Tucker Asset Management LLC Increases Holdings in Arthur J. Gallagher & Co. (NYSE:AJG)

Tucker Asset Management LLC grew its position in Arthur J. Gallagher & Co. (NYSE:AJG) by 3.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,419 shares of the financial services provider’s stock after buying an additional 41 shares during the quarter. Tucker Asset Management LLC’s holdings in Arthur J. Gallagher & Co. were worth $403,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently made changes to their positions in AJG. Kingsview Wealth Management LLC purchased a new position in Arthur J. Gallagher & Co. in the third quarter worth $243,000. Townsquare Capital LLC grew its stake in shares of Arthur J. Gallagher & Co. by 35.9% during the third quarter. Townsquare Capital LLC now owns 8,281 shares of the financial services provider’s stock worth $2,330,000 after acquiring an additional 2,186 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund raised its position in shares of Arthur J. Gallagher & Co. by 102.4% in the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 48,583 shares of the financial services provider’s stock valued at $13,670,000 after purchasing an additional 24,583 shares during the last quarter. CreativeOne Wealth LLC boosted its stake in Arthur J. Gallagher & Co. by 11.2% in the 3rd quarter. CreativeOne Wealth LLC now owns 1,969 shares of the financial services provider’s stock worth $554,000 after purchasing an additional 199 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its position in Arthur J. Gallagher & Co. by 10.8% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 43,224 shares of the financial services provider’s stock worth $12,162,000 after purchasing an additional 4,212 shares during the last quarter. 85.53% of the stock is currently owned by institutional investors.

Arthur J. Gallagher & Co. Trading Down 0.1 %

Shares of AJG opened at $340.59 on Friday. The firm’s 50-day moving average is $321.73 and its two-hundred day moving average is $300.95. Arthur J. Gallagher & Co. has a twelve month low of $230.08 and a twelve month high of $345.43. The company has a current ratio of 1.51, a quick ratio of 1.51 and a debt-to-equity ratio of 0.63. The firm has a market capitalization of $87.10 billion, a P/E ratio of 52.24 and a beta of 0.75.

Arthur J. Gallagher & Co. (NYSE:AJG) last issued its quarterly earnings data on Thursday, January 30th. The financial services provider reported $2.13 earnings per share (EPS) for the quarter, topping 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, research analysts predict that Arthur J. Gallagher & Co. will post 11.54 earnings per share for the current fiscal 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. This is an increase from Arthur J. Gallagher & Co.’s previous quarterly dividend of $0.60. This represents a $2.60 annualized dividend and a yield of 0.76%. The ex-dividend date of this dividend was Friday, March 7th. Arthur J. Gallagher & Co.’s dividend payout ratio (DPR) is 39.88%.

Insider Activity

In other Arthur J. Gallagher & Co. news, Director Sherry S. Barrat sold 2,500 shares of Arthur J. Gallagher & Co. stock in a transaction that occurred 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 completion of the sale, the director now directly owns 16,533 shares of the company’s stock, valued at approximately $5,031,487.89. The trade was a 13.14 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Christopher E. Mead sold 2,900 shares of the firm’s stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $302.61, for a total value of $877,569.00. Following the sale, the vice president now owns 14,674 shares in the company, valued at $4,440,499.14. This trade represents a 16.50 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 23,235 shares of company stock worth $7,478,224 over the last ninety days. 1.60% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of brokerages have commented on AJG. Redburn Atlantic started coverage on Arthur J. Gallagher & Co. in a research report on Tuesday. They set a “neutral” rating and a $352.00 price target for the company. Keefe, Bruyette & Woods lifted their target price on shares of Arthur J. Gallagher & Co. from $308.00 to $314.00 and gave the company a “market perform” rating in a report on Friday, March 21st. TD Cowen raised shares of 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 report on Friday, January 10th. Truist Financial increased 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 note on Friday, January 31st. Finally, Piper Sandler raised Arthur J. Gallagher & Co. from a “neutral” rating to an “overweight” rating and upped their price target for the stock from $285.00 to $315.00 in a report on Wednesday, January 8th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $313.20.

Arthur J. Gallagher & Co. 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.