GRIMES & Co WEALTH MANAGEMENT LLC Increases Position in Arthur J. Gallagher & Co. $AJG

GRIMES & Co WEALTH MANAGEMENT LLC increased its position in Arthur J. Gallagher & Co. (NYSE:AJG) by 57.6% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 11,457 shares of the financial services provider’s stock after buying an additional 4,186 shares during the period. GRIMES & Co WEALTH MANAGEMENT LLC’s holdings in Arthur J. Gallagher & Co. were worth $3,549,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. J.Safra Asset Management Corp grew its position in shares of Arthur J. Gallagher & Co. by 209.1% during the second quarter. J.Safra Asset Management Corp now owns 102 shares of the financial services provider’s stock worth $32,000 after purchasing an additional 69 shares in the last quarter. Rakuten Securities Inc. grew its stake in Arthur J. Gallagher & Co. by 650.0% during the second 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 in the last quarter. Steph & Co. purchased a new stake in Arthur J. Gallagher & Co. in the 2nd quarter worth $40,000. Central Pacific Bank Trust Division grew its position in shares of Arthur J. Gallagher & Co. by 40.6% during the third quarter. Central Pacific Bank Trust Division now owns 135 shares of the financial services provider’s stock valued at $42,000 after purchasing an additional 39 shares in the last quarter. Finally, Salomon & Ludwin LLC bought a new stake in shares of Arthur J. Gallagher & Co. in the second quarter worth about $45,000. 85.53% of the stock is owned by institutional investors.

Insider Transactions at Arthur J. Gallagher & Co.

In other news, General Counsel Walter D. Bay sold 15,850 shares of the firm’s stock in a transaction dated Friday, December 19th. The shares were sold at an average price of $255.00, for a total value of $4,041,750.00. Following the sale, the general counsel directly owned 79,549 shares in the company, valued at approximately $20,284,995. This trade represents a 16.61% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Richard C. Cary sold 6,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 18th. The stock was sold at an average price of $261.00, for a total transaction of $1,566,000.00. Following the transaction, the chief accounting officer owned 50,668 shares of the company’s stock, valued at approximately $13,224,348. This trade represents a 10.59% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 32,100 shares of company stock worth $8,243,865. Company insiders own 1.30% of the company’s stock.

Arthur J. Gallagher & Co. Stock Down 3.1%

NYSE:AJG opened at $256.71 on Wednesday. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.06 and a quick ratio of 1.06. The firm has a market cap of $65.92 billion, a PE ratio of 38.37 and a beta of 0.67. The company has a 50-day moving average of $253.40 and a 200 day moving average of $281.92. Arthur J. Gallagher & Co. has a 1-year low of $236.34 and a 1-year high of $351.23.

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

Arthur J. Gallagher & Co. Announces Dividend

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

Analysts Set New Price Targets

A number of research firms have issued reports on AJG. Piper Sandler downgraded Arthur J. Gallagher & Co. from an “overweight” rating to a “neutral” rating and reduced their price objective for the stock from $276.00 to $272.00 in a research note on Wednesday, January 7th. Cowen reaffirmed a “buy” rating on shares of Arthur J. Gallagher & Co. in a research note on Friday, October 31st. Citigroup dropped their price objective 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. Wolfe Research set a $289.00 target price on shares of Arthur J. Gallagher & Co. and gave the company an “outperform” rating in a research report on Wednesday, December 17th. Finally, UBS Group lowered their price target on shares of Arthur J. Gallagher & Co. from $329.00 to $285.00 and set a “neutral” rating for the company in a report on Wednesday, December 17th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $295.33.

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.