Ameritas Investment Partners Inc. Sells 54 Shares of Arthur J. Gallagher & Co. (NYSE:AJG)

Ameritas Investment Partners Inc. cut its holdings in Arthur J. Gallagher & Co. (NYSE:AJG) by 2.3% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,345 shares of the financial services provider’s stock after selling 54 shares during the period. Ameritas Investment Partners Inc.’s holdings in Arthur J. Gallagher & Co. were worth $586,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. UBS Group AG boosted its holdings in Arthur J. Gallagher & Co. by 8.5% in the 4th quarter. UBS Group AG now owns 361,441 shares of the financial services provider’s stock worth $81,281,000 after buying an additional 28,359 shares during the period. McGlone Suttner Wealth Management Inc. raised its position in shares of Arthur J. Gallagher & Co. by 4.0% during the 4th quarter. McGlone Suttner Wealth Management Inc. now owns 2,286 shares of the financial services provider’s stock valued at $514,000 after buying an additional 88 shares in the last quarter. Norden Group LLC purchased a new stake in shares of Arthur J. Gallagher & Co. during the 1st quarter valued at $3,841,000. Brookstone Capital Management raised its position in shares of Arthur J. Gallagher & Co. by 70.4% during the 1st quarter. Brookstone Capital Management now owns 12,851 shares of the financial services provider’s stock valued at $3,213,000 after buying an additional 5,308 shares in the last quarter. Finally, Mackenzie Financial Corp raised its position in shares of Arthur J. Gallagher & Co. by 16.1% during the 4th quarter. Mackenzie Financial Corp now owns 112,087 shares of the financial services provider’s stock valued at $25,206,000 after buying an additional 15,528 shares in the last quarter. 85.53% of the stock is owned by institutional investors.

Arthur J. Gallagher & Co. Stock Up 0.6 %

Arthur J. Gallagher & Co. stock traded up $1.65 during trading hours on Wednesday, hitting $274.87. The stock had a trading volume of 827,030 shares, compared to its average volume of 843,647. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.70. The stock has a market capitalization of $60.06 billion, a P/E ratio of 55.31, a price-to-earnings-growth ratio of 2.43 and a beta of 0.72. Arthur J. Gallagher & Co. has a 12-month low of $214.13 and a 12-month high of $276.76. The stock’s 50-day moving average price is $260.00 and its 200-day moving average price is $247.70.

Arthur J. Gallagher & Co. (NYSE:AJG) last issued its earnings results on Thursday, April 25th. The financial services provider reported $3.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.41 by $0.08. Arthur J. Gallagher & Co. had a net margin of 10.27% and a return on equity of 18.94%. The business had revenue of $3.22 billion during the quarter, compared to analysts’ expectations of $3.18 billion. During the same period in the previous year, the company earned $3.03 earnings per share. The business’s revenue for the quarter was up 20.4% compared to the same quarter last year. Equities research analysts anticipate that Arthur J. Gallagher & Co. will post 10.1 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts recently commented on the stock. Wells Fargo & Company lifted their target price on shares of Arthur J. Gallagher & Co. from $274.00 to $282.00 and gave the stock an “overweight” rating in a research report on Wednesday, June 26th. Truist Financial reissued a “hold” rating and issued a $255.00 price target (down previously from $280.00) on shares of Arthur J. Gallagher & Co. in a report on Wednesday, April 10th. TD Cowen raised their price target on shares of Arthur J. Gallagher & Co. from $249.00 to $273.00 and gave the stock a “hold” rating in a report on Tuesday, April 2nd. Argus raised their price target on shares of Arthur J. Gallagher & Co. from $264.00 to $270.00 and gave the stock a “buy” rating in a report on Tuesday, May 14th. Finally, Royal Bank of Canada lifted their target price on shares of Arthur J. Gallagher & Co. from $282.00 to $290.00 and gave the company an “outperform” rating in a research note on Wednesday, June 26th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Arthur J. Gallagher & Co. currently has a consensus rating of “Hold” and a consensus target price of $263.00.

Insider Activity

In other news, VP Scott R. Hudson sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, June 18th. The shares were sold at an average price of $263.45, for a total transaction of $2,634,500.00. Following the completion of the transaction, the vice president now directly owns 93,730 shares of the company’s stock, valued at $24,693,168.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, General Counsel Walter D. Bay sold 800 shares of the business’s stock in a transaction that occurred on Monday, May 20th. The shares were sold at an average price of $257.24, for a total transaction of $205,792.00. Following the completion of the sale, the general counsel now directly owns 44,691 shares in the company, valued at $11,496,312.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Scott R. Hudson sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, June 18th. The shares were sold at an average price of $263.45, for a total transaction of $2,634,500.00. Following the sale, the vice president now owns 93,730 shares of the company’s stock, valued at $24,693,168.50. The disclosure for this sale can be found here. Insiders sold 53,165 shares of company stock valued at $13,629,049 over the last three months. Insiders own 1.60% of the company’s stock.

About Arthur J. Gallagher & Co.

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.