Arthur J. Gallagher & Co. (NYSE:AJG) Shares Purchased by Modera Wealth Management LLC

Modera Wealth Management LLC grew its position in shares of Arthur J. Gallagher & Co. (NYSE:AJG) by 16.5% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,487 shares of the financial services provider’s stock after acquiring an additional 211 shares during the quarter. Modera Wealth Management LLC’s holdings in Arthur J. Gallagher & Co. were worth $418,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in AJG. Sumitomo Mitsui Trust Holdings Inc. increased its stake in Arthur J. Gallagher & Co. by 1.1% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 519,334 shares of the financial services provider’s stock worth $129,854,000 after acquiring an additional 5,553 shares during the last quarter. State of Alaska Department of Revenue grew its stake in shares of Arthur J. Gallagher & Co. by 0.5% in the first quarter. State of Alaska Department of Revenue now owns 45,397 shares of the financial services provider’s stock valued at $11,350,000 after buying an additional 210 shares in the last quarter. Norden Group LLC acquired a new stake in shares of Arthur J. Gallagher & Co. in the first quarter valued at about $3,841,000. First Trust Direct Indexing L.P. grew its stake in shares of Arthur J. Gallagher & Co. by 12.8% in the first quarter. First Trust Direct Indexing L.P. now owns 4,849 shares of the financial services provider’s stock valued at $1,212,000 after buying an additional 550 shares in the last quarter. Finally, New Century Financial Group LLC boosted its holdings in Arthur J. Gallagher & Co. by 40.3% in the first quarter. New Century Financial Group LLC now owns 1,685 shares of the financial services provider’s stock valued at $421,000 after purchasing an additional 484 shares during the last quarter. 85.53% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts recently commented on the company. Bank of America increased their price target on Arthur J. Gallagher & Co. from $271.00 to $293.00 and gave the company an “underperform” rating in a report on Thursday, October 10th. TD Cowen increased their price target on Arthur J. Gallagher & Co. from $273.00 to $288.00 and gave the company a “hold” rating in a report on Tuesday, August 13th. Piper Sandler increased their target price on Arthur J. Gallagher & Co. from $254.00 to $293.00 and gave the stock a “neutral” rating in a report on Friday, September 20th. Wells Fargo & Company increased their target price on Arthur J. Gallagher & Co. from $309.00 to $315.00 and gave the stock an “overweight” rating in a report on Thursday, October 10th. Finally, Jefferies Financial Group increased their target price on Arthur J. Gallagher & Co. from $269.00 to $274.00 and gave the stock a “hold” rating in a report on Wednesday, October 9th. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $287.00.

Arthur J. Gallagher & Co. Trading Down 0.3 %

Shares of NYSE:AJG opened at $285.12 on Wednesday. The company has a market cap of $62.30 billion, a PE ratio of 57.72, a P/E/G ratio of 2.53 and a beta of 0.72. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.67. The company’s 50-day moving average price is $289.15 and its 200 day moving average price is $270.23. Arthur J. Gallagher & Co. has a fifty-two week low of $218.63 and a fifty-two week high of $301.04.

Arthur J. Gallagher & Co. (NYSE:AJG) last released its earnings results on Thursday, October 24th. The financial services provider reported $2.26 EPS for the quarter, meeting the consensus estimate of $2.26. The firm had revenue of $2.77 billion for the quarter, compared to analysts’ expectations of $2.78 billion. Arthur J. Gallagher & Co. had a net margin of 10.41% and a return on equity of 19.25%. Arthur J. Gallagher & Co.’s quarterly revenue was up 12.8% on a year-over-year basis. During the same quarter last year, the company earned $2.00 EPS. Sell-side analysts anticipate that Arthur J. Gallagher & Co. will post 10.11 earnings per share for the current year.

Arthur J. Gallagher & Co. Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Friday, December 6th will be paid a $0.60 dividend. The ex-dividend date of this dividend is Friday, December 6th. This represents a $2.40 annualized dividend and a dividend yield of 0.84%. Arthur J. Gallagher & Co.’s dividend payout ratio is currently 48.58%.

Insider Transactions at Arthur J. Gallagher & Co.

In other news, CFO Douglas K. Howell sold 8,710 shares of Arthur J. Gallagher & Co. stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $285.07, for a total value of $2,482,959.70. Following the transaction, the chief financial officer now owns 75,963 shares of the company’s stock, valued at $21,654,772.41. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other news, CFO Douglas K. Howell sold 8,710 shares of Arthur J. Gallagher & Co. stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $285.07, for a total value of $2,482,959.70. Following the transaction, the chief financial officer now directly owns 75,963 shares of the company’s stock, valued at $21,654,772.41. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Douglas K. Howell sold 7,000 shares of Arthur J. Gallagher & Co. stock in a transaction that occurred on Thursday, September 19th. The stock was sold at an average price of $284.68, for a total transaction of $1,992,760.00. Following the completion of the transaction, the chief financial officer now directly owns 75,963 shares in the company, valued at approximately $21,625,146.84. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 37,810 shares of company stock valued at $10,823,140 in the last quarter. 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.