Geneos Wealth Management Inc. Increases Holdings in Arthur J. Gallagher & Co. $AJG

Geneos Wealth Management Inc. boosted its position in Arthur J. Gallagher & Co. (NYSE:AJG) by 29.3% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 54,525 shares of the financial services provider’s stock after buying an additional 12,352 shares during the quarter. Geneos Wealth Management Inc.’s holdings in Arthur J. Gallagher & Co. were worth $17,454,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in the business. HighTower Advisors LLC raised its position in Arthur J. Gallagher & Co. by 0.9% in the 1st quarter. HighTower Advisors LLC now owns 57,383 shares of the financial services provider’s stock worth $19,811,000 after purchasing an additional 531 shares during the period. Dimensional Fund Advisors LP grew its stake in shares of Arthur J. Gallagher & Co. by 1.0% during the first quarter. Dimensional Fund Advisors LP now owns 736,167 shares of the financial services provider’s stock valued at $254,121,000 after buying an additional 7,257 shares during the last quarter. Aberdeen Group plc increased its holdings in shares of Arthur J. Gallagher & Co. by 117.8% in the first quarter. Aberdeen Group plc now owns 134,585 shares of the financial services provider’s stock worth $46,206,000 after buying an additional 72,804 shares during the period. American Century Companies Inc. lifted its stake in shares of Arthur J. Gallagher & Co. by 1,449.1% in the 1st quarter. American Century Companies Inc. now owns 295,181 shares of the financial services provider’s stock valued at $101,908,000 after acquiring an additional 276,126 shares during the last quarter. Finally, State of New Jersey Common Pension Fund D boosted its holdings in Arthur J. Gallagher & Co. by 3.6% during the 1st quarter. State of New Jersey Common Pension Fund D now owns 83,968 shares of the financial services provider’s stock valued at $28,989,000 after acquiring an additional 2,941 shares during the period. 85.53% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Arthur J. Gallagher & Co.

In other Arthur J. Gallagher & Co. news, CFO Douglas K. Howell sold 8,000 shares of the company’s stock in a transaction dated Monday, September 22nd. The shares were sold at an average price of $299.54, for a total value of $2,396,320.00. Following the transaction, the chief financial officer directly owned 100,777 shares in the company, valued at $30,186,742.58. This represents a 7.35% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Richard C. Cary sold 6,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 18th. The stock was sold at an average price of $261.00, for a total transaction of $1,566,000.00. Following the transaction, the chief accounting officer directly owned 50,668 shares in the company, valued at approximately $13,224,348. This trade represents a 10.59% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 21,250 shares of company stock valued at $6,071,365 in the last quarter. Corporate insiders own 1.60% of the company’s stock.

Arthur J. Gallagher & Co. Trading Up 3.2%

AJG opened at $255.47 on Friday. The firm has a market cap of $65.60 billion, a P/E ratio of 38.19 and a beta of 0.69. Arthur J. Gallagher & Co. has a 12 month low of $236.34 and a 12 month high of $351.23. The stock has a 50-day moving average of $263.57 and a 200 day moving average of $292.47. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 0.52.

Arthur J. Gallagher & Co. (NYSE:AJG) last posted its quarterly earnings data on Thursday, October 30th. The financial services provider reported $2.32 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.51 by ($0.19). Arthur J. Gallagher & Co. had a net margin of 13.58% and a return on equity of 11.98%. The business had revenue of $3.33 billion for the quarter, compared to analysts’ expectations of $3.34 billion. During the same quarter in the previous year, the firm earned $2.26 EPS. Arthur J. Gallagher & Co.’s revenue was up 20.2% compared to the same quarter last year. As a group, research analysts forecast that Arthur J. Gallagher & Co. will post 11.54 EPS for the current year.

Arthur J. Gallagher & Co. Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 19th. Investors of record on Friday, December 5th will be issued a dividend of $0.65 per share. The ex-dividend date is Friday, December 5th. This represents a $2.60 dividend on an annualized basis and a yield of 1.0%. Arthur J. Gallagher & Co.’s dividend payout ratio (DPR) is presently 38.86%.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on AJG. Piper Sandler dropped their price objective on Arthur J. Gallagher & Co. from $340.00 to $295.00 and set an “overweight” rating for the company in a research note on Friday, October 31st. Citigroup reduced their target price on Arthur J. Gallagher & Co. from $330.00 to $277.00 and set a “neutral” rating on the stock in a report on Monday, November 3rd. Wolfe Research assumed coverage on shares of Arthur J. Gallagher & Co. in a research note on Thursday, November 20th. They set an “outperform” rating and a $291.00 price objective on the stock. The Goldman Sachs Group dropped their price target on shares of Arthur J. Gallagher & Co. from $361.00 to $315.00 and set a “buy” rating on the stock in a research note on Friday, October 31st. Finally, Wall Street Zen cut Arthur J. Gallagher & Co. from a “hold” rating to a “sell” rating in a research note on Saturday, November 1st. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, eight have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $314.87.

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.