Arthur J. Gallagher & Co. (NYSE:AJG) Shares Bought by Procyon Advisors LLC

Procyon Advisors LLC increased its stake in Arthur J. Gallagher & Co. (NYSE:AJG) by 38.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,154 shares of the financial services provider’s stock after acquiring an additional 881 shares during the period. Procyon Advisors LLC’s holdings in Arthur J. Gallagher & Co. were worth $895,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in AJG. Dimensional Fund Advisors LP lifted its holdings in shares of Arthur J. Gallagher & Co. by 10.7% in the second quarter. Dimensional Fund Advisors LP now owns 673,456 shares of the financial services provider’s stock valued at $174,640,000 after buying an additional 64,864 shares during the period. Brighton Jones LLC bought a new stake in Arthur J. Gallagher & Co. in the second quarter worth about $210,000. Ieq Capital LLC grew its stake in shares of Arthur J. Gallagher & Co. by 6.3% in the 2nd quarter. Ieq Capital LLC now owns 31,192 shares of the financial services provider’s stock worth $8,088,000 after purchasing an additional 1,847 shares during the last quarter. Canada Pension Plan Investment Board grew its stake in shares of Arthur J. Gallagher & Co. by 3.2% in the 2nd quarter. Canada Pension Plan Investment Board now owns 63,539 shares of the financial services provider’s stock worth $16,476,000 after purchasing an additional 1,972 shares during the last quarter. Finally, AE Wealth Management LLC grew its position in Arthur J. Gallagher & Co. by 439.7% in the second quarter. AE Wealth Management LLC now owns 9,100 shares of the financial services provider’s stock worth $2,360,000 after buying an additional 7,414 shares during the last quarter. 85.53% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on AJG. The Goldman Sachs Group downgraded shares of Arthur J. Gallagher & Co. from a “buy” rating to a “neutral” rating and set a $313.00 price target for the company. in a research report on Monday, November 25th. Keefe, Bruyette & Woods upgraded shares of Arthur J. Gallagher & Co. from an “underperform” rating to a “market perform” rating and cut their target price for the stock from $292.00 to $286.00 in a research report on Friday, January 10th. Piper Sandler raised Arthur J. Gallagher & Co. from a “neutral” rating to an “overweight” rating and lifted their price objective for the company from $285.00 to $315.00 in a research report on Wednesday, January 8th. TD Cowen raised Arthur J. Gallagher & Co. from a “hold” rating to a “buy” rating and upped their target price for the stock from $295.00 to $377.00 in a research report on Friday, January 10th. Finally, Jefferies Financial Group lifted their price target on Arthur J. Gallagher & Co. from $269.00 to $274.00 and gave the company a “hold” rating in a report on Wednesday, October 9th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $304.07.

Insider Transactions at Arthur J. Gallagher & Co.

In related news, VP Christopher E. Mead sold 2,800 shares of the business’s stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $287.00, for a total transaction of $803,600.00. Following the transaction, the vice president now directly owns 14,674 shares in the company, valued at $4,211,438. The trade was a 16.02 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Douglas K. Howell sold 7,000 shares of the firm’s stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $284.70, for a total value of $1,992,900.00. Following the completion of the sale, the chief financial officer now owns 75,963 shares of the company’s stock, valued at $21,626,666.10. This represents a 8.44 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.60% of the company’s stock.

Arthur J. Gallagher & Co. Stock Down 0.2 %

AJG stock opened at $295.22 on Friday. The stock has a market capitalization of $73.75 billion, a price-to-earnings ratio of 56.23 and a beta of 0.76. The company has a 50-day moving average of $291.99 and a two-hundred day moving average of $286.85. Arthur J. Gallagher & Co. has a 52-week low of $227.08 and a 52-week high of $316.72. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.06 and a quick ratio of 1.06.

Arthur J. Gallagher & Co. (NYSE:AJG) last released its earnings results on Thursday, October 24th. The financial services provider reported $2.26 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $2.26. Arthur J. Gallagher & Co. had a return on equity of 19.12% and a net margin of 10.40%. The firm had revenue of $2.77 billion for the quarter, compared to analyst estimates of $2.78 billion. During the same quarter last year, the firm posted $2.00 EPS. The company’s revenue was up 12.8% on a year-over-year basis. As a group, equities research analysts anticipate that Arthur J. Gallagher & Co. will post 10.06 EPS for the current year.

Arthur J. Gallagher & Co. Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, December 20th. Shareholders of record on Friday, December 6th were issued a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 0.81%. The ex-dividend date was Friday, December 6th. Arthur J. Gallagher & Co.’s dividend payout ratio (DPR) is presently 45.71%.

About Arthur J. Gallagher & Co.

Arthur J. Gallagher & Co, together with its subsidiaries, provides insurance and reinsurance brokerage, consulting, and third-party property/casualty claims settlement and administration services to entities and individuals worldwide. It operates in Brokerage and Risk Management segments. The Brokerage segment offers retail and wholesale insurance and reinsurance brokerage services; assists retail brokers and other non-affiliated brokers in the placement of specialized and hard-to-place insurance; and acts as a brokerage wholesaler, managing general agent, and managing general underwriter for distributing specialized insurance coverages to underwriting enterprises.