AlTi Global Inc. Purchases Shares of 2,362 Arthur J. Gallagher & Co. $AJG

AlTi Global Inc. acquired a new position in Arthur J. Gallagher & Co. (NYSE:AJG) in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 2,362 shares of the financial services provider’s stock, valued at approximately $732,000.

A number of other large investors also recently modified their holdings of the company. Physician Wealth Advisors Inc. grew its position in Arthur J. Gallagher & Co. by 870.0% during the third quarter. Physician Wealth Advisors Inc. now owns 97 shares of the financial services provider’s stock valued at $30,000 after acquiring an additional 87 shares during the last quarter. J.Safra Asset Management Corp raised its position in Arthur J. Gallagher & Co. by 209.1% in the 2nd quarter. J.Safra Asset Management Corp now owns 102 shares of the financial services provider’s stock worth $32,000 after purchasing an additional 69 shares during the period. Rakuten Securities Inc. lifted its stake in Arthur J. Gallagher & Co. by 650.0% in the second quarter. Rakuten Securities Inc. now owns 105 shares of the financial services provider’s stock worth $34,000 after purchasing an additional 91 shares during the last quarter. Central Pacific Bank Trust Division grew its stake in shares of Arthur J. Gallagher & Co. by 40.6% during the third quarter. Central Pacific Bank Trust Division now owns 135 shares of the financial services provider’s stock valued at $42,000 after buying an additional 39 shares during the last quarter. Finally, Westside Investment Management Inc. increased its holdings in shares of Arthur J. Gallagher & Co. by 100.0% in the third quarter. Westside Investment Management Inc. now owns 136 shares of the financial services provider’s stock worth $42,000 after buying an additional 68 shares during the period. 85.53% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on AJG. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Arthur J. Gallagher & Co. in a research note on Monday, December 29th. Wall Street Zen downgraded shares of Arthur J. Gallagher & Co. from a “hold” rating to a “sell” rating in a research note on Saturday, November 1st. Cantor Fitzgerald reissued a “neutral” rating on shares of Arthur J. Gallagher & Co. in a research report on Friday, January 30th. Mizuho set a $277.00 price objective on shares of Arthur J. Gallagher & Co. in a research report on Wednesday, January 14th. Finally, Needham & Company LLC set a $272.00 target price on shares of Arthur J. Gallagher & Co. in a report on Thursday, December 18th. Six analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Arthur J. Gallagher & Co. presently has an average rating of “Hold” and a consensus price target of $284.12.

Arthur J. Gallagher & Co. Trading Down 2.5%

AJG opened at $212.41 on Wednesday. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.52. Arthur J. Gallagher & Co. has a 52 week low of $210.01 and a 52 week high of $351.23. The stock has a market cap of $54.55 billion, a PE ratio of 34.54, a PEG ratio of 1.18 and a beta of 0.66. The business has a 50 day moving average of $251.62 and a 200-day moving average of $272.45.

Arthur J. Gallagher & Co. (NYSE:AJG) last posted its quarterly earnings data on Thursday, January 29th. The financial services provider reported $2.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.35 by $0.03. Arthur J. Gallagher & Co. had a return on equity of 12.13% and a net margin of 11.84%.The business had revenue of $3.57 billion during the quarter, compared to the consensus estimate of $3.61 billion. During the same quarter in the prior year, the company earned $1.12 earnings per share. The firm’s quarterly revenue was up 33.9% compared to the same quarter last year. Equities research analysts predict that Arthur J. Gallagher & Co. will post 11.54 earnings per share for the current fiscal year.

Arthur J. Gallagher & Co. Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 20th. Shareholders of record on Friday, March 6th will be issued a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 1.3%. This is a boost from Arthur J. Gallagher & Co.’s previous quarterly dividend of $0.65. The ex-dividend date is Friday, March 6th. Arthur J. Gallagher & Co.’s dividend payout ratio is currently 45.53%.

Insider Buying and Selling at Arthur J. Gallagher & Co.

In other Arthur J. Gallagher & Co. news, CFO Douglas K. Howell sold 5,000 shares of Arthur J. Gallagher & Co. stock in a transaction on Monday, December 22nd. The stock was sold at an average price of $258.05, for a total transaction of $1,290,250.00. Following the completion of the transaction, the chief financial officer owned 95,777 shares in the company, valued at approximately $24,715,254.85. The trade was a 4.96% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, General Counsel Walter D. Bay sold 15,850 shares of the stock in a transaction on Friday, December 19th. The stock was 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 directly owned 79,549 shares in the company, valued at approximately $20,284,995. This represents a 16.61% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 32,100 shares of company stock worth $8,243,865 over the last three months. Company insiders own 1.30% of the company’s stock.

Arthur J. Gallagher & Co. Company Profile

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.