Axxcess Wealth Management LLC Buys 686 Shares of Arthur J. Gallagher & Co. (NYSE:AJG)

Axxcess Wealth Management LLC lifted its holdings in Arthur J. Gallagher & Co. (NYSE:AJG) by 12.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,086 shares of the financial services provider’s stock after buying an additional 686 shares during the quarter. Axxcess Wealth Management LLC’s holdings in Arthur J. Gallagher & Co. were worth $1,578,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Creekmur Asset Management LLC purchased a new position in Arthur J. Gallagher & Co. in the 1st quarter worth about $27,000. DiNuzzo Private Wealth Inc. boosted its stake in shares of Arthur J. Gallagher & Co. by 89.7% in the 2nd quarter. DiNuzzo Private Wealth Inc. now owns 110 shares of the financial services provider’s stock worth $29,000 after buying an additional 52 shares during the last quarter. Y.D. More Investments Ltd purchased a new stake in Arthur J. Gallagher & Co. during the second quarter valued at $30,000. Richardson Financial Services Inc. bought a new position in Arthur J. Gallagher & Co. in the fourth quarter valued at about $27,000. Finally, Transcendent Capital Group LLC bought a new stake in shares of Arthur J. Gallagher & Co. during the 4th quarter valued at about $31,000. Hedge funds and other institutional investors own 85.53% of the company’s stock.

Arthur J. Gallagher & Co. Stock Performance

Shares of NYSE AJG opened at $291.18 on Thursday. The company has a market cap of $63.62 billion, a P/E ratio of 58.94, a P/E/G ratio of 2.47 and a beta of 0.72. Arthur J. Gallagher & Co. has a 52-week low of $218.63 and a 52-week high of $301.04. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.04 and a current ratio of 1.04. The firm’s fifty day moving average is $285.14 and its two-hundred day moving average is $262.35.

Arthur J. Gallagher & Co. (NYSE:AJG) last issued its earnings results on Thursday, July 25th. The financial services provider reported $2.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.24 by $0.02. Arthur J. Gallagher & Co. had a return on equity of 19.25% and a net margin of 10.41%. The firm had revenue of $2.73 billion for the quarter, compared to analysts’ expectations of $2.77 billion. During the same period in the previous year, the firm posted $1.90 earnings per share. The business’s revenue was up 14.3% compared to the same quarter last year. As a group, analysts anticipate that Arthur J. Gallagher & Co. will post 10.16 EPS for the current fiscal year.

Arthur J. Gallagher & Co. Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 20th. Investors of record on Friday, September 6th will be paid a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 0.82%. The ex-dividend date of this dividend is Friday, September 6th. Arthur J. Gallagher & Co.’s payout ratio is 48.58%.

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

In other news, President Thomas Joseph Gallagher sold 15,000 shares of the business’s stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $282.96, for a total value of $4,244,400.00. Following the sale, the president now directly owns 329,099 shares in the company, valued at approximately $93,121,853.04. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, President Thomas Joseph Gallagher sold 15,000 shares of Arthur J. Gallagher & Co. stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $282.96, for a total value of $4,244,400.00. Following the completion of the transaction, the president now owns 329,099 shares in the company, valued at approximately $93,121,853.04. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, General Counsel Walter D. Bay sold 6,335 shares of the stock in a transaction on Tuesday, July 30th. The shares were sold at an average price of $284.06, for a total value of $1,799,520.10. Following the sale, the general counsel now owns 30,053 shares in the company, valued at approximately $8,536,855.18. The disclosure for this sale can be found here. Insiders sold 37,145 shares of company stock worth $10,629,900 over the last 90 days. 1.60% of the stock is owned by insiders.

Analyst Ratings Changes

AJG has been the subject of several recent research reports. Bank Of America (Bofa) boosted their target price on shares of Arthur J. Gallagher & Co. from $255.00 to $265.00 and gave the company an “underperform” rating in a research report on Friday, July 26th. Jefferies Financial Group boosted their price objective on shares of Arthur J. Gallagher & Co. from $264.00 to $267.00 in a research report on Friday, July 26th. Barclays assumed coverage on Arthur J. Gallagher & Co. in a research report on Wednesday, September 4th. They set an “equal weight” rating and a $300.00 target price on the stock. BMO Capital Markets upped their price target on Arthur J. Gallagher & Co. from $275.00 to $295.00 and gave the stock an “outperform” rating in a research report on Friday, July 26th. Finally, Piper Sandler lifted their price objective on Arthur J. Gallagher & Co. from $252.00 to $254.00 and gave the company a “neutral” rating in a research report on Friday, July 26th. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, Arthur J. Gallagher & Co. has an average rating of “Hold” and a consensus price target of $277.56.

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.