4,641 Shares in Arthur J. Gallagher & Co. $AJG Purchased by 44 Wealth Management LLC

44 Wealth Management LLC acquired a new position in Arthur J. Gallagher & Co. (NYSE:AJG) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 4,641 shares of the financial services provider’s stock, valued at approximately $1,005,000.

A number of other hedge funds have also recently modified their holdings of the business. Jump Financial LLC purchased a new stake in shares of Arthur J. Gallagher & Co. in the second quarter worth approximately $2,825,000. Qube Research & Technologies Ltd purchased a new position in Arthur J. Gallagher & Co. during the 2nd quarter valued at $3,429,000. Treasurer of the State of North Carolina increased its stake in Arthur J. Gallagher & Co. by 5.3% in the second quarter. Treasurer of the State of North Carolina now owns 118,467 shares of the financial services provider’s stock worth $37,924,000 after purchasing an additional 5,947 shares during the period. Peapack Gladstone Financial Corp grew its holdings in shares of Arthur J. Gallagher & Co. by 2,919.2% in the second quarter. Peapack Gladstone Financial Corp now owns 19,987 shares of the financial services provider’s stock worth $6,398,000 after purchasing an additional 19,325 shares during the last quarter. Finally, Armistice Capital LLC purchased a new position in Arthur J. Gallagher & Co. in the 2nd quarter worth about $412,000. Institutional investors own 85.53% of the company’s stock.

Insider Activity

In other news, CAO Richard C. Cary sold 3,000 shares of Arthur J. Gallagher & Co. stock in a transaction that occurred on Tuesday, June 2nd. The shares were sold at an average price of $206.00, for a total value of $618,000.00. Following the transaction, the chief accounting officer 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 1.40% of the stock is currently owned by insiders.

Analysts Set New Price Targets

AJG has been the subject of several research reports. Keefe, Bruyette & Woods boosted their price objective on shares of Arthur J. Gallagher & Co. from $242.00 to $261.00 and gave the company a “market perform” rating in a research report on Wednesday, July 8th. Cantor Fitzgerald boosted their price target on Arthur J. Gallagher & Co. from $285.00 to $300.00 and gave the company a “neutral” rating in a report on Thursday, July 9th. Truist Financial decreased their target price on Arthur J. Gallagher & Co. from $235.00 to $225.00 and set a “hold” rating for the company in a research report on Friday, May 1st. Wells Fargo & Company upped their target price on Arthur J. Gallagher & Co. from $271.00 to $299.00 and gave the stock an “overweight” rating in a report on Thursday, July 9th. Finally, UBS Group increased their price target on Arthur J. Gallagher & Co. from $250.00 to $291.00 and gave the stock a “buy” rating in a research report on Wednesday, July 8th. Thirteen research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $280.35.

Arthur J. Gallagher & Co. Stock Up 2.2%

Shares of NYSE AJG opened at $247.57 on Friday. Arthur J. Gallagher & Co. has a 12-month low of $190.75 and a 12-month high of $315.48. The stock’s fifty day simple moving average is $226.33 and its two-hundred day simple moving average is $225.22. The stock has a market capitalization of $63.60 billion, a PE ratio of 40.06, a price-to-earnings-growth ratio of 1.28 and a beta of 0.50. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 0.51.

Arthur J. Gallagher & Co. (NYSE:AJG) last released its quarterly earnings results on Thursday, April 30th. The financial services provider reported $4.47 EPS for the quarter, topping the consensus estimate of $4.43 by $0.04. Arthur J. Gallagher & Co. had a return on equity of 12.83% and a net margin of 10.76%.The firm had revenue of $4.71 billion during the quarter, compared to analyst estimates of $4.73 billion. During the same period in the previous year, the company posted $3.67 EPS. The business’s revenue for the quarter was up 29.0% compared to the same quarter last year. As a group, analysts expect that Arthur J. Gallagher & Co. will post 13.22 EPS for the current fiscal year.

Arthur J. Gallagher & Co. Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 19th. Stockholders of record on Friday, June 5th were issued a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date was Friday, June 5th. Arthur J. Gallagher & Co.’s dividend payout ratio (DPR) is currently 45.31%.

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.