BankPlus Trust Department Takes Position in Arthur J. Gallagher & Co. (NYSE:AJG)

BankPlus Trust Department acquired a new position in Arthur J. Gallagher & Co. (NYSE:AJG) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 5,292 shares of the financial services provider’s stock, valued at approximately $1,502,000.

Several other hedge funds have also added to or reduced their stakes in AJG. Allspring Global Investments Holdings LLC increased its stake in Arthur J. Gallagher & Co. by 0.5% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 10,216 shares of the financial services provider’s stock worth $2,874,000 after purchasing an additional 48 shares in the last quarter. International Assets Investment Management LLC lifted its holdings in shares of Arthur J. Gallagher & Co. by 29,927.4% in the third quarter. International Assets Investment Management LLC now owns 232,412 shares of the financial services provider’s stock valued at $65,394,000 after purchasing an additional 231,638 shares in the last quarter. Brighton Jones LLC boosted its position in Arthur J. Gallagher & Co. by 16.6% during the 3rd quarter. Brighton Jones LLC now owns 946 shares of the financial services provider’s stock worth $266,000 after acquiring an additional 135 shares during the last quarter. Assenagon Asset Management S.A. grew its position in Arthur J. Gallagher & Co. by 47.6% in the third quarter. Assenagon Asset Management S.A. now owns 6,547 shares of the financial services provider’s stock valued at $1,842,000 after purchasing an additional 2,110 shares in the last quarter. Finally, Ballentine Partners LLC lifted its position in Arthur J. Gallagher & Co. by 7.2% during the 3rd quarter. Ballentine Partners LLC now owns 1,165 shares of the financial services provider’s stock worth $328,000 after buying an additional 78 shares in the last quarter. Institutional investors and hedge funds own 85.53% of the company’s stock.

Analyst Upgrades and Downgrades

AJG has been the subject of several recent research reports. Royal Bank of Canada increased their price target on Arthur J. Gallagher & Co. from $320.00 to $340.00 and gave the company an “outperform” rating in a research report on Friday, January 31st. Wells Fargo & Company cut their price target on shares of Arthur J. Gallagher & Co. from $344.00 to $341.00 and set an “overweight” rating for the company in a research note on Friday, January 31st. 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 research note on Wednesday, January 8th. Truist Financial upped their price objective on Arthur J. Gallagher & Co. from $275.00 to $290.00 and gave the company a “hold” rating in a research note on Friday, January 31st. Finally, BMO Capital Markets lifted their price objective on shares of 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. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $307.00.

Insider Transactions at Arthur J. Gallagher & Co.

In other Arthur J. Gallagher & Co. news, CAO Richard C. Cary sold 10,000 shares of the business’s stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $322.99, for a total value of $3,229,900.00. Following the transaction, the chief accounting officer now directly owns 69,774 shares in the company, valued at $22,536,304.26. The trade was a 12.54 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Christopher E. Mead sold 2,900 shares of the stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $302.61, for a total value of $877,569.00. Following the transaction, the vice president now directly owns 14,674 shares of the company’s stock, valued at approximately $4,440,499.14. This trade represents a 16.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 15,725 shares of company stock worth $4,972,964 in the last quarter. 1.60% of the stock is currently owned by corporate insiders.

Arthur J. Gallagher & Co. Stock Up 0.0 %

AJG stock opened at $325.28 on Monday. 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 fifty-two week low of $230.08 and a fifty-two week high of $329.60. The stock’s 50 day simple moving average is $297.95 and its 200 day simple moving average is $293.49. The company has a market cap of $82.85 billion, a P/E ratio of 49.89 and a beta of 0.77.

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, 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, research analysts expect 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. Investors of record on Friday, March 7th will be given a dividend of $0.65 per share. This is a boost from Arthur J. Gallagher & Co.’s previous quarterly dividend of $0.60. The ex-dividend date is Friday, March 7th. This represents a $2.60 annualized dividend and a dividend yield of 0.80%. Arthur J. Gallagher & Co.’s payout ratio is presently 39.88%.

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.