Linscomb Wealth Inc. Acquires 57 Shares of Arthur J. Gallagher & Co. (NYSE:AJG)

Linscomb Wealth Inc. raised its holdings in Arthur J. Gallagher & Co. (NYSE:AJG) by 2.2% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,628 shares of the financial services provider’s stock after buying an additional 57 shares during the quarter. Linscomb Wealth Inc.’s holdings in Arthur J. Gallagher & Co. were worth $746,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in AJG. FMR LLC raised its stake in Arthur J. Gallagher & Co. by 4.9% in the third quarter. FMR LLC now owns 12,305,478 shares of the financial services provider’s stock worth $3,462,392,000 after buying an additional 580,134 shares in the last quarter. State Street Corp raised its position in shares of Arthur J. Gallagher & Co. by 0.5% in the 3rd quarter. State Street Corp now owns 8,932,007 shares of the financial services provider’s stock worth $2,513,199,000 after acquiring an additional 47,656 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of Arthur J. Gallagher & Co. by 1.5% in the 3rd quarter. Geode Capital Management LLC now owns 5,490,728 shares of the financial services provider’s stock valued at $1,541,044,000 after purchasing an additional 79,429 shares during the period. Massachusetts Financial Services Co. MA boosted its position in shares of Arthur J. Gallagher & Co. by 13.6% during the third quarter. Massachusetts Financial Services Co. MA now owns 3,196,992 shares of the financial services provider’s stock valued at $899,538,000 after purchasing an additional 383,130 shares in the last quarter. Finally, Principal Financial Group Inc. grew its stake in Arthur J. Gallagher & Co. by 126.2% in the fourth quarter. Principal Financial Group Inc. now owns 2,003,237 shares of the financial services provider’s stock worth $568,619,000 after purchasing an additional 1,117,441 shares during the period. 85.53% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts have commented on the company. Royal Bank of Canada raised their price objective on Arthur J. Gallagher & Co. from $320.00 to $340.00 and gave the company an “outperform” rating in a research report on Friday, January 31st. BMO Capital Markets boosted their price objective on shares of Arthur J. Gallagher & Co. from $312.00 to $325.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 12th. Truist Financial raised their target price on shares of Arthur J. Gallagher & Co. from $275.00 to $290.00 and gave the company a “hold” rating in a research note on Friday, January 31st. Keefe, Bruyette & Woods boosted their price target on Arthur J. Gallagher & Co. from $286.00 to $295.00 and gave the stock a “market perform” rating in a research report on Friday, January 31st. Finally, 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. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $307.00.

Arthur J. Gallagher & Co. Stock Up 1.3 %

AJG stock opened at $337.61 on Friday. 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 1-year low of $230.08 and a 1-year high of $338.43. The stock has a market capitalization of $85.99 billion, a P/E ratio of 51.78 and a beta of 0.77. The business has a fifty day moving average price of $302.93 and a 200-day moving average price of $295.05.

Arthur J. Gallagher & Co. (NYSE:AJG) last announced its quarterly earnings results on Thursday, January 30th. The financial services provider reported $2.13 earnings per share (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%. Equities analysts forecast 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 will be paid on Friday, March 21st. Shareholders of record on Friday, March 7th will be given a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a yield of 0.77%. The ex-dividend date is Friday, March 7th. This is an increase from Arthur J. Gallagher & Co.’s previous quarterly dividend of $0.60. Arthur J. Gallagher & Co.’s payout ratio is 39.88%.

Insider Buying and Selling at Arthur J. Gallagher & Co.

In related news, Director David S. Johnson sold 325 shares of the business’s stock in a transaction that occurred on 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 directly owns 44,783 shares in the company, valued at approximately $14,422,812.98. The trade was a 0.72 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Christopher E. Mead sold 2,900 shares of the stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $302.61, for a total transaction of $877,569.00. Following the completion of 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 ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 15,725 shares of company stock worth $4,972,964. 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.