44 Wealth Management LLC Takes $1 Million Position in Arthur J. Gallagher & Co. $AJG

44 Wealth Management LLC purchased a new position in Arthur J. Gallagher & Co. (NYSE:AJG) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 4,641 shares of the financial services provider’s stock, valued at approximately $1,005,000.

A number of other hedge funds have also added to or reduced their stakes in the stock. Jump Financial LLC bought a new position in shares of Arthur J. Gallagher & Co. during the second quarter valued at approximately $2,825,000. Qube Research & Technologies Ltd bought a new position in shares of Arthur J. Gallagher & Co. in the second quarter worth approximately $3,429,000. Treasurer of the State of North Carolina boosted its stake in Arthur J. Gallagher & Co. by 5.3% during the 2nd quarter. Treasurer of the State of North Carolina now owns 118,467 shares of the financial services provider’s stock valued at $37,924,000 after purchasing an additional 5,947 shares during the last quarter. Peapack Gladstone Financial Corp increased its holdings in Arthur J. Gallagher & Co. by 2,919.2% in the 2nd quarter. Peapack Gladstone Financial Corp now owns 19,987 shares of the financial services provider’s stock worth $6,398,000 after buying an additional 19,325 shares in the last quarter. Finally, Armistice Capital LLC purchased a new position in Arthur J. Gallagher & Co. in the 2nd quarter worth about $412,000. 85.53% of the stock is owned by hedge funds and other institutional investors.

Arthur J. Gallagher & Co. Stock Up 2.2%

NYSE AJG opened at $247.57 on Friday. Arthur J. Gallagher & Co. has a 12 month low of $190.75 and a 12 month high of $315.48. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 0.51. The stock has a market cap of $63.60 billion, a PE ratio of 40.06, a P/E/G ratio of 1.28 and a beta of 0.50. The stock’s 50 day moving average is $226.33 and its 200 day moving average is $225.22.

Arthur J. Gallagher & Co. (NYSE:AJG) last announced its quarterly earnings data on Thursday, April 30th. The financial services provider reported $4.47 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.43 by $0.04. Arthur J. Gallagher & Co. had a net margin of 10.76% and a return on equity of 12.83%. The business had revenue of $4.71 billion during the quarter, compared to analyst estimates of $4.73 billion. During the same period last year, the firm posted $3.67 EPS. The company’s revenue was up 29.0% on a year-over-year basis. Research analysts predict that Arthur J. Gallagher & Co. will post 13.22 EPS for the current fiscal year.

Arthur J. Gallagher & Co. Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 19th. Stockholders of record on Friday, June 5th were given a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date was Friday, June 5th. Arthur J. Gallagher & Co.’s dividend payout ratio is currently 45.31%.

Analysts Set New Price Targets

A number of brokerages recently weighed in on AJG. Wolfe Research downgraded shares of Arthur J. Gallagher & Co. from an “outperform” rating to a “peer perform” rating in a research report on Thursday, July 9th. Keefe, Bruyette & Woods raised their price target on Arthur J. Gallagher & Co. from $242.00 to $261.00 and gave the stock a “market perform” rating in a research note on Wednesday, July 8th. Morgan Stanley upped their price objective on Arthur J. Gallagher & Co. from $240.00 to $255.00 and gave the company an “overweight” rating in a research report on Monday, July 6th. Barclays raised their target price on Arthur J. Gallagher & Co. from $275.00 to $292.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 7th. Finally, Mizuho upped their target price on shares of Arthur J. Gallagher & Co. from $261.00 to $287.00 and gave the company an “outperform” rating in a report on Thursday, July 9th. Thirteen investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $280.35.

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

In related news, CAO Richard C. Cary sold 3,000 shares of the firm’s stock in a transaction on Tuesday, June 2nd. The shares were sold at an average price of $206.00, for a total value of $618,000.00. Following the completion of the transaction, the chief accounting officer directly owned 47,819 shares of the company’s stock, valued at approximately $9,850,714. This trade represents a 5.90% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 1.40% 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.