Cetera Investment Advisers Has $15.25 Million Holdings in Arthur J. Gallagher & Co. $AJG

Cetera Investment Advisers cut its holdings in shares of Arthur J. Gallagher & Co. (NYSE:AJG) by 22.1% during the 1st quarter, Holdings Channel reports. The firm owned 70,403 shares of the financial services provider’s stock after selling 19,980 shares during the period. Cetera Investment Advisers’ holdings in Arthur J. Gallagher & Co. were worth $15,248,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also made changes to their positions in the company. Kemnay Advisory Services Inc. acquired a new stake in Arthur J. Gallagher & Co. during the fourth quarter worth approximately $26,000. Cassaday & Co Wealth Management LLC bought a new position in Arthur J. Gallagher & Co. during the 1st quarter worth $29,000. MV Capital Management Inc. acquired a new position in Arthur J. Gallagher & Co. in the 4th quarter valued at $34,000. Rakuten Securities Inc. lifted its position in shares of Arthur J. Gallagher & Co. by 650.0% during the 2nd quarter. Rakuten Securities Inc. now owns 105 shares of the financial services provider’s stock valued at $34,000 after acquiring an additional 91 shares during the period. Finally, Avalon Trust Co acquired a new stake in shares of Arthur J. Gallagher & Co. during the 1st quarter worth $40,000. 85.53% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research analysts recently commented on AJG shares. Wells Fargo & Company raised their price target on Arthur J. Gallagher & Co. from $271.00 to $299.00 and gave the stock an “overweight” rating in a research report on Thursday, July 9th. Morgan Stanley increased their price objective on shares of Arthur J. Gallagher & Co. from $240.00 to $255.00 and gave the stock an “overweight” rating in a research note on Monday, July 6th. Piper Sandler raised shares of Arthur J. Gallagher & Co. from a “neutral” rating to an “overweight” rating and raised their target price for the company from $225.00 to $276.00 in a report on Wednesday, July 15th. Citigroup upgraded shares of Arthur J. Gallagher & Co. from a “neutral” rating to a “buy” rating and dropped their target price for the company from $280.00 to $250.00 in a research report on Wednesday, May 6th. Finally, Truist Financial cut their price target on shares of Arthur J. Gallagher & Co. from $235.00 to $225.00 and set a “hold” rating for the company in a report on Friday, May 1st. Thirteen research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $280.35.

Arthur J. Gallagher & Co. Stock Performance

Shares of Arthur J. Gallagher & Co. stock opened at $265.31 on Wednesday. The company’s 50 day moving average price is $228.49 and its two-hundred day moving average price is $224.93. The firm has a market capitalization of $68.16 billion, a P/E ratio of 42.93, a P/E/G ratio of 1.31 and a beta of 0.50. Arthur J. Gallagher & Co. has a fifty-two week low of $190.75 and a fifty-two week high of $313.55. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.06 and a quick ratio of 1.06.

Arthur J. Gallagher & Co. (NYSE:AJG) last announced its quarterly earnings results 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 company had revenue of $4.71 billion during the quarter, compared to the consensus estimate of $4.73 billion. During the same period in the prior year, the business earned $3.67 earnings per share. The company’s revenue for the quarter was up 29.0% compared to the same quarter last year. On average, equities analysts forecast that Arthur J. Gallagher & Co. will post 13.22 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Arthur J. Gallagher & Co. news, CAO Richard C. Cary sold 3,000 shares of the company’s stock in a transaction dated Tuesday, June 2nd. The stock was sold at an average price of $206.00, for a total value of $618,000.00. Following the completion of the transaction, the chief accounting officer owned 47,819 shares of the company’s stock, valued at $9,850,714. This represents a 5.90% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.40% of the stock is owned by corporate insiders.

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.