Kestra Private Wealth Services LLC Purchases 5,710 Shares of Arthur J. Gallagher & Co. $AJG

Kestra Private Wealth Services LLC lifted its position in shares of Arthur J. Gallagher & Co. (NYSE:AJG) by 252.5% during the 1st quarter, Holdings Channel reports. The firm owned 7,971 shares of the financial services provider’s stock after purchasing an additional 5,710 shares during the quarter. Kestra Private Wealth Services LLC’s holdings in Arthur J. Gallagher & Co. were worth $1,726,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of AJG. Kemnay Advisory Services Inc. acquired a new stake in shares of Arthur J. Gallagher & Co. in the fourth quarter valued at approximately $26,000. Rakuten Securities Inc. raised its stake in Arthur J. Gallagher & Co. by 650.0% in the 2nd quarter. Rakuten Securities Inc. now owns 105 shares of the financial services provider’s stock valued at $34,000 after acquiring an additional 91 shares during the period. Financial Life Planners acquired a new stake in Arthur J. Gallagher & Co. during the 3rd quarter valued at $39,000. MV Capital Management Inc. acquired a new stake in Arthur J. Gallagher & Co. during the 4th quarter valued at $34,000. Finally, Prosperity Bancshares Inc bought a new position in Arthur J. Gallagher & Co. during the fourth quarter worth $42,000. 85.53% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

AJG has been the topic of several research analyst reports. BMO Capital Markets raised shares of Arthur J. Gallagher & Co. from a “market perform” rating to an “outperform” rating and increased their price objective for the company from $275.00 to $278.00 in a research report on Tuesday, March 24th. Barclays upped their price target on shares of Arthur J. Gallagher & Co. from $262.00 to $275.00 and gave the company an “overweight” rating in a research note on Wednesday, April 8th. Mizuho lowered their price target on shares of Arthur J. Gallagher & Co. from $260.00 to $259.00 and set an “outperform” rating on the stock in a report on Monday, April 13th. Weiss Ratings restated a “hold (c-)” rating on shares of Arthur J. Gallagher & Co. in a report on Monday, June 15th. Finally, Truist Financial decreased their target price on Arthur J. Gallagher & Co. from $235.00 to $225.00 and set a “hold” rating on the stock in a research report on Friday, May 1st. Thirteen analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat.com, Arthur J. Gallagher & Co. currently has a consensus rating of “Moderate Buy” and a consensus price target of $264.12.

Arthur J. Gallagher & Co. Trading Up 0.4%

AJG stock opened at $226.91 on Tuesday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.06 and a current ratio of 1.06. The company’s 50-day simple moving average is $210.54 and its 200 day simple moving average is $225.81. Arthur J. Gallagher & Co. has a 52 week low of $190.75 and a 52 week high of $323.25. The company has a market capitalization of $58.29 billion, a PE ratio of 36.72, a price-to-earnings-growth ratio of 1.15 and a beta of 0.53.

Arthur J. Gallagher & Co. (NYSE:AJG) last released its quarterly earnings results on Thursday, April 30th. The financial services provider reported $4.47 EPS for the quarter, topping analysts’ consensus estimates of $4.43 by $0.04. The business had revenue of $4.71 billion for the quarter, compared to analyst estimates of $4.73 billion. Arthur J. Gallagher & Co. had a net margin of 10.76% and a return on equity of 12.83%. Arthur J. Gallagher & Co.’s revenue for the quarter was up 29.0% compared to the same quarter last year. During the same period last year, the firm earned $3.67 earnings per share. As a group, sell-side analysts anticipate that Arthur J. Gallagher & Co. will post 13.23 earnings per share for the current year.

Arthur J. Gallagher & Co. Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 19th. Stockholders of record on Friday, June 5th were given a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date was Friday, June 5th. Arthur J. Gallagher & Co.’s payout ratio is presently 45.31%.

Insider Activity

In related news, CAO Richard C. Cary sold 3,000 shares of the business’s stock in a transaction that occurred on 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 sale, the chief accounting officer directly owned 47,819 shares in the company, valued at approximately $9,850,714. The trade was a 5.90% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 1.40% of the company’s stock.

Arthur J. Gallagher & Co. Profile

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.