Pinnacle Financial Partners Inc Buys 80 Shares of Arthur J. Gallagher & Co. (NYSE:AJG)

Pinnacle Financial Partners Inc boosted its holdings in shares of Arthur J. Gallagher & Co. (NYSE:AJG) by 3.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 2,340 shares of the financial services provider’s stock after purchasing an additional 80 shares during the quarter. Pinnacle Financial Partners Inc’s holdings in Arthur J. Gallagher & Co. were worth $664,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. ING Groep NV grew its holdings in Arthur J. Gallagher & Co. by 2.2% during the 4th quarter. ING Groep NV now owns 11,290 shares of the financial services provider’s stock valued at $3,205,000 after buying an additional 247 shares in the last quarter. Boston Financial Mangement LLC raised its position in shares of Arthur J. Gallagher & Co. by 0.9% in the 4th quarter. Boston Financial Mangement LLC now owns 98,118 shares of the financial services provider’s stock worth $27,851,000 after acquiring an additional 859 shares in the last quarter. Concurrent Investment Advisors LLC grew its stake in Arthur J. Gallagher & Co. by 4.7% during the 4th quarter. Concurrent Investment Advisors LLC now owns 7,979 shares of the financial services provider’s stock worth $2,265,000 after buying an additional 355 shares during the last quarter. Wealth Alliance purchased a new position in Arthur J. Gallagher & Co. during the 4th quarter worth $253,000. Finally, Bryn Mawr Capital Management LLC grew its stake in Arthur J. Gallagher & Co. by 310.8% during the 4th quarter. Bryn Mawr Capital Management LLC now owns 14,480 shares of the financial services provider’s stock worth $4,110,000 after buying an additional 10,955 shares during the last quarter. Institutional investors own 85.53% of the company’s stock.

Insider Activity

In other Arthur J. Gallagher & Co. news, Director David S. Johnson sold 325 shares of the firm’s stock in a transaction on Wednesday, February 12th. The stock was sold at an average price of $322.06, for a total value of $104,669.50. Following the sale, the director now directly owns 44,783 shares in the company, valued at $14,422,812.98. This trade represents a 0.72 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Christopher E. Mead sold 2,900 shares of the firm’s 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 completion of the sale, the vice president now 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 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.

Arthur J. Gallagher & Co. Stock Up 0.0 %

Shares of NYSE AJG opened at $325.28 on Monday. The stock has a market cap of $82.85 billion, a P/E ratio of 49.89 and a beta of 0.77. 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. has a 12-month low of $230.08 and a 12-month high of $329.60. The business’s fifty day simple moving average is $297.95 and its 200-day simple moving average is $293.49.

Arthur J. Gallagher & Co. (NYSE:AJG) last announced its quarterly earnings data on Thursday, January 30th. The financial services provider reported $2.13 earnings per share (EPS) for the quarter, beating 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%. As a group, equities analysts predict that Arthur J. Gallagher & Co. will post 11.54 EPS for the current fiscal year.

Arthur J. Gallagher & Co. Increases Dividend

The business also recently disclosed 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. This is a boost from Arthur J. Gallagher & Co.’s previous quarterly dividend of $0.60. This represents a $2.60 annualized dividend and a dividend yield of 0.80%. The ex-dividend date of this dividend is Friday, March 7th. Arthur J. Gallagher & Co.’s dividend payout ratio (DPR) is presently 39.88%.

Analysts Set New Price Targets

Several analysts have weighed in on AJG shares. Royal Bank of Canada boosted their price target on 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. Piper Sandler raised Arthur J. Gallagher & Co. from a “neutral” rating to an “overweight” rating and upped their price target for the stock from $285.00 to $315.00 in a report on Wednesday, January 8th. BMO Capital Markets upped their price target on Arthur J. Gallagher & Co. from $312.00 to $325.00 and gave the stock an “outperform” rating in a report on Tuesday, November 12th. Barclays increased their target price on Arthur J. Gallagher & Co. from $300.00 to $308.00 and gave the company an “equal weight” rating in a report on Thursday, November 21st. Finally, The Goldman Sachs Group cut Arthur J. Gallagher & Co. from a “buy” rating to a “neutral” rating and set a $313.00 price target for the company. in a report on Monday, November 25th. Two analysts have rated the stock with a sell rating, six have given a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $307.00.

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.