Keebeck Wealth Management Has $853,000 Holdings in Arthur J. Gallagher & Co. $AJG

Key Points

• Keebeck Wealth Management cut its stake in Arthur J. Gallagher & Co. by 74.5% in the first quarter, leaving it with 3,938 shares valued at about $853,000.
• Several other institutional investors increased or initiated positions, and 85.53% of AJG shares are now held by institutions, highlighting strong institutional interest despite Keebeck’s trim.
• Analysts remain positive on the stock: recent price targets were raised by firms including Mizuho, Barclays, and Wells Fargo, and the consensus rating is Moderate Buy with an average target price of $280.35.

Keebeck Wealth Management trimmed its holdings in Arthur J. Gallagher & Co. (NYSE:AJG - Free Report) by 74.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,938 shares of the financial services provider's stock after selling 11,530 shares during the period. Keebeck Wealth Management's holdings in Arthur J. Gallagher & Co. were worth $853,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also made changes to their positions in the company. Arrowstreet Capital Limited Partnership bought a new stake in shares of Arthur J. Gallagher & Co. during the 1st quarter valued at $6,319,000. Sei Investments Co. increased its position in shares of Arthur J. Gallagher & Co. by 36.1% in the first quarter. Sei Investments Co. now owns 289,267 shares of the financial services provider's stock worth $62,651,000 after purchasing an additional 76,723 shares during the period. Lido Advisors LLC raised its stake in Arthur J. Gallagher & Co. by 67.7% in the first quarter. Lido Advisors LLC now owns 14,348 shares of the financial services provider's stock valued at $3,108,000 after purchasing an additional 5,790 shares in the last quarter. Alpha Family Trust bought a new stake in Arthur J. Gallagher & Co. during the first quarter worth about $222,000. Finally, Bowie Capital Management LLC grew its stake in Arthur J. Gallagher & Co. by 91.3% during the first quarter. Bowie Capital Management LLC now owns 438,928 shares of the financial services provider's stock worth $95,063,000 after buying an additional 209,521 shares in the last quarter. 85.53% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently commented on AJG shares. Mizuho boosted their target price on shares of Arthur J. Gallagher & Co. from $261.00 to $287.00 and gave the company an "outperform" rating in a research report on Thursday, July 9th. Barclays lifted their price objective on shares of Arthur J. Gallagher & Co. from $275.00 to $292.00 and gave the company an "overweight" rating in a research note on Tuesday, July 7th. Citigroup upgraded shares of Arthur J. Gallagher & Co. from a "neutral" rating to a "buy" rating and lowered their price objective for the company from $280.00 to $250.00 in a research report on Wednesday, May 6th. Jefferies Financial Group raised Arthur J. Gallagher & Co. from a "hold" rating to a "buy" rating and raised their target price for the company from $235.00 to $265.00 in a report on Thursday, June 11th. Finally, Wells Fargo & Company lifted their price target on Arthur J. Gallagher & Co. from $271.00 to $299.00 and gave the company an "overweight" rating in a research note on Thursday, July 9th. Thirteen research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $280.35.

Insider Activity at Arthur J. Gallagher & Co.

In related news, CAO Richard C. Cary sold 3,000 shares of the business's stock in a transaction on Tuesday, June 2nd. The shares were sold at an average price of $206.00, for a total value of $618,000.00. Following the sale, the chief accounting officer owned 47,819 shares of the company's stock, valued at $9,850,714. The trade was a 5.90% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 1.40% of the company's stock.

Arthur J. Gallagher & Co. Stock Performance

NYSE:AJG opened at $247.57 on Friday. The stock's 50-day moving average is $226.33 and its 200-day moving average is $225.22. Arthur J. Gallagher & Co. has a 1-year low of $190.75 and a 1-year high of $315.48. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 0.51. The stock has a market cap of $63.60 billion, a P/E ratio of 40.06, a price-to-earnings-growth ratio of 1.25 and a beta of 0.50.

Arthur J. Gallagher & Co. (NYSE:AJG - Get Free Report) last issued its quarterly earnings data on Thursday, April 30th. The financial services provider reported $4.47 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $4.43 by $0.04. Arthur J. Gallagher & Co. had a net margin of 10.76% and a return on equity of 12.83%. The business had revenue of $4.71 billion during the quarter, compared to analyst estimates of $4.73 billion. During the same quarter last year, the business earned $3.67 EPS. The firm's quarterly revenue was up 29.0% on a year-over-year basis. Equities research analysts anticipate that Arthur J. Gallagher & Co. will post 13.22 earnings per share for the current year.

Arthur J. Gallagher & Co. Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, June 19th. Stockholders of record on Friday, June 5th were paid a dividend of $0.70 per share. The ex-dividend date of this dividend was Friday, June 5th. This represents a $2.80 annualized dividend and a dividend yield of 1.1%. Arthur J. Gallagher & Co.'s dividend payout ratio (DPR) is presently 45.31%.

About Arthur J. Gallagher & Co.

Arthur J. Gallagher & Co is a global insurance brokerage and risk management firm headquartered in Rolling Meadows, Illinois. Founded in 1927 by Arthur J. Gallagher, the company has grown from a regional broker into an international professional services organization that arranges insurance, provides consulting and designs risk-transfer solutions for commercial, industrial, public sector and individual clients.

The company's core activities include property and casualty insurance brokerage, employee benefits consulting and administration, and a range of risk management services.

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