Arthur J. Gallagher & Co. (NYSE:AJG) Shares Acquired by Drive Wealth Management LLC

Drive Wealth Management LLC lifted its position in shares of Arthur J. Gallagher & Co. (NYSE:AJG) by 4.0% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,901 shares of the financial services provider’s stock after buying an additional 73 shares during the period. Drive Wealth Management LLC’s holdings in Arthur J. Gallagher & Co. were worth $475,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in AJG. Beaird Harris Wealth Management LLC boosted its position in Arthur J. Gallagher & Co. by 175.6% in the 3rd quarter. Beaird Harris Wealth Management LLC now owns 113 shares of the financial services provider’s stock valued at $26,000 after buying an additional 72 shares during the last quarter. Richardson Financial Services Inc. bought a new position in shares of Arthur J. Gallagher & Co. during the fourth quarter worth about $27,000. Annis Gardner Whiting Capital Advisors LLC bought a new position in shares of Arthur J. Gallagher & Co. during the third quarter worth about $28,000. SJS Investment Consulting Inc. raised its stake in Arthur J. Gallagher & Co. by 460.9% during the fourth quarter. SJS Investment Consulting Inc. now owns 129 shares of the financial services provider’s stock worth $29,000 after acquiring an additional 106 shares during the period. Finally, Transcendent Capital Group LLC acquired a new stake in Arthur J. Gallagher & Co. during the fourth quarter worth about $31,000. 85.53% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on AJG shares. Keefe, Bruyette & Woods dropped their price objective on shares of Arthur J. Gallagher & Co. from $246.00 to $240.00 and set an “underperform” rating on the stock in a research note on Wednesday, April 10th. Jefferies Financial Group lowered shares of Arthur J. Gallagher & Co. from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $279.00 to $233.00 in a research note on Tuesday, January 9th. TD Cowen raised their price target on shares of Arthur J. Gallagher & Co. from $249.00 to $273.00 and gave the company a “hold” rating in a research note on Tuesday, April 2nd. Royal Bank of Canada raised their price objective on shares of Arthur J. Gallagher & Co. from $270.00 to $282.00 and gave the company an “outperform” rating in a research note on Friday, March 22nd. Finally, Truist Financial reiterated a “hold” rating and set a $255.00 price objective (down previously from $280.00) on shares of Arthur J. Gallagher & Co. in a research note on Wednesday, April 10th. One analyst has rated the stock with a sell rating, six have given a hold rating and five have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $255.23.

Insiders Place Their Bets

In other Arthur J. Gallagher & Co. news, VP Joel D. Cavaness sold 1,207 shares of the stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $255.20, for a total value of $308,026.40. Following the completion of the sale, the vice president now owns 2,023 shares in the company, valued at approximately $516,269.60. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, VP Scott R. Hudson sold 15,000 shares of Arthur J. Gallagher & Co. stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $255.06, for a total value of $3,825,900.00. Following the transaction, the vice president now owns 96,709 shares in the company, valued at approximately $24,666,597.54. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Joel D. Cavaness sold 1,207 shares of Arthur J. Gallagher & Co. stock in a transaction on Monday, March 18th. The stock was sold at an average price of $255.20, for a total transaction of $308,026.40. Following the completion of the transaction, the vice president now owns 2,023 shares in the company, valued at approximately $516,269.60. The disclosure for this sale can be found here. Insiders sold a total of 29,016 shares of company stock worth $7,176,180 in the last quarter. 1.60% of the stock is currently owned by corporate insiders.

Arthur J. Gallagher & Co. Trading Down 1.2 %

Arthur J. Gallagher & Co. stock traded down $2.84 during midday trading on Friday, reaching $234.11. The stock had a trading volume of 1,404,187 shares, compared to its average volume of 756,403. The firm’s fifty day simple moving average is $244.23 and its two-hundred day simple moving average is $238.93. Arthur J. Gallagher & Co. has a twelve month low of $198.52 and a twelve month high of $256.10. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.03 and a quick ratio of 1.03. The firm has a market cap of $51.11 billion, a price-to-earnings ratio of 47.38, a PEG ratio of 2.23 and a beta of 0.68.

Arthur J. Gallagher & Co. (NYSE:AJG) last posted its quarterly earnings data on Thursday, January 25th. The financial services provider reported $1.85 EPS for the quarter, topping analysts’ consensus estimates of $1.83 by $0.02. Arthur J. Gallagher & Co. had a net margin of 10.27% and a return on equity of 19.27%. The firm had revenue of $2.39 billion during the quarter, compared to analyst estimates of $2.40 billion. During the same quarter last year, the business posted $1.54 EPS. Equities analysts anticipate that Arthur J. Gallagher & Co. will post 10.06 EPS for the current fiscal year.

Arthur J. Gallagher & Co. Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 21st. Shareholders of record on Friday, June 7th will be given a $0.60 dividend. The ex-dividend date of this dividend is Friday, June 7th. This represents a $2.40 dividend on an annualized basis and a yield of 1.03%. Arthur J. Gallagher & Co.’s payout ratio is 48.58%.

Arthur J. Gallagher & Co. Profile

Arthur J. Gallagher & Co, together with its subsidiaries, provides insurance and reinsurance brokerage, consulting, and third-party property/casualty claims settlement and administration services to entities and individuals worldwide. It operates in Brokerage and Risk Management segments. The Brokerage segment offers retail and wholesale insurance and reinsurance brokerage services; assists retail brokers and other non-affiliated brokers in the placement of specialized and hard-to-place insurance; and acts as a brokerage wholesaler, managing general agent, and managing general underwriter for distributing specialized insurance coverages to underwriting enterprises.