NorthRock Partners LLC Has $728,000 Stake in Arthur J. Gallagher & Co. $AJG

NorthRock Partners LLC lifted its position in shares of Arthur J. Gallagher & Co. (NYSE:AJG) by 10.0% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,275 shares of the financial services provider’s stock after purchasing an additional 206 shares during the quarter. NorthRock Partners LLC’s holdings in Arthur J. Gallagher & Co. were worth $728,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of AJG. Dynamic Advisor Solutions LLC raised its position in shares of Arthur J. Gallagher & Co. by 3.0% during the first quarter. Dynamic Advisor Solutions LLC now owns 1,614 shares of the financial services provider’s stock worth $557,000 after purchasing an additional 47 shares during the period. Mission Wealth Management LP raised its position in shares of Arthur J. Gallagher & Co. by 2.9% during the first quarter. Mission Wealth Management LP now owns 1,659 shares of the financial services provider’s stock worth $573,000 after purchasing an additional 46 shares during the period. Janney Montgomery Scott LLC raised its position in shares of Arthur J. Gallagher & Co. by 5.7% during the first quarter. Janney Montgomery Scott LLC now owns 31,772 shares of the financial services provider’s stock worth $10,969,000 after purchasing an additional 1,727 shares during the period. Sowell Financial Services LLC acquired a new position in shares of Arthur J. Gallagher & Co. during the first quarter worth approximately $618,000. Finally, Sagespring Wealth Partners LLC raised its position in Arthur J. Gallagher & Co. by 22.7% in the 1st quarter. Sagespring Wealth Partners LLC now owns 1,431 shares of the financial services provider’s stock valued at $494,000 after buying an additional 265 shares during 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 $303.60 on Wednesday. The business’s 50-day moving average price is $299.73 and its two-hundred day moving average price is $315.08. Arthur J. Gallagher & Co. has a twelve month low of $275.56 and a twelve month high of $351.23. The stock has a market cap of $77.84 billion, a P/E ratio of 43.12 and a beta of 0.73. The company has a quick ratio of 1.36, a current ratio of 1.36 and a debt-to-equity ratio of 0.52.

Arthur J. Gallagher & Co. (NYSE:AJG) last released its quarterly earnings results on Thursday, July 31st. The financial services provider reported $2.33 earnings per share for the quarter, missing the consensus estimate of $2.36 by ($0.03). Arthur J. Gallagher & Co. had a net margin of 14.54% and a return on equity of 13.17%. The business had revenue of $3.18 billion during the quarter, compared to analysts’ expectations of $3.20 billion. During the same period in the previous year, the business earned $2.29 EPS. The business’s revenue was up 16.0% on a year-over-year basis. As a group, equities analysts predict that Arthur J. Gallagher & Co. will post 11.54 EPS for the current fiscal year.

Arthur J. Gallagher & Co. Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 19th. Investors of record on Friday, September 5th were issued a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date of this dividend was Friday, September 5th. Arthur J. Gallagher & Co.’s dividend payout ratio (DPR) is currently 36.93%.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on AJG shares. Piper Sandler lowered their price target on Arthur J. Gallagher & Co. from $352.00 to $340.00 and set an “overweight” rating for the company in a research report on Thursday, October 2nd. Wells Fargo & Company upped their price objective on Arthur J. Gallagher & Co. from $365.00 to $366.00 and gave the company an “overweight” rating in a research note on Wednesday, October 8th. Barclays cut their price target on Arthur J. Gallagher & Co. from $346.00 to $327.00 and set an “equal weight” rating for the company in a research note on Monday, July 7th. Keefe, Bruyette & Woods raised their target price on Arthur J. Gallagher & Co. from $288.00 to $298.00 and gave the stock a “market perform” rating in a research note on Friday, September 19th. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of Arthur J. Gallagher & Co. in a research note on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and eight have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $331.43.

Insider Transactions at Arthur J. Gallagher & Co.

In related news, VP Scott R. Hudson sold 12,855 shares of the firm’s stock in a transaction dated Monday, September 8th. The stock was sold at an average price of $297.60, for a total transaction of $3,825,648.00. Following the transaction, the vice president directly owned 85,920 shares of the company’s stock, valued at approximately $25,569,792. This trade represents a 13.01% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Douglas K. Howell sold 8,000 shares of the firm’s stock in a transaction dated Monday, September 22nd. The shares were sold at an average price of $299.54, for a total value of $2,396,320.00. Following the transaction, the chief financial officer directly owned 100,777 shares in the company, valued at approximately $30,186,742.58. This represents a 7.35% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 29,855 shares of company stock worth $8,916,928. 1.30% of the stock is currently owned by insiders.

Arthur J. Gallagher & Co. Profile

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