Occidental Asset Management LLC Has $638,000 Holdings in Arthur J. Gallagher & Co. (NYSE:AJG)

Occidental Asset Management LLC lessened its stake in Arthur J. Gallagher & Co. (NYSE:AJG) by 6.2% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,837 shares of the financial services provider’s stock after selling 187 shares during the quarter. Occidental Asset Management LLC’s holdings in Arthur J. Gallagher & Co. were worth $638,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in AJG. Norges Bank bought a new stake in shares of Arthur J. Gallagher & Co. in the fourth quarter worth $1,431,788,000. FMR LLC lifted its position in shares of Arthur J. Gallagher & Co. by 8.1% in the third quarter. FMR LLC now owns 9,664,117 shares of the financial services provider’s stock worth $2,202,742,000 after purchasing an additional 726,485 shares in the last quarter. Morgan Stanley lifted its position in shares of Arthur J. Gallagher & Co. by 40.6% in the fourth quarter. Morgan Stanley now owns 2,143,144 shares of the financial services provider’s stock worth $404,069,000 after purchasing an additional 619,008 shares in the last quarter. Bank Julius Baer & Co. Ltd Zurich lifted its position in shares of Arthur J. Gallagher & Co. by 36,168.9% in the third quarter. Bank Julius Baer & Co. Ltd Zurich now owns 357,974 shares of the financial services provider’s stock worth $81,593,000 after purchasing an additional 356,987 shares in the last quarter. Finally, Congress Asset Management Co. MA lifted its position in shares of Arthur J. Gallagher & Co. by 7,923.4% in the third quarter. Congress Asset Management Co. MA now owns 298,871 shares of the financial services provider’s stock worth $68,122,000 after purchasing an additional 295,146 shares in the last quarter. Institutional investors own 85.53% of the company’s stock.

Wall Street Analyst Weigh In

AJG has been the topic of several analyst reports. Jefferies Financial Group lowered shares of Arthur J. Gallagher & Co. from a “buy” rating to a “hold” rating and dropped their price target for the stock from $279.00 to $233.00 in a research report on Tuesday, January 9th. Truist Financial reaffirmed a “buy” rating and set a $280.00 price target on shares of Arthur J. Gallagher & Co. in a research report on Tuesday. TD Cowen started coverage on shares of Arthur J. Gallagher & Co. in a research report on Wednesday, January 10th. They set a “market perform” rating and a $249.00 price target on the stock. Royal Bank of Canada increased their price objective on shares of Arthur J. Gallagher & Co. from $270.00 to $282.00 and gave the company an “outperform” rating in a research report on Friday, March 22nd. Finally, Keefe, Bruyette & Woods dropped their price objective on shares of Arthur J. Gallagher & Co. from $249.00 to $246.00 and set an “underperform” rating on the stock in a research report on Friday, January 26th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, Arthur J. Gallagher & Co. has an average rating of “Hold” and an average price target of $255.77.

Insiders Place Their Bets

In other Arthur J. Gallagher & Co. news, Director David S. Johnson sold 500 shares of the stock in a transaction dated Tuesday, February 6th. The shares were sold at an average price of $234.04, for a total transaction of $117,020.00. Following the sale, the director now directly owns 45,038 shares in the company, valued at $10,540,693.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, Director David S. Johnson sold 500 shares of the firm’s stock in a transaction that occurred on Tuesday, February 6th. The shares were sold at an average price of $234.04, for a total value of $117,020.00. Following the sale, the director now directly owns 45,038 shares in the company, valued at approximately $10,540,693.52. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Joel D. Cavaness sold 1,207 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the vice president now owns 2,023 shares in the company, valued at $516,269.60. The disclosure for this sale can be found here. Insiders have sold 29,016 shares of company stock worth $7,176,180 over the last ninety days. Corporate insiders own 1.60% of the company’s stock.

Arthur J. Gallagher & Co. Stock Performance

Shares of AJG stock traded up $2.25 on Friday, hitting $250.04. The company’s stock had a trading volume of 960,721 shares, compared to its average volume of 860,213. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.03 and a current ratio of 1.03. The stock’s 50 day moving average is $242.91 and its 200-day moving average is $237.72. Arthur J. Gallagher & Co. has a fifty-two week low of $186.88 and a fifty-two week high of $256.10. The company has a market capitalization of $54.58 billion, a PE ratio of 56.32, a PEG ratio of 2.38 and a beta of 0.68.

Arthur J. Gallagher & Co. (NYSE:AJG) last released its quarterly earnings results on Thursday, January 25th. The financial services provider reported $1.85 EPS for the quarter, beating the consensus estimate of $1.83 by $0.02. The business had revenue of $2.39 billion for the quarter, compared to the consensus estimate of $2.40 billion. Arthur J. Gallagher & Co. had a net margin of 9.63% and a return on equity of 18.49%. During the same period in the prior year, the company posted $1.54 earnings per share. Equities research analysts expect that Arthur J. Gallagher & Co. will post 10.07 earnings per share for the current fiscal year.

Arthur J. Gallagher & Co. Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Friday, March 1st were paid a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 0.96%. This is an increase from Arthur J. Gallagher & Co.’s previous quarterly dividend of $0.55. The ex-dividend date was Thursday, February 29th. Arthur J. Gallagher & Co.’s dividend payout ratio is presently 54.05%.

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.