NewEdge Wealth LLC Has $1.03 Million Stock Holdings in Arthur J. Gallagher & Co. $AJG

Key Points

• NewEdge Wealth LLC cut its stake in Arthur J. Gallagher & Co. by 69.2% in the fourth quarter, selling 8,931 shares and leaving it with 3,980 shares worth about $1.03 million.
• Analysts remain broadly positive on AJG, with an average rating of “Moderate Buy” and a consensus price target of $268. Recent calls included target increases from Barclays and other firms adjusting their outlooks.
• The company reported better-than-expected quarterly earnings of $4.47 per share and raised its dividend to $0.70 per quarter, or $2.80 annually, for a yield of about 1.4%.

NewEdge Wealth LLC reduced its holdings in shares of Arthur J. Gallagher & Co. (NYSE:AJG - Free Report) by 69.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,980 shares of the financial services provider's stock after selling 8,931 shares during the quarter. NewEdge Wealth LLC's holdings in Arthur J. Gallagher & Co. were worth $1,030,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in AJG. Jump Financial LLC purchased a new stake in shares of Arthur J. Gallagher & Co. in the second quarter worth approximately $2,825,000. Qube Research & Technologies Ltd bought a new stake in Arthur J. Gallagher & Co. during the second quarter worth $3,429,000. Treasurer of the State of North Carolina raised its position in Arthur J. Gallagher & Co. by 5.3% in the 2nd quarter. Treasurer of the State of North Carolina now owns 118,467 shares of the financial services provider's stock valued at $37,924,000 after buying an additional 5,947 shares during the last quarter. Peapack Gladstone Financial Corp lifted its stake in Arthur J. Gallagher & Co. by 2,919.2% during the 2nd quarter. Peapack Gladstone Financial Corp now owns 19,987 shares of the financial services provider's stock valued at $6,398,000 after acquiring an additional 19,325 shares in the last quarter. Finally, Armistice Capital LLC purchased a new position in Arthur J. Gallagher & Co. during the 2nd quarter worth $412,000. Institutional investors and hedge funds own 85.53% of the company's stock.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. Morgan Stanley set a $265.00 target price on shares of Arthur J. Gallagher & Co. in a report on Thursday, May 7th. Barclays upped their price objective on shares of Arthur J. Gallagher & Co. from $262.00 to $275.00 and gave the stock an "overweight" rating in a research report on Wednesday, April 8th. Mizuho dropped their target price on shares of Arthur J. Gallagher & Co. from $260.00 to $259.00 and set an "outperform" rating on the stock in a research report on Monday, April 13th. Cantor Fitzgerald reaffirmed a "neutral" rating on shares of Arthur J. Gallagher & Co. in a report on Friday, January 30th. Finally, Keefe, Bruyette & Woods decreased their price target on Arthur J. Gallagher & Co. from $246.00 to $235.00 and set a "market perform" rating for the company in a research report on Friday, May 1st. Eleven research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. According to MarketBeat, Arthur J. Gallagher & Co. currently has an average rating of "Moderate Buy" and a consensus price target of $268.00.

Insider Buying and Selling at Arthur J. Gallagher & Co.

In related news, VP Scott R. Hudson sold 3,800 shares of the business's stock in a transaction dated Friday, March 6th. The stock was sold at an average price of $227.57, for a total value of $864,766.00. Following the sale, the vice president directly owned 85,920 shares in the company, valued at approximately $19,552,814.40. The trade was a 4.24% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP Christopher E. Mead sold 4,000 shares of the company's stock in a transaction dated Thursday, March 5th. The shares were sold at an average price of $227.12, for a total transaction of $908,480.00. Following the sale, the vice president directly owned 19,306 shares in the company, valued at approximately $4,384,778.72. This trade represents a 17.16% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 1.40% of the company's stock.

Arthur J. Gallagher & Co. Stock Performance

Shares of AJG stock opened at $197.40 on Friday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.06 and a current ratio of 1.06. The firm has a market cap of $50.71 billion, a price-to-earnings ratio of 31.94, a P/E/G ratio of 0.98 and a beta of 0.54. Arthur J. Gallagher & Co. has a 52 week low of $190.75 and a 52 week high of $351.23. The firm's 50-day simple moving average is $213.57 and its two-hundred day simple moving average is $234.79.

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

Arthur J. Gallagher & Co. Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 19th. Shareholders of record on Friday, June 5th will be given a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date of this dividend is Friday, June 5th. Arthur J. Gallagher & Co.'s dividend payout ratio (DPR) 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.

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