Prosperity Consulting Group LLC Sells 4,957 Shares of Arthur J. Gallagher & Co. $AJG

Prosperity Consulting Group LLC cut its stake in shares of Arthur J. Gallagher & Co. (NYSE:AJG) by 52.0% in the 1st quarter, Holdings Channel reports. The institutional investor owned 4,570 shares of the financial services provider’s stock after selling 4,957 shares during the quarter. Prosperity Consulting Group LLC’s holdings in Arthur J. Gallagher & Co. were worth $990,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Kemnay Advisory Services Inc. acquired a new position in Arthur J. Gallagher & Co. in the 4th quarter valued at approximately $26,000. Rakuten Securities Inc. boosted its stake in Arthur J. Gallagher & Co. by 650.0% in the 2nd 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. MV Capital Management Inc. purchased a new position in Arthur J. Gallagher & Co. during the fourth quarter valued at approximately $34,000. Prosperity Bancshares Inc purchased a new position in shares of Arthur J. Gallagher & Co. during the 4th quarter valued at $42,000. Finally, Thurston Springer Miller Herd & Titak Inc. grew its position in Arthur J. Gallagher & Co. by 668.2% during the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 169 shares of the financial services provider’s stock worth $44,000 after buying an additional 147 shares in the last quarter. Institutional investors and hedge funds own 85.53% of the company’s stock.

Analysts Set New Price Targets

AJG has been the topic of a number of research analyst reports. Wells Fargo & Company increased their price target on shares of Arthur J. Gallagher & Co. from $271.00 to $299.00 and gave the stock an “overweight” rating in a report on Thursday, July 9th. Mizuho lifted their price target on Arthur J. Gallagher & Co. from $261.00 to $287.00 and gave the stock an “outperform” rating in a research note on Thursday, July 9th. Wolfe Research lowered shares of Arthur J. Gallagher & Co. from an “outperform” rating to a “peer perform” rating in a report on Thursday, July 9th. Piper Sandler raised Arthur J. Gallagher & Co. from a “neutral” rating to an “overweight” rating and raised their price target for the stock from $225.00 to $276.00 in a research note on Wednesday. Finally, Morgan Stanley lifted their price objective on Arthur J. Gallagher & Co. from $240.00 to $255.00 and gave the company an “overweight” rating in a research report on Monday, July 6th. 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, Arthur J. Gallagher & Co. presently has a consensus rating of “Moderate Buy” and an average target price of $280.35.

Arthur J. Gallagher & Co. Stock Down 0.6%

NYSE:AJG opened at $254.36 on Friday. Arthur J. Gallagher & Co. has a fifty-two week low of $190.75 and a fifty-two week high of $316.71. The firm has a market cap of $65.35 billion, a P/E ratio of 41.16, a P/E/G ratio of 1.32 and a beta of 0.50. The firm has a 50-day simple moving average of $221.35 and a two-hundred day simple moving average of $225.67. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.06 and a current ratio of 1.06.

Arthur J. Gallagher & Co. (NYSE:AJG) last issued its earnings results on Thursday, April 30th. The financial services provider reported $4.47 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 for the quarter, compared to the consensus estimate of $4.73 billion. During the same period last year, the business posted $3.67 EPS. The company’s revenue was up 29.0% compared to the same quarter last year. Analysts predict that Arthur J. Gallagher & Co. will post 13.22 earnings per share for the current fiscal year.

Arthur J. Gallagher & Co. Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, June 19th. Shareholders of record on Friday, June 5th were given a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date of this dividend was Friday, June 5th. Arthur J. Gallagher & Co.’s payout ratio is 45.31%.

Insiders Place Their Bets

In other Arthur J. Gallagher & Co. news, CAO Richard C. Cary sold 3,000 shares of the stock in a transaction dated Tuesday, June 2nd. The stock was sold at an average price of $206.00, for a total value of $618,000.00. Following the transaction, the chief accounting officer owned 47,819 shares of the company’s stock, valued at approximately $9,850,714. This represents a 5.90% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 1.40% of the company’s stock.

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.