Modera Wealth Management LLC Has $442,000 Position in Arthur J. Gallagher & Co. (NYSE:AJG)

Modera Wealth Management LLC lifted its position in Arthur J. Gallagher & Co. (NYSE:AJG) by 4.8% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 1,558 shares of the financial services provider’s stock after purchasing an additional 71 shares during the quarter. Modera Wealth Management LLC’s holdings in Arthur J. Gallagher & Co. were worth $442,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in AJG. FMR LLC grew its stake in Arthur J. Gallagher & Co. by 4.9% during the third quarter. FMR LLC now owns 12,305,478 shares of the financial services provider’s stock worth $3,462,392,000 after buying an additional 580,134 shares during the last quarter. State Street Corp grew its stake in shares of Arthur J. Gallagher & Co. by 0.5% during the third quarter. State Street Corp now owns 8,932,007 shares of the financial services provider’s stock valued at $2,513,199,000 after purchasing an additional 47,656 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Arthur J. Gallagher & Co. by 1.5% in the third quarter. Geode Capital Management LLC now owns 5,490,728 shares of the financial services provider’s stock valued at $1,541,044,000 after purchasing an additional 79,429 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in Arthur J. Gallagher & Co. by 13.6% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 3,196,992 shares of the financial services provider’s stock worth $899,538,000 after buying an additional 383,130 shares in the last quarter. Finally, Principal Financial Group Inc. boosted its position in Arthur J. Gallagher & Co. by 126.2% in the 4th quarter. Principal Financial Group Inc. now owns 2,003,237 shares of the financial services provider’s stock valued at $568,619,000 after buying an additional 1,117,441 shares during the last quarter. Institutional investors and hedge funds own 85.53% of the company’s stock.

Insider Transactions at Arthur J. Gallagher & Co.

In other Arthur J. Gallagher & Co. news, Director Sherry S. Barrat sold 2,500 shares of the business’s stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $304.33, for a total transaction of $760,825.00. Following the transaction, the director now owns 16,533 shares of the company’s stock, valued at $5,031,487.89. The trade was a 13.14 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director David S. Johnson sold 325 shares of the firm’s stock in a transaction that occurred on Wednesday, February 12th. The shares were sold at an average price of $322.06, for a total value of $104,669.50. Following the completion of the sale, the director now directly owns 44,783 shares of the company’s stock, valued at approximately $14,422,812.98. The trade was a 0.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 15,725 shares of company stock worth $4,972,964 in the last 90 days. Corporate insiders own 1.60% of the company’s stock.

Arthur J. Gallagher & Co. Trading Down 1.3 %

NYSE:AJG opened at $337.27 on Wednesday. The company has a market cap of $85.90 billion, a P/E ratio of 51.73 and a beta of 0.77. Arthur J. Gallagher & Co. has a twelve month low of $230.08 and a twelve month high of $345.43. The business has a 50 day moving average price of $305.06 and a two-hundred day moving average price of $296.00. The company has a quick ratio of 1.51, a current ratio of 1.51 and a debt-to-equity ratio of 0.63.

Arthur J. Gallagher & Co. (NYSE:AJG) last announced its earnings results on Thursday, January 30th. The financial services provider reported $2.13 EPS for the quarter, topping the consensus estimate of $2.03 by $0.10. Arthur J. Gallagher & Co. had a net margin of 12.70% and a return on equity of 16.47%. As a group, analysts expect that Arthur J. Gallagher & Co. will post 11.54 EPS for the current fiscal year.

Arthur J. Gallagher & Co. Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 21st. Shareholders of record on Friday, March 7th will be given a dividend of $0.65 per share. This is a positive change from Arthur J. Gallagher & Co.’s previous quarterly dividend of $0.60. The ex-dividend date is Friday, March 7th. This represents a $2.60 annualized dividend and a dividend yield of 0.77%. Arthur J. Gallagher & Co.’s payout ratio is 39.88%.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on AJG. TD Cowen raised Arthur J. Gallagher & Co. from a “hold” rating to a “buy” rating and upped their price target for the company from $295.00 to $377.00 in a research note on Friday, January 10th. Piper Sandler raised Arthur J. Gallagher & Co. from a “neutral” rating to an “overweight” rating and increased their price target for the company from $285.00 to $315.00 in a research note on Wednesday, January 8th. Royal Bank of Canada boosted their price objective on shares of Arthur J. Gallagher & Co. from $320.00 to $340.00 and gave the company an “outperform” rating in a report on Friday, January 31st. Barclays increased their target price on shares of Arthur J. Gallagher & Co. from $300.00 to $308.00 and gave the stock an “equal weight” rating in a report on Thursday, November 21st. Finally, The Goldman Sachs Group lowered 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 report on Monday, November 25th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $307.00.

Arthur J. Gallagher & Co. Profile

Arthur J. Gallagher & Co engages in the provision of insurance brokerage, reinsurance brokerage, consulting, and third-party claims settlement and administration services. It operates through the following business segments: Brokerage, Risk Management, and Corporate. The Brokerage segment consists of retail and wholesale insurance brokerage operations.