Arthur J. Gallagher & Co. $AJG Shares Purchased by Sequoia Financial Advisors LLC

Sequoia Financial Advisors LLC increased its stake in shares of Arthur J. Gallagher & Co. (NYSE:AJG) by 4.3% in the 2nd quarter, HoldingsChannel reports. The firm owned 121,783 shares of the financial services provider’s stock after purchasing an additional 4,992 shares during the period. Sequoia Financial Advisors LLC’s holdings in Arthur J. Gallagher & Co. were worth $38,985,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. HWG Holdings LP purchased a new stake in Arthur J. Gallagher & Co. during the 1st quarter worth about $25,000. AlphaQuest LLC purchased a new stake in Arthur J. Gallagher & Co. during the 1st quarter worth about $33,000. Saudi Central Bank purchased a new stake in Arthur J. Gallagher & Co. during the 1st quarter worth about $34,000. Centennial Bank AR purchased a new stake in Arthur J. Gallagher & Co. during the 1st quarter worth about $38,000. Finally, Golden State Wealth Management LLC lifted its holdings in Arthur J. Gallagher & Co. by 2,750.0% during the 1st quarter. Golden State Wealth Management LLC now owns 114 shares of the financial services provider’s stock worth $39,000 after buying an additional 110 shares during the last quarter. 85.53% of the stock is owned by institutional investors and hedge funds.

Arthur J. Gallagher & Co. Stock Performance

Shares of AJG stock opened at $301.75 on Monday. The stock has a market capitalization of $77.37 billion, a PE ratio of 42.86 and a beta of 0.73. Arthur J. Gallagher & Co. has a 52-week low of $275.56 and a 52-week high of $351.23. The stock’s 50-day moving average price is $299.11 and its 200 day moving average price is $315.45. The company has a quick ratio of 1.36, a current ratio of 1.36 and a debt-to-equity ratio of 0.52.

Arthur J. Gallagher & Co. (NYSE:AJG) last issued its quarterly earnings results on Thursday, July 31st. The financial services provider reported $2.33 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.36 by ($0.03). The company had revenue of $3.18 billion during the quarter, compared to analyst estimates of $3.20 billion. Arthur J. Gallagher & Co. had a net margin of 14.54% and a return on equity of 13.17%. The business’s revenue was up 16.0% on a year-over-year basis. During the same quarter last year, the firm earned $2.29 EPS. As a group, equities research analysts forecast that Arthur J. Gallagher & Co. will post 11.54 EPS for the current year.

Arthur J. Gallagher & Co. Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 19th. Investors of record on Friday, September 5th were given a $0.65 dividend. This represents a $2.60 annualized dividend and a yield of 0.9%. The ex-dividend date was Friday, September 5th. Arthur J. Gallagher & Co.’s payout ratio is 36.93%.

Insider Activity

In other Arthur J. Gallagher & Co. news, CFO Douglas K. Howell sold 8,000 shares of the business’s stock in a transaction that occurred on Monday, September 22nd. The stock was sold at an average price of $299.54, for a total transaction of $2,396,320.00. Following the transaction, the chief financial officer owned 100,777 shares in the company, valued at approximately $30,186,742.58. The trade was a 7.35% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Scott R. Hudson sold 12,855 shares of the business’s stock in a transaction that occurred on Monday, September 8th. The stock was sold at an average price of $297.60, for a total value of $3,825,648.00. Following the transaction, the vice president owned 85,920 shares in the company, valued at $25,569,792. The trade was a 13.01% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 29,855 shares of company stock worth $8,916,928 in the last 90 days. 1.30% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on AJG. Erste Group Bank reaffirmed a “hold” rating on shares of Arthur J. Gallagher & Co. in a report on Wednesday, July 23rd. Wells Fargo & Company lifted their price target on Arthur J. Gallagher & Co. from $365.00 to $366.00 and gave the stock an “overweight” rating in a report on Wednesday, October 8th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Arthur J. Gallagher & Co. in a report on Wednesday, October 8th. Piper Sandler reduced their target price on Arthur J. Gallagher & Co. from $352.00 to $340.00 and set an “overweight” rating for the company in a report on Thursday, October 2nd. Finally, Citigroup assumed coverage on Arthur J. Gallagher & Co. in a report on Wednesday, August 13th. They issued a “neutral” rating and a $317.00 target price for the company. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and eight have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $331.43.

Arthur J. Gallagher & Co. Company 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.