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

Connecticut Wealth Management LLC increased its stake in shares of Arthur J. Gallagher & Co. (NYSE:AJG) by 235.6% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 4,228 shares of the financial services provider’s stock after purchasing an additional 2,968 shares during the period. Connecticut Wealth Management LLC’s holdings in Arthur J. Gallagher & Co. were worth $951,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of AJG. Beaird Harris Wealth Management LLC lifted its holdings in Arthur J. Gallagher & Co. by 175.6% in the 3rd quarter. Beaird Harris Wealth Management LLC now owns 113 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 72 shares in the last quarter. Annis Gardner Whiting Capital Advisors LLC acquired a new position in Arthur J. Gallagher & Co. during the third quarter worth about $28,000. SJS Investment Consulting Inc. grew its stake in 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 valued at $29,000 after acquiring an additional 106 shares in the last quarter. Ruedi Wealth Management Inc. acquired a new stake in Arthur J. Gallagher & Co. in the 4th quarter valued at about $33,000. Finally, Milestone Investment Advisors LLC purchased a new position in Arthur J. Gallagher & Co. in the 3rd quarter worth approximately $45,000. 85.53% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, Director David S. Johnson sold 500 shares of Arthur J. Gallagher & Co. stock in a transaction that occurred on Tuesday, February 6th. The shares were sold at an average price of $234.04, for a total value of $117,020.00. Following the completion of the transaction, the director now owns 45,038 shares in the company, valued at $10,540,693.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, VP Scott R. Hudson sold 15,000 shares of the company’s stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of $255.06, for a total value of $3,825,900.00. Following the completion of the transaction, the vice president now directly owns 96,709 shares of the company’s stock, valued at $24,666,597.54. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director David S. Johnson sold 500 shares of the firm’s stock in a transaction that occurred on Tuesday, February 6th. The stock was sold at an average price of $234.04, for a total transaction of $117,020.00. Following the sale, the director now directly owns 45,038 shares in the company, valued at approximately $10,540,693.52. The disclosure for this sale can be found here. Insiders have sold a total of 29,016 shares of company stock worth $7,176,180 in the last quarter. 1.60% of the stock is owned by company insiders.

Arthur J. Gallagher & Co. Trading Up 0.1 %

Arthur J. Gallagher & Co. stock traded up $0.18 during midday trading on Friday, reaching $238.72. 545,286 shares of the stock traded hands, compared to its average volume of 839,971. The firm has a market cap of $52.16 billion, a PE ratio of 48.32, a price-to-earnings-growth ratio of 2.23 and a beta of 0.69. The company has a current ratio of 1.05, a quick ratio of 1.03 and a debt-to-equity ratio of 0.70. The company has a 50-day simple moving average of $243.70 and a two-hundred day simple moving average of $239.06. Arthur J. Gallagher & Co. has a 12-month low of $198.52 and a 12-month high of $256.10.

Arthur J. Gallagher & Co. (NYSE:AJG) last announced its quarterly earnings data on Thursday, April 25th. The financial services provider reported $3.49 earnings per share for the quarter, beating analysts’ consensus estimates of $3.41 by $0.08. Arthur J. Gallagher & Co. had a net margin of 10.27% and a return on equity of 18.94%. The firm had revenue of $3.22 billion during the quarter, compared to analysts’ expectations of $3.18 billion. During the same quarter in the previous year, the business posted $3.03 earnings per share. The business’s quarterly revenue was up 20.4% compared to the same quarter last year. Research analysts expect that Arthur J. Gallagher & Co. will post 10.08 earnings per share for the current fiscal year.

Arthur J. Gallagher & Co. Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 21st. Investors of record on Friday, June 7th will be issued a $0.60 dividend. The ex-dividend date is Friday, June 7th. This represents a $2.40 dividend on an annualized basis and a yield of 1.01%. Arthur J. Gallagher & Co.’s dividend payout ratio (DPR) is presently 48.58%.

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. Royal Bank of Canada increased their price target on Arthur J. Gallagher & Co. from $270.00 to $282.00 and gave the company an “outperform” rating in a report on Friday, March 22nd. Jefferies Financial Group cut shares of Arthur J. Gallagher & Co. from a “buy” rating to a “hold” rating and lowered their price target for the company from $279.00 to $233.00 in a research report on Tuesday, January 9th. Keefe, Bruyette & Woods cut their price objective on shares of Arthur J. Gallagher & Co. from $246.00 to $240.00 and set an “underperform” rating for the company in a research report on Wednesday, April 10th. TD Cowen increased their price target on shares of Arthur J. Gallagher & Co. from $249.00 to $273.00 and gave the company a “hold” rating in a research note on Tuesday, April 2nd. Finally, Truist Financial reaffirmed a “hold” rating and set a $255.00 price target (down previously from $280.00) on shares of Arthur J. Gallagher & Co. 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 assigned a buy rating to the company’s stock. According to data from MarketBeat, Arthur J. Gallagher & Co. has an average rating of “Hold” and an average price target of $255.31.

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.