Cerity Partners LLC Boosts Position in Arthur J. Gallagher & Co. (NYSE:AJG)

Cerity Partners LLC raised its stake in shares of Arthur J. Gallagher & Co. (NYSE:AJG) by 76.7% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 7,413 shares of the financial services provider’s stock after buying an additional 3,218 shares during the quarter. Cerity Partners LLC’s holdings in Arthur J. Gallagher & Co. were worth $1,667,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. McGlone Suttner Wealth Management Inc. grew its holdings in Arthur J. Gallagher & Co. by 4.0% during the 4th quarter. McGlone Suttner Wealth Management Inc. now owns 2,286 shares of the financial services provider’s stock valued at $514,000 after buying an additional 88 shares in the last quarter. Fidelis Capital Partners LLC boosted its position in shares of Arthur J. Gallagher & Co. by 3.7% during the 3rd quarter. Fidelis Capital Partners LLC now owns 1,325 shares of the financial services provider’s stock valued at $302,000 after acquiring an additional 47 shares during the last quarter. Legato Capital Management LLC boosted its position in shares of Arthur J. Gallagher & Co. by 43.7% during the 4th quarter. Legato Capital Management LLC now owns 13,495 shares of the financial services provider’s stock valued at $3,035,000 after acquiring an additional 4,102 shares during the last quarter. Guinness Atkinson Asset Management Inc boosted its position in shares of Arthur J. Gallagher & Co. by 7.4% during the 3rd quarter. Guinness Atkinson Asset Management Inc now owns 3,913 shares of the financial services provider’s stock valued at $892,000 after acquiring an additional 268 shares during the last quarter. Finally, Rafferty Asset Management LLC boosted its position in shares of Arthur J. Gallagher & Co. by 5.3% during the 3rd quarter. Rafferty Asset Management LLC now owns 72,328 shares of the financial services provider’s stock valued at $16,486,000 after acquiring an additional 3,633 shares during the last quarter. Hedge funds and other institutional investors own 85.53% of the company’s stock.

Arthur J. Gallagher & Co. Stock Performance

NYSE:AJG opened at $236.57 on Friday. The firm has a market cap of $51.64 billion, a PE ratio of 53.28, a price-to-earnings-growth ratio of 2.17 and a beta of 0.68. Arthur J. Gallagher & Co. has a fifty-two week low of $198.52 and a fifty-two week high of $256.10. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.03 and a current ratio of 1.03. The business has a 50 day moving average price of $244.38 and a 200-day moving average price of $238.69.

Arthur J. Gallagher & Co. (NYSE:AJG) last released its quarterly earnings data on Thursday, January 25th. The financial services provider reported $1.85 earnings per share for the quarter, beating analysts’ consensus estimates of $1.83 by $0.02. The firm had revenue of $2.39 billion during the quarter, compared to analyst estimates of $2.40 billion. Arthur J. Gallagher & Co. had a return on equity of 18.49% and a net margin of 9.63%. During the same quarter in the prior year, the firm posted $1.54 earnings per share. Equities research analysts predict that Arthur J. Gallagher & Co. will post 10.06 earnings per share for the current year.

Arthur J. Gallagher & Co. Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Friday, March 1st were issued a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.01%. The ex-dividend date of this dividend was Thursday, February 29th. This is an increase from Arthur J. Gallagher & Co.’s previous quarterly dividend of $0.55. Arthur J. Gallagher & Co.’s dividend payout ratio is currently 54.05%.

Analyst Upgrades and Downgrades

AJG has been the subject of a number of research analyst reports. Truist Financial reiterated a “hold” rating and set a $255.00 price target (down previously from $280.00) on shares of Arthur J. Gallagher & Co. in a research report on Wednesday, April 10th. Jefferies Financial Group downgraded Arthur J. Gallagher & Co. from a “buy” rating to a “hold” rating and dropped their price target for the company from $279.00 to $233.00 in a research report on Tuesday, January 9th. Royal Bank of Canada boosted their target price on Arthur J. Gallagher & Co. from $270.00 to $282.00 and gave the stock an “outperform” rating in a research report on Friday, March 22nd. TD Cowen boosted their target price on Arthur J. Gallagher & Co. from $249.00 to $273.00 and gave the stock a “hold” rating in a research report on Tuesday, April 2nd. Finally, Keefe, Bruyette & Woods dropped their target price on Arthur J. Gallagher & Co. from $246.00 to $240.00 and set an “underperform” rating for the company in a research report on Wednesday, April 10th. One analyst has rated the stock with a sell rating, six have given a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, Arthur J. Gallagher & Co. presently has a consensus rating of “Hold” and a consensus price target of $255.23.

Insider Activity at Arthur J. Gallagher & Co.

In related news, Director David S. Johnson sold 500 shares of the company’s stock in a transaction that occurred on Tuesday, February 6th. The stock was sold at an average price of $234.04, for a total transaction of $117,020.00. Following the completion of the transaction, the director now owns 45,038 shares in the company, valued at $10,540,693.52. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, VP Joel D. Cavaness sold 1,207 shares of the company’s stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $255.20, for a total transaction of $308,026.40. Following the completion of the transaction, the vice president now owns 2,023 shares in the company, valued at $516,269.60. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director David S. Johnson sold 500 shares of the stock in a transaction on Tuesday, February 6th. The stock was sold at an average price of $234.04, for a total value of $117,020.00. Following the completion of the transaction, the director now owns 45,038 shares of the company’s stock, valued at approximately $10,540,693.52. The disclosure for this sale can be found here. Insiders sold a total of 29,016 shares of company stock worth $7,176,180 over the last quarter. 1.60% of the stock is owned by corporate insiders.

Arthur J. Gallagher & Co. Company Profile

Arthur J. Gallagher & Co, together with its subsidiaries, provides insurance and reinsurance brokerage, consulting, and third-party property/casualty claims settlement and administration services to entities and individuals worldwide. It operates in Brokerage and Risk Management segments. The Brokerage segment offers retail and wholesale insurance and reinsurance brokerage services; assists retail brokers and other non-affiliated brokers in the placement of specialized and hard-to-place insurance; and acts as a brokerage wholesaler, managing general agent, and managing general underwriter for distributing specialized insurance coverages to underwriting enterprises.