IFP Advisors Inc Buys 317 Shares of Arthur J. Gallagher & Co. (NYSE:AJG)

Posted by on May 12th, 2023

IFP Advisors Inc boosted its stake in shares of Arthur J. Gallagher & Co. (NYSE:AJG – Get Rating) by 11.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,124 shares of the financial services provider’s stock after purchasing an additional 317 shares during the period. IFP Advisors Inc’s holdings in Arthur J. Gallagher & Co. were worth $198,000 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. Shell Asset Management Co. purchased a new stake in Arthur J. Gallagher & Co. during the fourth quarter valued at approximately $404,000. Envestnet Asset Management Inc. increased its holdings in Arthur J. Gallagher & Co. by 0.6% during the fourth quarter. Envestnet Asset Management Inc. now owns 956,616 shares of the financial services provider’s stock valued at $180,360,000 after buying an additional 5,626 shares during the last quarter. WCM Investment Management LLC increased its holdings in Arthur J. Gallagher & Co. by 5.6% during the fourth quarter. WCM Investment Management LLC now owns 2,688,886 shares of the financial services provider’s stock valued at $506,963,000 after buying an additional 141,783 shares during the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. increased its holdings in Arthur J. Gallagher & Co. by 11.7% during the fourth quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 148,831 shares of the financial services provider’s stock valued at $27,870,000 after buying an additional 15,628 shares during the last quarter. Finally, Oak Thistle LLC purchased a new stake in Arthur J. Gallagher & Co. during the fourth quarter valued at approximately $344,000. Institutional investors own 82.07% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on AJG shares. StockNews.com started coverage on shares of Arthur J. Gallagher & Co. in a research note on Thursday, March 16th. They issued a “hold” rating for the company. Argus increased their price objective on shares of Arthur J. Gallagher & Co. from $228.00 to $232.00 in a research note on Monday, May 1st. BMO Capital Markets started coverage on shares of Arthur J. Gallagher & Co. in a research note on Thursday, January 19th. They issued an “outperform” rating and a $211.00 price objective for the company. Wells Fargo & Company increased their price objective on shares of Arthur J. Gallagher & Co. from $215.00 to $233.00 and gave the stock an “overweight” rating in a research note on Friday, January 27th. Finally, Keefe, Bruyette & Woods reduced their price objective on shares of Arthur J. Gallagher & Co. from $213.00 to $211.00 and set a “market perform” rating for the company in a research note on Friday, March 17th. Four analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $217.71.

Insider Buying and Selling at Arthur J. Gallagher & Co.

In other news, VP Scott R. Hudson sold 18,700 shares of the firm’s stock in a transaction dated Monday, March 6th. The shares were sold at an average price of $190.66, for a total value of $3,565,342.00. Following the completion of the sale, the vice president now owns 42,231 shares in the company, valued at approximately $8,051,762.46. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, VP Scott R. Hudson sold 18,700 shares of the firm’s stock in a transaction dated Monday, March 6th. The shares were sold at an average price of $190.66, for a total value of $3,565,342.00. Following the completion of the sale, the vice president now owns 42,231 shares in the company, valued at approximately $8,051,762.46. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Douglas K. Howell sold 2,850 shares of the firm’s stock in a transaction dated Friday, March 17th. The stock was sold at an average price of $180.98, for a total transaction of $515,793.00. Following the completion of the sale, the chief financial officer now owns 90,715 shares of the company’s stock, valued at approximately $16,417,600.70. The disclosure for this sale can be found here. Insiders sold 122,150 shares of company stock worth $25,185,179 over the last 90 days. 1.40% of the stock is owned by insiders.

Arthur J. Gallagher & Co. Price Performance

AJG stock opened at $216.81 on Friday. Arthur J. Gallagher & Co. has a 52 week low of $148.24 and a 52 week high of $218.10. The company has a quick ratio of 1.04, a current ratio of 1.06 and a debt-to-equity ratio of 0.61. The company has a fifty day simple moving average of $196.89 and a two-hundred day simple moving average of $193.15. The firm has a market capitalization of $46.33 billion, a P/E ratio of 40.22, a price-to-earnings-growth ratio of 2.31 and a beta of 0.69.

Arthur J. Gallagher & Co. Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 16th. Shareholders of record on Friday, June 2nd will be given a dividend of $0.55 per share. The ex-dividend date is Thursday, June 1st. This represents a $2.20 annualized dividend and a yield of 1.01%. Arthur J. Gallagher & Co.’s dividend payout ratio (DPR) is currently 40.82%.

Arthur J. Gallagher & Co. Profile

(Get Rating)

Arthur J. Gallagher & Co engages in the provision of insurance 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.

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

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