Axxcess Wealth Management LLC Has $2.50 Million Position in Arthur J. Gallagher & Co. (NYSE:AJG)

Axxcess Wealth Management LLC lifted its position in Arthur J. Gallagher & Co. (NYSE:AJG) by 29.0% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 8,820 shares of the financial services provider’s stock after purchasing an additional 1,983 shares during the quarter. Axxcess Wealth Management LLC’s holdings in Arthur J. Gallagher & Co. were worth $2,504,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Valley National Advisers Inc. bought a new stake in Arthur J. Gallagher & Co. during the fourth quarter worth about $25,000. Pin Oak Investment Advisors Inc. grew its position in Arthur J. Gallagher & Co. by 543.8% during 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 during the last quarter. E Fund Management Hong Kong Co. Ltd. acquired a new stake in Arthur J. Gallagher & Co. during the 4th quarter valued at $35,000. Financial Life Planners bought a new position in Arthur J. Gallagher & Co. in the 4th quarter valued at $36,000. Finally, OFI Invest Asset Management acquired a new position in Arthur J. Gallagher & Co. in the fourth quarter worth $42,000. Institutional investors and hedge funds own 85.53% of the company’s stock.

Arthur J. Gallagher & Co. Stock Performance

Shares of NYSE:AJG opened at $329.76 on Wednesday. The firm’s 50 day simple moving average is $314.21 and its 200 day simple moving average is $298.74. Arthur J. Gallagher & Co. has a fifty-two week low of $230.08 and a fifty-two week high of $345.43. The company has a market capitalization of $83.99 billion, a price-to-earnings ratio of 50.58 and a beta of 0.75. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.51 and a quick ratio of 1.51.

Arthur J. Gallagher & Co. (NYSE:AJG) last posted its earnings results on Thursday, January 30th. The financial services provider reported $2.13 earnings per share for the quarter, topping the consensus estimate of $2.03 by $0.10. Arthur J. Gallagher & Co. had a net margin of 12.70% and a return on equity of 16.47%. As a group, sell-side analysts forecast that Arthur J. Gallagher & Co. will post 11.54 earnings per share for the current year.

Arthur J. Gallagher & Co. Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 21st. Shareholders of record on Friday, March 7th will be issued a $0.65 dividend. This is an increase from Arthur J. Gallagher & Co.’s previous quarterly dividend of $0.60. This represents a $2.60 annualized dividend and a dividend yield of 0.79%. The ex-dividend date of this dividend is Friday, March 7th. Arthur J. Gallagher & Co.’s dividend payout ratio is 39.88%.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on AJG shares. 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. The Goldman Sachs Group downgraded shares of Arthur J. Gallagher & Co. from a “buy” rating to a “neutral” rating and set a $313.00 target price for the company. in a research note on Monday, November 25th. Piper Sandler raised shares of Arthur J. Gallagher & Co. from a “neutral” rating to an “overweight” rating and raised their price target for the company from $285.00 to $315.00 in a report on Wednesday, January 8th. Wells Fargo & Company reduced their price objective on Arthur J. Gallagher & Co. from $344.00 to $341.00 and set an “overweight” rating on the stock in a report on Friday, January 31st. Finally, Truist Financial lifted their target price on Arthur J. Gallagher & Co. from $275.00 to $290.00 and gave the company a “hold” rating in a research note on Friday, January 31st. Two research analysts have rated the stock with a sell rating, six have given a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $307.93.

Insider Transactions at Arthur J. Gallagher & Co.

In related news, CAO Richard C. Cary sold 10,000 shares of the firm’s stock in a transaction on Monday, February 10th. The shares were sold at an average price of $322.99, for a total transaction of $3,229,900.00. Following the sale, the chief accounting officer now directly owns 69,774 shares in the company, valued at $22,536,304.26. This trade represents a 12.54 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Sherry S. Barrat sold 2,500 shares of the company’s stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $304.33, for a total transaction of $760,825.00. Following the completion of the transaction, the director now directly owns 16,533 shares of the company’s stock, valued at approximately $5,031,487.89. The trade was a 13.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 15,725 shares of company stock valued at $4,972,964 over the last 90 days. 1.60% of the stock is owned by company insiders.

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.