Professional Advisory Services Inc. Has $24.90 Million Position in Arthur J. Gallagher & Co. $AJG

Professional Advisory Services Inc. lifted its holdings in Arthur J. Gallagher & Co. (NYSE:AJG) by 11.7% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 108,452 shares of the financial services provider’s stock after acquiring an additional 11,371 shares during the quarter. Arthur J. Gallagher & Co. comprises about 3.0% of Professional Advisory Services Inc.’s investment portfolio, making the stock its 18th largest position. Professional Advisory Services Inc.’s holdings in Arthur J. Gallagher & Co. were worth $24,897,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently bought and sold shares of the business. Ritholtz Wealth Management raised its position in shares of Arthur J. Gallagher & Co. by 0.4% during the 4th 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 during the last quarter. CYBER HORNET ETFs LLC increased its holdings 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 purchasing an additional 46 shares during the last quarter. Allen Capital Group LLC boosted its holdings in Arthur J. Gallagher & Co. by 2.5% during the fourth quarter. Allen Capital Group LLC now owns 1,895 shares of the financial services provider’s stock worth $490,000 after buying an additional 47 shares during the last quarter. Manhattan West Asset Management LLC grew its position in shares of Arthur J. Gallagher & Co. by 0.7% during the 4th quarter. Manhattan West Asset Management LLC now owns 6,870 shares of the financial services provider’s stock worth $1,778,000 after buying an additional 49 shares during the period. Finally, Pure Financial Advisors LLC increased its stake in shares of Arthur J. Gallagher & Co. by 6.4% in the 4th quarter. Pure Financial Advisors LLC now owns 809 shares of the financial services provider’s stock valued at $209,000 after acquiring an additional 49 shares during the last quarter. 85.53% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

AJG has been the subject of a number of analyst reports. Wolfe Research cut shares of Arthur J. Gallagher & Co. from an “outperform” rating to a “peer perform” rating in a report on Thursday, July 9th. Royal Bank Of Canada upped their price objective on shares of Arthur J. Gallagher & Co. from $300.00 to $310.00 and gave the company an “outperform” rating in a research report on Friday, July 31st. Keefe, Bruyette & Woods lifted their target price on Arthur J. Gallagher & Co. from $261.00 to $271.00 and gave the stock a “market perform” rating in a report on Friday, July 31st. Jefferies Financial Group raised Arthur J. Gallagher & Co. from a “hold” rating to a “buy” rating and boosted their target price for the company from $235.00 to $265.00 in a research note on Thursday, June 11th. Finally, Piper Sandler raised their price target on Arthur J. Gallagher & Co. from $276.00 to $287.00 and gave the stock an “overweight” rating in a research report on Friday, July 31st. Thirteen analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, Arthur J. Gallagher & Co. presently has a consensus rating of “Moderate Buy” and an average target price of $287.65.

Insider Activity at Arthur J. Gallagher & Co.

In other news, CAO Richard C. Cary sold 3,000 shares of the firm’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 in the company, valued at $9,850,714. This trade represents a 5.90% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.40% of the stock is currently owned by corporate insiders.

Arthur J. Gallagher & Co. Stock Performance

Shares of Arthur J. Gallagher & Co. stock opened at $247.59 on Friday. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.05 and a quick ratio of 1.06. The firm has a market cap of $63.46 billion, a price-to-earnings ratio of 41.06, a price-to-earnings-growth ratio of 1.30 and a beta of 0.50. Arthur J. Gallagher & Co. has a one year low of $190.75 and a one year high of $313.55. The stock’s 50-day moving average is $236.28 and its 200-day moving average is $224.75.

Arthur J. Gallagher & Co. (NYSE:AJG) last announced its earnings results on Thursday, July 30th. The financial services provider reported $2.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.81 by $0.03. The business had revenue of $3.95 billion for the quarter, compared to analyst estimates of $4.01 billion. Arthur J. Gallagher & Co. had a return on equity of 13.28% and a net margin of 9.96%.Arthur J. Gallagher & Co.’s revenue for the quarter was up 24.3% compared to the same quarter last year. During the same quarter last year, the firm earned $2.33 EPS. Equities analysts predict that Arthur J. Gallagher & Co. will post 13.27 earnings per share for the current fiscal year.

Arthur J. Gallagher & Co. Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 18th. Shareholders of record on Tuesday, September 8th will be paid a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 1.1%. The ex-dividend date is Tuesday, September 8th. Arthur J. Gallagher & Co.’s payout ratio is presently 46.43%.

About Arthur J. Gallagher & Co.

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.