NewEdge Wealth LLC Grows Stock Position in Arthur J. Gallagher & Co. (NYSE:AJG)

NewEdge Wealth LLC raised its stake in shares of Arthur J. Gallagher & Co. (NYSE:AJG) by 3.2% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 13,462 shares of the financial services provider’s stock after buying an additional 416 shares during the period. NewEdge Wealth LLC’s holdings in Arthur J. Gallagher & Co. were worth $3,821,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Catalina Capital Group LLC increased its stake in shares of Arthur J. Gallagher & Co. by 1.0% in the 4th quarter. Catalina Capital Group LLC now owns 3,380 shares of the financial services provider’s stock valued at $959,000 after purchasing an additional 35 shares in the last quarter. W Advisors LLC increased its stake in shares of Arthur J. Gallagher & Co. by 2.4% in the 3rd quarter. W Advisors LLC now owns 1,514 shares of the financial services provider’s stock valued at $426,000 after purchasing an additional 36 shares in the last quarter. Greenleaf Trust increased its stake in shares of Arthur J. Gallagher & Co. by 1.1% in the 4th quarter. Greenleaf Trust now owns 3,310 shares of the financial services provider’s stock valued at $940,000 after purchasing an additional 36 shares in the last quarter. Disciplined Investments LLC increased its stake in shares of Arthur J. Gallagher & Co. by 0.7% in the 3rd quarter. Disciplined Investments LLC now owns 5,849 shares of the financial services provider’s stock valued at $1,635,000 after purchasing an additional 38 shares in the last quarter. Finally, Seelaus Asset Management LLC increased its stake in shares of Arthur J. Gallagher & Co. by 0.7% in the 3rd quarter. Seelaus Asset Management LLC now owns 5,481 shares of the financial services provider’s stock valued at $1,542,000 after purchasing an additional 38 shares in the last quarter. Hedge funds and other institutional investors own 85.53% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on AJG shares. TD Cowen upgraded Arthur J. Gallagher & Co. from a “hold” rating to a “buy” rating and lifted their price target for the company from $295.00 to $377.00 in a research note on Friday, January 10th. Keefe, Bruyette & Woods boosted their price objective on Arthur J. Gallagher & Co. from $286.00 to $295.00 and gave the stock a “market perform” rating in a research note on Friday, January 31st. Wells Fargo & Company cut their price objective on Arthur J. Gallagher & Co. from $344.00 to $341.00 and set an “overweight” rating for the company in a research note on Friday, January 31st. Truist Financial boosted their price objective on Arthur J. Gallagher & Co. from $275.00 to $290.00 and gave the stock a “hold” rating in a research note on Friday, January 31st. Finally, Royal Bank of Canada boosted their price objective on Arthur J. Gallagher & Co. from $320.00 to $340.00 and gave the stock an “outperform” rating in a research note on Friday, January 31st. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $307.00.

Arthur J. Gallagher & Co. Trading Up 1.3 %

Shares of Arthur J. Gallagher & Co. stock opened at $337.61 on Friday. The stock has a market cap of $85.99 billion, a P/E ratio of 51.78 and a beta of 0.77. The stock’s 50 day simple moving average is $302.93 and its 200-day simple moving average is $295.05. Arthur J. Gallagher & Co. has a 1-year low of $230.08 and a 1-year high of $338.43. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.51 and a quick ratio of 1.51.

Arthur J. Gallagher & Co. (NYSE:AJG) last released its quarterly earnings data on Thursday, January 30th. The financial services provider reported $2.13 EPS for the quarter, beating analysts’ consensus estimates of $2.03 by $0.10. Arthur J. Gallagher & Co. had a return on equity of 16.47% and a net margin of 12.70%. Analysts predict that Arthur J. Gallagher & Co. will post 11.54 EPS for the current fiscal year.

Arthur J. Gallagher & Co. Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 21st. Investors of record on Friday, March 7th will be issued a $0.65 dividend. The ex-dividend date of this dividend is Friday, March 7th. This is a boost from Arthur J. Gallagher & Co.’s previous quarterly dividend of $0.60. This represents a $2.60 dividend on an annualized basis and a yield of 0.77%. Arthur J. Gallagher & Co.’s dividend payout ratio is currently 39.88%.

Insider Activity at Arthur J. Gallagher & Co.

In other Arthur J. Gallagher & Co. news, VP Christopher E. Mead sold 2,900 shares of the business’s stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $302.61, for a total value of $877,569.00. Following the sale, the vice president now owns 14,674 shares of the company’s stock, valued at $4,440,499.14. The trade was a 16.50 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO Richard C. Cary sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $322.99, for a total value of $3,229,900.00. Following the completion of the sale, the chief accounting officer now directly owns 69,774 shares in the company, valued at approximately $22,536,304.26. The trade was a 12.54 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 15,725 shares of company stock worth $4,972,964. Insiders own 1.60% of the company’s stock.

About Arthur J. Gallagher & Co.

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 business segments: Brokerage, Risk Management, and Corporate. The Brokerage segment consists of retail and wholesale insurance brokerage operations.