Huntington National Bank Purchases 193 Shares of Arthur J. Gallagher & Co. (NYSE:AJG)

Huntington National Bank raised its position in shares of Arthur J. Gallagher & Co. (NYSE:AJG) by 12.9% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,693 shares of the financial services provider’s stock after purchasing an additional 193 shares during the quarter. Huntington National Bank’s holdings in Arthur J. Gallagher & Co. were worth $481,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in AJG. Catalina Capital Group LLC increased its holdings in Arthur J. Gallagher & Co. by 1.0% during the fourth quarter. Catalina Capital Group LLC now owns 3,380 shares of the financial services provider’s stock valued at $959,000 after buying an additional 35 shares during the last quarter. Greenleaf Trust increased its stake in shares of Arthur J. Gallagher & Co. by 1.1% in the 4th quarter. Greenleaf Trust now owns 3,310 shares of the financial services provider’s stock worth $940,000 after purchasing an additional 36 shares in the last quarter. HBK Sorce Advisory LLC lifted its position in Arthur J. Gallagher & Co. by 3.2% during the fourth quarter. HBK Sorce Advisory LLC now owns 1,173 shares of the financial services provider’s stock valued at $333,000 after purchasing an additional 36 shares in the last quarter. Brendel Financial Advisors LLC grew its holdings in Arthur J. Gallagher & Co. by 0.5% during the fourth quarter. Brendel Financial Advisors LLC now owns 7,237 shares of the financial services provider’s stock valued at $2,054,000 after purchasing an additional 38 shares during the period. Finally, Tucker Asset Management LLC raised its stake in shares of Arthur J. Gallagher & Co. by 3.0% in the fourth quarter. Tucker Asset Management LLC now owns 1,419 shares of the financial services provider’s stock worth $403,000 after buying an additional 41 shares during the period. Institutional investors own 85.53% of the company’s stock.

Arthur J. Gallagher & Co. Stock Performance

Shares of Arthur J. Gallagher & Co. stock opened at $318.97 on Friday. The company has a quick ratio of 1.51, a current ratio of 1.51 and a debt-to-equity ratio of 0.63. The stock’s fifty day moving average is $326.40 and its two-hundred day moving average is $302.40. Arthur J. Gallagher & Co. has a 52 week low of $230.08 and a 52 week high of $350.70. The company has a market capitalization of $81.57 billion, a PE ratio of 48.92 and a beta of 0.75.

Arthur J. Gallagher & Co. (NYSE:AJG) last posted its quarterly earnings results on Thursday, January 30th. The financial services provider reported $2.13 EPS for the quarter, topping 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, analysts expect that Arthur J. Gallagher & Co. will post 11.54 earnings per share for the current year.

Arthur J. Gallagher & Co. Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 21st. Stockholders of record on Friday, March 7th were paid a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a dividend yield of 0.82%. The ex-dividend date was Friday, March 7th. This is an increase from Arthur J. Gallagher & Co.’s previous quarterly dividend of $0.60. Arthur J. Gallagher & Co.’s payout ratio is currently 39.88%.

Analysts Set New Price Targets

Several equities analysts have weighed in on AJG shares. Redburn Atlantic started coverage on shares of Arthur J. Gallagher & Co. in a report on Tuesday, March 25th. They set a “neutral” rating and a $352.00 price target on the stock. TD Cowen raised Arthur J. Gallagher & Co. from a “hold” rating to a “buy” rating and upped their price objective for the stock from $295.00 to $377.00 in a research note on Friday, January 10th. Piper Sandler raised Arthur J. Gallagher & Co. from a “neutral” rating to an “overweight” rating and boosted their price target for the stock from $285.00 to $315.00 in a report on Wednesday, January 8th. Wells Fargo & Company lifted their price objective on shares of Arthur J. Gallagher & Co. from $341.00 to $370.00 and gave the company an “overweight” rating in a research report on Friday, March 21st. Finally, Royal Bank of Canada upped their target price on shares of Arthur J. Gallagher & Co. from $320.00 to $340.00 and gave the stock an “outperform” rating in a research report on Friday, January 31st. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and six have given a buy rating to the company. According to MarketBeat.com, Arthur J. Gallagher & Co. currently has a consensus rating of “Hold” and a consensus target price of $313.20.

Insider Activity at Arthur J. Gallagher & Co.

In related news, VP Christopher E. Mead sold 2,900 shares of Arthur J. Gallagher & Co. 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 sale, the vice president now directly owns 14,674 shares in the company, valued at $4,440,499.14. The trade was a 16.50 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Sherry S. Barrat sold 2,500 shares of the stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $304.33, for a total transaction of $760,825.00. Following the transaction, the director now owns 16,533 shares in the company, valued at approximately $5,031,487.89. The trade was a 13.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 23,235 shares of company stock worth $7,478,224. Company insiders own 1.60% of the company’s stock.

Arthur J. Gallagher & Co. Company Profile

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.