31,855 Shares in Arthur J. Gallagher & Co. $AJG Purchased by Gerber Kawasaki Wealth & Investment Management

Gerber Kawasaki Wealth & Investment Management acquired a new position in Arthur J. Gallagher & Co. (NYSE:AJG) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 31,855 shares of the financial services provider’s stock, valued at approximately $8,244,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Rakuten Securities Inc. increased its position in Arthur J. Gallagher & Co. by 650.0% in the second quarter. Rakuten Securities Inc. now owns 105 shares of the financial services provider’s stock worth $34,000 after purchasing an additional 91 shares during the period. Financial Life Planners acquired a new stake in Arthur J. Gallagher & Co. in the third quarter worth about $39,000. Thurston Springer Miller Herd & Titak Inc. increased its position in Arthur J. Gallagher & Co. by 668.2% in the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 169 shares of the financial services provider’s stock worth $44,000 after purchasing an additional 147 shares during the period. CVA Family Office LLC increased its position in Arthur J. Gallagher & Co. by 84.8% in the fourth quarter. CVA Family Office LLC now owns 183 shares of the financial services provider’s stock worth $47,000 after purchasing an additional 84 shares during the period. Finally, Entrust Financial LLC acquired a new stake in Arthur J. Gallagher & Co. in the fourth quarter worth about $51,000. 85.53% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

AJG has been the subject of several analyst reports. Jefferies Financial Group upgraded Arthur J. Gallagher & Co. from a “hold” rating to a “buy” rating and boosted their target price for the stock from $235.00 to $265.00 in a research report on Thursday. Royal Bank Of Canada assumed coverage on Arthur J. Gallagher & Co. in a research note on Tuesday, March 17th. They issued an “outperform” rating and a $260.00 price target for the company. Morgan Stanley lowered their price target on Arthur J. Gallagher & Co. from $265.00 to $240.00 and set an “overweight” rating for the company in a research note on Thursday, May 21st. Citigroup raised Arthur J. Gallagher & Co. from a “neutral” rating to a “buy” rating and lowered their price target for the company from $280.00 to $250.00 in a research note on Wednesday, May 6th. Finally, Piper Sandler lowered their price target on Arthur J. Gallagher & Co. from $226.00 to $211.00 and set a “neutral” rating for the company in a research note on Friday, May 1st. Thirteen research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat.com, Arthur J. Gallagher & Co. currently has a consensus rating of “Moderate Buy” and a consensus price target of $263.71.

Insider Activity

In related news, CAO Richard C. Cary sold 3,000 shares of the business’s stock in a transaction that occurred on Tuesday, June 2nd. The stock was sold at an average price of $206.00, for a total value of $618,000.00. Following the completion of the transaction, the chief accounting officer directly owned 47,819 shares in the company, valued at approximately $9,850,714. The trade was a 5.90% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 1.40% of the company’s stock.

Arthur J. Gallagher & Co. Stock Performance

Shares of AJG stock opened at $218.53 on Friday. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.06 and a quick ratio of 1.06. The stock has a 50-day moving average of $210.97 and a 200-day moving average of $228.06. Arthur J. Gallagher & Co. has a one year low of $190.75 and a one year high of $327.34. The stock has a market cap of $56.14 billion, a PE ratio of 35.36, a price-to-earnings-growth ratio of 1.12 and a beta of 0.52.

Arthur J. Gallagher & Co. (NYSE:AJG) last issued its quarterly earnings data on Thursday, April 30th. The financial services provider reported $4.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.43 by $0.04. Arthur J. Gallagher & Co. had a return on equity of 12.83% and a net margin of 10.76%.The business had revenue of $4.71 billion during the quarter, compared to analyst estimates of $4.73 billion. During the same period in the previous year, the firm earned $3.67 EPS. Arthur J. Gallagher & Co.’s quarterly revenue was up 29.0% compared to the same quarter last year. As a group, sell-side analysts expect that Arthur J. Gallagher & Co. will post 13.27 earnings per share for the current year.

Arthur J. Gallagher & Co. Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 19th. Investors of record on Friday, June 5th will be given a $0.70 dividend. The ex-dividend date is Friday, June 5th. This represents a $2.80 annualized dividend and a dividend yield of 1.3%. Arthur J. Gallagher & Co.’s payout ratio is currently 45.31%.

About Arthur J. Gallagher & Co.

Arthur J. Gallagher & Co is a global insurance brokerage and risk management firm headquartered in Rolling Meadows, Illinois. Founded in 1927 by Arthur J. Gallagher, the company has grown from a regional broker into an international professional services organization that arranges insurance, provides consulting and designs risk-transfer solutions for commercial, industrial, public sector and individual clients.

The company’s core activities include property and casualty insurance brokerage, employee benefits consulting and administration, and a range of risk management services.