Integrated Wealth Concepts LLC Sells 60 Shares of Arthur J. Gallagher & Co. (NYSE:AJG)

Integrated Wealth Concepts LLC reduced its stake in shares of Arthur J. Gallagher & Co. (NYSE:AJG) by 3.1% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,889 shares of the financial services provider’s stock after selling 60 shares during the period. Integrated Wealth Concepts LLC’s holdings in Arthur J. Gallagher & Co. were worth $532,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Mark Sheptoff Financial Planning LLC bought a new position in shares of Arthur J. Gallagher & Co. in the 2nd quarter worth about $26,000. Strategic Investment Solutions Inc. IL bought a new position in shares of Arthur J. Gallagher & Co. in the 2nd quarter worth about $26,000. Pin Oak Investment Advisors Inc. raised its position in shares of Arthur J. Gallagher & Co. by 543.8% in the 3rd quarter. Pin Oak Investment Advisors Inc. now owns 103 shares of the financial services provider’s stock worth $28,000 after acquiring an additional 87 shares in the last quarter. DiNuzzo Private Wealth Inc. raised its position in shares of Arthur J. Gallagher & Co. by 89.7% in the 2nd quarter. DiNuzzo Private Wealth Inc. now owns 110 shares of the financial services provider’s stock worth $29,000 after acquiring an additional 52 shares in the last quarter. Finally, Quarry LP bought a new position in shares of Arthur J. Gallagher & Co. in the 2nd quarter worth about $29,000. 85.53% of the stock is owned by institutional investors.

Arthur J. Gallagher & Co. Price Performance

AJG stock opened at $283.65 on Wednesday. The company has a market capitalization of $62.23 billion, a P/E ratio of 54.05, a price-to-earnings-growth ratio of 2.53 and a beta of 0.74. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.06 and a current ratio of 1.06. Arthur J. Gallagher & Co. has a 52-week low of $218.63 and a 52-week high of $316.72. The business has a 50-day simple moving average of $293.62 and a two-hundred day simple moving average of $281.35.

Arthur J. Gallagher & Co. (NYSE:AJG) last announced its earnings results on Thursday, October 24th. The financial services provider reported $2.26 earnings per share for the quarter, hitting analysts’ consensus estimates of $2.26. Arthur J. Gallagher & Co. had a return on equity of 19.12% and a net margin of 10.40%. The firm had revenue of $2.77 billion for the quarter, compared to the consensus estimate of $2.78 billion. During the same quarter in the previous year, the business earned $2.00 EPS. The company’s revenue was up 12.8% compared to the same quarter last year. Research analysts expect that Arthur J. Gallagher & Co. will post 10.12 EPS for the current fiscal year.

Arthur J. Gallagher & Co. Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Friday, December 6th will be paid a $0.60 dividend. The ex-dividend date of this dividend is Friday, December 6th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 0.85%. Arthur J. Gallagher & Co.’s payout ratio is presently 45.71%.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on AJG. Barclays lifted their price objective on Arthur J. Gallagher & Co. from $300.00 to $308.00 and gave the stock an “equal weight” rating in a research report on Thursday, November 21st. Jefferies Financial Group boosted their target price on Arthur J. Gallagher & Co. from $269.00 to $274.00 and gave the company a “hold” rating in a research report on Wednesday, October 9th. TD Cowen boosted their target price on Arthur J. Gallagher & Co. from $273.00 to $288.00 and gave the company a “hold” rating in a research report on Tuesday, August 13th. Bank of America boosted their target price 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. Finally, Truist Financial boosted their target price on Arthur J. Gallagher & Co. from $265.00 to $275.00 and gave the company a “hold” rating in a research report on Friday, September 20th. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $293.71.

Insider Transactions at Arthur J. Gallagher & Co.

In related news, President Michael Robert Pesch sold 7,100 shares of Arthur J. Gallagher & Co. stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $296.20, for a total value of $2,103,020.00. Following the sale, the president now owns 33,267 shares of the company’s stock, valued at approximately $9,853,685.40. The trade was a 17.59 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Douglas K. Howell sold 7,000 shares of Arthur J. Gallagher & Co. stock in a transaction that occurred on Thursday, September 19th. The stock was sold at an average price of $284.68, for a total transaction of $1,992,760.00. Following the completion of the sale, the chief financial officer now directly owns 75,963 shares in the company, valued at $21,625,146.84. This trade represents a 8.44 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 23,900 shares of company stock worth $6,892,280 in the last 90 days. Insiders own 1.60% of the company’s stock.

About Arthur J. Gallagher & Co.

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.