Legacy Wealth Management LLC MS Sells 3,008 Shares of Arthur J. Gallagher & Co. $AJG

Legacy Wealth Management LLC MS decreased its holdings in Arthur J. Gallagher & Co. (NYSE:AJG) by 22.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 10,483 shares of the financial services provider’s stock after selling 3,008 shares during the quarter. Arthur J. Gallagher & Co. makes up 1.0% of Legacy Wealth Management LLC MS’s investment portfolio, making the stock its 24th biggest holding. Legacy Wealth Management LLC MS’s holdings in Arthur J. Gallagher & Co. were worth $3,247,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. SeaCrest Wealth Management LLC increased its stake in shares of Arthur J. Gallagher & Co. by 2.3% in the second quarter. SeaCrest Wealth Management LLC now owns 1,542 shares of the financial services provider’s stock valued at $494,000 after buying an additional 34 shares during the period. Ashton Thomas Private Wealth LLC boosted its holdings in Arthur J. Gallagher & Co. by 1.3% in the first quarter. Ashton Thomas Private Wealth LLC now owns 2,746 shares of the financial services provider’s stock valued at $948,000 after acquiring an additional 35 shares during the last quarter. Contravisory Investment Management Inc. increased its position in Arthur J. Gallagher & Co. by 0.6% during the 2nd quarter. Contravisory Investment Management Inc. now owns 5,501 shares of the financial services provider’s stock valued at $1,761,000 after purchasing an additional 35 shares during the period. Tritonpoint Wealth LLC raised its holdings in Arthur J. Gallagher & Co. by 1.1% during the 2nd quarter. Tritonpoint Wealth LLC now owns 3,222 shares of the financial services provider’s stock worth $1,032,000 after purchasing an additional 35 shares during the last quarter. Finally, D.A. Davidson & CO. lifted its position in shares of Arthur J. Gallagher & Co. by 1.2% in the 2nd quarter. D.A. Davidson & CO. now owns 2,892 shares of the financial services provider’s stock worth $926,000 after purchasing an additional 35 shares during the period. 85.53% of the stock is owned by institutional investors.

Insider Activity at Arthur J. Gallagher & Co.

In other news, CFO Douglas K. Howell sold 5,000 shares of the stock in a transaction that occurred on Monday, December 22nd. The stock was sold at an average price of $258.05, for a total value of $1,290,250.00. Following the completion of the sale, the chief financial officer directly owned 95,777 shares of the company’s stock, valued at $24,715,254.85. This represents a 4.96% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Michael Robert Pesch bought 4,000 shares of the business’s stock in a transaction that occurred on Monday, November 3rd. The shares were bought at an average cost of $247.12 per share, for a total transaction of $988,480.00. Following the transaction, the vice president owned 41,849 shares of the company’s stock, valued at $10,341,724.88. The trade was a 10.57% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders sold a total of 32,100 shares of company stock valued at $8,243,865 over the last quarter. 1.60% of the stock is currently owned by company insiders.

Arthur J. Gallagher & Co. Stock Up 2.2%

Shares of NYSE:AJG opened at $264.70 on Friday. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.06 and a current ratio of 1.06. Arthur J. Gallagher & Co. has a 52-week low of $236.34 and a 52-week high of $351.23. The business’s 50 day simple moving average is $252.57 and its two-hundred day simple moving average is $283.69. The firm has a market cap of $67.97 billion, a P/E ratio of 39.57 and a beta of 0.67.

Arthur J. Gallagher & Co. (NYSE:AJG) last issued its earnings results on Thursday, October 30th. The financial services provider reported $2.32 earnings per share for the quarter, missing analysts’ consensus estimates of $2.51 by ($0.19). Arthur J. Gallagher & Co. had a return on equity of 11.98% and a net margin of 13.58%.The firm had revenue of $3.33 billion for the quarter, compared to analyst estimates of $3.34 billion. During the same period in the previous year, the company earned $2.26 earnings per share. Arthur J. Gallagher & Co.’s revenue for the quarter was up 20.2% compared to the same quarter last year. As a group, research analysts forecast that Arthur J. Gallagher & Co. will post 11.54 EPS for the current fiscal year.

Arthur J. Gallagher & Co. Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 19th. Stockholders of record on Friday, December 5th were issued a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date was Friday, December 5th. Arthur J. Gallagher & Co.’s dividend payout ratio (DPR) is currently 38.86%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on AJG shares. Citigroup lowered their target price on shares of Arthur J. Gallagher & Co. from $330.00 to $277.00 and set a “neutral” rating for the company in a research note on Monday, November 3rd. The Goldman Sachs Group reissued a “buy” rating and issued a $292.00 price objective on shares of Arthur J. Gallagher & Co. in a research report on Wednesday. Morgan Stanley set a $300.00 target price on Arthur J. Gallagher & Co. in a research report on Friday, December 19th. Wolfe Research set a $289.00 target price on Arthur J. Gallagher & Co. and gave the stock an “outperform” rating in a report on Wednesday, December 17th. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of Arthur J. Gallagher & Co. in a report on Monday, December 29th. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $301.94.

Arthur J. Gallagher & Co. Company 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.