Longboard Asset Management LP Takes $262,000 Position in Arthur J. Gallagher & Co. (NYSE:AJG)

Longboard Asset Management LP bought a new position in Arthur J. Gallagher & Co. (NYSE:AJG) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 924 shares of the financial services provider’s stock, valued at approximately $262,000. Arthur J. Gallagher & Co. comprises about 0.7% of Longboard Asset Management LP’s portfolio, making the stock its 12th biggest position.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Baltimore Washington Financial Advisors Inc. increased its stake in Arthur J. Gallagher & Co. by 13.7% in the 4th quarter. Baltimore Washington Financial Advisors Inc. now owns 51,745 shares of the financial services provider’s stock worth $14,688,000 after purchasing an additional 6,248 shares in the last quarter. Financial Life Planners acquired a new position in shares of Arthur J. Gallagher & Co. in the fourth quarter worth about $36,000. Catalina Capital Group LLC increased its position in shares of Arthur J. Gallagher & Co. by 1.0% in the fourth quarter. Catalina Capital Group LLC now owns 3,380 shares of the financial services provider’s stock worth $959,000 after acquiring an additional 35 shares in the last quarter. Chicago Capital LLC lifted its position in shares of Arthur J. Gallagher & Co. by 7.0% in the 4th quarter. Chicago Capital LLC now owns 10,555 shares of the financial services provider’s stock valued at $2,996,000 after acquiring an additional 690 shares in the last quarter. Finally, CENTRAL TRUST Co boosted its stake in Arthur J. Gallagher & Co. by 1.0% in the 4th quarter. CENTRAL TRUST Co now owns 21,281 shares of the financial services provider’s stock worth $6,041,000 after purchasing an additional 208 shares during the period. 85.53% of the stock is owned by institutional investors and hedge funds.

Arthur J. Gallagher & Co. Stock Up 2.4 %

Arthur J. Gallagher & Co. stock opened at $309.05 on Tuesday. The company has a market capitalization of $77.20 billion, a P/E ratio of 47.40 and a beta of 0.77. Arthur J. Gallagher & Co. has a 1-year low of $230.08 and a 1-year high of $316.72. The firm’s fifty day simple moving average is $291.66 and its 200-day simple moving average is $288.94. The company has a current ratio of 1.51, a quick ratio of 1.06 and a debt-to-equity ratio of 0.63.

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 for the quarter, topping 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%. Sell-side analysts forecast 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 declared a quarterly dividend, which will be paid on Friday, March 21st. Shareholders of record on Friday, March 7th will be issued a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a yield of 0.84%. The ex-dividend date is Friday, March 7th. This is an increase from Arthur J. Gallagher & Co.’s previous quarterly dividend of $0.60. Arthur J. Gallagher & Co.’s dividend payout ratio (DPR) is 36.81%.

Analysts Set New Price Targets

AJG has been the topic of several recent analyst reports. Piper Sandler raised shares of Arthur J. Gallagher & Co. from a “neutral” rating to an “overweight” rating and boosted their target price for the company from $285.00 to $315.00 in a research note on Wednesday, January 8th. TD Cowen raised Arthur J. Gallagher & Co. from a “hold” rating to a “buy” rating and upped their price target for the company from $295.00 to $377.00 in a research report on Friday, January 10th. BMO Capital Markets raised their price objective 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. Jefferies Financial Group upped their target price on Arthur J. Gallagher & Co. from $269.00 to $274.00 and gave the company a “hold” rating in a report on Wednesday, October 9th. Finally, Wells Fargo & Company decreased 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 report on Friday. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Arthur J. Gallagher & Co. has an average rating of “Hold” and an average target price of $307.00.

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.