Wells Fargo & Company MN Has $112.16 Million Stock Holdings in Arthur J. Gallagher & Co. (NYSE:AJG)

Wells Fargo & Company MN boosted its holdings in shares of Arthur J. Gallagher & Co. (NYSE:AJG) by 8.2% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 395,137 shares of the financial services provider’s stock after buying an additional 29,820 shares during the period. Wells Fargo & Company MN owned approximately 0.16% of Arthur J. Gallagher & Co. worth $112,160,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently bought and sold shares of AJG. Vanguard Group Inc. grew its holdings in shares of Arthur J. Gallagher & Co. by 14.9% during the 4th 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. Geode Capital Management LLC grew its stake in Arthur J. Gallagher & Co. by 14.3% in the fourth quarter. Geode Capital Management LLC now owns 6,277,993 shares of the financial services provider’s stock valued at $1,779,248,000 after purchasing an additional 787,265 shares in the last quarter. Norges Bank acquired a new position in Arthur J. Gallagher & Co. in the 4th quarter worth about $1,421,591,000. Wellington Management Group LLP lifted its holdings in shares of Arthur J. Gallagher & Co. by 162.0% during the 4th quarter. Wellington Management Group LLP now owns 2,822,319 shares of the financial services provider’s stock valued at $801,115,000 after buying an additional 1,745,283 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of Arthur J. Gallagher & Co. by 10.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,029,256 shares of the financial services provider’s stock valued at $576,004,000 after buying an additional 184,960 shares in the last quarter. 85.53% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on AJG shares. Truist Financial lifted 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. Royal Bank of Canada upped their price objective on shares of Arthur J. Gallagher & Co. from $320.00 to $340.00 and gave the stock an “outperform” rating in a report on Friday, January 31st. Piper Sandler upgraded Arthur J. Gallagher & Co. from a “neutral” rating to an “overweight” rating and raised their target price for the company from $285.00 to $315.00 in a report on Wednesday, January 8th. Wells Fargo & Company upped their price target on Arthur J. Gallagher & Co. from $341.00 to $370.00 and gave the stock an “overweight” rating in a research note on Friday, March 21st. Finally, Redburn Atlantic assumed coverage on Arthur J. Gallagher & Co. in a report on Tuesday, March 25th. They issued a “neutral” rating and a $352.00 target price for the company. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, Arthur J. Gallagher & Co. presently has a consensus rating of “Hold” and a consensus price target of $313.20.

Insider Activity

In other Arthur J. Gallagher & Co. news, Director Sherry S. Barrat sold 2,500 shares of the stock in a transaction 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 completion of the transaction, the director now directly owns 16,533 shares in the company, valued at $5,031,487.89. This represents a 13.14 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Richard C. Cary sold 10,000 shares of the business’s stock in a transaction on Monday, February 10th. The shares were sold at an average price of $322.99, for a total transaction of $3,229,900.00. Following the completion of the sale, the chief accounting officer now owns 69,774 shares in the company, valued at $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 90 days, insiders sold 23,235 shares of company stock worth $7,478,224. 1.60% of the stock is currently owned by corporate insiders.

Arthur J. Gallagher & Co. Price Performance

Shares of Arthur J. Gallagher & Co. stock opened at $310.69 on Tuesday. The firm has a fifty day moving average price of $326.69 and a two-hundred day moving average price of $302.73. Arthur J. Gallagher & Co. has a fifty-two week low of $230.08 and a fifty-two week high of $350.70. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.51 and a quick ratio of 1.51. The company has a market cap of $79.45 billion, a PE ratio of 47.65 and a beta of 0.64.

Arthur J. Gallagher & Co. (NYSE:AJG) last issued its quarterly earnings results on Thursday, January 30th. The financial services provider reported $2.13 earnings per share (EPS) 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%. Analysts expect that Arthur J. Gallagher & Co. will post 11.54 EPS for the current year.

Arthur J. Gallagher & Co. Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 21st. Shareholders of record on Friday, March 7th were issued a $0.65 dividend. This represents a $2.60 annualized dividend and a yield of 0.84%. The ex-dividend date of this dividend was 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 segments: Brokerage, Risk Management, and Corporate. The Brokerage segment consists of retail and wholesale insurance brokerage operations.