Cresset Asset Management LLC Has $6.29 Million Stake in Arthur J. Gallagher & Co. $AJG

Cresset Asset Management LLC raised its stake in shares of Arthur J. Gallagher & Co. (NYSE:AJG) by 20.9% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 20,295 shares of the financial services provider’s stock after acquiring an additional 3,510 shares during the quarter. Cresset Asset Management LLC’s holdings in Arthur J. Gallagher & Co. were worth $6,286,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. Parkside Financial Bank & Trust boosted its position in Arthur J. Gallagher & Co. by 6.5% in the second quarter. Parkside Financial Bank & Trust now owns 570 shares of the financial services provider’s stock valued at $182,000 after buying an additional 35 shares in the last quarter. Dorsey & Whitney Trust CO LLC raised its stake in shares of Arthur J. Gallagher & Co. by 1.4% in the second quarter. Dorsey & Whitney Trust CO LLC now owns 2,623 shares of the financial services provider’s stock valued at $840,000 after acquiring an additional 35 shares during the last quarter. CX Institutional boosted its holdings in shares of Arthur J. Gallagher & Co. by 2.1% in the 3rd quarter. CX Institutional now owns 1,782 shares of the financial services provider’s stock worth $552,000 after acquiring an additional 36 shares in the last quarter. D.A. Davidson & CO. grew its position in Arthur J. Gallagher & Co. by 1.3% during the 3rd quarter. D.A. Davidson & CO. now owns 2,930 shares of the financial services provider’s stock worth $908,000 after acquiring an additional 38 shares during the last quarter. Finally, Citizens Financial Group Inc. RI raised its position in Arthur J. Gallagher & Co. by 1.0% in the 3rd quarter. Citizens Financial Group Inc. RI now owns 3,958 shares of the financial services provider’s stock valued at $1,226,000 after purchasing an additional 38 shares during the last quarter. Institutional investors own 85.53% of the company’s stock.

Insider Transactions at Arthur J. Gallagher & Co.

In other Arthur J. Gallagher & Co. news, VP Christopher E. Mead sold 4,000 shares of the company’s stock in a transaction that occurred on Tuesday, December 23rd. The shares were sold at an average price of $258.11, for a total value of $1,032,440.00. Following the completion of the sale, the vice president owned 17,327 shares of the company’s stock, valued at approximately $4,472,271.97. This represents a 18.76% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, General Counsel Walter D. Bay sold 15,850 shares of the stock in a transaction on Friday, December 19th. The stock was sold at an average price of $255.00, for a total transaction of $4,041,750.00. Following the completion of the sale, the general counsel owned 79,549 shares in the company, valued at approximately $20,284,995. This trade represents a 16.61% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 24,850 shares of company stock worth $6,364,440. 1.60% of the stock is currently owned by company insiders.

Arthur J. Gallagher & Co. Trading Up 1.9%

AJG opened at $229.82 on Friday. The firm has a 50 day simple moving average of $240.54 and a 200 day simple moving average of $264.15. Arthur J. Gallagher & Co. has a fifty-two week low of $195.00 and a fifty-two week high of $351.23. The company has a market cap of $59.09 billion, a price-to-earnings ratio of 37.37, a price-to-earnings-growth ratio of 1.09 and a beta of 0.67. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.06 and a quick ratio of 1.06.

Arthur J. Gallagher & Co. (NYSE:AJG) last released its earnings results on Thursday, January 29th. The financial services provider reported $2.38 EPS for the quarter, topping analysts’ consensus estimates of $2.35 by $0.03. The firm had revenue of $3.57 billion during the quarter, compared to analyst estimates of $3.61 billion. Arthur J. Gallagher & Co. had a net margin of 11.84% and a return on equity of 12.13%. The business’s quarterly revenue was up 33.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.12 EPS. On average, sell-side analysts anticipate that Arthur J. Gallagher & Co. will post 11.54 earnings per share for the current year.

Arthur J. Gallagher & Co. Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 20th. Shareholders of record on Friday, March 6th will be issued a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 1.2%. This is an increase from Arthur J. Gallagher & Co.’s previous quarterly dividend of $0.65. The ex-dividend date is Friday, March 6th. Arthur J. Gallagher & Co.’s dividend payout ratio (DPR) is 42.28%.

Analyst Ratings Changes

AJG has been the topic of several research analyst reports. Piper Sandler decreased their target price on Arthur J. Gallagher & Co. from $249.00 to $226.00 and set a “neutral” rating on the stock in a report on Monday, February 23rd. Needham & Company LLC set a $272.00 price objective on shares of Arthur J. Gallagher & Co. in a report on Thursday, December 18th. Barclays reduced their target price on shares of Arthur J. Gallagher & Co. from $250.00 to $247.00 and set an “underweight” rating on the stock in a research report on Thursday, January 8th. Wolfe Research set a $289.00 price target on shares of Arthur J. Gallagher & Co. and gave the company an “outperform” rating in a report on Wednesday, December 17th. Finally, Cantor Fitzgerald reaffirmed a “neutral” rating on shares of Arthur J. Gallagher & Co. in a report on Friday, January 30th. Seven research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $281.76.

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.