Axxcess Wealth Management LLC Sells 2,664 Shares of Arthur J. Gallagher & Co. (NYSE:AJG)

Axxcess Wealth Management LLC cut its position in shares of Arthur J. Gallagher & Co. (NYSE:AJG) by 34.0% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 5,179 shares of the financial services provider’s stock after selling 2,664 shares during the period. Axxcess Wealth Management LLC’s holdings in Arthur J. Gallagher & Co. were worth $1,165,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also made changes to their positions in AJG. Beaird Harris Wealth Management LLC raised its stake in Arthur J. Gallagher & Co. by 175.6% in the third quarter. Beaird Harris Wealth Management LLC now owns 113 shares of the financial services provider’s stock worth $26,000 after buying an additional 72 shares in the last quarter. Annis Gardner Whiting Capital Advisors LLC bought a new position in shares of Arthur J. Gallagher & Co. in the 3rd quarter worth $28,000. SJS Investment Consulting Inc. lifted its stake in shares of Arthur J. Gallagher & Co. by 460.9% during the 4th quarter. SJS Investment Consulting Inc. now owns 129 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 106 shares during the last quarter. Ruedi Wealth Management Inc. purchased a new position in Arthur J. Gallagher & Co. in the fourth quarter valued at about $33,000. Finally, Milestone Investment Advisors LLC bought a new position in Arthur J. Gallagher & Co. in the third quarter worth about $45,000. 85.53% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Director David S. Johnson sold 500 shares of the business’s stock in a transaction that occurred on Tuesday, February 6th. The stock was sold at an average price of $234.04, for a total value of $117,020.00. Following the completion of the sale, the director now directly owns 45,038 shares in the company, valued at $10,540,693.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director David S. Johnson sold 500 shares of Arthur J. Gallagher & Co. stock in a transaction dated 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 owns 45,038 shares in the company, valued at $10,540,693.52. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP Joel D. Cavaness sold 1,207 shares of the business’s stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $255.20, for a total transaction of $308,026.40. Following the sale, the vice president now directly owns 2,023 shares of the company’s stock, valued at approximately $516,269.60. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 29,016 shares of company stock worth $7,176,180. 1.60% of the stock is owned by corporate insiders.

Arthur J. Gallagher & Co. Stock Up 0.1 %

Arthur J. Gallagher & Co. stock opened at $238.72 on Monday. Arthur J. Gallagher & Co. has a 52 week low of $198.52 and a 52 week high of $256.10. The firm has a market cap of $52.16 billion, a price-to-earnings ratio of 48.32, a price-to-earnings-growth ratio of 2.23 and a beta of 0.69. The business’s 50-day moving average price is $243.70 and its 200 day moving average price is $239.06. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.70.

Arthur J. Gallagher & Co. (NYSE:AJG) last posted its earnings results on Thursday, April 25th. The financial services provider reported $3.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.41 by $0.08. Arthur J. Gallagher & Co. had a net margin of 10.27% and a return on equity of 18.94%. The firm had revenue of $3.22 billion during the quarter, compared to analysts’ expectations of $3.18 billion. During the same period in the previous year, the business posted $3.03 EPS. The business’s revenue was up 20.4% compared to the same quarter last year. As a group, sell-side analysts anticipate that Arthur J. Gallagher & Co. will post 10.08 earnings per share for the current year.

Arthur J. Gallagher & Co. Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 21st. Investors of record on Friday, June 7th will be issued a $0.60 dividend. The ex-dividend date is Friday, June 7th. This represents a $2.40 dividend on an annualized basis and a yield of 1.01%. Arthur J. Gallagher & Co.’s payout ratio is 48.58%.

Analysts Set New Price Targets

Several analysts have recently commented on AJG shares. Piper Sandler decreased their price objective on Arthur J. Gallagher & Co. from $253.00 to $252.00 and set a “neutral” rating for the company in a report on Monday, April 29th. Keefe, Bruyette & Woods lowered their price target on Arthur J. Gallagher & Co. from $246.00 to $240.00 and set an “underperform” rating for the company in a report on Wednesday, April 10th. TD Cowen upped their price objective on shares of Arthur J. Gallagher & Co. from $249.00 to $273.00 and gave the company a “hold” rating in a report on Tuesday, April 2nd. Truist Financial reiterated a “hold” rating and issued a $255.00 target price (down from $280.00) on shares of Arthur J. Gallagher & Co. in a research note on Wednesday, April 10th. Finally, Jefferies Financial Group cut shares of Arthur J. Gallagher & Co. from a “buy” rating to a “hold” rating and decreased their price target for the stock from $279.00 to $233.00 in a report on Tuesday, January 9th. One research analyst has rated the stock with a sell rating, six have given a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Arthur J. Gallagher & Co. has an average rating of “Hold” and a consensus price target of $255.31.

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.