Cetera Investment Advisers Has $24.89 Million Stake in Arthur J. Gallagher & Co. $AJG

Cetera Investment Advisers boosted its holdings in Arthur J. Gallagher & Co. (NYSE:AJG) by 2.7% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 77,753 shares of the financial services provider’s stock after purchasing an additional 2,074 shares during the quarter. Cetera Investment Advisers’ holdings in Arthur J. Gallagher & Co. were worth $24,890,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. J.Safra Asset Management Corp grew its holdings in shares of Arthur J. Gallagher & Co. by 209.1% during the second quarter. J.Safra Asset Management Corp now owns 102 shares of the financial services provider’s stock valued at $32,000 after buying an additional 69 shares during the last quarter. AlphaQuest LLC bought a new position in Arthur J. Gallagher & Co. in the 1st quarter valued at about $33,000. Saudi Central Bank acquired a new position in Arthur J. Gallagher & Co. during the 1st quarter valued at about $34,000. Motco increased its holdings in Arthur J. Gallagher & Co. by 700.0% during the 1st quarter. Motco now owns 112 shares of the financial services provider’s stock worth $39,000 after purchasing an additional 98 shares in the last quarter. Finally, SouthState Corp purchased a new stake in shares of Arthur J. Gallagher & Co. in the first quarter worth approximately $39,000. Institutional investors and hedge funds own 85.53% of the company’s stock.

Insider Transactions at Arthur J. Gallagher & Co.

In other Arthur J. Gallagher & Co. news, VP Scott R. Hudson sold 12,855 shares of the stock in a transaction dated 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 completion of the transaction, the vice president owned 85,920 shares in the company, valued at $25,569,792. This trade represents a 13.01% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Douglas K. Howell sold 8,000 shares of Arthur J. Gallagher & Co. stock in a transaction dated 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 completion of the transaction, the chief financial officer owned 100,777 shares of the company’s stock, valued at $30,186,742.58. The trade was a 7.35% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 29,855 shares of company stock worth $8,916,928. 1.60% of the stock is owned by company insiders.

Analyst Ratings Changes

Several brokerages recently issued reports on AJG. Weiss Ratings reiterated a “buy (b-)” rating on shares of Arthur J. Gallagher & Co. in a report on Wednesday, October 8th. UBS Group lifted their price objective on shares of Arthur J. Gallagher & Co. from $322.00 to $329.00 and gave the stock a “neutral” rating in a report on Friday, September 19th. Erste Group Bank reiterated a “hold” rating on shares of Arthur J. Gallagher & Co. in a report on Wednesday, July 23rd. Piper Sandler cut their price target on shares of Arthur J. Gallagher & Co. from $340.00 to $295.00 and set an “overweight” rating on the stock in a report on Friday, October 31st. Finally, Wall Street Zen lowered shares of Arthur J. Gallagher & Co. from a “hold” rating to a “sell” rating in a research note on Saturday, November 1st. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and eight have given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $323.64.

Arthur J. Gallagher & Co. Stock Up 0.2%

AJG opened at $259.06 on Tuesday. Arthur J. Gallagher & Co. has a twelve month low of $239.47 and a twelve month high of $351.23. The company’s 50-day moving average price is $284.03 and its two-hundred day moving average price is $304.26. The stock has a market cap of $66.53 billion, a price-to-earnings ratio of 36.80 and a beta of 0.71. 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:AJG) last issued its quarterly earnings results on Thursday, October 30th. The financial services provider reported $2.32 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.51 by ($0.19). Arthur J. Gallagher & Co. had a return on equity of 13.17% and a net margin of 14.54%.The company had revenue of $3.33 billion for the quarter, compared to analysts’ expectations of $3.34 billion. During the same quarter in the previous year, the business earned $2.26 EPS. The company’s revenue for the quarter was up 20.2% on a year-over-year basis. As a group, equities analysts expect that Arthur J. Gallagher & Co. will post 11.54 earnings per share for the current year.

Arthur J. Gallagher & Co. Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, December 19th. Stockholders of record on Friday, December 5th will be given a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date of this dividend is Friday, December 5th. Arthur J. Gallagher & Co.’s dividend payout ratio is currently 38.86%.

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