Premier Path Wealth Partners LLC Purchases New Position in Arthur J. Gallagher & Co. (NYSE:AJG)

Premier Path Wealth Partners LLC acquired a new position in Arthur J. Gallagher & Co. (NYSE:AJG - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 998 shares of the financial services provider's stock, valued at approximately $344,000.

Other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. raised its holdings in Arthur J. Gallagher & Co. by 14.9% during the 4th quarter. Vanguard Group Inc. now owns 29,672,134 shares of the financial services provider's stock valued at $8,422,435,000 after buying an additional 3,851,661 shares during the last quarter. Capital International Investors increased its holdings in Arthur J. Gallagher & Co. by 3.1% during the 4th quarter. Capital International Investors now owns 10,067,647 shares of the financial services provider's stock valued at $2,857,737,000 after purchasing an additional 305,876 shares during the period. Capital World Investors raised its position in Arthur J. Gallagher & Co. by 30.4% during the 4th quarter. Capital World Investors now owns 8,199,413 shares of the financial services provider's stock valued at $2,327,403,000 after purchasing an additional 1,910,471 shares during the last quarter. Geode Capital Management LLC grew its position in shares of Arthur J. Gallagher & Co. by 14.3% in the 4th quarter. Geode Capital Management LLC now owns 6,277,993 shares of the financial services provider's stock worth $1,779,248,000 after buying an additional 787,265 shares during the last quarter. Finally, Norges Bank purchased a new position in shares of Arthur J. Gallagher & Co. during the fourth quarter valued at approximately $1,421,591,000. 85.53% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, Director David S. Johnson sold 1,000 shares of the company's stock in a transaction dated Friday, May 16th. The shares were sold at an average price of $342.04, for a total transaction of $342,040.00. Following the transaction, the director now directly owns 45,323 shares in the company, valued at approximately $15,502,278.92. This represents a 2.16% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Scott R. Hudson sold 10,500 shares of the business's stock in a transaction that occurred 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 transaction, the vice president now owns 91,175 shares of the company's stock, valued at $30,741,474.75. This trade represents a 10.33% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 25,000 shares of company stock worth $8,528,080. 1.30% of the stock is owned by corporate insiders.

Arthur J. Gallagher & Co. Stock Performance

NYSE:AJG traded up $4.15 during mid-day trading on Monday, hitting $324.31. 1,311,677 shares of the company traded hands, compared to its average volume of 1,350,827. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 0.56. The stock's fifty day moving average price is $330.89 and its 200-day moving average price is $317.56. The firm has a market cap of $83.06 billion, a price-to-earnings ratio of 46.93 and a beta of 0.74. Arthur J. Gallagher & Co. has a one year low of $251.42 and a one year high of $351.23.

Arthur J. Gallagher & Co. (NYSE:AJG - Get Free Report) last released its earnings results on Thursday, May 1st. The financial services provider reported $3.67 EPS for the quarter, topping analysts' consensus estimates of $3.57 by $0.10. The company had revenue of $3.69 billion for the quarter, compared to analysts' expectations of $3.85 billion. Arthur J. Gallagher & Co. had a net margin of 14.39% and a return on equity of 14.83%. The firm's revenue was up 14.5% compared to the same quarter last year. During the same quarter last year, the business earned $3.45 EPS. Research analysts anticipate that Arthur J. Gallagher & Co. will post 11.54 earnings per share for the current fiscal year.

Arthur J. Gallagher & Co. Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 20th. Stockholders of record on Friday, June 6th were given a $0.65 dividend. The ex-dividend date was Friday, June 6th. This represents a $2.60 annualized dividend and a dividend yield of 0.80%. Arthur J. Gallagher & Co.'s payout ratio is 37.63%.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on AJG shares. Redburn Atlantic began coverage on shares of Arthur J. Gallagher & Co. in a research report on Tuesday, March 25th. They set a "neutral" rating and a $352.00 price target on the stock. Keefe, Bruyette & Woods upped their price target on shares of Arthur J. Gallagher & Co. from $315.00 to $326.00 and gave the stock a "market perform" rating in a research note on Thursday, June 5th. Jefferies Financial Group reduced 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 note on Friday, April 11th. Barclays increased their price target on shares of Arthur J. Gallagher & Co. from $308.00 to $346.00 and gave the company an "equal weight" rating in a report on Friday, April 11th. Finally, Wells Fargo & Company decreased their price objective on shares of Arthur J. Gallagher & Co. from $372.00 to $371.00 and set an "overweight" rating for the company in a report on Monday, June 9th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and five have given a buy rating to the company. According to MarketBeat, Arthur J. Gallagher & Co. presently has an average rating of "Hold" and a consensus target price of $319.29.

About Arthur J. Gallagher & Co.

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.