Opal Wealth Advisors LLC Purchases Shares of 453 Arthur J. Gallagher & Co. (NYSE:AJG)

Opal Wealth Advisors LLC purchased a new stake in shares of Arthur J. Gallagher & Co. (NYSE:AJG) during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 453 shares of the financial services provider’s stock, valued at approximately $156,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Jones Financial Companies Lllp boosted its stake in Arthur J. Gallagher & Co. by 337.7% during the fourth quarter. Jones Financial Companies Lllp now owns 3,243 shares of the financial services provider’s stock worth $921,000 after acquiring an additional 2,502 shares in the last quarter. Principal Financial Group Inc. boosted its stake in Arthur J. Gallagher & Co. by 126.2% during the fourth quarter. Principal Financial Group Inc. now owns 2,003,237 shares of the financial services provider’s stock worth $568,619,000 after acquiring an additional 1,117,441 shares in the last quarter. Proficio Capital Partners LLC boosted its stake in Arthur J. Gallagher & Co. by 19.7% during the fourth quarter. Proficio Capital Partners LLC now owns 948 shares of the financial services provider’s stock worth $269,000 after acquiring an additional 156 shares in the last quarter. Two Sigma Investments LP bought a new position in Arthur J. Gallagher & Co. during the fourth quarter worth $382,000. Finally, Seven Grand Managers LLC bought a new position in Arthur J. Gallagher & Co. during the fourth quarter worth $7,096,000. 85.53% of the stock is owned by institutional investors.

Arthur J. Gallagher & Co. Stock Performance

Shares of AJG stock opened at $316.38 on Friday. The firm has a 50-day moving average of $331.51 and a 200-day moving average of $317.22. The company has a market cap of $81.02 billion, a P/E ratio of 48.52 and a beta of 0.74. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.51 and a quick ratio of 1.51. 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) last announced its earnings results on Thursday, May 1st. The financial services provider reported $3.67 EPS for the quarter, beating the consensus estimate of $3.57 by $0.10. The company had revenue of $3.69 billion during the quarter, compared to the consensus estimate of $3.85 billion. Arthur J. Gallagher & Co. had a net margin of 12.70% and a return on equity of 16.47%. The firm’s revenue for the quarter was up 14.5% on a year-over-year basis. During the same quarter in the prior year, the company posted $3.45 earnings per share. Equities research analysts forecast that Arthur J. Gallagher & Co. will post 11.54 EPS for the current fiscal year.

Arthur J. Gallagher & Co. Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, June 20th. Investors of record on Friday, June 6th will be given a dividend of $0.65 per share. The ex-dividend date is Friday, June 6th. This represents a $2.60 annualized dividend and a yield of 0.82%. Arthur J. Gallagher & Co.’s payout ratio is currently 37.63%.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on AJG shares. Redburn Atlantic started coverage on shares of Arthur J. Gallagher & Co. in a research note on Tuesday, March 25th. They set a “neutral” rating and a $352.00 target price on the stock. Barclays raised their price objective on shares of Arthur J. Gallagher & Co. from $308.00 to $346.00 and gave the company an “equal weight” rating in a research note on Friday, April 11th. Keefe, Bruyette & Woods raised their price objective on shares of Arthur J. Gallagher & Co. from $315.00 to $326.00 and gave the company a “market perform” rating in a research note on Thursday, June 5th. Jefferies Financial Group dropped their price objective on shares of Arthur J. Gallagher & Co. from $266.00 to $265.00 and set a “hold” rating on the stock in a research note on Friday, April 11th. Finally, Wells Fargo & Company dropped their price objective on shares of Arthur J. Gallagher & Co. from $372.00 to $371.00 and set an “overweight” rating on the stock in a research note on Monday, June 9th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, Arthur J. Gallagher & Co. currently has a consensus rating of “Hold” and an average price target of $319.29.

Insider Activity at Arthur J. Gallagher & Co.

In related news, Director David S. Johnson sold 1,000 shares of the 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 completion of the transaction, the director now owns 45,323 shares in the company, valued at approximately $15,502,278.92. This represents a 2.16% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Scott R. Hudson sold 10,500 shares of the stock in a transaction dated Wednesday, May 21st. The shares were sold at an average price of $337.17, for a total transaction of $3,540,285.00. Following the transaction, the vice president now owns 91,175 shares of the company’s stock, valued at approximately $30,741,474.75. The trade was a 10.33% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 32,510 shares of company stock worth $11,033,341. 1.30% of the stock is owned by company insiders.

Arthur J. Gallagher & Co. Profile

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.