Axxcess Wealth Management LLC Lowers Stock Position in Arthur J. Gallagher & Co. $AJG

Axxcess Wealth Management LLC lessened its stake in shares of Arthur J. Gallagher & Co. (NYSE:AJGFree Report) by 6.7% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,967 shares of the financial services provider’s stock after selling 504 shares during the quarter. Axxcess Wealth Management LLC’s holdings in Arthur J. Gallagher & Co. were worth $2,231,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. HWG Holdings LP purchased a new position in Arthur J. Gallagher & Co. during the first quarter worth about $25,000. AlphaQuest LLC purchased a new position in Arthur J. Gallagher & Co. during the first quarter worth about $33,000. Saudi Central Bank purchased a new position in shares of Arthur J. Gallagher & Co. in the first quarter valued at approximately $34,000. Centennial Bank AR purchased a new position in shares of Arthur J. Gallagher & Co. in the first quarter valued at approximately $38,000. Finally, Motco boosted its stake in shares of Arthur J. Gallagher & Co. by 700.0% in the first quarter. Motco now owns 112 shares of the financial services provider’s stock valued at $39,000 after purchasing an additional 98 shares during the period. Hedge funds and other institutional investors own 85.53% of the company’s stock.

Arthur J. Gallagher & Co. Stock Down 2.3%

Shares of NYSE:AJG opened at $296.67 on Thursday. The firm’s 50 day moving average price is $299.93 and its 200 day moving average price is $314.95. The stock has a market cap of $76.07 billion, a price-to-earnings ratio of 42.14 and a beta of 0.73. Arthur J. Gallagher & Co. has a fifty-two week low of $275.56 and a fifty-two week high of $351.23. The company has a quick ratio of 1.36, a current ratio of 1.36 and a debt-to-equity ratio of 0.52.

Arthur J. Gallagher & Co. (NYSE:AJGGet Free Report) last issued its earnings results on Thursday, July 31st. The financial services provider reported $2.33 earnings per share for the quarter, missing the consensus estimate of $2.36 by ($0.03). Arthur J. Gallagher & Co. had a net margin of 14.54% and a return on equity of 13.17%. The firm had revenue of $3.18 billion during the quarter, compared to analyst estimates of $3.20 billion. During the same period last year, the business earned $2.29 EPS. The firm’s revenue was up 16.0% compared to the same quarter last year. As a group, equities research analysts predict that Arthur J. Gallagher & Co. will post 11.54 earnings per share for the current fiscal year.

Arthur J. Gallagher & Co. Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 19th. Shareholders of record on Friday, September 5th were issued a dividend of $0.65 per share. The ex-dividend date of this dividend was Friday, September 5th. This represents a $2.60 dividend on an annualized basis and a yield of 0.9%. Arthur J. Gallagher & Co.’s dividend payout ratio (DPR) is presently 36.93%.

Analysts Set New Price Targets

Several research analysts have recently commented on AJG shares. Weiss Ratings reissued a “buy (b-)” rating on shares of Arthur J. Gallagher & Co. in a research note on Wednesday, October 8th. Barclays lowered their price objective on shares of Arthur J. Gallagher & Co. from $346.00 to $327.00 and set an “equal weight” rating for the company in a research note on Monday, July 7th. UBS Group raised their price objective on shares of Arthur J. Gallagher & Co. from $322.00 to $329.00 and gave the company a “neutral” rating in a research note on Friday, September 19th. Wells Fargo & Company raised their price objective on shares of Arthur J. Gallagher & Co. from $365.00 to $366.00 and gave the company an “overweight” rating in a research note on Wednesday, October 8th. Finally, Cantor Fitzgerald raised shares of Arthur J. Gallagher & Co. to a “strong-buy” rating in a report on Wednesday, August 13th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and eight have issued a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $331.43.

Read Our Latest Stock Analysis on Arthur J. Gallagher & Co.

Insider Buying and Selling

In other Arthur J. Gallagher & Co. news, VP Scott R. Hudson sold 12,855 shares of the firm’s stock in a transaction that occurred on Monday, September 8th. The shares were sold at an average price of $297.60, for a total transaction of $3,825,648.00. Following the sale, the vice president owned 85,920 shares of the company’s stock, valued at approximately $25,569,792. This trade represents a 13.01% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Douglas K. Howell sold 8,000 shares of the firm’s stock in a transaction that occurred on Monday, September 22nd. The stock was sold at an average price of $299.54, for a total transaction of $2,396,320.00. Following the sale, the chief financial officer directly owned 100,777 shares in the company, valued at approximately $30,186,742.58. The trade was a 7.35% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 29,855 shares of company stock worth $8,916,928. 1.60% of the stock is owned by corporate insiders.

Arthur J. Gallagher & Co. Profile

(Free Report)

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 segments: Brokerage, Risk Management, and Corporate. The Brokerage segment consists of retail and wholesale insurance brokerage operations.

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Institutional Ownership by Quarter for Arthur J. Gallagher & Co. (NYSE:AJG)

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