Forte Capital LLC ADV Purchases 44 Shares of Arthur J. Gallagher & Co. (NYSE:AJG)

Forte Capital LLC ADV increased its position in Arthur J. Gallagher & Co. (NYSE:AJG) by 1.9% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 2,395 shares of the financial services provider’s stock after buying an additional 44 shares during the quarter. Forte Capital LLC ADV’s holdings in Arthur J. Gallagher & Co. were worth $539,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in AJG. FMR LLC raised its stake in Arthur J. Gallagher & Co. by 8.1% during the 3rd quarter. FMR LLC now owns 9,664,117 shares of the financial services provider’s stock valued at $2,202,742,000 after purchasing an additional 726,485 shares during the period. Morgan Stanley lifted its holdings in shares of Arthur J. Gallagher & Co. by 0.6% in the third quarter. Morgan Stanley now owns 6,209,557 shares of the financial services provider’s stock worth $1,415,345,000 after buying an additional 34,999 shares in the last quarter. JPMorgan Chase & Co. boosted its position in shares of Arthur J. Gallagher & Co. by 1.9% during the third quarter. JPMorgan Chase & Co. now owns 5,000,975 shares of the financial services provider’s stock worth $1,139,872,000 after acquiring an additional 90,842 shares during the last quarter. WCM Investment Management LLC grew its stake in Arthur J. Gallagher & Co. by 0.5% during the fourth quarter. WCM Investment Management LLC now owns 2,610,081 shares of the financial services provider’s stock valued at $583,249,000 after acquiring an additional 13,208 shares in the last quarter. Finally, Invesco Ltd. lifted its stake in Arthur J. Gallagher & Co. by 3.6% in the 3rd quarter. Invesco Ltd. now owns 2,572,182 shares of the financial services provider’s stock worth $586,277,000 after purchasing an additional 88,861 shares in the last quarter. 85.53% of the stock is currently owned by hedge funds and other institutional investors.

Arthur J. Gallagher & Co. Trading Up 0.1 %

NYSE:AJG traded up $0.18 during midday trading on Friday, hitting $238.72. The stock had a trading volume of 545,286 shares, compared to its average volume of 839,971. The stock has a 50-day moving average of $243.83 and a 200 day moving average of $239.00. The company has a market capitalization of $52.16 billion, a price-to-earnings ratio of 48.30, a PEG ratio of 2.23 and a beta of 0.69. Arthur J. Gallagher & Co. has a one year low of $198.52 and a one year high of $256.10. The company has a quick ratio of 1.03, a current ratio of 1.05 and a debt-to-equity ratio of 0.70.

Arthur J. Gallagher & Co. (NYSE:AJG) last announced its quarterly earnings results on Thursday, April 25th. The financial services provider reported $3.49 EPS for the quarter, beating the consensus estimate of $3.41 by $0.08. Arthur J. Gallagher & Co. had a return on equity of 18.94% and a net margin of 10.27%. The firm had revenue of $3.22 billion for the quarter, compared to analyst estimates of $3.18 billion. During the same quarter last year, the firm posted $3.03 earnings per share. The business’s revenue for the quarter was up 20.4% on a year-over-year basis. As a group, sell-side analysts forecast that Arthur J. Gallagher & Co. will post 10.08 EPS for the current year.

Arthur J. Gallagher & Co. Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 21st. Investors of record on Friday, June 7th will be issued a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 1.01%. The ex-dividend date is Friday, June 7th. Arthur J. Gallagher & Co.’s payout ratio is 48.58%.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. Royal Bank of Canada raised their price target on Arthur J. Gallagher & Co. from $270.00 to $282.00 and gave the company an “outperform” rating in a report on Friday, March 22nd. Jefferies Financial Group cut shares of Arthur J. Gallagher & Co. from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $279.00 to $233.00 in a research note on Tuesday, January 9th. Keefe, Bruyette & Woods decreased their target price on shares of Arthur J. Gallagher & Co. from $246.00 to $240.00 and set an “underperform” rating on the stock in a research report on Wednesday, April 10th. TD Cowen lifted their price target on Arthur J. Gallagher & Co. from $249.00 to $273.00 and gave the stock a “hold” rating in a research report on Tuesday, April 2nd. Finally, Piper Sandler lowered their price objective on Arthur J. Gallagher & Co. from $253.00 to $252.00 and set a “neutral” rating for the company in a research note on Monday, April 29th. One analyst has rated the stock with a sell rating, six have given a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $255.31.

Insider Buying and Selling

In related news, Director David S. Johnson sold 500 shares of the firm’s stock in a transaction dated Tuesday, February 6th. The stock was sold at an average price of $234.04, for a total transaction of $117,020.00. Following the sale, the director now owns 45,038 shares of the company’s stock, valued at $10,540,693.52. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other news, VP Joel D. Cavaness sold 1,207 shares of Arthur J. Gallagher & Co. stock in a transaction on Monday, March 18th. The shares were sold at an average price of $255.20, for a total transaction of $308,026.40. Following the completion of the sale, the vice president now directly owns 2,023 shares in the company, valued at $516,269.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director David S. Johnson sold 500 shares of the company’s stock in a transaction on Tuesday, February 6th. The shares were sold at an average price of $234.04, for a total value of $117,020.00. Following the completion of the transaction, the director now directly owns 45,038 shares in the company, valued at $10,540,693.52. The disclosure for this sale can be found here. Insiders sold 29,016 shares of company stock valued at $7,176,180 over the last 90 days. Corporate insiders own 1.60% of the company’s stock.

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.