Family Legacy Inc. Has $6.47 Million Stake in Arthur J. Gallagher & Co. (NYSE:AJG)

Family Legacy Inc. reduced its holdings in shares of Arthur J. Gallagher & Co. (NYSE:AJG) by 0.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 22,645 shares of the financial services provider’s stock after selling 34 shares during the quarter. Arthur J. Gallagher & Co. accounts for about 2.2% of Family Legacy Inc.’s holdings, making the stock its 4th biggest position. Family Legacy Inc.’s holdings in Arthur J. Gallagher & Co. were worth $6,465,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Townsquare Capital LLC raised its position in Arthur J. Gallagher & Co. by 35.9% in the 3rd quarter. Townsquare Capital LLC now owns 8,281 shares of the financial services provider’s stock valued at $2,330,000 after buying an additional 2,186 shares during the last quarter. CreativeOne Wealth LLC raised its holdings in shares of Arthur J. Gallagher & Co. by 11.2% in the third quarter. CreativeOne Wealth LLC now owns 1,969 shares of the financial services provider’s stock valued at $554,000 after purchasing an additional 199 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Arthur J. Gallagher & Co. by 10.8% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 43,224 shares of the financial services provider’s stock valued at $12,162,000 after purchasing an additional 4,212 shares in the last quarter. Rockefeller Capital Management L.P. boosted its holdings in Arthur J. Gallagher & Co. by 18.9% during the third quarter. Rockefeller Capital Management L.P. now owns 17,750 shares of the financial services provider’s stock worth $4,990,000 after purchasing an additional 2,819 shares during the last quarter. Finally, Encompass More Asset Management grew its position in Arthur J. Gallagher & Co. by 4.4% in the 3rd quarter. Encompass More Asset Management now owns 969 shares of the financial services provider’s stock worth $273,000 after purchasing an additional 41 shares in the last quarter. 85.53% of the stock is owned by institutional investors.

Arthur J. Gallagher & Co. Price Performance

AJG stock opened at $340.59 on Monday. The firm has a 50 day moving average of $321.73 and a 200-day moving average of $301.01. 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. 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 released its quarterly earnings results on Thursday, January 30th. The financial services provider reported $2.13 EPS for the quarter, beating analysts’ consensus estimates 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%. As a group, sell-side 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 declared a quarterly dividend, which was paid on Friday, March 21st. Shareholders of record on Friday, March 7th were issued a $0.65 dividend. The ex-dividend date was Friday, March 7th. This represents a $2.60 annualized dividend and a dividend yield of 0.76%. This is a boost from Arthur J. Gallagher & Co.’s previous quarterly dividend of $0.60. Arthur J. Gallagher & Co.’s dividend payout ratio (DPR) is presently 39.88%.

Insider Activity

In related 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 value of $760,825.00. Following the transaction, the director now owns 16,533 shares of the company’s stock, 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 Securities & Exchange Commission, which is available through the SEC website. 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 owns 14,674 shares of the company’s stock, valued at $4,440,499.14. The trade was a 16.50 % decrease in their ownership of the stock. 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 insiders.

Analyst Ratings Changes

Several research firms have recently issued reports on AJG. Piper Sandler raised Arthur J. Gallagher & Co. from a “neutral” rating to an “overweight” rating and upped their target price for the company from $285.00 to $315.00 in a report on Wednesday, January 8th. TD Cowen raised Arthur J. Gallagher & Co. from a “hold” rating to a “buy” rating and raised their target price for the company from $295.00 to $377.00 in a research report on Friday, January 10th. Redburn Atlantic assumed coverage on shares of Arthur J. Gallagher & Co. in a research report on Tuesday, March 25th. They set a “neutral” rating and a $352.00 price target for the company. Keefe, Bruyette & Woods lifted their price objective on shares of Arthur J. Gallagher & Co. from $308.00 to $314.00 and gave the stock a “market perform” rating in a research report on Friday, March 21st. Finally, Wells Fargo & Company raised their price target on shares of 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. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $313.20.

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.