Fisher Funds Management LTD Invests $24.65 Million in Arthur J. Gallagher & Co. (NYSE:AJG)

Fisher Funds Management LTD purchased a new stake in Arthur J. Gallagher & Co. (NYSE:AJG) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 86,988 shares of the financial services provider’s stock, valued at approximately $24,652,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Pinnacle Financial Partners Inc grew its position in shares of Arthur J. Gallagher & Co. by 3.5% during the 4th quarter. Pinnacle Financial Partners Inc now owns 2,340 shares of the financial services provider’s stock worth $664,000 after buying an additional 80 shares in the last quarter. ING Groep NV lifted its stake in Arthur J. Gallagher & Co. by 2.2% in the fourth quarter. ING Groep NV now owns 11,290 shares of the financial services provider’s stock worth $3,205,000 after acquiring an additional 247 shares during the period. Boston Financial Mangement LLC grew its holdings in Arthur J. Gallagher & Co. by 0.9% during 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 increased its position 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 valued at $2,265,000 after purchasing an additional 355 shares during the period. Finally, Wealth Alliance bought a new stake in shares of Arthur J. Gallagher & Co. in the 4th quarter valued at about $253,000. Institutional investors own 85.53% of the company’s stock.

Arthur J. Gallagher & Co. Stock Up 0.0 %

NYSE:AJG opened at $325.28 on Friday. 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 twelve month low of $230.08 and a twelve month high of $329.60. The company has a market cap of $82.85 billion, a PE ratio of 49.89 and a beta of 0.77. The company’s 50 day moving average is $297.95 and its two-hundred day moving average is $293.41.

Arthur J. Gallagher & Co. (NYSE:AJG) last released its quarterly earnings data on Thursday, January 30th. The financial services provider reported $2.13 earnings per share for the quarter, topping 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 anticipate that Arthur J. Gallagher & Co. will post 11.54 EPS for the current year.

Arthur J. Gallagher & Co. Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 21st. Shareholders of record on Friday, March 7th will be given a $0.65 dividend. The ex-dividend date of this dividend is Friday, March 7th. This represents a $2.60 dividend on an annualized basis and a dividend yield of 0.80%. This is an increase from Arthur J. Gallagher & Co.’s previous quarterly dividend of $0.60. Arthur J. Gallagher & Co.’s dividend payout ratio is 39.88%.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on AJG shares. Barclays increased their price objective on shares of Arthur J. Gallagher & Co. from $300.00 to $308.00 and gave the company an “equal weight” rating in a research note on Thursday, November 21st. Keefe, Bruyette & Woods lifted their price target on Arthur J. Gallagher & Co. from $286.00 to $295.00 and gave the company a “market perform” rating in a report on Friday, January 31st. Royal Bank of Canada boosted their price target on Arthur J. Gallagher & Co. from $320.00 to $340.00 and gave the stock an “outperform” rating in a research report on Friday, January 31st. Piper Sandler raised Arthur J. Gallagher & Co. from a “neutral” rating to an “overweight” rating and raised their price objective for the company from $285.00 to $315.00 in a research report on Wednesday, January 8th. Finally, Truist Financial boosted 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 report on Friday, January 31st. Two analysts have rated the stock with a sell rating, six have issued a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $307.00.

Insider Activity

In related news, CAO Richard C. Cary sold 10,000 shares of Arthur J. Gallagher & Co. stock in a transaction on 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 sale, the chief accounting officer now owns 69,774 shares of the company’s stock, valued at approximately $22,536,304.26. This trade represents a 12.54 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director David S. Johnson sold 325 shares of Arthur J. Gallagher & Co. stock in a transaction dated Wednesday, February 12th. The shares were sold at an average price of $322.06, for a total transaction of $104,669.50. Following the completion of the sale, the director now owns 44,783 shares in the company, valued at approximately $14,422,812.98. This trade represents a 0.72 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 15,725 shares of company stock worth $4,972,964 in the last ninety days. Company insiders own 1.60% of the company’s stock.

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.