Connecticut Wealth Management LLC Buys 2,968 Shares of Arthur J. Gallagher & Co. (NYSE:AJG)

Connecticut Wealth Management LLC grew its stake in shares of Arthur J. Gallagher & Co. (NYSE:AJG) by 235.6% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 4,228 shares of the financial services provider’s stock after acquiring an additional 2,968 shares during the quarter. Connecticut Wealth Management LLC’s holdings in Arthur J. Gallagher & Co. were worth $951,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Raymond James Financial Services Advisors Inc. increased its holdings in shares of Arthur J. Gallagher & Co. by 27.1% in the third quarter. Raymond James Financial Services Advisors Inc. now owns 103,676 shares of the financial services provider’s stock worth $23,631,000 after acquiring an additional 22,127 shares in the last quarter. Forsta AP Fonden raised its holdings in Arthur J. Gallagher & Co. by 10.6% during the 3rd quarter. Forsta AP Fonden now owns 45,000 shares of the financial services provider’s stock worth $10,257,000 after buying an additional 4,300 shares during the period. Kowal Investment Group LLC bought a new position in Arthur J. Gallagher & Co. in the third quarter valued at approximately $208,000. Lindbrook Capital LLC boosted its holdings in shares of Arthur J. Gallagher & Co. by 7.9% in the third quarter. Lindbrook Capital LLC now owns 654 shares of the financial services provider’s stock valued at $149,000 after buying an additional 48 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Arthur J. Gallagher & Co. by 6.5% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 36,860 shares of the financial services provider’s stock worth $8,402,000 after acquiring an additional 2,250 shares in the last quarter. Institutional investors own 85.53% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on AJG shares. Jefferies Financial Group lowered shares of Arthur J. Gallagher & Co. from a “buy” rating to a “hold” rating and reduced their target price for the stock from $279.00 to $233.00 in a research note on Tuesday, January 9th. Piper Sandler dropped their target price on Arthur J. Gallagher & Co. from $253.00 to $252.00 and set a “neutral” rating on the stock in a research report on Monday, April 29th. Keefe, Bruyette & Woods decreased their price target on shares of Arthur J. Gallagher & Co. from $246.00 to $240.00 and set an “underperform” rating for the company in a research note on Wednesday, April 10th. Truist Financial restated a “hold” rating and set a $255.00 price objective (down from $280.00) on shares of Arthur J. Gallagher & Co. in a research note on Wednesday, April 10th. Finally, TD Cowen upped their target price on Arthur J. Gallagher & Co. from $249.00 to $273.00 and gave the stock a “hold” rating in a report on Tuesday, April 2nd. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, Arthur J. Gallagher & Co. currently has an average rating of “Hold” and an average price target of $255.31.

Insiders Place Their Bets

In related news, Director David S. Johnson sold 500 shares of the business’s stock in a transaction on Tuesday, February 6th. The stock was sold at an average price of $234.04, for a total value of $117,020.00. Following the completion of the sale, the director now directly owns 45,038 shares in the company, valued at approximately $10,540,693.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Arthur J. Gallagher & Co. news, Director David S. Johnson sold 500 shares of Arthur J. Gallagher & Co. stock in a transaction dated 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 sale, the director now owns 45,038 shares in the company, valued at approximately $10,540,693.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Thomas Joseph Gallagher sold 12,309 shares of the stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $237.65, for a total transaction of $2,925,233.85. Following the transaction, the vice president now owns 322,797 shares in the company, valued at approximately $76,712,707.05. The disclosure for this sale can be found here. Insiders sold 29,016 shares of company stock worth $7,176,180 over the last three months. Insiders own 1.60% of the company’s stock.

Arthur J. Gallagher & Co. Stock Performance

Shares of AJG traded up $0.18 during mid-day trading on Friday, reaching $238.72. The company’s stock had a trading volume of 545,286 shares, compared to its average volume of 839,971. The company has a current ratio of 1.05, a quick ratio of 1.03 and a debt-to-equity ratio of 0.70. Arthur J. Gallagher & Co. has a 1-year low of $198.52 and a 1-year high of $256.10. The business has a 50-day simple moving average of $243.70 and a two-hundred day simple moving average of $239.06. The stock has a market cap of $52.16 billion, a P/E ratio of 48.32, a PEG ratio of 2.23 and a beta of 0.69.

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

Arthur J. Gallagher & Co. Dividend Announcement

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

Arthur J. Gallagher & Co. Profile

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.