Woodmont Investment Counsel LLC Acquires Shares of 944 Arthur J. Gallagher & Co. (NYSE:AJG)

Woodmont Investment Counsel LLC acquired a new stake in shares of Arthur J. Gallagher & Co. (NYSE:AJG) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 944 shares of the financial services provider’s stock, valued at approximately $236,000.

Other hedge funds have also bought and sold shares of the company. Beaird Harris Wealth Management LLC boosted its stake in shares of Arthur J. Gallagher & Co. by 175.6% during the third 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 during the period. Richardson Financial Services Inc. purchased a new stake in shares of Arthur J. Gallagher & Co. during the fourth quarter valued at $27,000. SJS Investment Consulting Inc. boosted its stake in shares of Arthur J. Gallagher & Co. by 460.9% during the fourth 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 during the period. Transcendent Capital Group LLC purchased a new stake in shares of Arthur J. Gallagher & Co. during the fourth quarter valued at $31,000. Finally, Ruedi Wealth Management Inc. purchased a new stake in shares of Arthur J. Gallagher & Co. during the fourth quarter valued at $33,000. Institutional investors own 85.53% of the company’s stock.

Insider Activity

In other news, VP Scott R. Hudson sold 10,000 shares of the company’s stock in a transaction dated Tuesday, June 18th. The shares were sold at an average price of $263.45, for a total transaction of $2,634,500.00. Following the transaction, the vice president now owns 93,730 shares in the company, valued at $24,693,168.50. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, Director David S. Johnson sold 850 shares of the stock in a transaction that occurred 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 transaction, the director now owns 45,108 shares in the company, valued at approximately $11,630,646.72. The sale was disclosed in a filing with the SEC, which is available through this link. Also, VP Scott R. Hudson sold 10,000 shares of the stock in a transaction that occurred on Tuesday, June 18th. The stock was sold at an average price of $263.45, for a total transaction of $2,634,500.00. Following the completion of the transaction, the vice president now owns 93,730 shares in the company, valued at approximately $24,693,168.50. The disclosure for this sale can be found here. Insiders have sold a total of 53,165 shares of company stock worth $13,629,049 over the last 90 days. 1.60% of the stock is currently owned by corporate insiders.

Arthur J. Gallagher & Co. Stock Performance

AJG stock opened at $261.93 on Wednesday. The firm has a market cap of $57.23 billion, a price-to-earnings ratio of 53.02, a PEG ratio of 2.32 and a beta of 0.72. The firm has a 50-day simple moving average of $251.52 and a two-hundred day simple moving average of $242.76. Arthur J. Gallagher & Co. has a one year low of $212.39 and a one year high of $266.39. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.05 and a current ratio of 1.05.

Arthur J. Gallagher & Co. (NYSE:AJG) last released its quarterly earnings results on Thursday, April 25th. The financial services provider reported $3.49 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 business had revenue of $3.22 billion during the quarter, compared to analyst estimates of $3.18 billion. During the same period in the prior year, the firm posted $3.03 earnings per share. The company’s quarterly revenue was up 20.4% on a year-over-year basis. On average, equities analysts forecast that Arthur J. Gallagher & Co. will post 10.09 EPS for the current fiscal year.

Arthur J. Gallagher & Co. Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 21st. Stockholders of record on Friday, June 7th were issued a dividend of $0.60 per share. The ex-dividend date of this dividend was Friday, June 7th. This represents a $2.40 annualized dividend and a dividend yield of 0.92%. Arthur J. Gallagher & Co.’s dividend payout ratio (DPR) is currently 48.58%.

Analyst Ratings Changes

A number of brokerages have recently issued reports on AJG. Piper Sandler lowered their target price on shares of Arthur J. Gallagher & Co. from $253.00 to $252.00 and set a “neutral” rating for the company in a research note on Monday, April 29th. TD Cowen upped their price objective on shares of 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. Wells Fargo & Company upped their price objective on shares of Arthur J. Gallagher & Co. from $274.00 to $282.00 and gave the stock an “overweight” rating in a research note on Wednesday, June 26th. Bank of America upped their price objective on shares of 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, Royal Bank of Canada upped their price objective on shares of Arthur J. Gallagher & Co. from $282.00 to $290.00 and gave the stock an “outperform” rating in a research note on Wednesday, June 26th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $263.00.

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.