Mission Wealth Management LP Boosts Stock Holdings in Arthur J. Gallagher & Co. (NYSE:AJG)

Mission Wealth Management LP grew its position in Arthur J. Gallagher & Co. (NYSE:AJG) by 21.8% during the 4th quarter, HoldingsChannel.com reports. The fund owned 1,405 shares of the financial services provider’s stock after buying an additional 251 shares during the quarter. Mission Wealth Management LP’s holdings in Arthur J. Gallagher & Co. were worth $316,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in AJG. Raymond James Financial Services Advisors Inc. grew its holdings in shares of Arthur J. Gallagher & Co. by 27.1% during the third quarter. Raymond James Financial Services Advisors Inc. now owns 103,676 shares of the financial services provider’s stock worth $23,631,000 after buying an additional 22,127 shares in the last quarter. Stratos Wealth Advisors LLC raised its holdings in Arthur J. Gallagher & Co. by 17.6% in the 3rd quarter. Stratos Wealth Advisors LLC now owns 4,440 shares of the financial services provider’s stock valued at $1,012,000 after acquiring an additional 666 shares during the last quarter. Mn Services Vermogensbeheer B.V. boosted its holdings in shares of Arthur J. Gallagher & Co. by 3.1% during the 3rd quarter. Mn Services Vermogensbeheer B.V. now owns 104,210 shares of the financial services provider’s stock worth $23,753,000 after purchasing an additional 3,100 shares during the last quarter. Forsta AP Fonden grew its position in shares of Arthur J. Gallagher & Co. by 10.6% in the third quarter. Forsta AP Fonden now owns 45,000 shares of the financial services provider’s stock valued at $10,257,000 after purchasing an additional 4,300 shares in the last quarter. Finally, Kowal Investment Group LLC acquired a new stake in shares of Arthur J. Gallagher & Co. in the third quarter valued at approximately $208,000. 85.53% of the stock is owned by institutional investors and hedge funds.

Arthur J. Gallagher & Co. Trading Up 0.0 %

Shares of AJG stock opened at $238.62 on Friday. The stock has a market capitalization of $52.09 billion, a P/E ratio of 48.30, a price-to-earnings-growth ratio of 2.23 and a beta of 0.69. 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 0.70, a quick ratio of 1.03 and a current ratio of 1.05. The company has a 50 day moving average price of $243.83 and a 200 day moving average price of $239.00.

Arthur J. Gallagher & Co. (NYSE:AJG) last posted its quarterly earnings data on Thursday, April 25th. The financial services provider reported $3.49 earnings per share for the quarter, topping analysts’ consensus estimates of $3.41 by $0.08. The business had revenue of $3.22 billion for the quarter, compared to analyst estimates of $3.18 billion. Arthur J. Gallagher & Co. had a return on equity of 18.94% and a net margin of 10.27%. The company’s revenue was up 20.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.03 earnings per share. Equities research analysts predict that Arthur J. Gallagher & Co. will post 10.08 EPS for the current fiscal year.

Arthur J. Gallagher & Co. Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, June 21st. Investors of record on Friday, June 7th will be paid a dividend of $0.60 per share. The ex-dividend date of this dividend is Friday, June 7th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.01%. Arthur J. Gallagher & Co.’s payout ratio is 48.58%.

Insider Activity at Arthur J. Gallagher & Co.

In other news, Director David S. Johnson sold 500 shares of the firm’s stock in a transaction on Tuesday, February 6th. The shares were sold at an average price of $234.04, for a total value of $117,020.00. Following the sale, the director now directly owns 45,038 shares in the company, valued at approximately $10,540,693.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, VP Scott R. Hudson sold 15,000 shares of the company’s stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $255.06, for a total value of $3,825,900.00. Following the completion of the transaction, the vice president now owns 96,709 shares in the company, valued at approximately $24,666,597.54. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director David S. Johnson sold 500 shares of Arthur J. Gallagher & Co. stock in a transaction 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 sale, the director now owns 45,038 shares in the company, valued at $10,540,693.52. The disclosure for this sale can be found here. Insiders have sold a total of 29,016 shares of company stock valued at $7,176,180 over the last 90 days. 1.60% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

AJG has been the subject of several analyst reports. Truist Financial restated a “hold” rating and issued a $255.00 target price (down from $280.00) on shares of Arthur J. Gallagher & Co. in a report on Wednesday, April 10th. Keefe, Bruyette & Woods reduced their price target on shares of Arthur J. Gallagher & Co. from $246.00 to $240.00 and set an “underperform” rating on the stock in a research report on Wednesday, April 10th. Royal Bank of Canada increased their price objective 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. Jefferies Financial Group downgraded Arthur J. Gallagher & Co. from a “buy” rating to a “hold” rating and reduced their target price for the company from $279.00 to $233.00 in a research report on Tuesday, January 9th. Finally, Piper Sandler cut their price objective on Arthur J. Gallagher & Co. from $253.00 to $252.00 and set a “neutral” rating for the company in a research report on Monday, April 29th. 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. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $255.31.

About Arthur J. Gallagher & Co.

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.