First Citizens Bank & Trust Co. Has $7.93 Million Stock Position in Arthur J. Gallagher & Co. (NYSE:AJG)

First Citizens Bank & Trust Co. trimmed its position in shares of Arthur J. Gallagher & Co. (NYSE:AJG) by 2.1% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 27,920 shares of the financial services provider’s stock after selling 595 shares during the quarter. First Citizens Bank & Trust Co.’s holdings in Arthur J. Gallagher & Co. were worth $7,925,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the company. W Advisors LLC boosted its stake in Arthur J. Gallagher & Co. by 2.4% during the third quarter. W Advisors LLC now owns 1,514 shares of the financial services provider’s stock valued at $426,000 after buying an additional 36 shares during the period. Miracle Mile Advisors LLC boosted its position in Arthur J. Gallagher & Co. by 0.8% during 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 period. Covenant Partners LLC lifted its stake in Arthur J. Gallagher & Co. by 0.7% in the third quarter. Covenant Partners LLC now owns 5,326 shares of the financial services provider’s stock worth $1,499,000 after acquiring an additional 38 shares during the period. Disciplined Investments LLC lifted its holdings in Arthur J. Gallagher & Co. by 0.7% in the third 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 period. Finally, Seelaus Asset Management LLC lifted its position in Arthur J. Gallagher & Co. by 0.7% during 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 buying an additional 38 shares during the period. 85.53% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, VP Christopher E. Mead sold 2,800 shares of the business’s 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 completion of the sale, the vice president now directly owns 14,674 shares in the company, valued at approximately $4,211,438. The trade was a 16.02 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Douglas K. Howell sold 7,000 shares of the stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $284.70, for a total transaction 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 position. The disclosure for this sale can be found here. Insiders own 1.60% of the company’s stock.

Arthur J. Gallagher & Co. Stock Up 0.6 %

Shares of AJG stock opened at $289.71 on Friday. Arthur J. Gallagher & Co. has a 1-year low of $227.08 and a 1-year high of $316.72. The stock’s fifty day moving average price is $291.74 and its 200 day moving average price is $287.69. 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 company has a market cap of $72.37 billion, a price-to-earnings ratio of 55.18 and a beta of 0.76.

Arthur J. Gallagher & Co. (NYSE:AJG) last announced its quarterly earnings data on Thursday, October 24th. The financial services provider reported $2.26 earnings per share for the quarter, meeting analysts’ consensus estimates of $2.26. The firm had revenue of $2.77 billion for 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%. The business’s quarterly revenue was up 12.8% compared to the same quarter last year. During the same period in the previous year, the company earned $2.00 earnings per share. On average, research analysts expect that Arthur J. Gallagher & Co. will post 10.05 earnings per share for the current fiscal year.

Analyst Ratings Changes

AJG has been the subject of several recent analyst reports. 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 report on Wednesday, January 8th. Barclays lifted 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. Jefferies Financial Group lifted their target price on shares of Arthur J. Gallagher & Co. from $269.00 to $274.00 and gave the stock a “hold” rating in a report on Wednesday, October 9th. Keefe, Bruyette & Woods upgraded shares of Arthur J. Gallagher & Co. from an “underperform” rating to a “market perform” rating and lowered their target price for the company from $292.00 to $286.00 in a research note on Friday, January 10th. Finally, Bank of America upped their price objective on Arthur J. Gallagher & Co. from $271.00 to $293.00 and gave the company an “underperform” rating in a research report on Thursday, October 10th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, Arthur J. Gallagher & Co. presently has an average rating of “Hold” and a consensus target price of $304.07.

About Arthur J. Gallagher & Co.

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.