Drive Wealth Management LLC Boosts Holdings in Arthur J. Gallagher & Co. (NYSE:AJG)

Drive Wealth Management LLC increased its holdings in Arthur J. Gallagher & Co. (NYSE:AJG) by 4.0% during the first quarter, Holdings Channel reports. The firm owned 1,901 shares of the financial services provider’s stock after acquiring an additional 73 shares during the quarter. Drive Wealth Management LLC’s holdings in Arthur J. Gallagher & Co. were worth $475,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in AJG. Beaird Harris Wealth Management LLC raised its holdings in shares of Arthur J. Gallagher & Co. by 175.6% during the 3rd quarter. Beaird Harris Wealth Management LLC now owns 113 shares of the financial services provider’s stock worth $26,000 after acquiring an additional 72 shares in the last quarter. Richardson Financial Services Inc. purchased a new stake in shares of Arthur J. Gallagher & Co. during the 4th quarter worth approximately $27,000. Annis Gardner Whiting Capital Advisors LLC purchased a new stake in shares of Arthur J. Gallagher & Co. during the 3rd quarter worth approximately $28,000. SJS Investment Consulting Inc. raised its holdings in shares of Arthur J. Gallagher & Co. by 460.9% during the 4th quarter. SJS Investment Consulting Inc. now owns 129 shares of the financial services provider’s stock worth $29,000 after acquiring an additional 106 shares in the last quarter. Finally, Transcendent Capital Group LLC purchased a new stake in shares of Arthur J. Gallagher & Co. during the 4th quarter worth approximately $31,000. 85.53% of the stock is owned by hedge funds and other institutional investors.

Arthur J. Gallagher & Co. Stock Down 1.2 %

Arthur J. Gallagher & Co. stock traded down $2.84 during trading hours on Friday, reaching $234.11. The stock had a trading volume of 1,404,187 shares, compared to its average volume of 756,403. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.03 and a quick ratio of 1.03. The company has a market cap of $51.11 billion, a price-to-earnings ratio of 47.38, a PEG ratio of 2.23 and a beta of 0.68. The business’s 50 day moving average price is $244.23 and its 200-day moving average price is $238.93. Arthur J. Gallagher & Co. has a 52 week low of $198.52 and a 52 week high of $256.10.

Arthur J. Gallagher & Co. (NYSE:AJG) last posted its quarterly earnings data on Thursday, January 25th. The financial services provider reported $1.85 EPS for the quarter, topping the consensus estimate of $1.83 by $0.02. The firm had revenue of $2.39 billion during the quarter, compared to analyst estimates of $2.40 billion. Arthur J. Gallagher & Co. had a net margin of 10.27% and a return on equity of 19.27%. During the same quarter in the previous year, the business posted $1.54 EPS. Sell-side analysts anticipate that Arthur J. Gallagher & Co. will post 10.06 EPS for the current year.

Arthur J. Gallagher & Co. Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 21st. Shareholders of record on Friday, June 7th will be given a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 1.03%. The ex-dividend date of this dividend is Friday, June 7th. Arthur J. Gallagher & Co.’s dividend payout ratio is presently 48.58%.

Insiders Place Their Bets

In other news, VP Joel D. Cavaness sold 1,207 shares of the company’s stock in a transaction on Monday, March 18th. The shares were sold at an average price of $255.20, for a total value of $308,026.40. Following the sale, the vice president now directly owns 2,023 shares of the company’s stock, valued at approximately $516,269.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, VP Joel D. Cavaness sold 1,207 shares of the business’s stock in a transaction on Monday, March 18th. The shares were sold at an average price of $255.20, for a total value of $308,026.40. Following the completion of the transaction, the vice president now directly owns 2,023 shares in the company, valued at approximately $516,269.60. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director David S. Johnson sold 500 shares of the business’s stock in a transaction on Tuesday, February 6th. The shares were sold at an average price of $234.04, for a total transaction of $117,020.00. Following the completion of the transaction, the director now owns 45,038 shares of the company’s stock, valued at $10,540,693.52. The disclosure for this sale can be found here. In the last quarter, insiders have sold 29,016 shares of company stock valued at $7,176,180. Insiders own 1.60% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently issued reports on the company. TD Cowen upped their price objective on Arthur J. Gallagher & Co. from $249.00 to $273.00 and gave the stock a “hold” rating in a report on Tuesday, April 2nd. Royal Bank of Canada upped their price objective on Arthur J. Gallagher & Co. from $270.00 to $282.00 and gave the stock an “outperform” rating in a report on Friday, March 22nd. Truist Financial reissued a “hold” rating and set a $255.00 target price (down previously from $280.00) on shares of Arthur J. Gallagher & Co. in a research report on Wednesday, April 10th. Jefferies Financial Group downgraded Arthur J. Gallagher & Co. from a “buy” rating to a “hold” rating and cut their target price for the company from $279.00 to $233.00 in a research report on Tuesday, January 9th. Finally, Keefe, Bruyette & Woods cut their target price on Arthur J. Gallagher & Co. from $246.00 to $240.00 and set an “underperform” rating on the stock in a research report on Wednesday, April 10th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $255.23.

Arthur J. Gallagher & Co. Profile

Arthur J. Gallagher & Co, together with its subsidiaries, provides insurance and reinsurance brokerage, consulting, and third-party property/casualty claims settlement and administration services to entities and individuals worldwide. It operates in Brokerage and Risk Management segments. The Brokerage segment offers retail and wholesale insurance and reinsurance brokerage services; assists retail brokers and other non-affiliated brokers in the placement of specialized and hard-to-place insurance; and acts as a brokerage wholesaler, managing general agent, and managing general underwriter for distributing specialized insurance coverages to underwriting enterprises.