Foundation Wealth Management LLC PA Makes New Investment in Arthur J. Gallagher & Co. (NYSE:AJG)

Foundation Wealth Management LLC PA acquired a new stake in Arthur J. Gallagher & Co. (NYSE:AJG) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 2,540 shares of the financial services provider’s stock, valued at approximately $721,000.

Several other institutional investors have also recently added to or reduced their stakes in AJG. Wealth Enhancement Advisory Services LLC raised its holdings in Arthur J. Gallagher & Co. by 21.2% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 67,146 shares of the financial services provider’s stock worth $18,893,000 after purchasing an additional 11,752 shares in the last quarter. Principal Financial Group Inc. raised its stake in Arthur J. Gallagher & Co. by 231.2% during 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 lifted its position in Arthur J. Gallagher & Co. by 8.9% in the fourth quarter. Running Oak Capital LLC now owns 48,722 shares of the financial services provider’s stock valued at $13,830,000 after acquiring an additional 3,983 shares during the last quarter. MML Investors Services LLC boosted its stake in Arthur J. Gallagher & Co. by 1.2% in the third quarter. MML Investors Services LLC now owns 183,857 shares of the financial services provider’s stock valued at $51,732,000 after acquiring an additional 2,092 shares in the last quarter. Finally, Nordea Investment Management AB increased its position 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 in the last quarter. Hedge funds and other institutional investors own 85.53% of the company’s stock.

Insider Activity

In related news, Director Sherry S. Barrat sold 2,500 shares of Arthur J. Gallagher & Co. stock in a transaction 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 completion of the transaction, the director now directly owns 16,533 shares of the company’s stock, valued at approximately $5,031,487.89. The trade was a 13.14 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, VP Scott R. Hudson sold 7,510 shares of the company’s stock in a transaction on Friday, March 21st. The shares were sold at an average price of $333.59, for a total value of $2,505,260.90. Following the completion of the sale, the vice president now directly owns 90,020 shares in the company, valued at $30,029,771.80. This trade represents a 7.70 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 23,235 shares of company stock worth $7,478,224. Company insiders own 1.60% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on AJG. Wells Fargo & Company upped their target price on Arthur J. Gallagher & Co. from $341.00 to $370.00 and gave the company an “overweight” rating in a research report on Friday, March 21st. Keefe, Bruyette & Woods raised their target price 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, March 21st. TD Cowen upgraded shares of 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. Piper Sandler upgraded shares of Arthur J. Gallagher & Co. from a “neutral” rating to an “overweight” rating and lifted their price objective for the company from $285.00 to $315.00 in a research note on Wednesday, January 8th. Finally, Redburn Atlantic initiated coverage on shares of Arthur J. Gallagher & Co. in a research note on Tuesday. They set a “neutral” rating and a $352.00 target price for the company. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $313.20.

Arthur J. Gallagher & Co. Stock Down 0.2 %

AJG opened at $336.56 on Thursday. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.51 and a quick ratio of 1.51. Arthur J. Gallagher & Co. has a 12 month low of $230.08 and a 12 month high of $345.43. The stock has a market capitalization of $85.72 billion, a P/E ratio of 51.62 and a beta of 0.75. The business has a 50 day simple moving average of $319.90 and a 200-day simple moving average of $300.37.

Arthur J. Gallagher & Co. (NYSE:AJG) last issued its earnings results on Thursday, January 30th. The financial services provider reported $2.13 EPS 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 anticipate 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 was paid on Friday, March 21st. Shareholders of record on Friday, March 7th were issued a $0.65 dividend. The ex-dividend date was Friday, March 7th. This is a boost from Arthur J. Gallagher & Co.’s previous quarterly dividend of $0.60. This represents a $2.60 dividend on an annualized basis and a yield of 0.77%. Arthur J. Gallagher & Co.’s dividend payout ratio (DPR) 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.