Pinnacle Wealth Management Advisory Group LLC Cuts Stock Position in Arthur J. Gallagher & Co. (NYSE:AJG)

Pinnacle Wealth Management Advisory Group LLC lessened its position in Arthur J. Gallagher & Co. (NYSE:AJG) by 5.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,026 shares of the financial services provider’s stock after selling 54 shares during the quarter. Pinnacle Wealth Management Advisory Group LLC’s holdings in Arthur J. Gallagher & Co. were worth $231,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of AJG. Beaird Harris Wealth Management LLC raised its holdings in shares of Arthur J. Gallagher & Co. by 175.6% in the 3rd quarter. Beaird Harris Wealth Management LLC now owns 113 shares of the financial services provider’s stock valued at $26,000 after buying an additional 72 shares during the period. Annis Gardner Whiting Capital Advisors LLC acquired a new position in Arthur J. Gallagher & Co. during the 3rd quarter worth $28,000. SJS Investment Consulting Inc. grew its stake in Arthur J. Gallagher & Co. by 460.9% during the 4th quarter. SJS Investment Consulting Inc. now owns 129 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 106 shares in the last quarter. Ruedi Wealth Management Inc. acquired a new position in Arthur J. Gallagher & Co. during the 4th quarter worth $33,000. Finally, Milestone Investment Advisors LLC acquired a new position in Arthur J. Gallagher & Co. during the 3rd quarter worth $45,000. Hedge funds and other institutional investors own 85.53% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on AJG. Royal Bank of Canada boosted their target price on Arthur J. Gallagher & Co. from $270.00 to $282.00 and gave the stock an “outperform” rating in a research note on Friday, March 22nd. TD Cowen upped their price objective on Arthur J. Gallagher & Co. from $249.00 to $273.00 and gave the stock a “hold” rating in a research report on Tuesday, April 2nd. Keefe, Bruyette & Woods lowered their price objective on Arthur J. Gallagher & Co. from $246.00 to $240.00 and set an “underperform” rating for the company in a research report on Wednesday, April 10th. Truist Financial reaffirmed a “hold” rating and set a $255.00 price objective (down from $280.00) on shares of Arthur J. Gallagher & Co. in a research report on Wednesday, April 10th. Finally, Piper Sandler lowered their price objective on Arthur J. Gallagher & Co. from $253.00 to $252.00 and set a “neutral” rating for the company in a research report on Monday, April 29th. One analyst has rated the stock with a sell rating, six have given a hold rating and five have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $255.31.

Arthur J. Gallagher & Co. Stock Performance

Shares of NYSE AJG traded up $2.07 during trading hours on Thursday, reaching $247.08. The stock had a trading volume of 274,254 shares, compared to its average volume of 853,898. The firm has a 50-day moving average of $243.71 and a 200-day moving average of $239.27. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.70. The firm has a market cap of $53.99 billion, a price-to-earnings ratio of 49.63, a PEG ratio of 2.23 and a beta of 0.69. Arthur J. Gallagher & Co. has a fifty-two week low of $198.52 and a fifty-two week high of $256.10.

Arthur J. Gallagher & Co. (NYSE:AJG) last posted its quarterly earnings data on Thursday, April 25th. The financial services provider reported $3.49 EPS for the quarter, beating the consensus estimate of $3.41 by $0.08. The firm had revenue of $3.22 billion during the quarter, compared to the consensus estimate of $3.18 billion. Arthur J. Gallagher & Co. had a return on equity of 18.94% and a net margin of 10.27%. The firm’s revenue was up 20.4% compared to the same quarter last year. During the same period in the prior year, the business earned $3.03 EPS. Equities research analysts predict that Arthur J. Gallagher & Co. will post 10.08 earnings per share for the current year.

Arthur J. Gallagher & Co. Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 21st. Stockholders of record on Friday, June 7th will be paid a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 0.97%. The ex-dividend date of this dividend is Friday, June 7th. Arthur J. Gallagher & Co.’s dividend payout ratio (DPR) is 48.58%.

Insider Transactions at Arthur J. Gallagher & Co.

In other news, VP Scott R. Hudson sold 15,000 shares of the stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of $255.06, for a total transaction of $3,825,900.00. Following the completion of the transaction, the vice president now directly owns 96,709 shares of the company’s stock, valued at approximately $24,666,597.54. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In related news, VP Scott R. Hudson sold 15,000 shares of the company’s stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of $255.06, for a total value of $3,825,900.00. Following the sale, the vice president now owns 96,709 shares in the company, valued at approximately $24,666,597.54. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP Joel D. Cavaness sold 1,207 shares of the company’s stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $255.20, for a total value of $308,026.40. Following the completion of the sale, the vice president now owns 2,023 shares in the company, valued at approximately $516,269.60. The disclosure for this sale can be found here. Company insiders own 1.60% of the company’s stock.

Arthur J. Gallagher & Co. Profile

Arthur J. Gallagher & Co, together with its subsidiaries, provides insurance and reinsurance brokerage, consulting, and third-party property/casualty claims settlement and administration services to entities and individuals worldwide. It operates in Brokerage and Risk Management segments. The Brokerage segment offers retail and wholesale insurance and reinsurance brokerage services; assists retail brokers and other non-affiliated brokers in the placement of specialized and hard-to-place insurance; and acts as a brokerage wholesaler, managing general agent, and managing general underwriter for distributing specialized insurance coverages to underwriting enterprises.