DAVENPORT & Co LLC Reduces Stock Position in Arthur J. Gallagher & Co. (NYSE:AJG)

DAVENPORT & Co LLC lowered its stake in shares of Arthur J. Gallagher & Co. (NYSE:AJGGet Rating) by 66.8% during the 1st quarter, HoldingsChannel reports. The fund owned 1,449 shares of the financial services provider’s stock after selling 2,922 shares during the period. DAVENPORT & Co LLC’s holdings in Arthur J. Gallagher & Co. were worth $253,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in the stock. Evoke Wealth LLC increased its holdings in shares of Arthur J. Gallagher & Co. by 394.7% in the fourth quarter. Evoke Wealth LLC now owns 188 shares of the financial services provider’s stock worth $32,000 after purchasing an additional 150 shares during the period. Riverview Trust Co bought a new position in shares of Arthur J. Gallagher & Co. in the first quarter worth $34,000. Ahrens Investment Partners LLC bought a new position in shares of Arthur J. Gallagher & Co. in the first quarter worth $37,000. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA bought a new position in shares of Arthur J. Gallagher & Co. in the fourth quarter worth $51,000. Finally, Covestor Ltd bought a new position in shares of Arthur J. Gallagher & Co. in the fourth quarter worth $52,000. Hedge funds and other institutional investors own 84.18% of the company’s stock.

Arthur J. Gallagher & Co. Stock Performance

NYSE AJG opened at $173.31 on Thursday. The company has a 50-day simple moving average of $161.76 and a two-hundred day simple moving average of $163.10. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.64. Arthur J. Gallagher & Co. has a 12-month low of $136.92 and a 12-month high of $187.02. The firm has a market cap of $36.41 billion, a price-to-earnings ratio of 38.17, a PEG ratio of 2.26 and a beta of 0.67.

Arthur J. Gallagher & Co. (NYSE:AJGGet Rating) last posted its earnings results on Thursday, April 28th. The financial services provider reported $2.81 earnings per share for the quarter, topping analysts’ consensus estimates of $2.77 by $0.04. The company had revenue of $2.40 billion during the quarter, compared to analyst estimates of $2.40 billion. Arthur J. Gallagher & Co. had a net margin of 11.41% and a return on equity of 15.45%. Arthur J. Gallagher & Co.’s revenue for the quarter was up 12.7% on a year-over-year basis. During the same period in the prior year, the business posted $2.02 earnings per share. On average, equities analysts forecast that Arthur J. Gallagher & Co. will post 7.75 EPS for the current year.

Insider Transactions at Arthur J. Gallagher & Co.

In other news, VP William F. Ziebell sold 29,434 shares of the stock in a transaction dated Thursday, June 16th. The shares were sold at an average price of $149.27, for a total transaction of $4,393,613.18. Following the completion of the sale, the vice president now directly owns 27,614 shares in the company, valued at $4,121,941.78. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, VP William F. Ziebell sold 29,434 shares of the stock in a transaction dated Thursday, June 16th. The shares were sold at an average price of $149.27, for a total transaction of $4,393,613.18. Following the completion of the sale, the vice president now directly owns 27,614 shares in the company, valued at $4,121,941.78. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Susan E. Pietrucha sold 4,966 shares of the stock in a transaction dated Tuesday, June 7th. The stock was sold at an average price of $162.04, for a total transaction of $804,690.64. Following the sale, the insider now owns 17,160 shares of the company’s stock, valued at $2,780,606.40. The disclosure for this sale can be found here. 1.40% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on AJG. UBS Group began coverage on shares of Arthur J. Gallagher & Co. in a report on Monday, April 18th. They issued a “neutral” rating and a $192.00 price target on the stock. Raymond James raised Arthur J. Gallagher & Co. from an “outperform” rating to a “strong-buy” rating and increased their target price for the company from $185.00 to $195.00 in a research note on Monday, May 2nd. Morgan Stanley reduced their target price on Arthur J. Gallagher & Co. from $171.00 to $162.00 and set an “equal weight” rating on the stock in a research note on Monday, May 23rd. Truist Financial increased their target price on Arthur J. Gallagher & Co. from $200.00 to $205.00 and gave the company a “buy” rating in a research note on Wednesday, April 6th. Finally, Wells Fargo & Company increased their target price on Arthur J. Gallagher & Co. from $193.00 to $209.00 and gave the company an “overweight” rating in a research note on Tuesday, April 12th. Four research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $188.60.

Arthur J. Gallagher & Co. Profile

(Get Rating)

Arthur J. Gallagher & Co, together with its subsidiaries, provides insurance brokerage, consulting, third-party claims settlement, and administration services in the United States, Australia, Bermuda, Canada, the Caribbean, New Zealand, India, and the United Kingdom. It operates through Brokerage and Risk Management segments.

See Also

Want to see what other hedge funds are holding AJG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Arthur J. Gallagher & Co. (NYSE:AJGGet Rating).

Institutional Ownership by Quarter for Arthur J. Gallagher & Co. (NYSE:AJG)

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