Cresset Asset Management LLC Cuts Stock Holdings in Arthur J. Gallagher & Co. (NYSE:AJG)

Cresset Asset Management LLC lowered its stake in Arthur J. Gallagher & Co. (NYSE:AJG - Free Report) by 70.1% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,797 shares of the financial services provider's stock after selling 8,897 shares during the quarter. Cresset Asset Management LLC's holdings in Arthur J. Gallagher & Co. were worth $1,078,000 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. Wealth Enhancement Advisory Services LLC raised its position in Arthur J. Gallagher & Co. by 21.2% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 67,146 shares of the financial services provider's stock worth $18,893,000 after acquiring an additional 11,752 shares during the period. Running Oak Capital LLC grew its stake in shares of Arthur J. Gallagher & Co. by 8.9% in the 4th quarter. Running Oak Capital LLC now owns 48,722 shares of the financial services provider's stock worth $13,830,000 after buying an additional 3,983 shares in the last quarter. Campbell Newman Asset Management Inc. grew its stake in shares of Arthur J. Gallagher & Co. by 13.9% in the 4th quarter. Campbell Newman Asset Management Inc. now owns 141,163 shares of the financial services provider's stock worth $40,069,000 after buying an additional 17,196 shares in the last quarter. Red Spruce Capital LLC purchased a new position in shares of Arthur J. Gallagher & Co. in the 4th quarter worth $298,000. Finally, Hartford Investment Management Co. boosted its stake in shares of Arthur J. Gallagher & Co. by 11.1% during the 4th quarter. Hartford Investment Management Co. now owns 15,434 shares of the financial services provider's stock worth $4,381,000 after purchasing an additional 1,537 shares during the period. Hedge funds and other institutional investors own 85.53% of the company's stock.

Arthur J. Gallagher & Co. Stock Performance

NYSE:AJG opened at $338.67 on Monday. The company's 50-day moving average price is $330.37 and its 200-day moving average price is $310.29. The company has a current ratio of 1.51, a quick ratio of 1.51 and a debt-to-equity ratio of 0.63. The company has a market cap of $86.73 billion, a P/E ratio of 51.94 and a beta of 0.78. Arthur J. Gallagher & Co. has a twelve month low of $244.60 and a twelve month high of $350.70.

Arthur J. Gallagher & Co. (NYSE:AJG - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The financial services provider reported $3.67 earnings per share for the quarter, topping the consensus estimate of $3.57 by $0.10. Arthur J. Gallagher & Co. had a net margin of 12.70% and a return on equity of 16.47%. The firm had revenue of $3.69 billion for the quarter, compared to the consensus estimate of $3.85 billion. During the same period last year, the firm posted $3.45 earnings per share. The company's revenue for the quarter was up 14.5% on a year-over-year basis. On average, sell-side analysts forecast that Arthur J. Gallagher & Co. will post 11.54 earnings per share for the current fiscal year.

Arthur J. Gallagher & Co. Dividend Announcement

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 given a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a dividend yield of 0.77%. The ex-dividend date is Friday, June 6th. Arthur J. Gallagher & Co.'s dividend payout ratio is presently 37.63%.

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

In related news, VP Scott R. Hudson sold 7,510 shares of Arthur J. Gallagher & Co. stock in a transaction that occurred on 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 completion of the transaction, the vice president now owns 90,020 shares in the company, valued at approximately $30,029,771.80. The trade was a 7.70% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director David S. Johnson sold 325 shares of Arthur J. Gallagher & Co. stock in a transaction that occurred on Wednesday, February 12th. The shares were sold at an average price of $322.06, for a total transaction of $104,669.50. Following the completion of the transaction, the director now owns 44,783 shares of the company's stock, valued at $14,422,812.98. This trade represents a 0.72% decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.60% of the company's stock.

Analyst Ratings Changes

A number of equities analysts recently commented on the stock. 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. Redburn Atlantic started coverage on shares of Arthur J. Gallagher & Co. in a research report on Tuesday, March 25th. They issued a "neutral" rating and a $352.00 price objective for the company. Keefe, Bruyette & Woods boosted their price objective on shares of Arthur J. Gallagher & Co. from $307.00 to $315.00 and gave the company a "market perform" rating in a research report on Friday, May 2nd. Barclays boosted their price objective on shares of Arthur J. Gallagher & Co. from $308.00 to $346.00 and gave the company an "equal weight" rating in a research report on Friday, April 11th. Finally, Royal Bank of Canada boosted their price objective on shares of Arthur J. Gallagher & Co. from $320.00 to $340.00 and gave the company an "outperform" rating in a research report on Friday, January 31st. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, Arthur J. Gallagher & Co. presently has an average rating of "Hold" and a consensus price target of $315.33.

Arthur J. Gallagher & Co. Company Profile

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.

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