Prosperity Consulting Group LLC Raises Stock Position in Arthur J. Gallagher & Co. (NYSE:AJG)

Prosperity Consulting Group LLC lifted its position in shares of Arthur J. Gallagher & Co. (NYSE:AJG) by 6.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,393 shares of the financial services provider’s stock after acquiring an additional 440 shares during the quarter. Prosperity Consulting Group LLC’s holdings in Arthur J. Gallagher & Co. were worth $1,917,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Richardson Financial Services Inc. purchased a new stake in shares of Arthur J. Gallagher & Co. in the 4th quarter worth about $27,000. Creekmur Asset Management LLC acquired a new position in Arthur J. Gallagher & Co. during the first quarter worth about $27,000. DiNuzzo Private Wealth Inc. grew its position in shares of Arthur J. Gallagher & Co. by 89.7% in the second quarter. DiNuzzo Private Wealth Inc. now owns 110 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 52 shares during the last quarter. Y.D. More Investments Ltd acquired a new stake in shares of Arthur J. Gallagher & Co. in the second quarter valued at approximately $30,000. Finally, Transcendent Capital Group LLC acquired a new position in shares of Arthur J. Gallagher & Co. during the 4th quarter worth approximately $31,000. Institutional investors and hedge funds own 85.53% of the company’s stock.

Insider Transactions at Arthur J. Gallagher & Co.

In other news, VP Scott R. Hudson sold 10,000 shares of the stock in a transaction dated Tuesday, June 18th. The stock was sold at an average price of $263.45, for a total value of $2,634,500.00. Following the completion of the sale, the vice president now owns 93,730 shares in the company, valued at $24,693,168.50. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other news, President Michael Robert Pesch sold 7,100 shares of the stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $296.20, for a total value of $2,103,020.00. Following the completion of the sale, the president now owns 33,267 shares in the company, valued at $9,853,685.40. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Scott R. Hudson sold 10,000 shares of the stock in a transaction dated Tuesday, June 18th. The shares were sold at an average price of $263.45, for a total value 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 approximately $24,693,168.50. The disclosure for this sale can be found here. Insiders have sold a total of 55,448 shares of company stock worth $15,445,930 in the last three months. 1.60% of the stock is currently owned by company insiders.

Arthur J. Gallagher & Co. Stock Performance

NYSE AJG opened at $297.39 on Friday. The business’s 50-day moving average price is $283.34 and its 200 day moving average price is $261.15. The company has a market capitalization of $65.16 billion, a PE ratio of 60.20, a price-to-earnings-growth ratio of 2.47 and a beta of 0.72. 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. has a twelve month low of $218.63 and a twelve month high of $300.66.

Arthur J. Gallagher & Co. (NYSE:AJG) last released its quarterly earnings data on Thursday, July 25th. The financial services provider reported $2.26 EPS for the quarter, topping analysts’ consensus estimates of $2.24 by $0.02. The company had revenue of $2.73 billion for the quarter, compared to the consensus estimate of $2.77 billion. Arthur J. Gallagher & Co. had a return on equity of 19.25% and a net margin of 10.41%. The company’s quarterly revenue was up 14.3% compared to the same quarter last year. During the same period last year, the business posted $1.90 EPS. On average, research analysts predict that Arthur J. Gallagher & Co. will post 10.16 earnings per share for the current year.

Arthur J. Gallagher & Co. Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of brokerages have commented on AJG. TD Cowen increased their target price on Arthur J. Gallagher & Co. from $273.00 to $288.00 and gave the company a “hold” rating in a report on Tuesday, August 13th. Bank of America boosted their target price on shares of Arthur J. Gallagher & Co. from $233.00 to $255.00 and gave the company an “underperform” rating in a research note on Wednesday, May 22nd. Barclays started coverage on shares of Arthur J. Gallagher & Co. in a research note on Wednesday, September 4th. They set an “equal weight” rating and a $300.00 price target on the stock. Truist Financial boosted their price objective on shares of Arthur J. Gallagher & Co. from $255.00 to $265.00 and gave the company a “hold” rating in a research report on Friday, July 26th. Finally, BMO Capital Markets lifted their target price on shares of Arthur J. Gallagher & Co. from $275.00 to $295.00 and gave the stock an “outperform” rating in a research note on Friday, July 26th. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $276.82.

About Arthur J. Gallagher & Co.

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.