Appleton Partners Inc. MA Sells 1,765 Shares of Arthur J. Gallagher & Co. (NYSE:AJG)

Appleton Partners Inc. MA decreased its stake in shares of Arthur J. Gallagher & Co. (NYSE:AJGFree Report) by 3.5% in the first quarter, HoldingsChannel reports. The institutional investor owned 49,305 shares of the financial services provider’s stock after selling 1,765 shares during the period. Appleton Partners Inc. MA’s holdings in Arthur J. Gallagher & Co. were worth $12,328,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. DekaBank Deutsche Girozentrale raised its stake in shares of Arthur J. Gallagher & Co. by 3.6% during the 3rd quarter. DekaBank Deutsche Girozentrale now owns 122,509 shares of the financial services provider’s stock worth $28,405,000 after acquiring an additional 4,225 shares in the last quarter. Kestra Advisory Services LLC increased its position in shares of Arthur J. Gallagher & Co. by 4.3% during the third quarter. Kestra Advisory Services LLC now owns 11,537 shares of the financial services provider’s stock worth $2,630,000 after purchasing an additional 479 shares in the last quarter. QRG Capital Management Inc. purchased a new stake in shares of Arthur J. Gallagher & Co. during the 3rd quarter valued at $1,989,000. Envestnet Portfolio Solutions Inc. acquired a new stake in shares of Arthur J. Gallagher & Co. in the 3rd quarter worth $12,282,000. Finally, Envestnet Asset Management Inc. grew its stake in Arthur J. Gallagher & Co. by 26.6% during the 3rd quarter. Envestnet Asset Management Inc. now owns 1,289,340 shares of the financial services provider’s stock worth $293,879,000 after buying an additional 271,225 shares during the last quarter. 85.53% of the stock is currently owned by institutional investors.

Arthur J. Gallagher & Co. Stock Performance

AJG stock traded up $1.11 during midday trading on Tuesday, hitting $262.27. 132,337 shares of the stock traded hands, compared to its average volume of 839,781. Arthur J. Gallagher & Co. has a 1-year low of $209.39 and a 1-year high of $262.73. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.05 and a quick ratio of 1.05. The stock’s fifty day simple moving average is $246.50 and its 200-day simple moving average is $241.49. The firm has a market cap of $57.31 billion, a P/E ratio of 52.87, a PEG ratio of 2.34 and a beta of 0.72.

Arthur J. Gallagher & Co. (NYSE:AJGGet Free Report) last posted its earnings results on Thursday, April 25th. The financial services provider reported $3.49 EPS for the quarter, beating analysts’ consensus estimates of $3.41 by $0.08. The firm had revenue of $3.22 billion for the quarter, compared to analysts’ expectations 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 period last year, the firm earned $3.03 EPS. On average, analysts expect that Arthur J. Gallagher & Co. will post 10.06 earnings per share for the current year.

Arthur J. Gallagher & Co. Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 21st. Stockholders of record on Friday, June 7th will be paid a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 0.92%. The ex-dividend date of this dividend is Friday, June 7th. Arthur J. Gallagher & Co.’s payout ratio is 48.58%.

Insider Activity at Arthur J. Gallagher & Co.

In other Arthur J. Gallagher & Co. news, General Counsel Walter D. Bay sold 8,717 shares of the stock in a transaction that occurred on Friday, May 17th. The stock was sold at an average price of $257.00, for a total transaction of $2,240,269.00. Following the completion of the transaction, the general counsel now owns 44,691 shares of the company’s stock, valued at $11,485,587. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Director David S. Johnson sold 850 shares of the company’s stock in a transaction that occurred on Wednesday, May 22nd. The stock was sold at an average price of $257.84, for a total value of $219,164.00. Following the completion of the sale, the director now directly owns 45,108 shares in the company, valued at $11,630,646.72. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, General Counsel Walter D. Bay sold 8,717 shares of the business’s stock in a transaction on Friday, May 17th. The stock was sold at an average price of $257.00, for a total value of $2,240,269.00. Following the transaction, the general counsel now directly owns 44,691 shares in the company, valued at approximately $11,485,587. The disclosure for this sale can be found here. In the last quarter, insiders have sold 34,862 shares of company stock valued at $8,813,019. 1.60% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on AJG shares. Truist Financial restated a “hold” rating and set a $255.00 price target (down previously from $280.00) on shares of Arthur J. Gallagher & Co. in a research note on Wednesday, April 10th. TD Cowen boosted their price target on Arthur J. Gallagher & Co. from $249.00 to $273.00 and gave the company a “hold” rating in a research note on Tuesday, April 2nd. Bank of America lifted their target price on Arthur J. Gallagher & Co. from $233.00 to $255.00 and gave the stock an “underperform” rating in a report on Wednesday, May 22nd. Keefe, Bruyette & Woods cut their price target on shares of Arthur J. Gallagher & Co. from $246.00 to $240.00 and set an “underperform” rating on the stock in a report on Wednesday, April 10th. Finally, Piper Sandler decreased their price objective on shares of Arthur J. Gallagher & Co. from $253.00 to $252.00 and set a “neutral” rating for the company in a research note on Monday, April 29th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, Arthur J. Gallagher & Co. currently has a consensus rating of “Hold” and a consensus price target of $260.58.

Read Our Latest Research Report on Arthur J. Gallagher & Co.

Arthur J. Gallagher & Co. Profile

(Free Report)

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.

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

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