Balboa Wealth Partners Decreases Position in Arthur J. Gallagher & Co. (NYSE:AJG)

Balboa Wealth Partners decreased its position in shares of Arthur J. Gallagher & Co. (NYSE:AJG) by 11.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,026 shares of the financial services provider’s stock after selling 271 shares during the period. Balboa Wealth Partners’ holdings in Arthur J. Gallagher & Co. were worth $456,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Beaird Harris Wealth Management LLC increased its position in Arthur J. Gallagher & Co. by 175.6% during the third quarter. Beaird Harris Wealth Management LLC now owns 113 shares of the financial services provider’s stock worth $26,000 after buying an additional 72 shares during the period. Annis Gardner Whiting Capital Advisors LLC acquired a new position in shares of Arthur J. Gallagher & Co. in the third quarter valued at approximately $28,000. SJS Investment Consulting Inc. increased its holdings in shares of Arthur J. Gallagher & Co. by 460.9% in the fourth quarter. SJS Investment Consulting Inc. now owns 129 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 106 shares during the period. Ruedi Wealth Management Inc. acquired a new position in shares of Arthur J. Gallagher & Co. in the fourth quarter valued at approximately $33,000. Finally, Milestone Investment Advisors LLC acquired a new position in shares of Arthur J. Gallagher & Co. in the third quarter valued at approximately $45,000. Institutional investors and hedge funds own 85.53% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the company. Keefe, Bruyette & Woods dropped their target price on Arthur J. Gallagher & Co. from $246.00 to $240.00 and set an “underperform” rating on the stock in a report on Wednesday, April 10th. Argus boosted their target price on Arthur J. Gallagher & Co. from $264.00 to $270.00 and gave the company a “buy” rating in a report on Tuesday, May 14th. Piper Sandler dropped their price objective on Arthur J. Gallagher & Co. from $253.00 to $252.00 and set a “neutral” rating on the stock in a report on Monday, April 29th. Truist Financial reaffirmed a “hold” rating and set a $255.00 price objective (down previously from $280.00) on shares of Arthur J. Gallagher & Co. in a report on Wednesday, April 10th. Finally, Royal Bank of Canada upped their price objective on Arthur J. Gallagher & Co. from $270.00 to $282.00 and gave the stock an “outperform” rating in a report on Friday, March 22nd. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, Arthur J. Gallagher & Co. has a consensus rating of “Hold” and a consensus target price of $255.71.

Arthur J. Gallagher & Co. Price Performance

AJG traded down $3.85 during trading on Thursday, reaching $253.80. 184,655 shares of the stock were exchanged, compared to its average volume of 836,108. The business’s 50 day moving average price is $244.64 and its two-hundred day moving average price is $240.69. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.05 and a quick ratio of 1.05. The company has a market capitalization of $55.46 billion, a price-to-earnings ratio of 52.16, a P/E/G ratio of 2.41 and a beta of 0.69. Arthur J. Gallagher & Co. has a 1 year low of $198.52 and a 1 year high of $259.35.

Arthur J. Gallagher & Co. (NYSE:AJG) last issued its quarterly earnings data on Thursday, April 25th. The financial services provider reported $3.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.41 by $0.08. Arthur J. Gallagher & Co. had a return on equity of 18.94% and a net margin of 10.27%. The business had revenue of $3.22 billion for the quarter, compared to the consensus estimate of $3.18 billion. During the same period in the prior year, the business earned $3.03 earnings per share. The business’s revenue was up 20.4% on a year-over-year basis. As a group, equities research analysts anticipate that Arthur J. Gallagher & Co. will post 10.08 earnings per share for the current year.

Arthur J. Gallagher & Co. Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 21st. Stockholders of record on Friday, June 7th will be given a $0.60 dividend. The ex-dividend date is Friday, June 7th. This represents a $2.40 annualized dividend and a dividend yield of 0.95%. Arthur J. Gallagher & Co.’s dividend payout ratio is currently 48.58%.

Insider Activity

In other news, General Counsel Walter D. Bay sold 800 shares of the company’s stock in a transaction on Monday, May 20th. The stock was sold at an average price of $257.24, for a total value of $205,792.00. Following the sale, the general counsel now directly owns 44,691 shares in the company, valued at $11,496,312.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CFO Douglas K. Howell sold 16,000 shares of the company’s stock in a transaction on Friday, May 10th. The stock was sold at an average price of $248.41, for a total value of $3,974,560.00. Following the completion of the transaction, the chief financial officer now directly owns 80,952 shares in the company, valued at $20,109,286.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, General Counsel Walter D. Bay sold 800 shares of the company’s stock in a transaction on Monday, May 20th. The shares were sold at an average price of $257.24, for a total value of $205,792.00. Following the completion of the transaction, the general counsel now owns 44,691 shares of the company’s stock, valued at $11,496,312.84. The disclosure for this sale can be found here. Insiders have sold 50,219 shares of company stock worth $12,727,781 over the last three months. 1.60% of the stock is currently owned by corporate insiders.

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.