Boston Family Office LLC Buys Shares of 1,150 Arthur J. Gallagher & Co. $AJG

Boston Family Office LLC purchased a new position in Arthur J. Gallagher & Co. (NYSE:AJG) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 1,150 shares of the financial services provider’s stock, valued at approximately $368,000.

A number of other institutional investors have also modified their holdings of the business. SeaCrest Wealth Management LLC lifted its holdings in Arthur J. Gallagher & Co. by 2.3% in the second quarter. SeaCrest Wealth Management LLC now owns 1,542 shares of the financial services provider’s stock worth $494,000 after acquiring an additional 34 shares during the last quarter. Ashton Thomas Private Wealth LLC lifted its holdings in shares of Arthur J. Gallagher & Co. by 1.3% in the 1st quarter. Ashton Thomas Private Wealth LLC now owns 2,746 shares of the financial services provider’s stock worth $948,000 after purchasing an additional 35 shares during the last quarter. Contravisory Investment Management Inc. boosted its position in Arthur J. Gallagher & Co. by 0.6% during the 2nd quarter. Contravisory Investment Management Inc. now owns 5,501 shares of the financial services provider’s stock valued at $1,761,000 after purchasing an additional 35 shares during the period. Tritonpoint Wealth LLC grew its stake in Arthur J. Gallagher & Co. by 1.1% during the 2nd quarter. Tritonpoint Wealth LLC now owns 3,222 shares of the financial services provider’s stock worth $1,032,000 after buying an additional 35 shares during the last quarter. Finally, D.A. Davidson & CO. increased its position in Arthur J. Gallagher & Co. by 1.2% in the second quarter. D.A. Davidson & CO. now owns 2,892 shares of the financial services provider’s stock worth $926,000 after buying an additional 35 shares during the period. Institutional investors own 85.53% of the company’s stock.

Insiders Place Their Bets

In other Arthur J. Gallagher & Co. news, VP Scott R. Hudson sold 12,855 shares of the business’s stock in a transaction dated Monday, September 8th. The shares were sold at an average price of $297.60, for a total value of $3,825,648.00. Following the sale, the vice president directly owned 85,920 shares in the company, valued at approximately $25,569,792. The trade was a 13.01% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Richard C. Cary sold 6,000 shares of the firm’s stock in a transaction dated Tuesday, November 18th. The shares were sold at an average price of $261.00, for a total transaction of $1,566,000.00. Following the transaction, the chief accounting officer owned 50,668 shares of the company’s stock, valued at approximately $13,224,348. This trade represents a 10.59% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 37,105 shares of company stock valued at $10,796,353. 1.60% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on AJG. Piper Sandler reduced their price target on shares of Arthur J. Gallagher & Co. from $340.00 to $295.00 and set an “overweight” rating for the company in a report on Friday, October 31st. Wells Fargo & Company boosted their target price on shares of 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. Evercore ISI dropped their price target on shares of Arthur J. Gallagher & Co. from $370.00 to $353.00 and set an “outperform” rating on the stock in a research note on Friday, October 31st. Keefe, Bruyette & Woods reduced their price objective on Arthur J. Gallagher & Co. from $315.00 to $275.00 and set a “market perform” rating for the company in a research report on Friday, October 31st. Finally, The Goldman Sachs Group decreased their price objective on Arthur J. Gallagher & Co. from $361.00 to $315.00 and set a “buy” rating for the company in a report on Friday, October 31st. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $316.33.

Arthur J. Gallagher & Co. Trading Down 0.5%

Shares of NYSE:AJG opened at $246.32 on Tuesday. The company has a 50 day moving average of $274.78 and a 200-day moving average of $298.21. The company has a current ratio of 1.36, a quick ratio of 1.36 and a debt-to-equity ratio of 0.52. The firm has a market cap of $63.26 billion, a P/E ratio of 34.99 and a beta of 0.71. Arthur J. Gallagher & Co. has a twelve month low of $239.47 and a twelve month high of $351.23.

Arthur J. Gallagher & Co. (NYSE:AJG) last posted its quarterly earnings data on Thursday, October 30th. The financial services provider reported $2.32 EPS for the quarter, missing analysts’ consensus estimates of $2.51 by ($0.19). The company had revenue of $3.33 billion for the quarter, compared to analyst estimates of $3.34 billion. Arthur J. Gallagher & Co. had a net margin of 14.54% and a return on equity of 13.17%. Arthur J. Gallagher & Co.’s revenue was up 20.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.26 EPS. As a group, analysts anticipate that Arthur J. Gallagher & Co. will post 11.54 earnings per share for the current fiscal year.

Arthur J. Gallagher & Co. Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 19th. Stockholders of record on Friday, December 5th will be paid a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date of this dividend is Friday, December 5th. Arthur J. Gallagher & Co.’s payout ratio is currently 38.86%.

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.