Boston Family Office LLC Invests $368,000 in Arthur J. Gallagher & Co. $AJG

Boston Family Office LLC bought a new position in Arthur J. Gallagher & Co. (NYSE:AJG) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 1,150 shares of the financial services provider’s stock, valued at approximately $368,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. SeaCrest Wealth Management LLC lifted its stake in Arthur J. Gallagher & Co. by 2.3% during the second quarter. SeaCrest Wealth Management LLC now owns 1,542 shares of the financial services provider’s stock valued at $494,000 after buying an additional 34 shares in the last quarter. Ashton Thomas Private Wealth LLC raised its holdings in shares of Arthur J. Gallagher & Co. by 1.3% during the first quarter. Ashton Thomas Private Wealth LLC now owns 2,746 shares of the financial services provider’s stock valued at $948,000 after acquiring an additional 35 shares during the period. Contravisory Investment Management Inc. lifted its position in shares of Arthur J. Gallagher & Co. by 0.6% in the 2nd quarter. Contravisory Investment Management Inc. now owns 5,501 shares of the financial services provider’s stock valued at $1,761,000 after acquiring an additional 35 shares in the last quarter. Tritonpoint Wealth LLC boosted its stake in Arthur J. Gallagher & Co. by 1.1% in the 2nd quarter. Tritonpoint Wealth LLC now owns 3,222 shares of the financial services provider’s stock worth $1,032,000 after purchasing an additional 35 shares during the period. Finally, D.A. Davidson & CO. grew its position in Arthur J. Gallagher & Co. by 1.2% during the 2nd quarter. D.A. Davidson & CO. now owns 2,892 shares of the financial services provider’s stock worth $926,000 after purchasing an additional 35 shares in the last quarter. Institutional investors and hedge funds own 85.53% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on AJG. Keefe, Bruyette & Woods decreased their target price on Arthur J. Gallagher & Co. from $315.00 to $275.00 and set a “market perform” rating for the company in a research report on Friday, October 31st. Piper Sandler decreased their price objective on Arthur J. Gallagher & Co. from $340.00 to $295.00 and set an “overweight” rating for the company in a research report on Friday, October 31st. Wall Street Zen downgraded Arthur J. Gallagher & Co. from a “hold” rating to a “sell” rating in a report on Saturday, November 1st. Cowen restated a “buy” rating on shares of Arthur J. Gallagher & Co. in a report on Friday, October 31st. Finally, Weiss Ratings downgraded shares of Arthur J. Gallagher & Co. from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Tuesday, November 25th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, eight have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Arthur J. Gallagher & Co. presently has an average rating of “Moderate Buy” and an average target price of $316.33.

Arthur J. Gallagher & Co. Stock Down 0.5%

Shares of Arthur J. Gallagher & Co. stock opened at $246.32 on Tuesday. The firm has a market cap of $63.26 billion, a price-to-earnings ratio of 34.99 and a beta of 0.71. The stock has a 50-day simple moving average of $274.78 and a 200-day simple moving average of $298.21. Arthur J. Gallagher & Co. has a 52-week low of $239.47 and a 52-week high of $351.23. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.36 and a quick ratio of 1.36.

Arthur J. Gallagher & Co. (NYSE:AJG) last released its quarterly earnings data on Thursday, October 30th. The financial services provider reported $2.32 EPS for the quarter, missing analysts’ consensus estimates of $2.51 by ($0.19). The firm had revenue of $3.33 billion during the quarter, compared to analyst estimates of $3.34 billion. Arthur J. Gallagher & Co. had a return on equity of 13.17% and a net margin of 14.54%.The company’s quarterly revenue was up 20.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.26 EPS. On average, equities research analysts expect that Arthur J. Gallagher & Co. will post 11.54 earnings per share for the current fiscal year.

Arthur J. Gallagher & Co. Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 19th. Stockholders of record on Friday, December 5th will be issued a dividend of $0.65 per share. The ex-dividend date is Friday, December 5th. This represents a $2.60 dividend on an annualized basis and a dividend yield of 1.1%. Arthur J. Gallagher & Co.’s dividend payout ratio (DPR) is currently 38.86%.

Insiders Place Their Bets

In related news, CAO Richard C. Cary sold 6,000 shares of the company’s stock in a transaction on Tuesday, November 18th. The shares were sold at an average price of $261.00, for a total value of $1,566,000.00. Following the completion of the sale, the chief accounting officer directly owned 50,668 shares in the company, valued at approximately $13,224,348. This represents a 10.59% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, VP Christopher E. Mead sold 1,250 shares of the firm’s stock in a transaction dated Friday, November 21st. The shares were sold at an average price of $250.74, for a total value of $313,425.00. Following the transaction, the vice president owned 17,327 shares in the company, valued at approximately $4,344,571.98. This trade represents a 6.73% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 37,105 shares of company stock worth $10,796,353 in the last 90 days. 1.60% of the stock is owned by corporate insiders.

Arthur J. Gallagher & Co. Company Profile

Arthur J. Gallagher & Co engages in the provision of insurance brokerage, reinsurance brokerage, consulting, and third-party claims settlement and administration services. It operates through the following segments: Brokerage, Risk Management, and Corporate. The Brokerage segment consists of retail and wholesale insurance brokerage operations.