Avantax Advisory Services Inc. Increases Holdings in Arthur J. Gallagher & Co. (NYSE:AJG)

Avantax Advisory Services Inc. increased its stake in shares of Arthur J. Gallagher & Co. (NYSE:AJG) by 1.6% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 14,706 shares of the financial services provider’s stock after purchasing an additional 228 shares during the period. Avantax Advisory Services Inc.’s holdings in Arthur J. Gallagher & Co. were worth $3,677,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Richardson Financial Services Inc. acquired a new position in shares of Arthur J. Gallagher & Co. during the 4th quarter worth approximately $27,000. SJS Investment Consulting Inc. raised its holdings in Arthur J. Gallagher & Co. by 460.9% in the 4th quarter. SJS Investment Consulting Inc. now owns 129 shares of the financial services provider’s stock valued at $29,000 after acquiring an additional 106 shares during the last quarter. Transcendent Capital Group LLC acquired a new position in Arthur J. Gallagher & Co. in the 4th quarter valued at $31,000. Ruedi Wealth Management Inc. acquired a new position in Arthur J. Gallagher & Co. in the 4th quarter valued at $33,000. Finally, Security National Bank acquired a new position in Arthur J. Gallagher & Co. in the 4th quarter valued at $33,000. 85.53% of the stock is currently owned by institutional investors and hedge funds.

Arthur J. Gallagher & Co. Stock Down 1.0 %

NYSE:AJG traded down $2.79 on Tuesday, reaching $267.67. The stock had a trading volume of 710,852 shares, compared to its average volume of 850,374. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.70. The company has a 50-day moving average of $257.27 and a 200 day moving average of $245.77. The stock has a market cap of $58.49 billion, a P/E ratio of 55.10, a price-to-earnings-growth ratio of 2.42 and a beta of 0.72. Arthur J. Gallagher & Co. has a 12-month low of $212.39 and a 12-month high of $274.97.

Arthur J. Gallagher & Co. (NYSE:AJG) last issued its earnings results on Thursday, April 25th. The financial services provider reported $3.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.41 by $0.08. The business had revenue of $3.22 billion for the quarter, compared to analyst estimates of $3.18 billion. Arthur J. Gallagher & Co. had a net margin of 10.27% and a return on equity of 18.94%. The company’s revenue for the quarter was up 20.4% on a year-over-year basis. During the same quarter in the prior year, the business posted $3.03 EPS. On average, research analysts predict that Arthur J. Gallagher & Co. will post 10.1 earnings per share for the current year.

Arthur J. Gallagher & Co. Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 21st. Stockholders of record on Friday, June 7th were paid a $0.60 dividend. The ex-dividend date was Friday, June 7th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 0.90%. Arthur J. Gallagher & Co.’s dividend payout ratio (DPR) is presently 48.58%.

Wall Street Analysts Forecast Growth

AJG has been the subject of several analyst reports. Bank of America boosted their price target on Arthur J. Gallagher & Co. from $233.00 to $255.00 and gave the company an “underperform” rating in a report on Wednesday, May 22nd. Wells Fargo & Company boosted their price objective on shares of Arthur J. Gallagher & Co. from $274.00 to $282.00 and gave the company an “overweight” rating in a research note on Wednesday, June 26th. Argus boosted 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 note on Tuesday, May 14th. Truist Financial reissued a “hold” rating and set a $255.00 price objective (down from $280.00) on shares of Arthur J. Gallagher & Co. in a research note on Wednesday, April 10th. Finally, Royal Bank of Canada upped their price target on shares of Arthur J. Gallagher & Co. from $282.00 to $290.00 and gave the stock an “outperform” rating in a research report on Wednesday, June 26th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, Arthur J. Gallagher & Co. currently has an average rating of “Hold” and a consensus target price of $263.00.

Insider Buying and Selling

In related news, CFO Douglas K. Howell sold 16,000 shares of the stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $248.41, for a total transaction of $3,974,560.00. Following the sale, the chief financial officer now owns 80,952 shares in the company, valued at $20,109,286.32. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, CAO Richard C. Cary sold 3,395 shares of the stock in a transaction that occurred on Thursday, May 16th. The shares were sold at an average price of $254.00, for a total value of $862,330.00. Following the completion of the transaction, the chief accounting officer now directly owns 38,314 shares in the company, valued at $9,731,756. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Douglas K. Howell sold 16,000 shares of the stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $248.41, for a total transaction of $3,974,560.00. Following the completion of the transaction, the chief financial officer now owns 80,952 shares of the company’s stock, valued at $20,109,286.32. The disclosure for this sale can be found here. Insiders have sold a total of 53,165 shares of company stock worth $13,629,049 over the last quarter. 1.60% of the stock is owned by company insiders.

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.