Arthur J. Gallagher & Co. (NYSE:AJG) Shares Sold by Covenant Partners LLC

Covenant Partners LLC lessened its holdings in shares of Arthur J. Gallagher & Co. (NYSE:AJG) by 0.7% in the fourth quarter, HoldingsChannel reports. The fund owned 5,288 shares of the financial services provider’s stock after selling 38 shares during the period. Arthur J. Gallagher & Co. makes up about 0.5% of Covenant Partners LLC’s portfolio, making the stock its 26th largest holding. Covenant Partners LLC’s holdings in Arthur J. Gallagher & Co. were worth $1,501,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Valley National Advisers Inc. bought a new stake in shares of Arthur J. Gallagher & Co. during the 4th quarter worth about $25,000. MRP Capital Investments LLC bought a new stake in Arthur J. Gallagher & Co. during the fourth quarter worth approximately $28,000. New Age Alpha Advisors LLC lifted its position in Arthur J. Gallagher & Co. by 81.7% in the fourth quarter. New Age Alpha Advisors LLC now owns 109 shares of the financial services provider’s stock worth $31,000 after purchasing an additional 49 shares during the period. Johnson Financial Group Inc. boosted its stake in Arthur J. Gallagher & Co. by 205.4% during the 4th quarter. Johnson Financial Group Inc. now owns 113 shares of the financial services provider’s stock valued at $34,000 after purchasing an additional 76 shares in the last quarter. Finally, E Fund Management Hong Kong Co. Ltd. bought a new stake in shares of Arthur J. Gallagher & Co. in the 4th quarter worth $35,000. Institutional investors own 85.53% of the company’s stock.

Wall Street Analysts Forecast Growth

AJG has been the subject of several research reports. Redburn Atlantic started coverage on Arthur J. Gallagher & Co. in a research note on Tuesday, March 25th. They set a “neutral” rating and a $352.00 target price for the company. Jefferies Financial Group dropped their target price on shares of Arthur J. Gallagher & Co. from $266.00 to $265.00 and set a “hold” rating on the stock in a report on Friday, April 11th. Barclays lifted their price target on shares of Arthur J. Gallagher & Co. from $308.00 to $346.00 and gave the stock an “equal weight” rating in a research report on Friday, April 11th. Truist Financial raised their price objective on Arthur J. Gallagher & Co. from $275.00 to $290.00 and gave the stock a “hold” rating in a research note on Friday, January 31st. Finally, Keefe, Bruyette & Woods upped their target price on Arthur J. Gallagher & Co. from $307.00 to $315.00 and gave the company a “market perform” rating in a report on Friday. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $315.33.

Insider Transactions at Arthur J. Gallagher & Co.

In other Arthur J. Gallagher & Co. news, Director David S. Johnson sold 325 shares of the company’s stock in a transaction that occurred on Wednesday, February 12th. The stock was sold at an average price of $322.06, for a total transaction of $104,669.50. Following the completion of the sale, the director now owns 44,783 shares of the company’s stock, valued at $14,422,812.98. This represents a 0.72 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Richard C. Cary sold 10,000 shares of Arthur J. Gallagher & Co. stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $322.99, for a total transaction of $3,229,900.00. Following the completion of the transaction, the chief accounting officer now directly owns 69,774 shares in the company, valued at approximately $22,536,304.26. This represents a 12.54 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 17,835 shares of company stock worth $5,839,830 in the last 90 days. 1.60% of the stock is owned by insiders.

Arthur J. Gallagher & Co. Stock Up 1.4 %

AJG stock opened at $335.55 on Tuesday. The company has a 50 day moving average of $330.25 and a two-hundred day moving average of $308.88. The company has a market cap of $85.81 billion, a price-to-earnings ratio of 51.47 and a beta of 0.64. Arthur J. Gallagher & Co. has a 12-month low of $238.94 and a 12-month high of $350.70. The company has a quick ratio of 1.51, a current ratio of 1.51 and a debt-to-equity ratio of 0.63.

Arthur J. Gallagher & Co. (NYSE:AJG) last issued its earnings results on Thursday, May 1st. The financial services provider reported $3.67 EPS for the quarter, beating analysts’ consensus estimates of $3.57 by $0.10. The firm had revenue of $3.69 billion for the quarter, compared to the consensus estimate of $3.85 billion. Arthur J. Gallagher & Co. had a return on equity of 16.47% and a net margin of 12.70%. The business’s quarterly revenue was up 14.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.45 earnings per share. On average, equities analysts anticipate that Arthur J. Gallagher & Co. will post 11.54 earnings per share for the current fiscal year.

Arthur J. Gallagher & Co. Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 20th. Shareholders of record on Friday, June 6th will be paid a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a yield of 0.77%. The ex-dividend date is Friday, June 6th. Arthur J. Gallagher & Co.’s dividend payout ratio (DPR) is presently 39.88%.

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.