Frank Rimerman Advisors LLC Grows Position in Arthur J. Gallagher & Co. (NYSE:AJG)

Frank Rimerman Advisors LLC grew its stake in shares of Arthur J. Gallagher & Co. (NYSE:AJG) by 3.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 6,252 shares of the financial services provider’s stock after purchasing an additional 195 shares during the quarter. Frank Rimerman Advisors LLC’s holdings in Arthur J. Gallagher & Co. were worth $1,775,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in AJG. Pinnacle Financial Partners Inc boosted its stake in shares of Arthur J. Gallagher & Co. by 8.2% during the third quarter. Pinnacle Financial Partners Inc now owns 2,260 shares of the financial services provider’s stock valued at $636,000 after purchasing an additional 172 shares during the period. Huntington National Bank lifted its stake in Arthur J. Gallagher & Co. by 10.6% in the third quarter. Huntington National Bank now owns 1,500 shares of the financial services provider’s stock worth $422,000 after acquiring an additional 144 shares during the period. KBC Group NV lifted its stake in Arthur J. Gallagher & Co. by 36.6% in the third quarter. KBC Group NV now owns 198,368 shares of the financial services provider’s stock worth $55,815,000 after acquiring an additional 53,106 shares during the period. Curi RMB Capital LLC lifted its stake in Arthur J. Gallagher & Co. by 13.9% in the third quarter. Curi RMB Capital LLC now owns 3,501 shares of the financial services provider’s stock worth $985,000 after acquiring an additional 427 shares during the period. Finally, Metis Global Partners LLC lifted its stake in Arthur J. Gallagher & Co. by 17.9% in the third quarter. Metis Global Partners LLC now owns 9,389 shares of the financial services provider’s stock worth $2,642,000 after acquiring an additional 1,426 shares during the period. Hedge funds and other institutional investors own 85.53% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently commented on AJG shares. The Goldman Sachs Group lowered Arthur J. Gallagher & Co. from a “buy” rating to a “neutral” rating and set a $313.00 price target for the company. in a research note on Monday, November 25th. TD Cowen raised Arthur J. Gallagher & Co. from a “hold” rating to a “buy” rating and raised their price target for the stock from $295.00 to $377.00 in a research note on Friday, January 10th. Truist Financial raised their price target on Arthur J. Gallagher & Co. from $275.00 to $290.00 and gave the stock a “hold” rating in a research note on Friday, January 31st. Piper Sandler upgraded Arthur J. Gallagher & Co. from a “neutral” rating to an “overweight” rating and increased their price objective for the stock from $285.00 to $315.00 in a report on Wednesday, January 8th. Finally, Barclays increased their price objective on Arthur J. Gallagher & Co. from $300.00 to $308.00 and gave the stock an “equal weight” rating in a report on Thursday, November 21st. Two analysts have rated the stock with a sell rating, six have issued a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $307.93.

Arthur J. Gallagher & Co. Price Performance

NYSE AJG opened at $325.35 on Friday. Arthur J. Gallagher & Co. has a one year low of $230.08 and a one year high of $345.43. The stock has a 50-day moving average of $312.16 and a 200 day moving average of $298.11. The company has a market capitalization of $82.87 billion, a price-to-earnings ratio of 49.90 and a beta of 0.75. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.51 and a current ratio of 1.51.

Arthur J. Gallagher & Co. (NYSE:AJG) last released its quarterly earnings data on Thursday, January 30th. The financial services provider reported $2.13 EPS for the quarter, topping the consensus estimate of $2.03 by $0.10. Arthur J. Gallagher & Co. had a return on equity of 16.47% and a net margin of 12.70%. On average, sell-side analysts forecast that Arthur J. Gallagher & Co. will post 11.54 EPS for the current year.

Arthur J. Gallagher & Co. Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 21st. Investors of record on Friday, March 7th will be issued a $0.65 dividend. This represents a $2.60 annualized dividend and a yield of 0.80%. This is an increase from Arthur J. Gallagher & Co.’s previous quarterly dividend of $0.60. The ex-dividend date is Friday, March 7th. Arthur J. Gallagher & Co.’s dividend payout ratio (DPR) is presently 39.88%.

Insider Buying and Selling

In other Arthur J. Gallagher & Co. news, CAO Richard C. Cary sold 10,000 shares of the firm’s stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $322.99, for a total value of $3,229,900.00. Following the transaction, the chief accounting officer now directly owns 69,774 shares of the company’s stock, valued at approximately $22,536,304.26. This trade represents a 12.54 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Christopher E. Mead sold 2,900 shares of the firm’s 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 transaction, 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 disclosure for this sale can be found here. In the last ninety days, insiders sold 15,725 shares of company stock worth $4,972,964. 1.60% of the stock is owned by corporate insiders.

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 business segments: Brokerage, Risk Management, and Corporate. The Brokerage segment consists of retail and wholesale insurance brokerage operations.