Keybank National Association OH Grows Stock Position in Arthur J. Gallagher & Co. (NYSE:AJG)

Keybank National Association OH increased its stake in Arthur J. Gallagher & Co. (NYSE:AJG) by 35.8% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 4,028 shares of the financial services provider’s stock after purchasing an additional 1,061 shares during the quarter. Keybank National Association OH’s holdings in Arthur J. Gallagher & Co. were worth $1,143,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Valley National Advisers Inc. purchased a new position in shares of Arthur J. Gallagher & Co. in the fourth quarter valued at $25,000. Pin Oak Investment Advisors Inc. grew its position in shares of Arthur J. Gallagher & Co. by 543.8% in the third quarter. Pin Oak Investment Advisors Inc. now owns 103 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 87 shares in the last quarter. Rakuten Securities Inc. grew its position in shares of Arthur J. Gallagher & Co. by 580.0% in the third quarter. Rakuten Securities Inc. now owns 102 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 87 shares in the last quarter. E Fund Management Hong Kong Co. Ltd. purchased a new position in shares of Arthur J. Gallagher & Co. in the fourth quarter valued at $35,000. Finally, Financial Life Planners purchased a new position in shares of Arthur J. Gallagher & Co. in the fourth quarter valued at $36,000. 85.53% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, VP Christopher E. Mead sold 2,900 shares of the business’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $302.61, for a total transaction of $877,569.00. Following the transaction, the vice president now owns 14,674 shares in the company, valued at $4,440,499.14. The trade was a 16.50 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Richard C. Cary sold 10,000 shares of the business’s stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $322.99, for a total value of $3,229,900.00. Following the transaction, the chief accounting officer now owns 69,774 shares in the company, valued at approximately $22,536,304.26. This represents a 12.54 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 15,725 shares of company stock valued at $4,972,964. Insiders own 1.60% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on AJG. Wells Fargo & Company reduced their price target on Arthur J. Gallagher & Co. from $344.00 to $341.00 and set an “overweight” rating for the company in a research report on Friday, January 31st. BMO Capital Markets lifted their price objective on Arthur J. Gallagher & Co. from $312.00 to $325.00 and gave the company an “outperform” rating in a research note on Tuesday, November 12th. Piper Sandler raised 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. TD Cowen raised Arthur J. Gallagher & Co. from a “hold” rating to a “buy” rating and lifted their price objective for the company from $295.00 to $377.00 in a research note on Friday, January 10th. Finally, The Goldman Sachs Group lowered Arthur J. Gallagher & Co. from a “buy” rating to a “neutral” rating and set a $313.00 price objective for the company. in a research note on Monday, November 25th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, Arthur J. Gallagher & Co. presently has an average rating of “Hold” and an average target price of $307.93.

Arthur J. Gallagher & Co. Trading Down 4.7 %

Shares of AJG stock opened at $323.81 on Friday. The company has a quick ratio of 1.51, a current ratio of 1.51 and a debt-to-equity ratio of 0.63. The business has a 50-day moving average price of $307.89 and a two-hundred day moving average price of $296.87. Arthur J. Gallagher & Co. has a 12-month low of $230.08 and a 12-month high of $345.43. The firm has a market cap of $82.47 billion, a P/E ratio of 49.66 and a beta of 0.75.

Arthur J. Gallagher & Co. (NYSE:AJG) last released its earnings results on Thursday, January 30th. The financial services provider reported $2.13 earnings per share for the quarter, beating 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%. Equities analysts anticipate 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 announced 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 represents a $2.60 dividend on an annualized basis and a dividend yield of 0.80%. The ex-dividend date of this dividend is Friday, March 7th. This is a positive change from Arthur J. Gallagher & Co.’s previous quarterly dividend of $0.60. Arthur J. Gallagher & Co.’s payout ratio 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 business segments: Brokerage, Risk Management, and Corporate. The Brokerage segment consists of retail and wholesale insurance brokerage operations.