Mediolanum International Funds Ltd Sells 1,167 Shares of Arthur J. Gallagher & Co. (NYSE:AJG)

Mediolanum International Funds Ltd cut its holdings in shares of Arthur J. Gallagher & Co. (NYSE:AJG) by 2.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 46,594 shares of the financial services provider’s stock after selling 1,167 shares during the quarter. Mediolanum International Funds Ltd’s holdings in Arthur J. Gallagher & Co. were worth $13,222,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Northwestern Mutual Wealth Management Co. raised its stake in Arthur J. Gallagher & Co. by 7.5% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 8,421 shares of the financial services provider’s stock valued at $2,183,000 after purchasing an additional 586 shares during the last quarter. Quarry LP acquired a new position in shares of Arthur J. Gallagher & Co. during the second quarter valued at about $29,000. EP Wealth Advisors LLC grew its position in Arthur J. Gallagher & Co. by 21.3% during the second quarter. EP Wealth Advisors LLC now owns 1,122 shares of the financial services provider’s stock worth $291,000 after buying an additional 197 shares in the last quarter. Cetera Investment Advisers increased its stake in Arthur J. Gallagher & Co. by 12.9% during the second quarter. Cetera Investment Advisers now owns 61,484 shares of the financial services provider’s stock valued at $15,943,000 after acquiring an additional 7,035 shares during the period. Finally, Strategic Investment Solutions Inc. IL acquired a new position in Arthur J. Gallagher & Co. in the 2nd quarter valued at approximately $26,000. 85.53% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

AJG has been the topic of a number of research reports. Truist Financial boosted their price objective on Arthur J. Gallagher & Co. from $275.00 to $290.00 and gave the company a “hold” rating in a research report on Friday. Jefferies Financial Group increased their price objective on shares of Arthur J. Gallagher & Co. from $269.00 to $274.00 and gave the company a “hold” rating in a research note on Wednesday, October 9th. The Goldman Sachs Group lowered shares of Arthur J. Gallagher & Co. from a “buy” rating to a “neutral” rating and set a $313.00 target price on the stock. in a research report on Monday, November 25th. BMO Capital Markets increased their price target 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. Finally, Royal Bank of Canada lifted their price objective on Arthur J. Gallagher & Co. from $320.00 to $340.00 and gave the company an “outperform” rating in a report on Friday. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $307.00.

Arthur J. Gallagher & Co. Trading Up 1.1 %

AJG opened at $302.20 on Friday. Arthur J. Gallagher & Co. has a 1-year low of $227.43 and a 1-year high of $316.72. The stock has a market capitalization of $75.49 billion, a PE ratio of 57.56 and a beta of 0.76. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 0.64. The firm has a 50-day moving average price of $291.70 and a two-hundred day moving average price of $288.46.

Arthur J. Gallagher & Co. (NYSE:AJG) last posted 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 10.40% and a return on equity of 19.12%. As a group, equities analysts anticipate that Arthur J. Gallagher & Co. will post 10.04 earnings per share for the current fiscal year.

Arthur J. Gallagher & Co. Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 21st. Investors of record on Friday, March 7th will be issued a $0.65 dividend. This is a boost from Arthur J. Gallagher & Co.’s previous quarterly dividend of $0.60. The ex-dividend date of this dividend is Friday, March 7th. This represents a $2.60 annualized dividend and a yield of 0.86%. Arthur J. Gallagher & Co.’s dividend payout ratio (DPR) is currently 45.71%.

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.