Drive Wealth Management LLC Reduces Stock Holdings in Arthur J. Gallagher & Co. (NYSE:AJG)

Drive Wealth Management LLC reduced its holdings in shares of Arthur J. Gallagher & Co. (NYSE:AJG) by 2.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,929 shares of the financial services provider’s stock after selling 39 shares during the quarter. Drive Wealth Management LLC’s holdings in Arthur J. Gallagher & Co. were worth $547,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. FMR LLC increased its position in Arthur J. Gallagher & Co. by 4.9% during the third quarter. FMR LLC now owns 12,305,478 shares of the financial services provider’s stock worth $3,462,392,000 after buying an additional 580,134 shares in the last quarter. State Street Corp increased its position in Arthur J. Gallagher & Co. by 0.5% during the 3rd quarter. State Street Corp now owns 8,932,007 shares of the financial services provider’s stock worth $2,513,199,000 after purchasing an additional 47,656 shares in the last quarter. Geode Capital Management LLC increased its position in Arthur J. Gallagher & Co. by 1.5% during the 3rd quarter. Geode Capital Management LLC now owns 5,490,728 shares of the financial services provider’s stock worth $1,541,044,000 after purchasing an additional 79,429 shares in the last quarter. Massachusetts Financial Services Co. MA grew its holdings in shares of Arthur J. Gallagher & Co. by 13.6% during the third quarter. Massachusetts Financial Services Co. MA now owns 3,196,992 shares of the financial services provider’s stock worth $899,538,000 after buying an additional 383,130 shares in the last quarter. Finally, Janus Henderson Group PLC grew its holdings in shares of Arthur J. Gallagher & Co. by 2.4% during the third quarter. Janus Henderson Group PLC now owns 1,330,703 shares of the financial services provider’s stock worth $374,408,000 after buying an additional 31,181 shares in the last quarter. 85.53% of the stock is owned by hedge funds and other institutional investors.

Arthur J. Gallagher & Co. Stock Up 0.6 %

Shares of NYSE AJG opened at $289.71 on Monday. The firm 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. has a 1 year low of $227.08 and a 1 year high of $316.72. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.06 and a current ratio of 1.06. The stock’s 50-day simple moving average is $291.74 and its 200-day simple moving average is $287.86.

Arthur J. Gallagher & Co. (NYSE:AJG) last released its quarterly 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 net margin of 10.40% and a return on equity of 19.12%. The business had revenue of $2.77 billion during the quarter, compared to the consensus estimate of $2.78 billion. During the same quarter last year, the company earned $2.00 earnings per share. The business’s quarterly revenue was up 12.8% compared to the same quarter last year. As a group, equities analysts anticipate that Arthur J. Gallagher & Co. will post 10.05 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

AJG has been the subject of a number of recent analyst reports. Jefferies Financial Group lifted their price objective 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. Barclays lifted their price target on Arthur J. Gallagher & Co. from $300.00 to $308.00 and gave the company an “equal weight” rating in a report on Thursday, November 21st. Wells Fargo & Company boosted their target price on shares of Arthur J. Gallagher & Co. from $315.00 to $344.00 and gave the company an “overweight” rating in a report on Tuesday, December 10th. TD Cowen raised shares of Arthur J. Gallagher & Co. from a “hold” rating to a “buy” rating and boosted their price objective for the company from $295.00 to $377.00 in a research note on Friday, January 10th. Finally, Keefe, Bruyette & Woods raised Arthur J. Gallagher & Co. from an “underperform” rating to a “market perform” rating and lowered their price target for the company from $292.00 to $286.00 in a research report on Friday, January 10th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target 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.