Prosperity Consulting Group LLC Has $990,000 Stock Position in Arthur J. Gallagher & Co. $AJG

Key Points

• Prosperity Consulting Group LLC cut its stake in Arthur J. Gallagher & Co. by 52% in the first quarter, leaving it with 4,570 shares valued at about $990,000.
• Insider selling was also reported, with CAO Richard C. Cary selling 3,000 shares for $618,000 on June 2; insiders currently own about 1.40% of the company.
• Arthur J. Gallagher beat quarterly EPS estimates, posting $4.47 per share versus the expected $4.43, while revenue rose 29% year over year; analysts maintain a Moderate Buy consensus with an average target price of $280.35.

Prosperity Consulting Group LLC cut its position in Arthur J. Gallagher & Co. (NYSE:AJG - Free Report) by 52.0% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,570 shares of the financial services provider's stock after selling 4,957 shares during the period. Prosperity Consulting Group LLC's holdings in Arthur J. Gallagher & Co. were worth $990,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of AJG. Kemnay Advisory Services Inc. acquired a new stake in shares of Arthur J. Gallagher & Co. in the fourth quarter valued at $26,000. MV Capital Management Inc. acquired a new stake in Arthur J. Gallagher & Co. in the 4th quarter valued at about $34,000. Rakuten Securities Inc. raised its stake in shares of Arthur J. Gallagher & Co. by 650.0% in the second quarter. Rakuten Securities Inc. now owns 105 shares of the financial services provider's stock worth $34,000 after acquiring an additional 91 shares during the last quarter. Prosperity Bancshares Inc acquired a new position in shares of Arthur J. Gallagher & Co. during the fourth quarter worth approximately $42,000. Finally, Thurston Springer Miller Herd & Titak Inc. grew its stake in shares of Arthur J. Gallagher & Co. by 668.2% during the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 169 shares of the financial services provider's stock valued at $44,000 after purchasing an additional 147 shares during the last quarter. 85.53% of the stock is currently owned by institutional investors.

Insider Activity at Arthur J. Gallagher & Co.

In related news, CAO Richard C. Cary sold 3,000 shares of the firm's stock in a transaction on Tuesday, June 2nd. The stock was sold at an average price of $206.00, for a total value of $618,000.00. Following the transaction, the chief accounting officer owned 47,819 shares in the company, valued at approximately $9,850,714. This trade represents a 5.90% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.40% of the company's stock.

Arthur J. Gallagher & Co. Stock Performance

Shares of AJG stock opened at $254.36 on Friday. Arthur J. Gallagher & Co. has a 52 week low of $190.75 and a 52 week high of $316.71. The company has a market capitalization of $65.35 billion, a price-to-earnings ratio of 41.16, a PEG ratio of 1.32 and a beta of 0.50. The company has a 50-day simple moving average of $221.35 and a 200 day simple moving average of $225.67. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.06 and a current ratio of 1.06.

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, topping the consensus estimate 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 firm had revenue of $4.71 billion during the quarter, compared to the consensus estimate of $4.73 billion. During the same period last year, the business posted $3.67 earnings per share. The business's revenue for the quarter was up 29.0% compared to the same quarter last year. On average, sell-side analysts predict that Arthur J. Gallagher & Co. will post 13.22 earnings per share 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. Shareholders of record on Friday, June 5th were paid a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date was Friday, June 5th. Arthur J. Gallagher & Co.'s dividend payout ratio (DPR) is 45.31%.

Analyst Ratings Changes

Several research analysts recently weighed in on AJG shares. Truist Financial dropped their price objective on shares of Arthur J. Gallagher & Co. from $235.00 to $225.00 and set a "hold" rating for the company in a research report on Friday, May 1st. Weiss Ratings raised Arthur J. Gallagher & Co. from a "hold (c-)" rating to a "hold (c)" rating in a research note on Monday. Royal Bank Of Canada boosted their target price on Arthur J. Gallagher & Co. from $260.00 to $300.00 and gave the stock an "outperform" rating in a research report on Monday, July 13th. Citigroup upgraded Arthur J. Gallagher & Co. from a "neutral" rating to a "buy" rating and decreased their price target for the company from $280.00 to $250.00 in a report on Wednesday, May 6th. Finally, UBS Group lifted their price objective on Arthur J. Gallagher & Co. from $250.00 to $291.00 and gave the stock a "buy" rating in a research report on Wednesday, July 8th. Thirteen analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $280.35.

Arthur J. Gallagher & Co. Company Profile

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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