Private Advisor Group LLC Acquires 2,353 Shares of Arthur J. Gallagher & Co. (NYSE:AJG)

Private Advisor Group LLC boosted its holdings in Arthur J. Gallagher & Co. (NYSE:AJG) by 7.1% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 35,316 shares of the financial services provider’s stock after acquiring an additional 2,353 shares during the quarter. Private Advisor Group LLC’s holdings in Arthur J. Gallagher & Co. were worth $7,942,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in AJG. Spire Wealth Management increased its position in shares of Arthur J. Gallagher & Co. by 51.8% during the 4th quarter. Spire Wealth Management now owns 1,781 shares of the financial services provider’s stock worth $425,000 after purchasing an additional 608 shares during the last quarter. Connecticut Wealth Management LLC increased its position in Arthur J. Gallagher & Co. by 235.6% during the fourth quarter. Connecticut Wealth Management LLC now owns 4,228 shares of the financial services provider’s stock worth $951,000 after acquiring an additional 2,968 shares during the period. National Bank of Canada FI raised its holdings in Arthur J. Gallagher & Co. by 3.2% in the 4th quarter. National Bank of Canada FI now owns 92,061 shares of the financial services provider’s stock valued at $20,713,000 after acquiring an additional 2,821 shares in the last quarter. Forte Capital LLC ADV lifted its position in Arthur J. Gallagher & Co. by 1.9% during the fourth quarter. Forte Capital LLC ADV now owns 2,395 shares of the financial services provider’s stock worth $539,000 after purchasing an additional 44 shares during the period. Finally, Vestmark Advisory Solutions Inc. raised its position in shares of Arthur J. Gallagher & Co. by 6.2% in the 4th quarter. Vestmark Advisory Solutions Inc. now owns 9,010 shares of the financial services provider’s stock valued at $2,026,000 after buying an additional 525 shares in the last quarter. Institutional investors and hedge funds own 85.53% of the company’s stock.

Arthur J. Gallagher & Co. Price Performance

Shares of Arthur J. Gallagher & Co. stock traded up $0.58 on Wednesday, hitting $245.60. 9,735 shares of the company were exchanged, compared to its average volume of 851,454. Arthur J. Gallagher & Co. has a 1-year low of $198.52 and a 1-year high of $256.10. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.70. The company has a 50-day moving average price of $243.71 and a 200 day moving average price of $239.27. The stock has a market capitalization of $53.66 billion, a price-to-earnings ratio of 49.60, a price-to-earnings-growth ratio of 2.23 and a beta of 0.69.

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

Arthur J. Gallagher & Co. Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 21st. Investors of record on Friday, June 7th will be paid a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 0.98%. The ex-dividend date of this dividend is Friday, June 7th. Arthur J. Gallagher & Co.’s dividend payout ratio (DPR) is 48.58%.

Analysts Set New Price Targets

Several research analysts have commented on the company. TD Cowen lifted their target price on Arthur J. Gallagher & Co. from $249.00 to $273.00 and gave the stock a “hold” rating in a report on Tuesday, April 2nd. Royal Bank of Canada lifted their price objective on shares of Arthur J. Gallagher & Co. from $270.00 to $282.00 and gave the stock an “outperform” rating in a research report on Friday, March 22nd. Piper Sandler lowered their price target on shares of Arthur J. Gallagher & Co. from $253.00 to $252.00 and set a “neutral” rating on the stock in a research report on Monday, April 29th. Truist Financial reissued a “hold” rating and issued a $255.00 price target (down from $280.00) on shares of Arthur J. Gallagher & Co. in a report on Wednesday, April 10th. Finally, Jefferies Financial Group lowered 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 note on Tuesday, January 9th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $255.31.

Insider Activity

In other Arthur J. Gallagher & Co. news, VP Thomas Joseph Gallagher sold 12,309 shares of the company’s stock in a transaction dated 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 transaction, the vice president now directly owns 322,797 shares in the company, valued at approximately $76,712,707.05. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, VP Thomas Joseph Gallagher sold 12,309 shares of the firm’s 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 transaction, the vice president now owns 322,797 shares of the company’s stock, valued at approximately $76,712,707.05. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP Scott R. Hudson sold 15,000 shares of the company’s stock in a transaction dated 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 of the company’s stock, valued at approximately $24,666,597.54. The disclosure for this sale can be found here. In the last three months, insiders sold 28,516 shares of company stock worth $7,059,160. Company insiders own 1.60% of the company’s stock.

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.