TIAA Trust National Association Acquires 203 Shares of Arthur J. Gallagher & Co. (NYSE:AJG)

TIAA Trust National Association increased its holdings in shares of Arthur J. Gallagher & Co. (NYSE:AJG) by 5.2% in the fourth quarter, Holdings Channel.com reports. The firm owned 4,082 shares of the financial services provider’s stock after purchasing an additional 203 shares during the quarter. TIAA Trust National Association’s holdings in Arthur J. Gallagher & Co. were worth $1,159,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of AJG. Wealth Enhancement Advisory Services LLC raised its holdings in shares of Arthur J. Gallagher & Co. by 21.2% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 67,146 shares of the financial services provider’s stock worth $18,893,000 after acquiring an additional 11,752 shares during the period. Principal Financial Group Inc. lifted its holdings in shares of Arthur J. Gallagher & Co. by 231.2% in the third quarter. Principal Financial Group Inc. now owns 885,796 shares of the financial services provider’s stock valued at $249,237,000 after purchasing an additional 618,362 shares in the last quarter. Running Oak Capital LLC grew its holdings in shares of Arthur J. Gallagher & Co. by 8.9% during the fourth quarter. Running Oak Capital LLC now owns 48,722 shares of the financial services provider’s stock worth $13,830,000 after buying an additional 3,983 shares in the last quarter. MML Investors Services LLC raised its position in Arthur J. Gallagher & Co. by 1.2% in the 3rd quarter. MML Investors Services LLC now owns 183,857 shares of the financial services provider’s stock valued at $51,732,000 after buying an additional 2,092 shares during the last quarter. Finally, Nordea Investment Management AB lifted its stake in Arthur J. Gallagher & Co. by 16.7% in the 4th quarter. Nordea Investment Management AB now owns 22,436 shares of the financial services provider’s stock valued at $6,381,000 after acquiring an additional 3,217 shares in the last quarter. 85.53% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. Royal Bank of Canada lifted their price objective on shares of Arthur J. Gallagher & Co. from $320.00 to $340.00 and gave the company an “outperform” rating in a report on Friday, January 31st. Keefe, Bruyette & Woods lifted their price target on shares of Arthur J. Gallagher & Co. from $308.00 to $314.00 and gave the company a “market perform” rating in a research note on Friday, March 21st. Redburn Atlantic assumed coverage on Arthur J. Gallagher & Co. in a report on Tuesday. They issued a “neutral” rating and a $352.00 price objective for the company. Wells Fargo & Company upped their target price on Arthur J. Gallagher & Co. from $341.00 to $370.00 and gave the stock an “overweight” rating in a report on Friday, March 21st. Finally, Truist Financial raised their price target on 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. 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’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $313.20.

Insider Transactions at Arthur J. Gallagher & Co.

In other Arthur J. Gallagher & Co. news, VP Scott R. Hudson sold 7,510 shares of Arthur J. Gallagher & Co. stock in a transaction dated Friday, March 21st. The shares were sold at an average price of $333.59, for a total value of $2,505,260.90. Following the completion of the sale, the vice president now owns 90,020 shares in the company, valued at $30,029,771.80. The trade was a 7.70 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Richard C. Cary sold 10,000 shares of the stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $322.99, for a total transaction of $3,229,900.00. Following the transaction, the chief accounting officer now owns 69,774 shares in the company, valued at approximately $22,536,304.26. The trade was a 12.54 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 23,235 shares of company stock valued at $7,478,224. 1.60% of the stock is currently owned by corporate insiders.

Arthur J. Gallagher & Co. Price Performance

Shares of AJG opened at $341.78 on Friday. The company’s 50-day moving average is $320.82 and its 200-day moving average is $300.66. 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 firm has a market capitalization of $87.40 billion, a PE ratio of 52.42 and a beta of 0.75. Arthur J. Gallagher & Co. has a fifty-two week low of $230.08 and a fifty-two week high of $345.43.

Arthur J. Gallagher & Co. (NYSE:AJG) last released its quarterly 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 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 EPS for the current year.

Arthur J. Gallagher & Co. Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 21st. Shareholders of record on Friday, March 7th were given a dividend of $0.65 per share. This is a boost from Arthur J. Gallagher & Co.’s previous quarterly dividend of $0.60. The ex-dividend date was Friday, March 7th. This represents a $2.60 annualized dividend and a yield of 0.76%. Arthur J. Gallagher & Co.’s dividend payout ratio (DPR) is presently 39.88%.

About Arthur J. Gallagher & Co.

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.