of 12.70%. On average, equities research analysts forecast that Arthur J. Gallagher & Co. will post 11.54 earnings per share for the current year.

Arthur J. Gallagher & Co. Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 21st. Stockholders of record on Friday, March 7th were issued a $0.65 dividend. This represents a $2.60 annualized dividend and a dividend yield of 0.77%. The ex-dividend date of this dividend was Friday, March 7th. This is a boost from Arthur J. Gallagher & Co.’s previous quarterly dividend of $0.60. Arthur J. Gallagher & Co.’s dividend payout ratio is 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 segments: Brokerage, Risk Management, and Corporate. The Brokerage segment consists of retail and wholesale insurance brokerage operations.