Elevation Point Wealth Partners LLC Invests $501,000 in Arthur J. Gallagher & Co. $AJG

Elevation Point Wealth Partners LLC acquired a new stake in Arthur J. Gallagher & Co. (NYSE:AJG) in the first quarter, HoldingsChannel reports. The firm acquired 2,315 shares of the financial services provider’s stock, valued at approximately $501,000.

Several other hedge funds have also added to or reduced their stakes in the business. Kemnay Advisory Services Inc. acquired a new position in shares of Arthur J. Gallagher & Co. in the fourth quarter worth approximately $26,000. MV Capital Management Inc. acquired a new stake in Arthur J. Gallagher & Co. during the 4th quarter worth about $34,000. Rakuten Securities Inc. raised its position in shares of 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 worth $34,000 after acquiring an additional 91 shares in the last quarter. Financial Life Planners acquired a new stake in Arthur J. Gallagher & Co. during the third quarter worth approximately $39,000. Finally, Prosperity Bancshares Inc acquired a new stake in shares of Arthur J. Gallagher & Co. during the 4th quarter worth approximately $42,000. 85.53% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Arthur J. Gallagher & Co.

In other Arthur J. Gallagher & Co. news, CAO Richard C. Cary sold 3,000 shares of Arthur J. Gallagher & Co. stock in a transaction on Tuesday, June 2nd. The shares were sold at an average price of $206.00, for a total transaction of $618,000.00. Following the transaction, the chief accounting officer directly owned 47,819 shares of the company’s stock, valued at $9,850,714. The trade was a 5.90% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 1.40% of the company’s stock.

Arthur J. Gallagher & Co. Trading Up 0.8%

NYSE:AJG opened at $256.73 on Thursday. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.06 and a quick ratio of 1.06. Arthur J. Gallagher & Co. has a one year low of $190.75 and a one year high of $316.89. The company has a market cap of $65.95 billion, a PE ratio of 41.54, a PEG ratio of 1.29 and a beta of 0.50. The firm has a 50-day moving average of $214.46 and a 200-day moving average of $225.67.

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

Arthur J. Gallagher & Co. Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 19th. Investors of record on Friday, June 5th were given a dividend of $0.70 per share. The ex-dividend date of this dividend was Friday, June 5th. This represents a $2.80 annualized dividend and a dividend yield of 1.1%. Arthur J. Gallagher & Co.’s payout ratio is presently 45.31%.

Arthur J. Gallagher & Co. News Roundup

Here are the key news stories impacting Arthur J. Gallagher & Co. this week:

• Positive Sentiment: Arthur J. Gallagher agreed to acquire Wilson M. Beck Insurance Services Inc., expanding its Canadian retail brokerage and commercial insurance footprint in Western Canada. Arthur J. Gallagher & Co. Acquires Wilson M. Beck Insurance Services Inc.
• Positive Sentiment: Wall Street expects Arthur J. Gallagher’s upcoming second-quarter earnings to show a double-digit profit increase, reinforcing optimism ahead of the report. Arthur J. Gallagher Earnings Preview: What to Expect
• Positive Sentiment: Keefe, Bruyette & Woods raised its price target on AJG to $261 from $242, signaling continued confidence in the stock’s valuation. Benzinga report on AJG price target raise
• Neutral Sentiment: Multiple market reports highlighted the same acquisition and earnings preview, suggesting the recent move is being driven more by sentiment and expectations than by any new operational surprise. AJG Grows Canada Commercial Insurance Business With WMB Acquisition

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. Barclays boosted their target price on shares of Arthur J. Gallagher & Co. from $275.00 to $292.00 and gave the company an “overweight” rating in a research report on Tuesday. Weiss Ratings restated a “hold (c-)” rating on shares of Arthur J. Gallagher & Co. in a report on Monday, June 15th. UBS Group upped their price objective on shares of Arthur J. Gallagher & Co. from $250.00 to $291.00 and gave the company a “buy” rating in a report on Wednesday. Wells Fargo & Company cut their price objective on shares of Arthur J. Gallagher & Co. from $273.00 to $266.00 and set an “overweight” rating on the stock in a research report on Thursday, April 9th. Finally, Royal Bank Of Canada assumed coverage on Arthur J. Gallagher & Co. in a research note on Tuesday, March 17th. They issued an “outperform” rating and a $260.00 target price for the company. Thirteen research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $269.53.

About Arthur J. Gallagher & Co.

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.