Assetmark Inc. Boosts Holdings in Arthur J. Gallagher & Co. $AJG

Assetmark Inc. increased its holdings in Arthur J. Gallagher & Co. (NYSE:AJG) by 80.6% in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 73,272 shares of the financial services provider’s stock after purchasing an additional 32,705 shares during the period. Assetmark Inc.’s holdings in Arthur J. Gallagher & Co. were worth $22,695,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the business. Physician Wealth Advisors Inc. boosted its holdings in Arthur J. Gallagher & Co. by 870.0% in 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 in the last quarter. Rakuten Securities Inc. lifted its position in shares of Arthur J. Gallagher & Co. by 650.0% in the 2nd 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 period. Westside Investment Management Inc. boosted its stake in shares of Arthur J. Gallagher & Co. by 100.0% during the 3rd quarter. Westside Investment Management Inc. now owns 136 shares of the financial services provider’s stock valued at $42,000 after purchasing an additional 68 shares in the last quarter. Central Pacific Bank Trust Division raised its stake in Arthur J. Gallagher & Co. by 40.6% in the third quarter. Central Pacific Bank Trust Division now owns 135 shares of the financial services provider’s stock worth $42,000 after buying an additional 39 shares in the last quarter. Finally, Salomon & Ludwin LLC purchased a new stake in Arthur J. Gallagher & Co. in the second quarter worth about $45,000. 85.53% of the stock is owned by institutional investors.

Insider Buying and Selling

In related 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 transaction, the chief financial officer directly 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Christopher E. Mead sold 4,000 shares of Arthur J. Gallagher & Co. stock in a transaction dated Tuesday, December 23rd. The shares were sold at an average price of $258.11, for a total value of $1,032,440.00. Following the transaction, the vice president directly owned 17,327 shares in the company, valued at approximately $4,472,271.97. The trade was a 18.76% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 32,100 shares of company stock valued at $8,243,865. Company insiders own 1.60% of the company’s stock.

Arthur J. Gallagher & Co. Trading Up 1.7%

Shares of AJG stock opened at $208.22 on Friday. The stock has a market capitalization of $53.47 billion, a P/E ratio of 33.86, a P/E/G ratio of 1.13 and a beta of 0.66. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 0.52. The firm’s 50 day moving average is $249.37 and its 200 day moving average is $270.69. Arthur J. Gallagher & Co. has a 12-month low of $195.00 and a 12-month high of $351.23.

Arthur J. Gallagher & Co. (NYSE:AJG) last released its quarterly earnings results 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. The firm had revenue of $3.57 billion for the quarter, compared to the consensus estimate of $3.61 billion. Arthur J. Gallagher & Co. had a return on equity of 12.13% and a net margin of 11.84%.The company’s revenue for the quarter was up 33.9% on a year-over-year basis. During the same period last year, the business posted $1.12 EPS. Research analysts expect that Arthur J. Gallagher & Co. will post 11.54 earnings per share for the current year.

Arthur J. Gallagher & Co. Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 20th. Shareholders of record on Friday, March 6th will be issued a dividend of $0.70 per share. This is an increase from Arthur J. Gallagher & Co.’s previous quarterly dividend of $0.65. This represents a $2.80 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date of this dividend is Friday, March 6th. Arthur J. Gallagher & Co.’s dividend payout ratio is currently 42.28%.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the company. Cantor Fitzgerald reiterated a “neutral” rating on shares of Arthur J. Gallagher & Co. in a report on Friday, January 30th. Wells Fargo & Company reduced their price target on Arthur J. Gallagher & Co. from $311.00 to $298.00 and set an “overweight” rating on the stock in a research note on Friday, January 30th. Truist Financial set a $271.00 price objective on Arthur J. Gallagher & Co. in a research report on Friday, January 30th. BMO Capital Markets downgraded shares of Arthur J. Gallagher & Co. from an “outperform” rating to a “market perform” rating and reduced their target price for the stock from $289.00 to $275.00 in a research report on Tuesday, January 13th. Finally, The Goldman Sachs Group reissued a “buy” rating and set a $292.00 price target on shares of Arthur J. Gallagher & Co. in a research report on Wednesday, January 7th. Six investment analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $284.12.

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.