Triangle Securities Wealth Management Decreases Position in Arthur J. Gallagher & Co. (NYSE:AJG)

Triangle Securities Wealth Management trimmed its holdings in shares of Arthur J. Gallagher & Co. (NYSE:AJG) by 1.1% during the 4th quarter, Holdings Channel reports. The institutional investor owned 3,263 shares of the financial services provider’s stock after selling 36 shares during the period. Triangle Securities Wealth Management’s holdings in Arthur J. Gallagher & Co. were worth $926,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Strategic Investment Solutions Inc. IL acquired a new position in shares of Arthur J. Gallagher & Co. during the second quarter valued at about $26,000. Pin Oak Investment Advisors Inc. increased its stake in Arthur J. Gallagher & Co. by 543.8% during the 3rd quarter. Pin Oak Investment Advisors Inc. now owns 103 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 87 shares in the last quarter. Quarry LP purchased a new position in shares of Arthur J. Gallagher & Co. in the second quarter worth $29,000. Rakuten Securities Inc. lifted its stake in shares of Arthur J. Gallagher & Co. by 580.0% during the third quarter. Rakuten Securities Inc. now owns 102 shares of the financial services provider’s stock worth $29,000 after buying an additional 87 shares during the period. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA grew its holdings in shares of Arthur J. Gallagher & Co. by 47.6% during the third quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 152 shares of the financial services provider’s stock valued at $44,000 after buying an additional 49 shares during the last quarter. 85.53% of the stock is owned by institutional investors and hedge funds.

Arthur J. Gallagher & Co. Trading Down 0.2 %

Shares of Arthur J. Gallagher & Co. stock opened at $295.22 on Friday. The firm has a 50-day simple moving average of $291.99 and a two-hundred day simple moving average of $286.85. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.06 and a current ratio of 1.06. Arthur J. Gallagher & Co. has a fifty-two week low of $227.08 and a fifty-two week high of $316.72. The company has a market cap of $73.75 billion, a P/E ratio of 56.23 and a beta of 0.76.

Arthur J. Gallagher & Co. (NYSE:AJG) last released its quarterly earnings results on Thursday, October 24th. The financial services provider reported $2.26 earnings per share for the quarter, hitting 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 company had revenue of $2.77 billion during the quarter, compared to analysts’ expectations of $2.78 billion. During the same quarter in the prior year, the firm posted $2.00 EPS. Arthur J. Gallagher & Co.’s quarterly revenue was up 12.8% compared to the same quarter last year. As a group, equities analysts predict that Arthur J. Gallagher & Co. will post 10.06 earnings per share for the current fiscal year.

Arthur J. Gallagher & Co. Dividend Announcement

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

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the company. Piper Sandler upgraded Arthur J. Gallagher & Co. from a “neutral” rating to an “overweight” rating and raised their target price for the stock from $285.00 to $315.00 in a research note on Wednesday, January 8th. Jefferies Financial Group raised their price objective on Arthur J. Gallagher & Co. from $269.00 to $274.00 and gave the stock a “hold” rating in a research note on Wednesday, October 9th. 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 on the stock. in a report on Monday, November 25th. Keefe, Bruyette & Woods raised shares of Arthur J. Gallagher & Co. from an “underperform” rating to a “market perform” rating and reduced their price target for the stock from $292.00 to $286.00 in a research report on Friday, January 10th. Finally, Barclays upped their price objective on shares of Arthur J. Gallagher & Co. from $300.00 to $308.00 and gave the company an “equal weight” rating in a report on Thursday, November 21st. Two analysts have rated the stock with a sell rating, six have issued a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, Arthur J. Gallagher & Co. has a consensus rating of “Hold” and a consensus price target of $304.07.

Insider Transactions at Arthur J. Gallagher & Co.

In related news, VP Christopher E. Mead sold 2,800 shares of Arthur J. Gallagher & Co. stock in a transaction that occurred on 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 owns 14,674 shares in the company, valued at approximately $4,211,438. This trade represents a 16.02 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Douglas K. Howell sold 7,000 shares of the company’s stock in a transaction on Monday, October 28th. The shares were 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 approximately $21,626,666.10. The trade was a 8.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.60% of the company’s stock.

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.