Axxcess Wealth Management LLC Has $1.43 Million Holdings in Arthur J. Gallagher & Co. $AJG

Axxcess Wealth Management LLC decreased its stake in shares of Arthur J. Gallagher & Co. (NYSE:AJG) by 33.8% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 4,610 shares of the financial services provider’s stock after selling 2,357 shares during the period. Axxcess Wealth Management LLC’s holdings in Arthur J. Gallagher & Co. were worth $1,428,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Stephens Inc. AR raised its position in shares of Arthur J. Gallagher & Co. by 3.8% in the second quarter. Stephens Inc. AR now owns 6,270 shares of the financial services provider’s stock valued at $2,007,000 after purchasing an additional 228 shares during the period. D.A. Davidson & CO. raised its holdings in Arthur J. Gallagher & Co. by 1.2% in the 2nd quarter. D.A. Davidson & CO. now owns 2,892 shares of the financial services provider’s stock worth $926,000 after acquiring an additional 35 shares during the period. Forum Financial Management LP lifted its position in Arthur J. Gallagher & Co. by 8.6% during the 2nd quarter. Forum Financial Management LP now owns 2,363 shares of the financial services provider’s stock worth $756,000 after acquiring an additional 188 shares during the last quarter. Principle Wealth Partners LLC bought a new stake in Arthur J. Gallagher & Co. during the second quarter valued at about $382,000. Finally, Asset Management One Co. Ltd. grew its position in shares of Arthur J. Gallagher & Co. by 3.5% in the second quarter. Asset Management One Co. Ltd. now owns 111,964 shares of the financial services provider’s stock valued at $35,842,000 after purchasing an additional 3,830 shares during the last quarter. 85.53% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the company. Citigroup boosted their price objective on Arthur J. Gallagher & Co. from $277.00 to $280.00 and gave the stock a “neutral” rating in a research report on Monday, February 2nd. Piper Sandler reduced their price objective on Arthur J. Gallagher & Co. from $272.00 to $249.00 and set a “neutral” rating for the company in a research report on Friday, January 30th. Weiss Ratings restated a “hold (c+)” rating on shares of Arthur J. Gallagher & Co. in a research note on Monday, December 29th. BMO Capital Markets cut shares of Arthur J. Gallagher & Co. from an “outperform” rating to a “market perform” rating and cut their target price for the company from $289.00 to $275.00 in a research note on Tuesday, January 13th. Finally, Mizuho set a $277.00 price target on shares of Arthur J. Gallagher & Co. in a report on Wednesday, January 14th. Six investment analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $284.12.

Arthur J. Gallagher & Co. Stock Performance

Shares of NYSE AJG opened at $216.54 on Friday. The firm has a market capitalization of $55.67 billion, a price-to-earnings ratio of 35.21, a PEG ratio of 1.18 and a beta of 0.66. Arthur J. Gallagher & Co. has a one year low of $195.00 and a one year high of $351.23. The business has a fifty day simple moving average of $246.39 and a 200 day simple moving average of $268.33. 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 announced its quarterly earnings results on Thursday, January 29th. The financial services provider reported $2.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.35 by $0.03. The firm had revenue of $3.57 billion for the quarter, compared to analyst estimates of $3.61 billion. Arthur J. Gallagher & Co. had a net margin of 11.84% and a return on equity of 12.13%. The business’s revenue for the quarter was up 33.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.12 EPS. Sell-side analysts expect that Arthur J. Gallagher & Co. will post 11.54 EPS for the current year.

Arthur J. Gallagher & Co. Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 20th. Investors of record on Friday, March 6th will be given a $0.70 dividend. This represents a $2.80 annualized dividend 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 of this dividend is Friday, March 6th. Arthur J. Gallagher & Co.’s dividend payout ratio (DPR) is currently 42.28%.

Insiders Place Their Bets

In other Arthur J. Gallagher & Co. news, CFO Douglas K. Howell sold 5,000 shares of Arthur J. Gallagher & Co. stock in a transaction that occurred 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 sale, the chief financial officer directly owned 95,777 shares of the company’s stock, 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 can be accessed through this link. Also, General Counsel Walter D. Bay sold 15,850 shares of the firm’s stock in a transaction that occurred 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 transaction, the general counsel owned 79,549 shares of the company’s stock, valued at $20,284,995. This trade represents a 16.61% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 24,850 shares of company stock worth $6,364,440 over the last quarter. Company insiders own 1.60% of the company’s stock.

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.