Amalgamated Bank Buys 5,274 Shares of Arthur J. Gallagher & Co. (NYSE:AJG)

Amalgamated Bank increased its position in Arthur J. Gallagher & Co. (NYSE:AJG) by 12.2% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 48,372 shares of the financial services provider’s stock after acquiring an additional 5,274 shares during the quarter. Amalgamated Bank’s holdings in Arthur J. Gallagher & Co. were worth $13,730,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Allspring Global Investments Holdings LLC grew its position in shares of 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 valued at $2,874,000 after purchasing an additional 48 shares in the last quarter. Assenagon Asset Management S.A. boosted its stake in Arthur J. Gallagher & Co. by 47.6% during 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 buying an additional 2,110 shares during the period. Ballentine Partners LLC grew its position in Arthur J. Gallagher & Co. by 7.2% during the third 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. Allworth Financial LP raised its holdings in shares of Arthur J. Gallagher & Co. by 2.8% in the 3rd quarter. Allworth Financial LP now owns 2,947 shares of the financial services provider’s stock valued at $829,000 after acquiring an additional 79 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC boosted its position in shares of Arthur J. Gallagher & Co. by 1.0% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 55,394 shares of the financial services provider’s stock valued at $15,586,000 after acquiring an additional 536 shares during the last quarter. Institutional investors own 85.53% of the company’s stock.

Insider Activity at Arthur J. Gallagher & Co.

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 shares were sold at an average price of $304.33, for a total value of $760,825.00. Following the sale, the director now owns 16,533 shares in the company, valued at $5,031,487.89. The trade was a 13.14 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director David S. Johnson sold 325 shares of the company’s stock in a transaction on Wednesday, February 12th. The stock was sold at an average price of $322.06, for a total transaction of $104,669.50. Following the completion of the transaction, the director now owns 44,783 shares of the company’s stock, valued at $14,422,812.98. This trade represents a 0.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 15,725 shares of company stock worth $4,972,964 in the last 90 days. Company insiders own 1.60% of the company’s stock.

Arthur J. Gallagher & Co. Price Performance

Shares of Arthur J. Gallagher & Co. stock opened at $332.06 on Wednesday. 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 one year low of $230.08 and a one year high of $332.69. The business’s 50 day simple moving average is $299.78 and its two-hundred day simple moving average is $294.16. The stock has a market capitalization of $84.57 billion, a P/E ratio of 50.93 and a beta of 0.77.

Arthur J. Gallagher & Co. (NYSE:AJG) last posted its quarterly earnings results on Thursday, January 30th. The financial services provider reported $2.13 EPS for the quarter, beating analysts’ consensus estimates 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%. Analysts forecast that Arthur J. Gallagher & Co. will post 11.54 EPS for the current year.

Arthur J. Gallagher & Co. Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 21st. Investors of record on Friday, March 7th will be paid a $0.65 dividend. The ex-dividend date is Friday, March 7th. 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 0.78%. Arthur J. Gallagher & Co.’s dividend payout ratio (DPR) is presently 36.81%.

Analyst Ratings Changes

Several research firms recently weighed in on AJG. TD Cowen upgraded shares of Arthur J. Gallagher & Co. from a “hold” rating to a “buy” rating and upped their price objective for the stock from $295.00 to $377.00 in a research report on Friday, January 10th. The Goldman Sachs Group cut shares of Arthur J. Gallagher & Co. from a “buy” rating to a “neutral” rating and set a $313.00 price objective on the stock. in a research report on Monday, November 25th. Truist Financial upped their target price on shares of Arthur J. Gallagher & Co. from $275.00 to $290.00 and gave the stock a “hold” rating in a research report on Friday, January 31st. Piper Sandler upgraded Arthur J. Gallagher & Co. from a “neutral” rating to an “overweight” rating and raised their price target for the company from $285.00 to $315.00 in a research report on Wednesday, January 8th. Finally, Royal Bank of Canada upped their price objective on Arthur J. Gallagher & Co. from $320.00 to $340.00 and gave the stock an “outperform” rating in a report on Friday, January 31st. Two 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. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $307.00.

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 business segments: Brokerage, Risk Management, and Corporate. The Brokerage segment consists of retail and wholesale insurance brokerage operations.