Arthur J. Gallagher & Co. $AJG Shares Sold by Legacy Wealth Management LLC MS

Legacy Wealth Management LLC MS trimmed its position in Arthur J. Gallagher & Co. (NYSE:AJG) by 21.9% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 10,541 shares of the financial services provider’s stock after selling 2,950 shares during the period. Arthur J. Gallagher & Co. accounts for approximately 0.6% of Legacy Wealth Management LLC MS’s investment portfolio, making the stock its 25th biggest holding. Legacy Wealth Management LLC MS’s holdings in Arthur J. Gallagher & Co. were worth $2,420,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Valeo Financial Advisors LLC lifted its position in Arthur J. Gallagher & Co. by 9.1% during the 2nd quarter. Valeo Financial Advisors LLC now owns 2,952 shares of the financial services provider’s stock worth $678,000 after acquiring an additional 246 shares during the period. Professional Advisory Services Inc. increased its holdings in shares of Arthur J. Gallagher & Co. by 11.7% in the second quarter. Professional Advisory Services Inc. now owns 108,452 shares of the financial services provider’s stock valued at $24,897,000 after purchasing an additional 11,371 shares during the period. Community Trust & Investment Co. raised its stake in shares of Arthur J. Gallagher & Co. by 1.5% in the second quarter. Community Trust & Investment Co. now owns 17,288 shares of the financial services provider’s stock worth $3,969,000 after purchasing an additional 256 shares during the last quarter. Renaissance Investment Group LLC lifted its holdings in shares of Arthur J. Gallagher & Co. by 4.8% during the second quarter. Renaissance Investment Group LLC now owns 43,844 shares of the financial services provider’s stock worth $10,065,000 after purchasing an additional 2,000 shares during the period. Finally, Czech National Bank boosted its position in Arthur J. Gallagher & Co. by 4.5% in the second quarter. Czech National Bank now owns 73,124 shares of the financial services provider’s stock valued at $16,787,000 after buying an additional 3,138 shares during the last quarter. Hedge funds and other institutional investors own 85.53% of the company’s stock.

Arthur J. Gallagher & Co. Price Performance

NYSE:AJG opened at $247.59 on Friday. The company has a quick ratio of 1.06, a current ratio of 1.05 and a debt-to-equity ratio of 0.50. Arthur J. Gallagher & Co. has a 52 week low of $190.75 and a 52 week high of $313.55. The stock’s 50-day moving average price is $236.28 and its 200-day moving average price is $224.75. The stock has a market capitalization of $63.46 billion, a PE ratio of 41.06, a price-to-earnings-growth ratio of 1.28 and a beta of 0.50.

Arthur J. Gallagher & Co. (NYSE:AJG) last released its quarterly earnings results on Thursday, July 30th. The financial services provider reported $2.84 earnings per share for the quarter, topping analysts’ consensus estimates of $2.81 by $0.03. Arthur J. Gallagher & Co. had a return on equity of 13.28% and a net margin of 9.96%.The company had revenue of $3.95 billion during the quarter, compared to analysts’ expectations of $4.01 billion. During the same quarter in the prior year, the firm posted $2.33 EPS. Arthur J. Gallagher & Co.’s quarterly revenue was up 24.3% compared to the same quarter last year. As a group, equities analysts expect that Arthur J. Gallagher & Co. will post 13.27 EPS for the current fiscal year.

Arthur J. Gallagher & Co. Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 18th. Stockholders of record on Tuesday, September 8th will be paid a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a dividend yield of 1.1%. The ex-dividend date of this dividend is Tuesday, September 8th. Arthur J. Gallagher & Co.’s dividend payout ratio is presently 46.43%.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on AJG. Piper Sandler increased their price target on shares of Arthur J. Gallagher & Co. from $276.00 to $287.00 and gave the stock an “overweight” rating in a report on Friday, July 31st. Truist Financial upped their price objective on shares of Arthur J. Gallagher & Co. from $225.00 to $265.00 and gave the company a “hold” rating in a report on Friday, July 31st. Jefferies Financial Group raised shares of Arthur J. Gallagher & Co. from a “hold” rating to a “buy” rating and raised their target price for the stock from $235.00 to $265.00 in a report on Thursday, June 11th. Morgan Stanley boosted their target price on shares of Arthur J. Gallagher & Co. from $240.00 to $255.00 and gave the company an “overweight” rating in a research report on Monday, July 6th. Finally, Mizuho increased their price target on Arthur J. Gallagher & Co. from $287.00 to $300.00 and gave the stock an “outperform” rating in a research report on Friday, July 31st. Thirteen analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat.com, Arthur J. Gallagher & Co. presently has a consensus rating of “Moderate Buy” and a consensus price target of $287.65.

Insider Activity

In related news, CAO Richard C. Cary sold 3,000 shares of Arthur J. Gallagher & Co. stock in a transaction on Tuesday, June 2nd. The shares were sold at an average price of $206.00, for a total value of $618,000.00. Following the sale, the chief accounting officer owned 47,819 shares of the company’s stock, valued at approximately $9,850,714. This trade represents a 5.90% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.40% of the stock is owned by company insiders.

Arthur J. Gallagher & Co. Company Profile

Arthur J. Gallagher & Co is a global insurance brokerage and risk management firm headquartered in Rolling Meadows, Illinois. Founded in 1927 by Arthur J. Gallagher, the company has grown from a regional broker into an international professional services organization that arranges insurance, provides consulting and designs risk-transfer solutions for commercial, industrial, public sector and individual clients.

The company’s core activities include property and casualty insurance brokerage, employee benefits consulting and administration, and a range of risk management services.