SteelPeak Wealth LLC Has $386,000 Stock Position in Arthur J. Gallagher & Co. (NYSE:AJG)

SteelPeak Wealth LLC lifted its stake in Arthur J. Gallagher & Co. (NYSE:AJG) by 23.9% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,373 shares of the financial services provider’s stock after acquiring an additional 265 shares during the period. SteelPeak Wealth LLC’s holdings in Arthur J. Gallagher & Co. were worth $386,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Norden Group LLC acquired a new stake in Arthur J. Gallagher & Co. during the first quarter worth $3,841,000. First Trust Direct Indexing L.P. boosted its stake in Arthur J. Gallagher & Co. by 12.8% during the first quarter. First Trust Direct Indexing L.P. now owns 4,849 shares of the financial services provider’s stock worth $1,212,000 after buying an additional 550 shares in the last quarter. J.W. Cole Advisors Inc. boosted its stake in Arthur J. Gallagher & Co. by 4.7% during the first quarter. J.W. Cole Advisors Inc. now owns 983 shares of the financial services provider’s stock worth $246,000 after buying an additional 44 shares in the last quarter. Mission Wealth Management LP lifted its holdings in shares of Arthur J. Gallagher & Co. by 5.8% during the first quarter. Mission Wealth Management LP now owns 1,487 shares of the financial services provider’s stock valued at $372,000 after acquiring an additional 82 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Arthur J. Gallagher & Co. by 41.7% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 54,340 shares of the financial services provider’s stock valued at $13,587,000 after acquiring an additional 15,993 shares during the period. Institutional investors and hedge funds own 85.53% of the company’s stock.

Arthur J. Gallagher & Co. Price Performance

Shares of AJG opened at $281.19 on Friday. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.04 and a current ratio of 1.04. The stock has a 50 day simple moving average of $288.84 and a 200 day simple moving average of $270.41. Arthur J. Gallagher & Co. has a 52-week low of $218.63 and a 52-week high of $301.04. The firm has a market capitalization of $61.61 billion, a PE ratio of 53.56, a P/E/G ratio of 2.53 and a beta of 0.72.

Arthur J. Gallagher & Co. (NYSE:AJG) last released its earnings results on Thursday, October 24th. The financial services provider reported $2.26 EPS for the quarter, meeting the consensus estimate of $2.26. The firm had revenue of $2.77 billion for the quarter, compared to analysts’ expectations of $2.78 billion. Arthur J. Gallagher & Co. had a return on equity of 19.25% and a net margin of 10.41%. The business’s quarterly revenue was up 12.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.00 EPS. Sell-side analysts predict that Arthur J. Gallagher & Co. will post 10.11 EPS for the current fiscal year.

Arthur J. Gallagher & Co. Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Friday, December 6th will be paid a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 0.85%. The ex-dividend date of this dividend is Friday, December 6th. Arthur J. Gallagher & Co.’s dividend payout ratio is currently 45.71%.

Wall Street Analyst Weigh In

AJG has been the subject of a number of analyst reports. Jefferies Financial Group lifted their price objective 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. Piper Sandler lifted their price target on Arthur J. Gallagher & Co. from $254.00 to $293.00 and gave the company a “neutral” rating in a report on Friday, September 20th. BMO Capital Markets lifted their price target on Arthur J. Gallagher & Co. from $275.00 to $295.00 and gave the company an “outperform” rating in a report on Friday, July 26th. Bank Of America (Bofa) boosted their price objective on Arthur J. Gallagher & Co. from $255.00 to $265.00 and gave the stock an “underperform” rating in a report on Friday, July 26th. Finally, Wells Fargo & Company boosted their price objective on Arthur J. Gallagher & Co. from $309.00 to $315.00 and gave the stock an “overweight” rating in a report on Thursday, October 10th. Three analysts have rated the stock with a sell rating, seven have issued a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $287.00.

Insider Transactions at Arthur J. Gallagher & Co.

In related news, VP Christopher E. Mead sold 2,800 shares of the stock in a transaction on Monday, October 28th. The stock was sold at an average price of $287.00, for a total value of $803,600.00. Following the sale, the vice president now owns 14,674 shares in the company, valued at approximately $4,211,438. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, President Thomas Joseph Gallagher sold 15,000 shares of the stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $282.96, for a total transaction of $4,244,400.00. Following the sale, the president now directly owns 329,099 shares of the company’s stock, valued at approximately $93,121,853.04. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Christopher E. Mead sold 2,800 shares of the stock in a transaction on Monday, October 28th. The stock was sold at an average price of $287.00, for a total value of $803,600.00. Following the sale, the vice president now directly owns 14,674 shares in the company, valued at approximately $4,211,438. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 38,900 shares of company stock worth $11,136,680 in 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.