Eagle Wealth Strategies LLC Buys New Shares in Arthur J. Gallagher & Co. (NYSE:AJG)

Eagle Wealth Strategies LLC bought a new stake in Arthur J. Gallagher & Co. (NYSE:AJG) during the fourth quarter, HoldingsChannel reports. The firm bought 8,691 shares of the financial services provider’s stock, valued at approximately $1,954,000. Arthur J. Gallagher & Co. comprises about 1.2% of Eagle Wealth Strategies LLC’s holdings, making the stock its 12th largest holding.

Other hedge funds and other institutional investors have also modified their holdings of the company. Greenleaf Trust boosted its holdings in shares of Arthur J. Gallagher & Co. by 1.4% during the third quarter. Greenleaf Trust now owns 2,967 shares of the financial services provider’s stock worth $676,000 after acquiring an additional 42 shares during the period. Pinnacle Bancorp Inc. boosted its holdings in shares of Arthur J. Gallagher & Co. by 14.3% during the fourth quarter. Pinnacle Bancorp Inc. now owns 343 shares of the financial services provider’s stock worth $77,000 after acquiring an additional 43 shares during the period. HBK Sorce Advisory LLC boosted its holdings in shares of Arthur J. Gallagher & Co. by 3.9% during the third quarter. HBK Sorce Advisory LLC now owns 1,230 shares of the financial services provider’s stock worth $280,000 after acquiring an additional 46 shares during the period. Fidelis Capital Partners LLC boosted its holdings in shares of Arthur J. Gallagher & Co. by 3.7% during the third quarter. Fidelis Capital Partners LLC now owns 1,325 shares of the financial services provider’s stock worth $302,000 after acquiring an additional 47 shares during the period. Finally, Cambridge Trust Co. boosted its holdings in shares of Arthur J. Gallagher & Co. by 5.1% during the fourth quarter. Cambridge Trust Co. now owns 969 shares of the financial services provider’s stock worth $218,000 after acquiring an additional 47 shares during the period. Institutional investors and hedge funds own 85.53% of the company’s stock.

Arthur J. Gallagher & Co. Stock Down 1.2 %

Shares of AJG opened at $234.11 on Monday. The firm has a 50 day simple moving average of $244.23 and a two-hundred day simple moving average of $239.00. The company has a market cap of $51.11 billion, a P/E ratio of 47.39, a P/E/G ratio of 2.20 and a beta of 0.68. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.05 and a quick ratio of 1.03. 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 announced its quarterly earnings results on Thursday, January 25th. The financial services provider reported $1.85 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.83 by $0.02. The company had revenue of $2.39 billion during the quarter, compared to the consensus estimate of $2.40 billion. Arthur J. Gallagher & Co. had a net margin of 10.27% and a return on equity of 18.94%. During the same period in the prior year, the business earned $1.54 earnings per share. Research analysts forecast that Arthur J. Gallagher & Co. will post 10.06 EPS for the current fiscal year.

Arthur J. Gallagher & Co. Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 21st. Stockholders of record on Friday, June 7th will be issued a dividend of $0.60 per share. The ex-dividend date is Friday, June 7th. This represents a $2.40 annualized dividend and a dividend yield of 1.03%. Arthur J. Gallagher & Co.’s dividend payout ratio (DPR) is presently 48.58%.

Analysts Set New Price Targets

AJG has been the subject of a number of research analyst reports. Jefferies Financial Group cut Arthur J. Gallagher & Co. from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $279.00 to $233.00 in a report on Tuesday, January 9th. Royal Bank of Canada boosted their price target 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. Truist Financial reiterated a “hold” rating and issued a $255.00 price target (down from $280.00) on shares of Arthur J. Gallagher & Co. in a research note on Wednesday, April 10th. TD Cowen boosted their price target on Arthur J. Gallagher & Co. from $249.00 to $273.00 and gave the company a “hold” rating in a research note on Tuesday, April 2nd. Finally, Keefe, Bruyette & Woods cut their price target on Arthur J. Gallagher & Co. from $246.00 to $240.00 and set an “underperform” rating for the company in a research note on Wednesday, April 10th. One analyst has rated the stock with a sell rating, six have issued a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $255.31.

Insider Activity at Arthur J. Gallagher & Co.

In related 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 sale, the vice president now directly owns 96,709 shares in the company, valued at $24,666,597.54. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related 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 sale, the vice president now directly owns 96,709 shares in the company, valued at $24,666,597.54. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Thomas Joseph Gallagher sold 12,309 shares of the stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $237.65, for a total value of $2,925,233.85. Following the completion of the sale, the vice president now owns 322,797 shares of the company’s stock, valued at $76,712,707.05. The disclosure for this sale can be found here. Insiders sold 29,016 shares of company stock worth $7,176,180 over the last three months. Company insiders own 1.60% of the company’s stock.

About Arthur J. Gallagher & Co.

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.