Meiji Yasuda Asset Management Co Ltd. Sells 202 Shares of Arthur J. Gallagher & Co. (NYSE:AJG)

Meiji Yasuda Asset Management Co Ltd. cut its holdings in shares of Arthur J. Gallagher & Co. (NYSE:AJG) by 3.0% in the 4th quarter, HoldingsChannel reports. The fund owned 6,510 shares of the financial services provider’s stock after selling 202 shares during the period. Meiji Yasuda Asset Management Co Ltd.’s holdings in Arthur J. Gallagher & Co. were worth $1,848,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the business. Zions Bancorporation N.A. increased its holdings in Arthur J. Gallagher & Co. by 863.1% during the 4th quarter. Zions Bancorporation N.A. now owns 1,801 shares of the financial services provider’s stock worth $511,000 after purchasing an additional 1,614 shares in the last quarter. TIAA Trust National Association grew its holdings in Arthur J. Gallagher & Co. by 5.2% during the fourth quarter. TIAA Trust National Association now owns 4,082 shares of the financial services provider’s stock worth $1,159,000 after buying an additional 203 shares in the last quarter. FineMark National Bank & Trust raised its position in Arthur J. Gallagher & Co. by 1.7% in the 4th quarter. FineMark National Bank & Trust now owns 46,869 shares of the financial services provider’s stock valued at $13,304,000 after buying an additional 788 shares during the last quarter. TD Asset Management Inc. lifted its stake in Arthur J. Gallagher & Co. by 11.6% during the 4th quarter. TD Asset Management Inc. now owns 892,709 shares of the financial services provider’s stock valued at $253,395,000 after acquiring an additional 92,990 shares in the last quarter. Finally, Corebridge Financial Inc. boosted its holdings in Arthur J. Gallagher & Co. by 9.3% during the 4th quarter. Corebridge Financial Inc. now owns 69,567 shares of the financial services provider’s stock worth $19,747,000 after acquiring an additional 5,911 shares during the last quarter. Institutional investors own 85.53% of the company’s stock.

Arthur J. Gallagher & Co. Stock Performance

Shares of AJG stock opened at $336.56 on Thursday. The firm’s 50 day moving average is $319.90 and its 200 day moving average is $300.37. The stock has a market capitalization of $85.72 billion, a P/E ratio of 51.62 and a beta of 0.75. Arthur J. Gallagher & Co. has a 12 month low of $230.08 and a 12 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.

Arthur J. Gallagher & Co. (NYSE:AJG) last posted its quarterly earnings results on Thursday, January 30th. The financial services provider reported $2.13 EPS for the quarter, topping analysts’ consensus estimates 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, sell-side analysts anticipate that Arthur J. Gallagher & Co. will post 11.54 earnings per share for the current year.

Arthur J. Gallagher & Co. Increases Dividend

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

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. Piper Sandler raised shares of Arthur J. Gallagher & Co. from a “neutral” rating to an “overweight” rating and raised their price target for the company from $285.00 to $315.00 in a research report on Wednesday, January 8th. Redburn Atlantic initiated coverage on Arthur J. Gallagher & Co. in a research note on Tuesday. They issued a “neutral” rating and a $352.00 target price on the stock. Truist Financial increased their price target on Arthur J. Gallagher & Co. from $275.00 to $290.00 and gave the company a “hold” rating in a research report on Friday, January 31st. Royal Bank of Canada boosted 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. Finally, Keefe, Bruyette & Woods raised their target price on Arthur J. Gallagher & Co. from $308.00 to $314.00 and gave the company a “market perform” rating in a research report on Friday, March 21st. Two equities 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 stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $313.20.

Insider Activity

In other news, VP Scott R. Hudson sold 7,510 shares of Arthur J. Gallagher & Co. stock in a transaction on Friday, March 21st. The shares were sold at an average price of $333.59, for a total transaction of $2,505,260.90. Following the completion of the sale, the vice president now directly owns 90,020 shares of the company’s stock, valued at approximately $30,029,771.80. The trade was a 7.70 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Christopher E. Mead sold 2,900 shares of the stock in a transaction on Monday, February 3rd. The shares were 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 directly owns 14,674 shares in the company, valued at approximately $4,440,499.14. This represents a 16.50 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 23,235 shares of company stock worth $7,478,224. 1.60% of the stock is owned by company insiders.

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.