Lincoln National Corp boosted its holdings in Arthur J. Gallagher & Co. (NYSE:AJG – Free Report) by 20.3% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,408 shares of the financial services provider’s stock after buying an additional 575 shares during the period. Lincoln National Corp’s holdings in Arthur J. Gallagher & Co. were worth $652,000 as of its most recent SEC filing.
A number of other large investors also recently modified their holdings of the business. Profund Advisors LLC increased its position in Arthur J. Gallagher & Co. by 2.4% during the fourth quarter. Profund Advisors LLC now owns 2,379 shares of the financial services provider’s stock worth $449,000 after acquiring an additional 55 shares during the period. B. Riley Wealth Advisors Inc. raised its position in shares of Arthur J. Gallagher & Co. by 0.6% during the fourth quarter. B. Riley Wealth Advisors Inc. now owns 8,802 shares of the financial services provider’s stock valued at $1,660,000 after buying an additional 56 shares during the last quarter. Stratos Wealth Advisors LLC lifted its stake in shares of Arthur J. Gallagher & Co. by 1.9% in the fourth quarter. Stratos Wealth Advisors LLC now owns 3,061 shares of the financial services provider’s stock valued at $577,000 after buying an additional 58 shares during the period. Raymond James Trust N.A. grew its position in Arthur J. Gallagher & Co. by 0.7% during the fourth quarter. Raymond James Trust N.A. now owns 8,710 shares of the financial services provider’s stock worth $1,642,000 after buying an additional 58 shares in the last quarter. Finally, Sentry Investment Management LLC increased its stake in Arthur J. Gallagher & Co. by 4.4% during the fourth quarter. Sentry Investment Management LLC now owns 1,400 shares of the financial services provider’s stock valued at $264,000 after acquiring an additional 59 shares during the period. 85.55% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
Several analysts have recently weighed in on AJG shares. VNET Group reissued a “maintains” rating on shares of Arthur J. Gallagher & Co. in a report on Tuesday, May 23rd. Argus boosted their price target on shares of Arthur J. Gallagher & Co. from $228.00 to $232.00 in a report on Monday, May 1st. StockNews.com started coverage on shares of Arthur J. Gallagher & Co. in a research report on Thursday, May 18th. They set a “hold” rating on the stock. Piper Sandler raised their price target on shares of Arthur J. Gallagher & Co. from $215.00 to $220.00 in a research note on Friday, April 28th. Finally, Citigroup lifted their price objective on Arthur J. Gallagher & Co. from $228.00 to $232.00 in a report on Tuesday, April 18th. Four analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Arthur J. Gallagher & Co. has an average rating of “Moderate Buy” and a consensus price target of $226.62.
Arthur J. Gallagher & Co. Stock Performance
Arthur J. Gallagher & Co. (NYSE:AJG – Get Free Report) last announced its earnings results on Thursday, April 27th. The financial services provider reported $3.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.00 by $0.03. The company had revenue of $2.67 billion for the quarter, compared to analyst estimates of $2.67 billion. Arthur J. Gallagher & Co. had a net margin of 13.22% and a return on equity of 18.86%. On average, research analysts anticipate that Arthur J. Gallagher & Co. will post 8.71 earnings per share for the current fiscal year.
Arthur J. Gallagher & Co. Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Friday, June 16th. Stockholders of record on Friday, June 2nd were given a dividend of $0.55 per share. The ex-dividend date of this dividend was Thursday, June 1st. This represents a $2.20 dividend on an annualized basis and a dividend yield of 1.01%. Arthur J. Gallagher & Co.’s payout ratio is currently 40.82%.
Insider Activity at Arthur J. Gallagher & Co.
In related news, Director David S. Johnson sold 1,000 shares of the business’s stock in a transaction that occurred on Friday, June 16th. The shares were sold at an average price of $216.40, for a total transaction of $216,400.00. Following the completion of the sale, the director now directly owns 46,538 shares of the company’s stock, valued at $10,070,823.20. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In related news, insider Susan E. Pietrucha sold 57,419 shares of the company’s stock in a transaction dated Wednesday, May 3rd. The stock was sold at an average price of $211.21, for a total value of $12,127,466.99. Following the completion of the sale, the insider now owns 5 shares in the company, valued at $1,056.05. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director David S. Johnson sold 1,000 shares of the stock in a transaction dated Friday, June 16th. The shares were sold at an average price of $216.40, for a total value of $216,400.00. Following the completion of the transaction, the director now directly owns 46,538 shares in the company, valued at approximately $10,070,823.20. The disclosure for this sale can be found here. Insiders have sold a total of 101,503 shares of company stock worth $21,433,355 over the last 90 days. Insiders own 1.60% of the company’s stock.
Arthur J. Gallagher & Co. Profile
Arthur J. Gallagher & Co, together with its subsidiaries, provides insurance and reinsurance brokerage, consulting, and third-party property/casualty claims settlement and administration services to businesses and organizations worldwide. It operates in Brokerage and Risk Management segments. The Brokerage segment offers retail and wholesale insurance and reinsurance brokerage services; assists retail brokers and other non-affiliated brokers in the placement of specialized and hard-to-place insurance; and acts as a brokerage wholesaler, managing general agent, and managing general underwriter for distributing specialized insurance coverages to underwriting enterprises.
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