Mercer Global Advisors Inc. ADV grew its position in Arthur J. Gallagher & Co. (NYSE:AJG – Get Rating) by 7.9% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 17,294 shares of the financial services provider’s stock after buying an additional 1,271 shares during the period. Mercer Global Advisors Inc. ADV’s holdings in Arthur J. Gallagher & Co. were worth $3,261,000 at the end of the most recent quarter.
Other institutional investors have also modified their holdings of the company. Texas Permanent School Fund raised its position in shares of Arthur J. Gallagher & Co. by 0.7% in the 4th quarter. Texas Permanent School Fund now owns 29,956 shares of the financial services provider’s stock valued at $5,648,000 after purchasing an additional 195 shares during the last quarter. Toronto Dominion Bank raised its position in shares of Arthur J. Gallagher & Co. by 18.3% in the 4th quarter. Toronto Dominion Bank now owns 113,992 shares of the financial services provider’s stock valued at $21,482,000 after purchasing an additional 17,651 shares during the last quarter. Stratos Wealth Advisors LLC raised its position in shares of Arthur J. Gallagher & Co. by 1.9% in the 4th quarter. Stratos Wealth Advisors LLC now owns 3,061 shares of the financial services provider’s stock valued at $577,000 after purchasing an additional 58 shares during the last quarter. Belpointe Asset Management LLC raised its position in shares of Arthur J. Gallagher & Co. by 14.2% in the 3rd quarter. Belpointe Asset Management LLC now owns 2,392 shares of the financial services provider’s stock valued at $410,000 after purchasing an additional 297 shares during the last quarter. Finally, AlphaCrest Capital Management LLC raised its position in shares of Arthur J. Gallagher & Co. by 268.4% in the 3rd quarter. AlphaCrest Capital Management LLC now owns 4,856 shares of the financial services provider’s stock valued at $831,000 after purchasing an additional 3,538 shares during the last quarter. 82.07% of the stock is currently owned by institutional investors.
Insiders Place Their Bets
In other Arthur J. Gallagher & Co. news, VP Scott R. Hudson sold 18,700 shares of Arthur J. Gallagher & Co. stock in a transaction on Monday, March 6th. The shares were sold at an average price of $190.66, for a total transaction of $3,565,342.00. Following the sale, the vice president now owns 42,231 shares of the company’s stock, valued at approximately $8,051,762.46. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, VP Patrick Murphy Gallagher sold 5,051 shares of Arthur J. Gallagher & Co. stock in a transaction on Wednesday, March 8th. The stock was sold at an average price of $189.34, for a total transaction of $956,356.34. Following the transaction, the vice president now owns 34,134 shares in the company, valued at approximately $6,462,931.56. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, VP Scott R. Hudson sold 18,700 shares of Arthur J. Gallagher & Co. stock in a transaction on Monday, March 6th. The stock was sold at an average price of $190.66, for a total value of $3,565,342.00. Following the transaction, the vice president now owns 42,231 shares in the company, valued at approximately $8,051,762.46. The disclosure for this sale can be found here. Insiders have sold a total of 125,354 shares of company stock valued at $25,882,434 in the last 90 days. 1.60% of the stock is owned by insiders.
Arthur J. Gallagher & Co. Price Performance
Arthur J. Gallagher & Co. Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Friday, June 16th. Shareholders of record on Friday, June 2nd will be paid a dividend of $0.55 per share. The ex-dividend date of this dividend is Thursday, June 1st. This represents a $2.20 annualized dividend and a yield of 1.01%. Arthur J. Gallagher & Co.’s dividend payout ratio (DPR) is presently 40.82%.
Analyst Upgrades and Downgrades
AJG has been the subject of a number of recent research reports. Citigroup raised their price target on shares of Arthur J. Gallagher & Co. from $228.00 to $232.00 in a research report on Tuesday, April 18th. BMO Capital Markets initiated coverage on shares of Arthur J. Gallagher & Co. in a research report on Thursday, January 19th. They set an “outperform” rating and a $211.00 price target for the company. StockNews.com initiated coverage on shares of Arthur J. Gallagher & Co. in a research report on Thursday, March 16th. They set a “hold” rating for the company. Truist Financial raised their price target on shares of Arthur J. Gallagher & Co. from $220.00 to $230.00 and gave the stock a “buy” rating in a research report on Monday, January 30th. Finally, Keefe, Bruyette & Woods reduced 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 report on Friday, March 17th. Four analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Arthur J. Gallagher & Co. has an average rating of “Moderate Buy” and a consensus 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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