Kestra Advisory Services LLC Acquires 25,415 Shares of Arthur J. Gallagher & Co. $AJG

Key Points

• Kestra Advisory Services LLC boosted its stake in Arthur J. Gallagher & Co. by 159.8% in the first quarter, adding 25,415 shares to bring its total to 41,317 shares worth about $8.95 million.
• Insider activity was mixed, with CAO Richard C. Cary selling 3,000 shares at $206 each for a total of $618,000, reducing his position by 5.9%.
• Analysts remain broadly positive on AJG, with a consensus rating of Moderate Buy and an average price target of $276.53; the company recently reported earnings of $4.47 per share, slightly beating estimates.

Kestra Advisory Services LLC increased its holdings in shares of Arthur J. Gallagher & Co. (NYSE:AJG - Free Report) by 159.8% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 41,317 shares of the financial services provider's stock after buying an additional 25,415 shares during the quarter. Kestra Advisory Services LLC's holdings in Arthur J. Gallagher & Co. were worth $8,949,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. IFP Advisors Inc lifted its holdings in shares of Arthur J. Gallagher & Co. by 1.4% in the third quarter. IFP Advisors Inc now owns 3,064 shares of the financial services provider's stock worth $949,000 after acquiring an additional 41 shares during the last quarter. Ritholtz Wealth Management grew its holdings in shares of Arthur J. Gallagher & Co. by 0.4% during the 4th quarter. Ritholtz Wealth Management now owns 10,061 shares of the financial services provider's stock valued at $2,604,000 after purchasing an additional 45 shares during the last quarter. CYBER HORNET ETFs LLC increased its position in Arthur J. Gallagher & Co. by 7.8% during the 4th quarter. CYBER HORNET ETFs LLC now owns 634 shares of the financial services provider's stock worth $164,000 after purchasing an additional 46 shares in the last quarter. SC&H Financial Advisors Inc. lifted its stake in Arthur J. Gallagher & Co. by 5.8% in the 4th quarter. SC&H Financial Advisors Inc. now owns 862 shares of the financial services provider's stock valued at $223,000 after purchasing an additional 47 shares during the last quarter. Finally, Allen Capital Group LLC boosted its position in Arthur J. Gallagher & Co. by 2.5% in the fourth quarter. Allen Capital Group LLC now owns 1,895 shares of the financial services provider's stock valued at $490,000 after buying an additional 47 shares in the last quarter. 85.53% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Arthur J. Gallagher & Co. news, CAO Richard C. Cary sold 3,000 shares of the stock in a transaction that occurred on Tuesday, June 2nd. The shares were sold at an average price of $206.00, for a total transaction of $618,000.00. Following the completion of the sale, the chief accounting officer owned 47,819 shares of the company's stock, valued at approximately $9,850,714. This represents a 5.90% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.40% of the stock is owned by insiders.

Analysts Set New Price Targets

Several research analysts have recently issued reports on AJG shares. Weiss Ratings reiterated a "hold (c-)" rating on shares of Arthur J. Gallagher & Co. in a report on Monday, June 15th. Keefe, Bruyette & Woods raised their price objective on Arthur J. Gallagher & Co. from $242.00 to $261.00 and gave the company a "market perform" rating in a report on Wednesday, July 8th. Morgan Stanley upped their target price on Arthur J. Gallagher & Co. from $240.00 to $255.00 and gave the stock an "overweight" rating in a report on Monday, July 6th. Piper Sandler dropped their target price on Arthur J. Gallagher & Co. from $226.00 to $211.00 and set a "neutral" rating for the company in a research report on Friday, May 1st. Finally, BMO Capital Markets raised Arthur J. Gallagher & Co. from a "market perform" rating to an "outperform" rating and lifted their price target for the company from $275.00 to $278.00 in a research note on Tuesday, March 24th. Twelve equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. Based on data from MarketBeat.com, Arthur J. Gallagher & Co. presently has a consensus rating of "Moderate Buy" and a consensus target price of $276.53.

Arthur J. Gallagher & Co. Stock Performance

Shares of Arthur J. Gallagher & Co. stock opened at $260.95 on Tuesday. The stock has a market cap of $67.04 billion, a price-to-earnings ratio of 42.23, a P/E/G ratio of 1.31 and a beta of 0.50. Arthur J. Gallagher & Co. has a twelve month low of $190.75 and a twelve month high of $316.71. The company's fifty day moving average is $217.19 and its 200 day moving average is $225.65. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.51.

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

Arthur J. Gallagher & Co. Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 19th. Investors of record on Friday, June 5th were paid a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date of this dividend was Friday, June 5th. Arthur J. Gallagher & Co.'s payout ratio is currently 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.

Want to see what other hedge funds are holding AJG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Arthur J. Gallagher & Co. (NYSE:AJG - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.