Wealthfront Advisers LLC Has $6.31 Million Stock Position in Arthur J. Gallagher & Co. $AJG

Wealthfront Advisers LLC lowered its position in Arthur J. Gallagher & Co. (NYSE:AJG) by 10.0% during the first quarter, HoldingsChannel.com reports. The firm owned 29,119 shares of the financial services provider’s stock after selling 3,248 shares during the quarter. Wealthfront Advisers LLC’s holdings in Arthur J. Gallagher & Co. were worth $6,307,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. IFP Advisors Inc grew its stake in shares of Arthur J. Gallagher & Co. by 1.4% in the 3rd quarter. IFP Advisors Inc now owns 3,064 shares of the financial services provider’s stock valued at $949,000 after buying an additional 41 shares in the last quarter. Ritholtz Wealth Management raised its position in Arthur J. Gallagher & Co. by 0.4% during the fourth quarter. Ritholtz Wealth Management now owns 10,061 shares of the financial services provider’s stock valued at $2,604,000 after acquiring an additional 45 shares in the last quarter. CYBER HORNET ETFs LLC lifted its stake in Arthur J. Gallagher & Co. by 7.8% in the fourth quarter. CYBER HORNET ETFs LLC now owns 634 shares of the financial services provider’s stock valued at $164,000 after acquiring an additional 46 shares during the last quarter. SC&H Financial Advisors Inc. grew its position in Arthur J. Gallagher & Co. by 5.8% in the fourth quarter. SC&H Financial Advisors Inc. now owns 862 shares of the financial services provider’s stock worth $223,000 after acquiring an additional 47 shares in the last quarter. Finally, Allen Capital Group LLC increased its stake in shares of Arthur J. Gallagher & Co. by 2.5% during the 4th quarter. Allen Capital Group LLC now owns 1,895 shares of the financial services provider’s stock worth $490,000 after purchasing an additional 47 shares during the last quarter. 85.53% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, CAO Richard C. Cary sold 3,000 shares of the stock in a transaction that occurred on Tuesday, June 2nd. The stock was sold at an average price of $206.00, for a total transaction of $618,000.00. Following the completion of the sale, the chief accounting officer owned 47,819 shares in the company, 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 through this link. 1.40% of the stock is currently owned by insiders.

Arthur J. Gallagher & Co. Stock Performance

NYSE:AJG opened at $254.36 on Friday. Arthur J. Gallagher & Co. has a 1 year low of $190.75 and a 1 year high of $316.71. The firm’s fifty day simple moving average is $221.35 and its 200 day simple moving average is $225.67. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 0.51. The firm has a market capitalization of $65.35 billion, a PE ratio of 41.16, a PEG ratio of 1.31 and a beta of 0.50.

Arthur J. Gallagher & Co. (NYSE:AJG) last released its earnings results on Thursday, April 30th. The financial services provider reported $4.47 earnings per share for the quarter, topping analysts’ consensus estimates 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 analyst estimates of $4.73 billion. During the same quarter in the previous year, the business earned $3.67 EPS. The business’s revenue was up 29.0% on a year-over-year basis. On average, sell-side analysts anticipate that Arthur J. Gallagher & Co. will post 13.22 EPS for the current year.

Arthur J. Gallagher & Co. Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 19th. Investors of record on Friday, June 5th were given a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a dividend yield of 1.1%. The ex-dividend date of this dividend was Friday, June 5th. Arthur J. Gallagher & Co.’s payout ratio is currently 45.31%.

Analysts Set New Price Targets

AJG has been the topic of a number of recent research reports. Truist Financial cut their price target on shares of Arthur J. Gallagher & Co. from $235.00 to $225.00 and set a “hold” rating on the stock in a report on Friday, May 1st. Barclays raised their target price on Arthur J. Gallagher & Co. from $275.00 to $292.00 and gave the company an “overweight” rating in a report on Tuesday, July 7th. Piper Sandler raised Arthur J. Gallagher & Co. from a “neutral” rating to an “overweight” rating and boosted their price target for the stock from $225.00 to $276.00 in a research report on Wednesday. Citigroup raised Arthur J. Gallagher & Co. from a “neutral” rating to a “buy” rating and lowered their price objective for the company from $280.00 to $250.00 in a report on Wednesday, May 6th. Finally, Keefe, Bruyette & Woods raised their price objective on Arthur J. Gallagher & Co. from $242.00 to $261.00 and gave the company a “market perform” rating in a research note on Wednesday, July 8th. Thirteen equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $280.35.

Arthur J. Gallagher & Co. 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.