Beacon Pointe Advisors LLC Grows Position in Arthur J. Gallagher & Co. (NYSE:AJG)

Beacon Pointe Advisors LLC lifted its stake in Arthur J. Gallagher & Co. (NYSE:AJG - Free Report) by 6,415.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 140,274 shares of the financial services provider's stock after purchasing an additional 138,121 shares during the quarter. Beacon Pointe Advisors LLC owned 0.06% of Arthur J. Gallagher & Co. worth $39,817,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also bought and sold shares of AJG. Valley National Advisers Inc. purchased a new position in Arthur J. Gallagher & Co. in the 4th quarter worth about $25,000. MRP Capital Investments LLC purchased a new position in Arthur J. Gallagher & Co. in the 4th quarter worth about $28,000. New Age Alpha Advisors LLC increased its position in shares of Arthur J. Gallagher & Co. by 81.7% during the 4th quarter. New Age Alpha Advisors LLC now owns 109 shares of the financial services provider's stock valued at $31,000 after purchasing an additional 49 shares during the last quarter. Johnson Financial Group Inc. lifted its stake in shares of Arthur J. Gallagher & Co. by 205.4% in the 4th quarter. Johnson Financial Group Inc. now owns 113 shares of the financial services provider's stock worth $34,000 after purchasing an additional 76 shares during the period. Finally, E Fund Management Hong Kong Co. Ltd. purchased a new position in shares of Arthur J. Gallagher & Co. in the fourth quarter worth approximately $35,000. Hedge funds and other institutional investors own 85.53% of the company's stock.

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

In other news, VP Scott R. Hudson sold 7,510 shares of the business's stock in a transaction dated Friday, March 21st. The shares were sold at an average price of $333.59, for a total value of $2,505,260.90. Following the sale, the vice president now directly owns 90,020 shares in the company, valued at $30,029,771.80. The trade was a 7.70 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Christopher E. Mead sold 2,900 shares of the business's stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $302.61, for a total transaction of $877,569.00. Following the completion of the sale, the vice president now owns 14,674 shares in the company, valued at approximately $4,440,499.14. This trade represents a 16.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 23,235 shares of company stock worth $7,478,224. Insiders own 1.60% of the company's stock.

Arthur J. Gallagher & Co. Price Performance

Shares of AJG stock traded down $2.92 on Thursday, hitting $317.77. 1,995,757 shares of the stock traded hands, compared to its average volume of 1,294,672. The firm has a market cap of $81.26 billion, a price-to-earnings ratio of 48.74 and a beta of 0.64. Arthur J. Gallagher & Co. has a 52 week low of $235.09 and a 52 week high of $350.70. The firm has a 50 day simple moving average of $330.32 and a two-hundred day simple moving average of $307.80. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.51 and a quick ratio of 1.51.

Arthur J. Gallagher & Co. (NYSE:AJG - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The financial services provider reported $3.67 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.58 by $0.09. Arthur J. Gallagher & Co. had a net margin of 12.70% and a return on equity of 16.47%. The business's revenue was up 14.5% on a year-over-year basis. During the same period in the prior year, the company posted $3.45 EPS. As a group, equities research analysts predict that Arthur J. Gallagher & Co. will post 11.54 earnings per share for the current fiscal year.

Arthur J. Gallagher & Co. Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 20th. Shareholders of record on Friday, June 6th will be issued a $0.65 dividend. The ex-dividend date of this dividend is Friday, June 6th. This represents a $2.60 dividend on an annualized basis and a yield of 0.82%. Arthur J. Gallagher & Co.'s dividend payout ratio is currently 39.88%.

Analyst Upgrades and Downgrades

AJG has been the topic of several recent research reports. TD Cowen upgraded shares of Arthur J. Gallagher & Co. from a "hold" rating to a "buy" rating and increased their price target for the stock from $295.00 to $377.00 in a research report on Friday, January 10th. Wells Fargo & Company lifted their price target on shares of Arthur J. Gallagher & Co. from $370.00 to $372.00 and gave the stock an "overweight" rating in a research note on Thursday, April 10th. Truist Financial lifted their price target on shares of Arthur J. Gallagher & Co. from $275.00 to $290.00 and gave the stock a "hold" rating in a research note on Friday, January 31st. Barclays lifted their price target on shares of Arthur J. Gallagher & Co. from $308.00 to $346.00 and gave the stock an "equal weight" rating in a research note on Friday, April 11th. Finally, Keefe, Bruyette & Woods lifted their price target on shares of Arthur J. Gallagher & Co. from $308.00 to $314.00 and gave the stock a "market perform" rating in a research note on Friday, March 21st. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and six have issued a buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $315.27.

About Arthur J. Gallagher & Co.

Arthur J. Gallagher & Co engages in the provision of insurance brokerage, reinsurance brokerage, consulting, and third-party claims settlement and administration services. It operates through the following segments: Brokerage, Risk Management, and Corporate. The Brokerage segment consists of retail and wholesale insurance brokerage operations.