Foundation Wealth Management LLC PA Acquires Shares of 2,540 Arthur J. Gallagher & Co. (NYSE:AJG)

Foundation Wealth Management LLC PA bought a new position in shares of Arthur J. Gallagher & Co. (NYSE:AJG) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 2,540 shares of the financial services provider’s stock, valued at approximately $721,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Vanguard Group Inc. lifted its position in shares of Arthur J. Gallagher & Co. by 14.9% in the fourth quarter. Vanguard Group Inc. now owns 29,672,134 shares of the financial services provider’s stock valued at $8,422,435,000 after acquiring an additional 3,851,661 shares in the last quarter. Principal Financial Group Inc. lifted its holdings in Arthur J. Gallagher & Co. by 126.2% in the 4th quarter. Principal Financial Group Inc. now owns 2,003,237 shares of the financial services provider’s stock valued at $568,619,000 after purchasing an additional 1,117,441 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in Arthur J. Gallagher & Co. during the 4th quarter worth $163,087,000. Sei Investments Co. grew its holdings in shares of Arthur J. Gallagher & Co. by 307.2% during the fourth quarter. Sei Investments Co. now owns 742,746 shares of the financial services provider’s stock worth $210,829,000 after buying an additional 560,325 shares in the last quarter. Finally, Burkehill Global Management LP purchased a new position in shares of Arthur J. Gallagher & Co. in the fourth quarter worth about $156,118,000. 85.53% of the stock is owned by hedge funds and other institutional investors.

Arthur J. Gallagher & Co. Trading Down 0.2 %

AJG opened at $336.56 on Thursday. Arthur J. Gallagher & Co. has a 52 week low of $230.08 and a 52 week high of $345.43. 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 fifty day simple moving average of $319.90 and a 200-day simple moving average of $300.37. The firm has a market cap of $85.72 billion, a P/E ratio of 51.62 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 the consensus estimate 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%. On average, equities analysts expect that Arthur J. Gallagher & Co. will post 11.54 earnings per share for the current year.

Arthur J. Gallagher & Co. Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 21st. Shareholders of record on Friday, March 7th were issued a dividend of $0.65 per share. The ex-dividend date was Friday, March 7th. This is a positive change from Arthur J. Gallagher & Co.’s previous quarterly dividend of $0.60. This represents a $2.60 dividend on an annualized basis and a yield of 0.77%. Arthur J. Gallagher & Co.’s dividend payout ratio is 39.88%.

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

In other news, VP Christopher E. Mead sold 2,900 shares of Arthur J. Gallagher & Co. stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $302.61, for a total value of $877,569.00. Following the completion of the transaction, the vice president now owns 14,674 shares in the company, valued at approximately $4,440,499.14. This trade represents a 16.50 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Sherry S. Barrat sold 2,500 shares of the company’s stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $304.33, for a total transaction 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 disclosure for this sale can be found here. Insiders sold 23,235 shares of company stock valued at $7,478,224 in the last 90 days. Company insiders own 1.60% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have commented on the stock. TD Cowen upgraded shares of Arthur J. Gallagher & Co. from a “hold” rating to a “buy” rating and increased their price objective for the company from $295.00 to $377.00 in a report on Friday, January 10th. Royal Bank of Canada lifted their price objective 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. Truist Financial raised their target price on Arthur J. Gallagher & Co. from $275.00 to $290.00 and gave the stock a “hold” rating in a research note on Friday, January 31st. Redburn Atlantic initiated coverage on shares of Arthur J. Gallagher & Co. in a research report on Tuesday. They set a “neutral” rating and a $352.00 price target on the stock. Finally, Keefe, Bruyette & Woods lifted their target price on shares of Arthur J. Gallagher & Co. from $308.00 to $314.00 and gave the stock a “market perform” rating in a research note on Friday, March 21st. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $313.20.

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