Tyche Wealth Partners LLC Acquires Shares of 2,067 Arthur J. Gallagher & Co. (NYSE:AJG)

Tyche Wealth Partners LLC purchased a new stake in Arthur J. Gallagher & Co. (NYSE:AJG) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 2,067 shares of the financial services provider’s stock, valued at approximately $587,000.

A number of other institutional investors have also made changes to their positions in the stock. Valley National Advisers Inc. acquired a new position in shares of Arthur J. Gallagher & Co. during the 4th quarter worth about $25,000. Pin Oak Investment Advisors Inc. grew its holdings in Arthur J. Gallagher & Co. by 543.8% during the third quarter. Pin Oak Investment Advisors Inc. now owns 103 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 87 shares during the period. Rakuten Securities Inc. raised its holdings in Arthur J. Gallagher & Co. by 580.0% in the third quarter. Rakuten Securities Inc. now owns 102 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 87 shares during the period. E Fund Management Hong Kong Co. Ltd. acquired a new position in shares of Arthur J. Gallagher & Co. in the 4th quarter valued at $35,000. Finally, Financial Life Planners bought a new stake in shares of Arthur J. Gallagher & Co. in the 4th quarter valued at $36,000. 85.53% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

AJG has been the subject of a number of research analyst reports. Bank of America boosted their target price on Arthur J. Gallagher & Co. from $271.00 to $293.00 and gave the company an “underperform” rating in a research note on Thursday, October 10th. Truist Financial raised their target price on shares of Arthur J. Gallagher & Co. from $275.00 to $290.00 and gave the stock a “hold” rating in a report on Friday, January 31st. Keefe, Bruyette & Woods increased their price objective on shares of Arthur J. Gallagher & Co. from $286.00 to $295.00 and gave the stock a “market perform” rating in a research report on Friday, January 31st. 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 note on Friday, January 31st. Finally, Piper Sandler raised Arthur J. Gallagher & Co. from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $285.00 to $315.00 in a research note on Wednesday, January 8th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, Arthur J. Gallagher & Co. presently has an average rating of “Hold” and a consensus price target of $307.00.

Arthur J. Gallagher & Co. Stock Up 1.3 %

Arthur J. Gallagher & Co. stock opened at $316.14 on Thursday. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.51 and a quick ratio of 1.06. The company’s 50-day moving average is $291.70 and its 200-day moving average is $289.51. The firm has a market capitalization of $78.97 billion, a PE ratio of 48.49 and a beta of 0.77. Arthur J. Gallagher & Co. has a fifty-two week low of $230.08 and a fifty-two week high of $316.72.

Arthur J. Gallagher & Co. (NYSE:AJG) last released its quarterly earnings data on Thursday, January 30th. The financial services provider reported $2.13 earnings per share (EPS) for the quarter, beating 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%. Sell-side analysts anticipate that Arthur J. Gallagher & Co. will post 11.53 earnings per share for the current year.

Arthur J. Gallagher & Co. Increases Dividend

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

Insider Activity at Arthur J. Gallagher & Co.

In other news, Director Sherry S. Barrat sold 2,500 shares of the business’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $304.33, for a total value of $760,825.00. Following the completion of the sale, the director now owns 16,533 shares of the company’s stock, valued at approximately $5,031,487.89. The trade was a 13.14 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, 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 transaction of $877,569.00. Following the completion of the sale, the vice president now owns 14,674 shares of the company’s stock, valued at $4,440,499.14. This trade represents a 16.50 % decrease in their position. The disclosure for this sale can be found here. 1.60% of the stock is owned by company 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.