Arthur J. Gallagher & Co. $AJG Shares Sold by Legacy Wealth Management LLC MS

Legacy Wealth Management LLC MS cut its stake in Arthur J. Gallagher & Co. (NYSE:AJGFree Report) by 21.9% during the second quarter, HoldingsChannel reports. The institutional investor owned 10,541 shares of the financial services provider’s stock after selling 2,950 shares during the quarter. Arthur J. Gallagher & Co. comprises approximately 0.6% of Legacy Wealth Management LLC MS’s portfolio, making the stock its 25th biggest holding. Legacy Wealth Management LLC MS’s holdings in Arthur J. Gallagher & Co. were worth $2,420,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of AJG. Ritholtz Wealth Management boosted its stake in shares of Arthur J. Gallagher & Co. by 0.4% in the fourth quarter. Ritholtz Wealth Management now owns 10,061 shares of the financial services provider’s stock worth $2,604,000 after acquiring an additional 45 shares during the last quarter. CYBER HORNET ETFs LLC raised its stake in Arthur J. Gallagher & Co. by 7.8% in the 4th quarter. CYBER HORNET ETFs LLC now owns 634 shares of the financial services provider’s stock valued at $164,000 after purchasing an additional 46 shares during the last quarter. Allen Capital Group LLC lifted its holdings in Arthur J. Gallagher & Co. by 2.5% in the 4th quarter. Allen Capital Group LLC now owns 1,895 shares of the financial services provider’s stock valued at $490,000 after purchasing an additional 47 shares in the last quarter. Manhattan West Asset Management LLC lifted its holdings in Arthur J. Gallagher & Co. by 0.7% in the 4th quarter. Manhattan West Asset Management LLC now owns 6,870 shares of the financial services provider’s stock valued at $1,778,000 after purchasing an additional 49 shares in the last quarter. Finally, Pure Financial Advisors LLC boosted its stake in Arthur J. Gallagher & Co. by 6.4% during the 4th quarter. Pure Financial Advisors LLC now owns 809 shares of the financial services provider’s stock worth $209,000 after purchasing an additional 49 shares during the last quarter. 85.53% of the stock is currently owned by hedge funds and other institutional investors.

Arthur J. Gallagher & Co. Stock Down 1.7%

Shares of AJG opened at $247.59 on Friday. Arthur J. Gallagher & Co. has a 52-week low of $190.75 and a 52-week high of $313.55. The company has a quick ratio of 1.06, a current ratio of 1.05 and a debt-to-equity ratio of 0.50. The stock has a fifty day simple moving average of $236.28 and a two-hundred day simple moving average of $224.75. The company has a market capitalization of $63.46 billion, a PE ratio of 41.06, a price-to-earnings-growth ratio of 1.28 and a beta of 0.50.

Arthur J. Gallagher & Co. (NYSE:AJGGet Free Report) last announced its quarterly earnings data on Thursday, July 30th. The financial services provider reported $2.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.81 by $0.03. Arthur J. Gallagher & Co. had a net margin of 9.96% and a return on equity of 13.28%. The firm had revenue of $3.95 billion during the quarter, compared to analyst estimates of $4.01 billion. During the same quarter in the prior year, the firm posted $2.33 earnings per share. Arthur J. Gallagher & Co.’s quarterly revenue was up 24.3% on a year-over-year basis. As a group, equities analysts forecast that Arthur J. Gallagher & Co. will post 13.27 EPS for the current year.

Arthur J. Gallagher & Co. Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, September 18th. Stockholders of record on Tuesday, September 8th will be paid a $0.70 dividend. The ex-dividend date of this dividend is Tuesday, September 8th. This represents a $2.80 annualized dividend and a dividend yield of 1.1%. Arthur J. Gallagher & Co.’s dividend payout ratio is 46.43%.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on AJG shares. UBS Group increased their target price on shares of Arthur J. Gallagher & Co. from $291.00 to $299.00 and gave the company a “buy” rating in a research report on Monday, August 3rd. Truist Financial boosted their price target on shares of Arthur J. Gallagher & Co. from $225.00 to $265.00 and gave the stock a “hold” rating in a research report on Friday, July 31st. Jefferies Financial Group raised shares of Arthur J. Gallagher & Co. from a “hold” rating to a “buy” rating and upped their price objective for the company from $235.00 to $265.00 in a research note on Thursday, June 11th. Morgan Stanley raised their target price on shares of Arthur J. Gallagher & Co. from $240.00 to $255.00 and gave the stock an “overweight” rating in a research note on Monday, July 6th. Finally, Royal Bank Of Canada boosted their target price on Arthur J. Gallagher & Co. from $300.00 to $310.00 and gave the stock an “outperform” rating in a report on Friday, July 31st. Thirteen research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $287.65.

Read Our Latest Research Report on AJG

Insider Buying and Selling at Arthur J. Gallagher & Co.

In other news, CAO Richard C. Cary sold 3,000 shares of the firm’s stock in a transaction that occurred on Tuesday, June 2nd. The shares were sold at an average price of $206.00, for a total transaction of $618,000.00. Following the completion of the sale, the chief accounting officer owned 47,819 shares in the company, valued at $9,850,714. This trade represents a 5.90% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.40% of the stock is currently owned by company insiders.

Arthur J. Gallagher & Co. Profile

(Free Report)

Arthur J. Gallagher & Co is a global insurance brokerage and risk management firm headquartered in Rolling Meadows, Illinois. Founded in 1927 by Arthur J. Gallagher, the company has grown from a regional broker into an international professional services organization that arranges insurance, provides consulting and designs risk-transfer solutions for commercial, industrial, public sector and individual clients.

The company’s core activities include property and casualty insurance brokerage, employee benefits consulting and administration, and a range of risk management services.

Further Reading

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Institutional Ownership by Quarter for Arthur J. Gallagher & Co. (NYSE:AJG)

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