Legacy Capital Wealth Partners LLC Makes New Investment in Arthur J. Gallagher & Co. (NYSE:AJG)

Legacy Capital Wealth Partners LLC purchased a new stake in Arthur J. Gallagher & Co. (NYSE:AJG) during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 1,922 shares of the financial services provider’s stock, valued at approximately $498,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Gilbert & Cook Inc. lifted its stake in Arthur J. Gallagher & Co. by 5.0% in the 4th quarter. Gilbert & Cook Inc. now owns 5,398 shares of the financial services provider’s stock valued at $1,214,000 after acquiring an additional 259 shares in the last quarter. National Bank of Canada FI boosted its holdings in Arthur J. Gallagher & Co. by 3.2% during the fourth quarter. National Bank of Canada FI now owns 92,061 shares of the financial services provider’s stock worth $20,713,000 after purchasing an additional 2,821 shares during the last quarter. Spire Wealth Management grew its position in Arthur J. Gallagher & Co. by 51.8% in the fourth quarter. Spire Wealth Management now owns 1,781 shares of the financial services provider’s stock valued at $425,000 after purchasing an additional 608 shares in the last quarter. Private Advisor Group LLC increased its stake in Arthur J. Gallagher & Co. by 7.1% in the 4th quarter. Private Advisor Group LLC now owns 35,316 shares of the financial services provider’s stock valued at $7,942,000 after buying an additional 2,353 shares during the last quarter. Finally, Maryland State Retirement & Pension System lifted its position in Arthur J. Gallagher & Co. by 1.9% during the 4th quarter. Maryland State Retirement & Pension System now owns 16,478 shares of the financial services provider’s stock worth $3,706,000 after buying an additional 309 shares in the last quarter. 85.53% of the stock is owned by institutional investors and hedge funds.

Arthur J. Gallagher & Co. Stock Performance

NYSE:AJG opened at $294.49 on Wednesday. The stock has a 50 day simple moving average of $277.55 and a 200 day simple moving average of $258.36. The stock has a market cap of $64.35 billion, a P/E ratio of 59.61, a PEG ratio of 2.46 and a beta of 0.72. Arthur J. Gallagher & Co. has a 1-year low of $218.63 and a 1-year high of $296.10. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.67.

Arthur J. Gallagher & Co. (NYSE:AJG) last posted its earnings results on Thursday, July 25th. The financial services provider reported $2.26 earnings per share for the quarter, topping analysts’ consensus estimates of $2.24 by $0.02. Arthur J. Gallagher & Co. had a return on equity of 19.25% and a net margin of 10.41%. The company had revenue of $2.73 billion during the quarter, compared to the consensus estimate of $2.77 billion. During the same quarter last year, the firm earned $1.90 earnings per share. The company’s revenue was up 14.3% on a year-over-year basis. Research analysts anticipate that Arthur J. Gallagher & Co. will post 10.16 earnings per share for the current year.

Arthur J. Gallagher & Co. Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 20th. Shareholders of record on Friday, September 6th will be issued a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 0.81%. The ex-dividend date of this dividend is Friday, September 6th. Arthur J. Gallagher & Co.’s dividend payout ratio is currently 48.58%.

Analysts Set New Price Targets

AJG has been the subject of several analyst reports. Truist Financial raised their price objective on Arthur J. Gallagher & Co. from $255.00 to $265.00 and gave the company a “hold” rating in a report on Friday, July 26th. Piper Sandler upped their price objective on Arthur J. Gallagher & Co. from $252.00 to $254.00 and gave the stock a “neutral” rating in a research note on Friday, July 26th. TD Cowen raised their target price on shares of Arthur J. Gallagher & Co. from $273.00 to $288.00 and gave the company a “hold” rating in a research note on Tuesday, August 13th. Bank of America upped their price target on shares of Arthur J. Gallagher & Co. from $233.00 to $255.00 and gave the stock an “underperform” rating in a research report on Wednesday, May 22nd. Finally, Argus lifted their price objective on shares of Arthur J. Gallagher & Co. from $264.00 to $270.00 and gave the company a “buy” rating in a research report on Tuesday, May 14th. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $275.38.

Insider Transactions at Arthur J. Gallagher & Co.

In related news, General Counsel Walter D. Bay sold 8,303 shares of the business’s stock in a transaction that occurred on Tuesday, June 18th. The stock was sold at an average price of $262.74, for a total value of $2,181,530.22. Following the completion of the sale, the general counsel now directly owns 36,388 shares in the company, valued at $9,560,583.12. The sale was disclosed in a filing with the SEC, which is available at this link. In related news, VP Scott R. Hudson sold 10,000 shares of the company’s stock in a transaction dated Tuesday, June 18th. The shares were sold at an average price of $263.45, for a total transaction of $2,634,500.00. Following the completion of the sale, the vice president now owns 93,730 shares of the company’s stock, valued at $24,693,168.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, General Counsel Walter D. Bay sold 8,303 shares of the stock in a transaction dated Tuesday, June 18th. The stock was sold at an average price of $262.74, for a total transaction of $2,181,530.22. Following the sale, the general counsel now owns 36,388 shares in the company, valued at $9,560,583.12. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 48,348 shares of company stock valued at $13,342,910. 1.60% of the stock is currently owned by company insiders.

Arthur J. Gallagher & Co. Company 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.