Arthur J. Gallagher & Co. (NYSE:AJG) Shares Acquired by Park Avenue Securities LLC

Park Avenue Securities LLC increased its stake in Arthur J. Gallagher & Co. (NYSE:AJG) by 8.1% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 30,518 shares of the financial services provider’s stock after buying an additional 2,293 shares during the quarter. Park Avenue Securities LLC’s holdings in Arthur J. Gallagher & Co. were worth $7,631,000 as of its most recent filing with the SEC.

A number of other large investors have also modified their holdings of the stock. Beaird Harris Wealth Management LLC grew its stake in Arthur J. Gallagher & Co. by 175.6% during the 3rd quarter. Beaird Harris Wealth Management LLC now owns 113 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 72 shares in the last quarter. Richardson Financial Services Inc. acquired a new stake in Arthur J. Gallagher & Co. during the 4th quarter valued at approximately $27,000. SJS Investment Consulting Inc. grew its stake in 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 valued at $29,000 after purchasing an additional 106 shares in the last quarter. Transcendent Capital Group LLC acquired a new stake in Arthur J. Gallagher & Co. during the 4th quarter valued at approximately $31,000. Finally, Ruedi Wealth Management Inc. acquired a new stake in Arthur J. Gallagher & Co. during the 4th quarter valued at approximately $33,000. Institutional investors and hedge funds own 85.53% of the company’s stock.

Insider Activity

In related news, CFO Douglas K. Howell sold 16,000 shares of Arthur J. Gallagher & Co. stock in a transaction on Friday, May 10th. The stock was sold at an average price of $248.41, for a total value of $3,974,560.00. Following the transaction, the chief financial officer now directly owns 80,952 shares in the company, valued at approximately $20,109,286.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CFO Douglas K. Howell sold 16,000 shares of the firm’s stock in a transaction on Friday, May 10th. The stock was sold at an average price of $248.41, for a total value of $3,974,560.00. Following the completion of the sale, the chief financial officer now owns 80,952 shares of the company’s stock, valued at $20,109,286.32. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director David S. Johnson sold 850 shares of Arthur J. Gallagher & Co. stock in a transaction on Wednesday, May 22nd. The shares were sold at an average price of $257.84, for a total value of $219,164.00. Following the sale, the director now directly owns 45,108 shares of the company’s stock, valued at approximately $11,630,646.72. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 53,165 shares of company stock worth $13,629,049. 1.60% of the stock is owned by company insiders.

Analysts Set New Price Targets

AJG has been the topic of a number of research analyst reports. Argus increased their target price on Arthur J. Gallagher & Co. from $264.00 to $270.00 and gave the stock a “buy” rating in a report on Tuesday, May 14th. TD Cowen increased 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. Piper Sandler reduced their target price on Arthur J. Gallagher & Co. from $253.00 to $252.00 and set a “neutral” rating on the stock in a report on Monday, April 29th. Truist Financial reissued a “hold” rating and issued a $255.00 price target (down previously from $280.00) on shares of Arthur J. Gallagher & Co. in a report on Wednesday, April 10th. Finally, Keefe, Bruyette & Woods cut their price target on Arthur J. Gallagher & Co. from $246.00 to $240.00 and set an “underperform” rating on the stock in a report on Wednesday, April 10th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, Arthur J. Gallagher & Co. currently has a consensus rating of “Hold” and a consensus target price of $260.58.

Arthur J. Gallagher & Co. Stock Down 0.0 %

Shares of Arthur J. Gallagher & Co. stock opened at $264.57 on Friday. Arthur J. Gallagher & Co. has a 1-year low of $209.39 and a 1-year high of $264.90. The company has a market capitalization of $57.81 billion, a P/E ratio of 53.56, a PEG ratio of 2.40 and a beta of 0.72. The business’s fifty day moving average price is $248.42 and its two-hundred day moving average price is $242.01. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.05 and a quick ratio of 1.05.

Arthur J. Gallagher & Co. (NYSE:AJG) last issued its quarterly 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 return on equity of 18.94% and a net margin of 10.27%. The company had revenue of $3.22 billion for the quarter, compared to analysts’ expectations of $3.18 billion. During the same period last year, the firm earned $3.03 EPS. The firm’s revenue for the quarter was up 20.4% on a year-over-year basis. As a group, research analysts forecast that Arthur J. Gallagher & Co. will post 10.06 EPS for the current year.

Arthur J. Gallagher & Co. Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 21st. Stockholders of record on Friday, June 7th were given a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 0.91%. The ex-dividend date of this dividend was Friday, June 7th. Arthur J. Gallagher & Co.’s dividend payout ratio (DPR) is presently 48.58%.

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.