B. Riley Wealth Advisors Inc. Sells 1,609 Shares of Arthur J. Gallagher & Co. (NYSE:AJG)

B. Riley Wealth Advisors Inc. cut its stake in Arthur J. Gallagher & Co. (NYSE:AJG - Free Report) by 14.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,466 shares of the financial services provider's stock after selling 1,609 shares during the period. B. Riley Wealth Advisors Inc.'s holdings in Arthur J. Gallagher & Co. were worth $2,687,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its stake in Arthur J. Gallagher & Co. by 14.9% in the fourth quarter. Vanguard Group Inc. now owns 29,672,134 shares of the financial services provider's stock valued at $8,422,435,000 after buying an additional 3,851,661 shares during the period. Capital International Investors raised its position in shares of Arthur J. Gallagher & Co. by 3.1% during the fourth quarter. Capital International Investors now owns 10,067,647 shares of the financial services provider's stock worth $2,857,737,000 after purchasing an additional 305,876 shares during the period. Capital World Investors raised its position in shares of Arthur J. Gallagher & Co. by 30.4% during the fourth quarter. Capital World Investors now owns 8,199,413 shares of the financial services provider's stock worth $2,327,403,000 after purchasing an additional 1,910,471 shares during the period. Geode Capital Management LLC raised its position in shares of Arthur J. Gallagher & Co. by 14.3% during the fourth quarter. Geode Capital Management LLC now owns 6,277,993 shares of the financial services provider's stock worth $1,779,248,000 after purchasing an additional 787,265 shares during the period. Finally, Norges Bank acquired a new position in shares of Arthur J. Gallagher & Co. during the fourth quarter worth approximately $1,421,591,000. 85.53% of the stock is currently owned by institutional investors.

Insider Transactions at Arthur J. Gallagher & Co.

In other news, VP Scott R. Hudson sold 10,500 shares of the stock in a transaction on Wednesday, May 21st. The stock was sold at an average price of $337.17, for a total transaction of $3,540,285.00. Following the completion of the transaction, the vice president now owns 91,175 shares in the company, valued at approximately $30,741,474.75. This represents a 10.33% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director David S. Johnson sold 1,000 shares of the stock in a transaction on Friday, May 16th. The stock was sold at an average price of $342.04, for a total value of $342,040.00. Following the transaction, the director now owns 45,323 shares of the company's stock, valued at $15,502,278.92. The trade was a 2.16% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 32,510 shares of company stock worth $11,033,341. 1.60% of the stock is owned by company insiders.

Arthur J. Gallagher & Co. Stock Performance

NYSE:AJG traded up $5.74 during trading on Friday, reaching $347.64. The company's stock had a trading volume of 2,545,224 shares, compared to its average volume of 1,329,515. The firm has a market cap of $89.03 billion, a price-to-earnings ratio of 53.32 and a beta of 0.78. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.51 and a current ratio of 1.51. The firm has a 50 day moving average of $332.85 and a 200-day moving average of $315.44. Arthur J. Gallagher & Co. has a 12 month low of $250.51 and a 12 month high of $350.70.

Arthur J. Gallagher & Co. (NYSE:AJG - Get Free Report) last announced its quarterly earnings data on Thursday, May 1st. The financial services provider reported $3.67 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.57 by $0.10. The firm had revenue of $3.69 billion during the quarter, compared to the consensus estimate of $3.85 billion. Arthur J. Gallagher & Co. had a return on equity of 16.47% and a net margin of 12.70%. The business's revenue for the quarter was up 14.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.45 EPS. Research analysts expect that Arthur J. Gallagher & Co. will post 11.54 EPS for the current fiscal year.

Arthur J. Gallagher & Co. Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 20th. Stockholders of record on Friday, June 6th will be paid a dividend of $0.65 per share. The ex-dividend date of this dividend is Friday, June 6th. This represents a $2.60 annualized dividend and a dividend yield of 0.75%. Arthur J. Gallagher & Co.'s payout ratio is 37.63%.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on AJG. Wells Fargo & Company upped their target price on Arthur J. Gallagher & Co. from $370.00 to $372.00 and gave the stock an "overweight" rating in a research report on Thursday, April 10th. Barclays upped their target price on Arthur J. Gallagher & Co. from $308.00 to $346.00 and gave the stock an "equal weight" rating in a research report on Friday, April 11th. Redburn Atlantic began coverage on Arthur J. Gallagher & Co. in a research report on Tuesday, March 25th. They set a "neutral" rating and a $352.00 target price on the stock. Jefferies Financial Group lowered their target price on Arthur J. Gallagher & Co. from $266.00 to $265.00 and set a "hold" rating on the stock in a research report on Friday, April 11th. Finally, Truist Financial upped their price target on Arthur J. Gallagher & Co. from $275.00 to $290.00 and gave the stock a "hold" rating in a report on Friday, January 31st. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $318.57.

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.