NEOS Investment Management LLC Has $3.12 Million Stake in Arthur J. Gallagher & Co. (NYSE:AJG)

NEOS Investment Management LLC grew its position in Arthur J. Gallagher & Co. (NYSE:AJG) by 29.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,988 shares of the financial services provider’s stock after acquiring an additional 2,485 shares during the period. NEOS Investment Management LLC’s holdings in Arthur J. Gallagher & Co. were worth $3,119,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the company. Valley National Advisers Inc. bought a new position in Arthur J. Gallagher & Co. during the fourth quarter worth about $25,000. MRP Capital Investments LLC acquired a new stake in shares of Arthur J. Gallagher & Co. during the 4th quarter worth about $28,000. E Fund Management Hong Kong Co. Ltd. bought a new stake in shares of Arthur J. Gallagher & Co. during the 4th quarter worth about $35,000. Financial Life Planners acquired a new position in Arthur J. Gallagher & Co. in the 4th quarter valued at about $36,000. Finally, OFI Invest Asset Management bought a new position in Arthur J. Gallagher & Co. in the 4th quarter valued at about $42,000. 85.53% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Arthur J. Gallagher & Co.

In other news, CAO Richard C. Cary sold 10,000 shares of the stock in a transaction on Monday, February 10th. The stock was sold at an average price of $322.99, for a total value of $3,229,900.00. Following the completion of the transaction, the chief accounting officer now directly owns 69,774 shares in the company, valued at approximately $22,536,304.26. This represents a 12.54 % decrease in their position. The sale 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 company’s 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 directly owns 14,674 shares of the company’s stock, valued at approximately $4,440,499.14. The trade was a 16.50 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 23,235 shares of company stock valued at $7,478,224 in the last quarter. Insiders own 1.60% of the company’s stock.

Arthur J. Gallagher & Co. Trading Down 0.1 %

Shares of AJG stock opened at $340.59 on Friday. Arthur J. Gallagher & Co. has a fifty-two week low of $230.08 and a fifty-two week high of $345.43. The stock’s fifty day moving average price is $321.73 and its two-hundred day moving average price is $300.95. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.51 and a current ratio of 1.51. The company has a market cap of $87.10 billion, a PE ratio of 52.24 and a beta of 0.75.

Arthur J. Gallagher & Co. (NYSE:AJG) last released its quarterly earnings data 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%. Equities analysts predict that Arthur J. Gallagher & Co. will post 11.54 EPS for the current fiscal year.

Arthur J. Gallagher & Co. Increases Dividend

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

Analysts Set New Price Targets

AJG has been the topic of several research reports. Royal Bank of Canada upped their target price on Arthur J. Gallagher & Co. from $320.00 to $340.00 and gave the company an “outperform” rating in a research report on Friday, January 31st. Piper Sandler raised Arthur J. Gallagher & Co. from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $285.00 to $315.00 in a report on Wednesday, January 8th. Redburn Atlantic started coverage on shares of Arthur J. Gallagher & Co. in a research note on Tuesday. They issued a “neutral” rating and a $352.00 price target on the stock. Truist Financial lifted their price objective 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, Wells Fargo & Company increased their target price on shares of Arthur J. Gallagher & Co. from $341.00 to $370.00 and gave the stock an “overweight” rating in a research report on Friday, March 21st. Two 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. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus 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.