Empirical Financial Services LLC d.b.a. Empirical Wealth Management Buys New Position in Arthur J. Gallagher & Co. (NYSE:AJG)

Key Points

• Empirical Financial Services LLC acquired 991 shares of Arthur J. Gallagher & Co. worth approximately $342,000 during the 1st quarter.
• Arthur J. Gallagher reported a net margin of 14.54% and revenue growth of 16% year-over-year, although it missed earnings expectations for the quarter.
• The company recently announced a quarterly dividend of $0.65 per share, with a total annualized dividend of $2.60, reflecting a yield of 0.9%.

Empirical Financial Services LLC d.b.a. Empirical Wealth Management acquired a new stake in Arthur J. Gallagher & Co. (NYSE:AJG - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 991 shares of the financial services provider's stock, valued at approximately $342,000.

A number of other hedge funds and other institutional investors have also modified their holdings of AJG. CWA Asset Management Group LLC boosted its holdings in shares of Arthur J. Gallagher & Co. by 22.5% during the first quarter. CWA Asset Management Group LLC now owns 1,125 shares of the financial services provider's stock worth $388,000 after acquiring an additional 207 shares during the period. Two Sigma Investments LP bought a new position in shares of Arthur J. Gallagher & Co. in the fourth quarter worth $382,000. Golden State Wealth Management LLC grew its stake in Arthur J. Gallagher & Co. by 2,750.0% during the first quarter. Golden State Wealth Management LLC now owns 114 shares of the financial services provider's stock worth $39,000 after buying an additional 110 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its position in shares of Arthur J. Gallagher & Co. by 0.7% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 11,280 shares of the financial services provider's stock worth $3,879,000 after acquiring an additional 82 shares in the last quarter. Finally, Seven Grand Managers LLC acquired a new position in Arthur J. Gallagher & Co. during the fourth quarter valued at approximately $7,096,000. Institutional investors and hedge funds own 85.53% of the company's stock.

Arthur J. Gallagher & Co. Trading Up 0.5%

AJG stock traded up $1.47 during midday trading on Tuesday, hitting $286.08. The stock had a trading volume of 1,681,716 shares, compared to its average volume of 1,484,616. The company has a current ratio of 1.36, a quick ratio of 1.44 and a debt-to-equity ratio of 0.52. The firm has a market cap of $73.35 billion, a P/E ratio of 40.64 and a beta of 0.68. The business has a fifty day moving average price of $316.92 and a two-hundred day moving average price of $322.97. Arthur J. Gallagher & Co. has a 1-year low of $274.25 and a 1-year high of $351.23.

Arthur J. Gallagher & Co. (NYSE:AJG - Get Free Report) last announced its earnings results on Thursday, July 31st. The financial services provider reported $2.33 EPS for the quarter, missing the consensus estimate of $2.36 by ($0.03). The business had revenue of $3.18 billion for the quarter, compared to the consensus estimate of $3.20 billion. Arthur J. Gallagher & Co. had a net margin of 14.54% and a return on equity of 13.17%. The firm's revenue for the quarter was up 16.0% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.29 EPS. On average, sell-side 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 disclosed a quarterly dividend, which will be paid on Friday, September 19th. Stockholders of record on Friday, September 5th 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 0.9%. The ex-dividend date of this dividend is Friday, September 5th. Arthur J. Gallagher & Co.'s dividend payout ratio is 36.93%.

Insider Transactions at Arthur J. Gallagher & Co.

In related news, VP Scott R. Hudson sold 10,500 shares of Arthur J. Gallagher & Co. stock in a transaction on Wednesday, May 21st. The shares were sold at an average price of $337.17, for a total value of $3,540,285.00. Following the completion of the sale, the vice president owned 91,175 shares of the company's stock, valued at approximately $30,741,474.75. This trade represents a 10.33% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director David S. Johnson sold 1,000 shares of the company's stock in a transaction on Friday, May 16th. The stock was sold at an average price of $342.04, for a total transaction of $342,040.00. Following the transaction, the director owned 45,323 shares in the company, valued at approximately $15,502,278.92. The trade was a 2.16% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 25,000 shares of company stock valued at $8,528,080 in the last 90 days. 1.30% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on AJG. Erste Group Bank reiterated a "hold" rating on shares of Arthur J. Gallagher & Co. in a research report on Wednesday, July 23rd. UBS Group dropped their price objective on shares of Arthur J. Gallagher & Co. from $345.00 to $322.00 and set a "neutral" rating for the company in a research note on Monday. Piper Sandler boosted their target price on shares of Arthur J. Gallagher & Co. from $352.00 to $372.00 and gave the stock an "overweight" rating in a research note on Friday. Jefferies Financial Group dropped their price target on Arthur J. Gallagher & Co. from $266.00 to $265.00 and set a "hold" rating for the company in a research note on Friday, April 11th. Finally, Wells Fargo & Company upped their target price on Arthur J. Gallagher & Co. from $371.00 to $373.00 and gave the stock an "overweight" rating in a report on Friday. One analyst has rated the stock with a sell rating, eight have given a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $329.15.

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.