Legacy Capital Group California Inc. acquired a new stake in Arthur J. Gallagher & Co. (NYSE:AJG - Free Report) during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 1,072 shares of the financial services provider's stock, valued at approximately $370,000.
A number of other hedge funds also recently modified their holdings of the stock. Natural Investments LLC bought a new stake in shares of Arthur J. Gallagher & Co. during the first quarter worth approximately $242,000. Wealthspire Advisors LLC increased its position in Arthur J. Gallagher & Co. by 79.9% during the first quarter. Wealthspire Advisors LLC now owns 7,574 shares of the financial services provider's stock worth $2,615,000 after acquiring an additional 3,365 shares during the period. iA Global Asset Management Inc. acquired a new stake in Arthur J. Gallagher & Co. in the 1st quarter worth about $9,936,000. Atria Wealth Solutions Inc. grew its position in shares of Arthur J. Gallagher & Co. by 2.0% during the 1st quarter. Atria Wealth Solutions Inc. now owns 9,363 shares of the financial services provider's stock worth $3,233,000 after purchasing an additional 188 shares in the last quarter. Finally, New Age Alpha Advisors LLC increased its holdings in shares of Arthur J. Gallagher & Co. by 15,991.7% during the first quarter. New Age Alpha Advisors LLC now owns 17,540 shares of the financial services provider's stock worth $6,056,000 after purchasing an additional 17,431 shares during the period. Institutional investors and hedge funds own 85.53% of the company's stock.
Insider Buying and Selling
In related news, insider Susan E. Pietrucha sold 13,500 shares of the stock in a transaction on Monday, May 19th. The stock was sold at an average price of $344.13, for a total value of $4,645,755.00. Following the completion of the sale, the insider directly owned 11,941 shares in the company, valued at $4,109,256.33. This represents a 53.06% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director David S. Johnson sold 1,000 shares of Arthur J. Gallagher & Co. stock in a transaction dated 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 directly owned 45,323 shares in the company, valued at $15,502,278.92. The trade was a 2.16% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 25,000 shares of company stock worth $8,528,080 in the last ninety days. Company insiders own 1.60% of the company's stock.
Arthur J. Gallagher & Co. Stock Performance
NYSE AJG opened at $286.47 on Thursday. The firm's fifty day moving average price is $315.79 and its two-hundred day moving average price is $322.72. The stock has a market cap of $73.45 billion, a PE ratio of 40.69 and a beta of 0.68. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.44 and a current ratio of 1.36. Arthur J. Gallagher & Co. has a fifty-two week low of $274.25 and a fifty-two week high of $351.23.
Arthur J. Gallagher & Co. (NYSE:AJG - Get Free Report) last issued its quarterly earnings data on Thursday, July 31st. The financial services provider reported $2.33 earnings per share for the quarter, missing analysts' consensus estimates of $2.36 by ($0.03). The firm had revenue of $3.18 billion for the quarter, compared to the consensus estimate of $3.20 billion. Arthur J. Gallagher & Co. had a return on equity of 13.17% and a net margin of 14.54%. The company's revenue was up 16.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.29 EPS. On average, equities analysts expect that Arthur J. Gallagher & Co. will post 11.54 EPS for the current fiscal year.
Arthur J. Gallagher & Co. Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 19th. Investors of record on Friday, September 5th will be given a dividend of $0.65 per share. The ex-dividend date is Friday, September 5th. This represents a $2.60 annualized dividend and a yield of 0.9%. Arthur J. Gallagher & Co.'s dividend payout ratio (DPR) is currently 36.93%.
Wall Street Analysts Forecast Growth
A number of equities analysts have commented on the company. Keefe, Bruyette & Woods raised their price objective on Arthur J. Gallagher & Co. from $326.00 to $330.00 and gave the stock a "market perform" rating in a research note on Wednesday, July 9th. UBS Group decreased their price target on Arthur J. Gallagher & Co. from $345.00 to $322.00 and set a "neutral" rating on the stock in a research report on Monday. Jefferies Financial Group cut their price objective on shares of Arthur J. Gallagher & Co. from $266.00 to $265.00 and set a "hold" rating for the company in a research report on Friday, April 11th. Wells Fargo & Company boosted their target price on shares of Arthur J. Gallagher & Co. from $371.00 to $373.00 and gave the company an "overweight" rating in a research report on Friday, August 1st. Finally, Piper Sandler increased their price target on shares of Arthur J. Gallagher & Co. from $352.00 to $372.00 and gave the stock an "overweight" rating in a research report on Friday, August 1st. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $329.15.
Read Our Latest Research Report on AJG
About Arthur J. Gallagher & Co.
(
Free Report)
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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