Nordea Investment Management AB reduced its holdings in shares of Arthur J. Gallagher & Co. (NYSE:AJG – Get Rating) by 8.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 23,181 shares of the financial services provider’s stock after selling 2,153 shares during the quarter. Nordea Investment Management AB’s holdings in Arthur J. Gallagher & Co. were worth $4,376,000 at the end of the most recent reporting period.
Other hedge funds have also recently made changes to their positions in the company. Bain Capital Public Equity Management II LLC boosted its holdings in Arthur J. Gallagher & Co. by 502.3% during the third quarter. Bain Capital Public Equity Management II LLC now owns 499,542 shares of the financial services provider’s stock worth $85,532,000 after purchasing an additional 416,605 shares during the last quarter. Massachusetts Financial Services Co. MA raised its position in shares of Arthur J. Gallagher & Co. by 5.7% in the third quarter. Massachusetts Financial Services Co. MA now owns 5,534,252 shares of the financial services provider’s stock valued at $947,576,000 after purchasing an additional 300,053 shares during the period. Vanguard Group Inc. raised its position in shares of Arthur J. Gallagher & Co. by 1.0% in the third quarter. Vanguard Group Inc. now owns 25,783,678 shares of the financial services provider’s stock valued at $4,414,680,000 after purchasing an additional 266,711 shares during the period. WCM Investment Management LLC raised its position in shares of Arthur J. Gallagher & Co. by 5.6% in the fourth quarter. WCM Investment Management LLC now owns 2,688,886 shares of the financial services provider’s stock valued at $506,963,000 after purchasing an additional 141,783 shares during the period. Finally, Envestnet Asset Management Inc. raised its position in shares of Arthur J. Gallagher & Co. by 16.9% in the third quarter. Envestnet Asset Management Inc. now owns 950,990 shares of the financial services provider’s stock valued at $162,828,000 after purchasing an additional 137,703 shares during the period. 82.07% of the stock is currently owned by institutional investors and hedge funds.
Insider Buying and Selling
In other Arthur J. Gallagher & Co. news, Director David S. Johnson sold 1,000 shares of the company’s stock in a transaction on Wednesday, March 8th. The shares were sold at an average price of $189.62, for a total transaction of $189,620.00. Following the completion of the transaction, the director now owns 46,508 shares in the company, valued at approximately $8,818,846.96. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, Director David S. Johnson sold 1,000 shares of the stock in a transaction dated Wednesday, March 8th. The shares were sold at an average price of $189.62, for a total value of $189,620.00. Following the completion of the transaction, the director now owns 46,508 shares in the company, valued at approximately $8,818,846.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Patrick Murphy Gallagher sold 5,051 shares of the stock in a transaction dated Wednesday, March 8th. The shares were sold at an average price of $189.34, for a total transaction of $956,356.34. Following the completion of the sale, the vice president now directly owns 34,134 shares in the company, valued at $6,462,931.56. The disclosure for this sale can be found here. Insiders sold a total of 122,150 shares of company stock worth $25,185,179 in the last 90 days. Company insiders own 1.40% of the company’s stock.
Arthur J. Gallagher & Co. Stock Up 0.6 %
Arthur J. Gallagher & Co. Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Friday, June 16th. Stockholders of record on Friday, June 2nd will be issued a $0.55 dividend. This represents a $2.20 annualized dividend and a dividend yield of 1.01%. The ex-dividend date of this dividend is Thursday, June 1st. Arthur J. Gallagher & Co.’s payout ratio is 40.82%.
Analysts Set New Price Targets
AJG has been the subject of several recent analyst reports. Argus boosted their price objective on shares of Arthur J. Gallagher & Co. from $228.00 to $232.00 in a research note on Monday, May 1st. Truist Financial boosted their price objective on shares of Arthur J. Gallagher & Co. from $220.00 to $230.00 and gave the company a “buy” rating in a research note on Monday, January 30th. Keefe, Bruyette & Woods cut their price target on shares of Arthur J. Gallagher & Co. from $213.00 to $211.00 and set a “market perform” rating for the company in a research note on Friday, March 17th. Citigroup boosted their price target on shares of Arthur J. Gallagher & Co. from $228.00 to $232.00 in a research note on Tuesday, April 18th. Finally, Wells Fargo & Company upped their price objective on shares of Arthur J. Gallagher & Co. from $215.00 to $233.00 and gave the company an “overweight” rating in a research note on Friday, January 27th. Four investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Arthur J. Gallagher & Co. currently has a consensus rating of “Moderate Buy” and an average target price of $217.71.
About Arthur J. Gallagher & Co.
Arthur J. Gallagher & Co engages in the provision of insurance brokerage, consulting, and third-party claims settlement and administration services. It operates through the following business segments: Brokerage, Risk Management, and Corporate. The Brokerage segment consists of retail and wholesale insurance brokerage operations.
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