B. Riley Wealth Advisors Inc. Cuts Holdings in Arthur J. Gallagher & Co. (NYSE:AJG)

B. Riley Wealth Advisors Inc. decreased its holdings in Arthur J. Gallagher & Co. (NYSE:AJG) by 14.3% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 10,664 shares of the financial services provider’s stock after selling 1,773 shares during the quarter. B. Riley Wealth Advisors Inc.’s holdings in Arthur J. Gallagher & Co. were worth $2,398,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Norges Bank acquired a new stake in Arthur J. Gallagher & Co. in the 4th quarter valued at about $1,308,316,000. Brown Advisory Inc. raised its position in shares of Arthur J. Gallagher & Co. by 1,210.9% during the 4th quarter. Brown Advisory Inc. now owns 1,383,480 shares of the financial services provider’s stock worth $311,117,000 after purchasing an additional 1,277,945 shares during the last quarter. Capital World Investors grew its holdings in Arthur J. Gallagher & Co. by 24.9% during the 4th quarter. Capital World Investors now owns 4,433,710 shares of the financial services provider’s stock valued at $997,053,000 after buying an additional 884,394 shares during the last quarter. Capital International Investors raised its holdings in shares of Arthur J. Gallagher & Co. by 7.0% in the fourth quarter. Capital International Investors now owns 10,323,616 shares of the financial services provider’s stock worth $2,321,493,000 after acquiring an additional 672,404 shares during the last quarter. Finally, Chilton Investment Co. Inc. lifted its position in shares of Arthur J. Gallagher & Co. by 476.2% in the fourth quarter. Chilton Investment Co. Inc. now owns 484,548 shares of the financial services provider’s stock valued at $108,965,000 after acquiring an additional 400,453 shares in the last quarter. Institutional investors and hedge funds own 85.53% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. Royal Bank of Canada upped their target price on shares of Arthur J. Gallagher & Co. from $270.00 to $282.00 and gave the company an “outperform” rating in a report on Friday, March 22nd. Keefe, Bruyette & Woods lowered their target price on shares of 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. TD Cowen increased their price target on Arthur J. Gallagher & Co. from $249.00 to $273.00 and gave the stock a “hold” rating in a research note on Tuesday, April 2nd. Bank of America increased their price target on Arthur J. Gallagher & Co. from $233.00 to $255.00 and gave the stock an “underperform” rating in a research note on Wednesday, May 22nd. Finally, Truist Financial reissued a “hold” rating and set a $255.00 price target (down previously from $280.00) on shares of Arthur J. Gallagher & Co. in a research note on Wednesday, April 10th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $260.58.

Arthur J. Gallagher & Co. Trading Up 1.1 %

Shares of AJG stock opened at $261.16 on Tuesday. Arthur J. Gallagher & Co. has a fifty-two week low of $209.39 and a fifty-two week high of $262.50. The firm’s 50 day moving average price is $246.50 and its two-hundred day moving average price is $241.49. The stock has a market cap of $57.06 billion, a price-to-earnings ratio of 52.87, a price-to-earnings-growth ratio of 2.34 and a beta of 0.72. 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 announced its quarterly earnings results on Thursday, April 25th. The financial services provider reported $3.49 earnings per share for the quarter, topping analysts’ consensus estimates 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 prior year, the company earned $3.03 EPS. The firm’s revenue was up 20.4% on a year-over-year basis. On average, analysts anticipate that Arthur J. Gallagher & Co. will post 10.06 EPS for the current year.

Arthur J. Gallagher & Co. Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, June 21st. Shareholders of record on Friday, June 7th will be issued a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 0.92%. The ex-dividend date is Friday, June 7th. Arthur J. Gallagher & Co.’s dividend payout ratio is presently 48.58%.

Insider Buying and Selling at Arthur J. Gallagher & Co.

In other news, General Counsel Walter D. Bay sold 800 shares of the company’s stock in a transaction on Monday, May 20th. The shares were sold at an average price of $257.24, for a total value of $205,792.00. Following the completion of the transaction, the general counsel now directly owns 44,691 shares in the company, valued at $11,496,312.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CFO Douglas K. Howell sold 16,000 shares of the stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $248.41, for a total transaction of $3,974,560.00. Following the completion of the transaction, the chief financial officer now directly owns 80,952 shares in the company, valued at approximately $20,109,286.32. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, General Counsel Walter D. Bay sold 800 shares of Arthur J. Gallagher & Co. stock in a transaction on Monday, May 20th. The stock was sold at an average price of $257.24, for a total transaction of $205,792.00. Following the completion of the sale, the general counsel now owns 44,691 shares of the company’s stock, valued at approximately $11,496,312.84. The disclosure for this sale can be found here. Insiders sold 34,862 shares of company stock valued at $8,813,019 over the last 90 days. 1.60% of the stock is owned by corporate insiders.

Arthur J. Gallagher & Co. Company 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.