Chico Wealth RIA Buys Shares of 2,789 Arthur J. Gallagher & Co. $AJG

Chico Wealth RIA purchased a new stake in shares of Arthur J. Gallagher & Co. (NYSE:AJG) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 2,789 shares of the financial services provider’s stock, valued at approximately $864,000. Arthur J. Gallagher & Co. accounts for about 0.6% of Chico Wealth RIA’s investment portfolio, making the stock its 13th biggest position.

Several other institutional investors and hedge funds have also added to or reduced their stakes in AJG. AlphaQuest LLC acquired a new stake in Arthur J. Gallagher & Co. during the 1st quarter worth about $33,000. Axiom Investors LLC DE lifted its stake in shares of Arthur J. Gallagher & Co. by 34.9% in the first quarter. Axiom Investors LLC DE now owns 781,227 shares of the financial services provider’s stock worth $269,711,000 after buying an additional 201,900 shares during the last quarter. MAI Capital Management grew its position in shares of Arthur J. Gallagher & Co. by 0.9% in the first quarter. MAI Capital Management now owns 4,927 shares of the financial services provider’s stock valued at $1,701,000 after purchasing an additional 44 shares during the last quarter. Focus Partners Advisor Solutions LLC increased its position in Arthur J. Gallagher & Co. by 58.6% in the 1st quarter. Focus Partners Advisor Solutions LLC now owns 1,134 shares of the financial services provider’s stock worth $392,000 after buying an additional 419 shares during the period. Finally, EP Wealth Advisors LLC raised its position in shares of Arthur J. Gallagher & Co. by 5.8% during the first quarter. EP Wealth Advisors LLC now owns 2,071 shares of the financial services provider’s stock valued at $715,000 after buying an additional 114 shares during the last quarter. 85.53% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Arthur J. Gallagher & Co.

In other Arthur J. Gallagher & Co. news, VP Michael Robert Pesch bought 4,000 shares of the stock in a transaction dated Monday, November 3rd. The shares were bought at an average cost of $247.12 per share, with a total value of $988,480.00. Following the completion of the acquisition, the vice president owned 41,849 shares of the company’s stock, valued at $10,341,724.88. This trade represents a 10.57% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Also, General Counsel Walter D. Bay sold 15,850 shares of the business’s stock in a transaction that occurred on Friday, December 19th. The shares were sold at an average price of $255.00, for a total value of $4,041,750.00. Following the completion of the sale, the general counsel owned 79,549 shares of the company’s stock, valued at approximately $20,284,995. This trade represents a 16.61% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 32,100 shares of company stock valued at $8,243,865. 1.60% of the stock is currently owned by company insiders.

Arthur J. Gallagher & Co. Trading Down 1.0%

Shares of NYSE:AJG opened at $259.09 on Thursday. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.52. The business has a 50 day moving average of $253.97 and a 200-day moving average of $285.84. Arthur J. Gallagher & Co. has a 12-month low of $236.34 and a 12-month high of $351.23. The stock has a market cap of $66.53 billion, a PE ratio of 38.73 and a beta of 0.69.

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

Arthur J. Gallagher & Co. Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, December 19th. Shareholders of record on Friday, December 5th were given a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date was Friday, December 5th. Arthur J. Gallagher & Co.’s dividend payout ratio is presently 38.86%.

Wall Street Analysts Forecast Growth

AJG has been the subject of a number of analyst reports. Cowen reissued a “buy” rating on shares of Arthur J. Gallagher & Co. in a report on Friday, October 31st. Morgan Stanley set a $300.00 target price on shares of Arthur J. Gallagher & Co. in a research report on Friday, December 19th. Citigroup reduced their price target on shares of Arthur J. Gallagher & Co. from $330.00 to $277.00 and set a “neutral” rating on the stock in a research report on Monday, November 3rd. Barclays cut shares of Arthur J. Gallagher & Co. from an “equal weight” rating to an “underweight” rating and reduced their price target for the company from $328.00 to $250.00 in a report on Thursday, November 20th. Finally, Wells Fargo & Company cut their target price on Arthur J. Gallagher & Co. from $344.00 to $328.00 and set an “overweight” rating on the stock in a research note on Monday, December 22nd. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $302.22.

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.