Victory Capital Management Inc. Has $24.52 Million Stake in Arthur J. Gallagher & Co. (NYSE:AJG)

Victory Capital Management Inc. lessened its stake in Arthur J. Gallagher & Co. (NYSE:AJG) by 3.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 109,033 shares of the financial services provider’s stock after selling 4,021 shares during the quarter. Victory Capital Management Inc.’s holdings in Arthur J. Gallagher & Co. were worth $24,519,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Beaird Harris Wealth Management LLC lifted its position in shares of Arthur J. Gallagher & Co. by 175.6% during the 3rd quarter. Beaird Harris Wealth Management LLC now owns 113 shares of the financial services provider’s stock worth $26,000 after buying an additional 72 shares in the last quarter. Annis Gardner Whiting Capital Advisors LLC bought a new stake in Arthur J. Gallagher & Co. during the third quarter worth $28,000. SJS Investment Consulting Inc. boosted its position in Arthur J. Gallagher & Co. by 460.9% in the fourth quarter. SJS Investment Consulting Inc. now owns 129 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 106 shares during the last quarter. Ruedi Wealth Management Inc. bought a new position in Arthur J. Gallagher & Co. in the 4th quarter valued at $33,000. Finally, Milestone Investment Advisors LLC purchased a new stake in shares of Arthur J. Gallagher & Co. during the 3rd quarter valued at $45,000. Hedge funds and other institutional investors own 85.53% of the company’s stock.

Insider Buying and Selling

In related news, VP Joel D. Cavaness sold 1,207 shares of the business’s stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $255.20, for a total transaction of $308,026.40. Following the transaction, the vice president now owns 2,023 shares in the company, valued at approximately $516,269.60. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Arthur J. Gallagher & Co. news, VP Scott R. Hudson sold 15,000 shares of the stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $255.06, for a total value of $3,825,900.00. Following the completion of the transaction, the vice president now owns 96,709 shares in the company, valued at $24,666,597.54. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Joel D. Cavaness sold 1,207 shares of the business’s stock in a transaction on Monday, March 18th. The shares were sold at an average price of $255.20, for a total transaction of $308,026.40. Following the sale, the vice president now owns 2,023 shares in the company, valued at approximately $516,269.60. The disclosure for this sale can be found here. 1.60% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several research firms recently weighed in on AJG. Keefe, Bruyette & Woods reduced their price target on shares of Arthur J. Gallagher & Co. from $246.00 to $240.00 and set an “underperform” rating for the company in a research report on Wednesday, April 10th. Piper Sandler dropped their price objective on Arthur J. Gallagher & Co. from $253.00 to $252.00 and set a “neutral” rating on the stock in a research note on Monday, April 29th. Truist Financial reissued a “hold” rating and issued a $255.00 target price (down from $280.00) on shares of Arthur J. Gallagher & Co. in a research report on Wednesday, April 10th. TD Cowen increased their price target on Arthur J. Gallagher & Co. from $249.00 to $273.00 and gave the stock a “hold” rating in a research note on Tuesday, April 2nd. Finally, Royal Bank of Canada boosted their price objective on Arthur J. Gallagher & Co. from $270.00 to $282.00 and gave the company an “outperform” rating in a research note on Friday, March 22nd. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, Arthur J. Gallagher & Co. currently has a consensus rating of “Hold” and an average price target of $255.31.

Arthur J. Gallagher & Co. Price Performance

AJG stock opened at $245.08 on Thursday. The firm has a 50 day simple moving average of $243.71 and a two-hundred day simple moving average of $239.27. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.05 and a quick ratio of 1.05. The stock has a market cap of $53.55 billion, a PE ratio of 49.61, a P/E/G ratio of 2.23 and a beta of 0.69. Arthur J. Gallagher & Co. has a one year low of $198.52 and a one year high of $256.10.

Arthur J. Gallagher & Co. (NYSE:AJG) last released its earnings results on Thursday, April 25th. The financial services provider reported $3.49 EPS for the quarter, beating analysts’ consensus estimates of $3.41 by $0.08. The business had revenue of $3.22 billion for the quarter, compared to analysts’ expectations of $3.18 billion. Arthur J. Gallagher & Co. had a return on equity of 18.94% and a net margin of 10.27%. The firm’s revenue was up 20.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $3.03 earnings per share. On average, analysts predict that Arthur J. Gallagher & Co. will post 10.08 EPS for the current fiscal year.

Arthur J. Gallagher & Co. Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, June 21st. Stockholders of record on Friday, June 7th will be paid a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 0.98%. The ex-dividend date of this dividend is Friday, June 7th. Arthur J. Gallagher & Co.’s dividend payout ratio (DPR) is presently 48.58%.

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 entities and individuals 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.