Axxcess Wealth Management LLC Increases Stake in Arthur J. Gallagher & Co. (NYSE:AJG)

Axxcess Wealth Management LLC grew its stake in Arthur J. Gallagher & Co. (NYSE:AJGGet Rating) by 2.7% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,348 shares of the financial services provider’s stock after acquiring an additional 89 shares during the quarter. Axxcess Wealth Management LLC’s holdings in Arthur J. Gallagher & Co. were worth $546,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of AJG. Zions Bancorporation N.A. increased its stake in shares of Arthur J. Gallagher & Co. by 55.1% in the 2nd quarter. Zions Bancorporation N.A. now owns 197 shares of the financial services provider’s stock worth $32,000 after acquiring an additional 70 shares during the last quarter. Zullo Investment Group Inc. increased its position in shares of Arthur J. Gallagher & Co. by 223.0% during the 1st quarter. Zullo Investment Group Inc. now owns 239 shares of the financial services provider’s stock worth $42,000 after purchasing an additional 165 shares during the last quarter. Venture Visionary Partners LLC acquired a new stake in shares of Arthur J. Gallagher & Co. during the 2nd quarter worth about $44,000. Clear Street Markets LLC increased its position in shares of Arthur J. Gallagher & Co. by 412.8% during the 2nd quarter. Clear Street Markets LLC now owns 441 shares of the financial services provider’s stock worth $72,000 after purchasing an additional 355 shares during the last quarter. Finally, Fieldpoint Private Securities LLC increased its position in shares of Arthur J. Gallagher & Co. by 172.8% during the 2nd quarter. Fieldpoint Private Securities LLC now owns 461 shares of the financial services provider’s stock worth $75,000 after purchasing an additional 292 shares during the last quarter. 81.22% of the stock is owned by institutional investors and hedge funds.

Arthur J. Gallagher & Co. Stock Performance

Shares of AJG opened at $197.32 on Thursday. The stock has a 50-day simple moving average of $181.04 and a 200-day simple moving average of $173.77. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.06 and a current ratio of 1.06. The stock has a market capitalization of $41.60 billion, a PE ratio of 38.84, a PEG ratio of 2.48 and a beta of 0.68. Arthur J. Gallagher & Co. has a 1 year low of $147.32 and a 1 year high of $198.54.

Arthur J. Gallagher & Co. (NYSE:AJGGet Rating) last announced its quarterly earnings data on Thursday, October 27th. The financial services provider reported $1.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.67 by $0.05. The business had revenue of $2.01 billion during the quarter, compared to analysts’ expectations of $2.04 billion. Arthur J. Gallagher & Co. had a return on equity of 17.56% and a net margin of 12.86%. The business’s quarterly revenue was down 4.4% compared to the same quarter last year. During the same quarter last year, the business posted $1.33 EPS. On average, analysts predict that Arthur J. Gallagher & Co. will post 7.77 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, December 16th. Investors of record on Friday, December 2nd will be paid a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a yield of 1.03%. The ex-dividend date of this dividend is Thursday, December 1st. Arthur J. Gallagher & Co.’s payout ratio is 40.16%.

Insider Buying and Selling

In related news, CFO Douglas K. Howell sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 22nd. The stock was sold at an average price of $196.35, for a total transaction of $1,963,500.00. Following the completion of the sale, the chief financial officer now owns 88,123 shares in the company, valued at $17,302,951.05. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other Arthur J. Gallagher & Co. news, CFO Douglas K. Howell sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 22nd. The stock was sold at an average price of $196.35, for a total value of $1,963,500.00. Following the completion of the sale, the chief financial officer now owns 88,123 shares in the company, valued at $17,302,951.05. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director William L. Bax sold 350 shares of the business’s stock in a transaction that occurred on Monday, October 31st. The shares were sold at an average price of $189.30, for a total value of $66,255.00. Following the completion of the sale, the director now owns 45,405 shares of the company’s stock, valued at approximately $8,595,166.50. The disclosure for this sale can be found here. Insiders sold a total of 20,350 shares of company stock worth $3,956,955 over the last 90 days. 1.40% of the stock is owned by insiders.

Analysts Set New Price Targets

AJG has been the subject of a number of recent analyst reports. Royal Bank of Canada raised their price objective on Arthur J. Gallagher & Co. from $196.00 to $200.00 and gave the stock an “outperform” rating in a research report on Friday, October 28th. Raymond James raised their price objective on Arthur J. Gallagher & Co. from $195.00 to $205.00 and gave the stock a “strong-buy” rating in a research report on Monday, August 1st. Argus assumed coverage on Arthur J. Gallagher & Co. in a research report on Friday, August 26th. They issued a “buy” rating and a $215.00 target price for the company. Truist Financial lifted their target price on Arthur J. Gallagher & Co. from $210.00 to $220.00 and gave the company a “buy” rating in a research report on Friday, October 28th. Finally, Wells Fargo & Company lifted their target price on Arthur J. Gallagher & Co. from $212.00 to $215.00 and gave the company an “overweight” rating in a research report on Friday, October 28th. Four investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Arthur J. Gallagher & Co. has an average rating of “Moderate Buy” and a consensus target price of $205.36.

Arthur J. Gallagher & Co. Profile

(Get Rating)

Arthur J. Gallagher & Co, together with its subsidiaries, provides insurance brokerage, consulting, third-party claims settlement, and administration services in the United States, Australia, Bermuda, Canada, the Caribbean, New Zealand, India, and the United Kingdom. It operates through Brokerage and Risk Management segments.

See Also

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Institutional Ownership by Quarter for Arthur J. Gallagher & Co. (NYSE:AJG)

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