Occidental Asset Management LLC Trims Position in Arthur J. Gallagher & Co. (NYSE:AJG)

Occidental Asset Management LLC lowered its stake in shares of Arthur J. Gallagher & Co. (NYSE:AJG) by 1.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,917 shares of the financial services provider’s stock after selling 52 shares during the quarter. Occidental Asset Management LLC’s holdings in Arthur J. Gallagher & Co. were worth $828,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in AJG. W Advisors LLC grew its stake in shares of Arthur J. Gallagher & Co. by 2.4% in the 3rd quarter. W Advisors LLC now owns 1,514 shares of the financial services provider’s stock valued at $426,000 after purchasing an additional 36 shares during the last quarter. Miracle Mile Advisors LLC grew its position in Arthur J. Gallagher & Co. by 0.8% in the 3rd quarter. Miracle Mile Advisors LLC now owns 4,583 shares of the financial services provider’s stock valued at $1,289,000 after buying an additional 38 shares during the last quarter. Covenant Partners LLC increased its stake in Arthur J. Gallagher & Co. by 0.7% in the 3rd quarter. Covenant Partners LLC now owns 5,326 shares of the financial services provider’s stock valued at $1,499,000 after buying an additional 38 shares during the period. Disciplined Investments LLC raised its position in Arthur J. Gallagher & Co. by 0.7% during the 3rd quarter. Disciplined Investments LLC now owns 5,849 shares of the financial services provider’s stock worth $1,635,000 after buying an additional 38 shares during the last quarter. Finally, Seelaus Asset Management LLC boosted its holdings in shares of Arthur J. Gallagher & Co. by 0.7% in the third quarter. Seelaus Asset Management LLC now owns 5,481 shares of the financial services provider’s stock valued at $1,542,000 after acquiring an additional 38 shares in the last quarter. Institutional investors and hedge funds own 85.53% of the company’s stock.

Wall Street Analyst Weigh In

AJG has been the topic of a number of analyst reports. Wells Fargo & Company lifted their price objective on Arthur J. Gallagher & Co. from $315.00 to $344.00 and gave the company an “overweight” rating in a report on Tuesday, December 10th. Jefferies Financial Group boosted their target price on Arthur J. Gallagher & Co. from $269.00 to $274.00 and gave the stock a “hold” rating in a research report on Wednesday, October 9th. Piper Sandler raised Arthur J. Gallagher & Co. from a “neutral” rating to an “overweight” rating and lifted their price target for the stock from $285.00 to $315.00 in a research note on Wednesday, January 8th. Royal Bank of Canada increased their price objective on shares of Arthur J. Gallagher & Co. from $310.00 to $320.00 and gave the company an “outperform” rating in a research note on Friday, September 20th. Finally, Bank of America lifted their target price on shares of Arthur J. Gallagher & Co. from $271.00 to $293.00 and gave the stock an “underperform” rating in a research report on Thursday, October 10th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $304.07.

Arthur J. Gallagher & Co. Stock Up 1.9 %

AJG opened at $295.65 on Friday. The stock has a market capitalization of $73.85 billion, a price-to-earnings ratio of 56.31 and a beta of 0.76. Arthur J. Gallagher & Co. has a 12 month low of $227.08 and a 12 month high of $316.72. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.06 and a quick ratio of 1.06. The business has a 50-day moving average of $291.88 and a two-hundred day moving average of $286.36.

Arthur J. Gallagher & Co. (NYSE:AJG) last issued its quarterly earnings results on Thursday, October 24th. The financial services provider reported $2.26 EPS for the quarter, hitting the consensus estimate of $2.26. The firm had revenue of $2.77 billion during the quarter, compared to analyst estimates of $2.78 billion. Arthur J. Gallagher & Co. had a net margin of 10.40% and a return on equity of 19.12%. Arthur J. Gallagher & Co.’s revenue for the quarter was up 12.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.00 earnings per share. On average, research analysts expect that Arthur J. Gallagher & Co. will post 10.06 earnings per share for the current year.

Arthur J. Gallagher & Co. Announces Dividend

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

Insider Transactions at Arthur J. Gallagher & Co.

In other Arthur J. Gallagher & Co. news, CFO Douglas K. Howell sold 7,000 shares of the firm’s stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $284.70, for a total value of $1,992,900.00. Following the transaction, the chief financial officer now directly owns 75,963 shares of the company’s stock, valued at $21,626,666.10. This trade represents a 8.44 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Christopher E. Mead sold 2,800 shares of the company’s stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $287.00, for a total value of $803,600.00. Following the completion of the sale, the vice president now directly owns 14,674 shares of the company’s stock, valued at $4,211,438. The trade was a 16.02 % decrease in their position. The disclosure for this sale can be found here. Company 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.