Mission Wealth Management LP Boosts Holdings in Arthur J. Gallagher & Co. (NYSE:AJG)

Mission Wealth Management LP increased its position in Arthur J. Gallagher & Co. (NYSE:AJG) by 21.8% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,405 shares of the financial services provider’s stock after purchasing an additional 251 shares during the quarter. Mission Wealth Management LP’s holdings in Arthur J. Gallagher & Co. were worth $316,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the company. McGlone Suttner Wealth Management Inc. grew its stake in shares of Arthur J. Gallagher & Co. by 4.0% during the fourth quarter. McGlone Suttner Wealth Management Inc. now owns 2,286 shares of the financial services provider’s stock valued at $514,000 after acquiring an additional 88 shares in the last quarter. Fidelis Capital Partners LLC grew its stake in Arthur J. Gallagher & Co. by 3.7% during the 3rd quarter. Fidelis Capital Partners LLC now owns 1,325 shares of the financial services provider’s stock valued at $302,000 after purchasing an additional 47 shares in the last quarter. Mackenzie Financial Corp increased its holdings in 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 worth $25,206,000 after purchasing an additional 15,528 shares during the last quarter. Louisiana State Employees Retirement System purchased a new position in shares of Arthur J. Gallagher & Co. during the 4th quarter valued at approximately $2,946,000. Finally, Legato Capital Management LLC grew its position in shares of Arthur J. Gallagher & Co. by 43.7% during the fourth quarter. Legato Capital Management LLC now owns 13,495 shares of the financial services provider’s stock worth $3,035,000 after buying an additional 4,102 shares in the last quarter. 85.53% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. Keefe, Bruyette & Woods decreased their price objective on shares of Arthur J. Gallagher & Co. from $246.00 to $240.00 and set an “underperform” rating for the company in a report on Wednesday, April 10th. Royal Bank of Canada boosted their price target on Arthur J. Gallagher & Co. from $270.00 to $282.00 and gave the company an “outperform” rating in a report on Friday, March 22nd. TD Cowen lifted their price objective 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. Piper Sandler reduced their price target on shares of Arthur J. Gallagher & Co. from $253.00 to $252.00 and set a “neutral” rating on the stock in a research report on Monday, April 29th. Finally, Truist Financial reaffirmed a “hold” rating and set a $255.00 price objective (down previously from $280.00) on shares of Arthur J. Gallagher & Co. in a research report on Wednesday, April 10th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $255.31.

Arthur J. Gallagher & Co. Stock Performance

AJG stock opened at $238.62 on Friday. The company has a 50-day simple moving average of $243.83 and a 200 day simple moving average of $239.00. The company has a market capitalization of $52.09 billion, a P/E ratio of 48.30, a PEG ratio of 2.23 and a beta of 0.69. The company has a quick ratio of 1.03, a current ratio of 1.05 and a debt-to-equity ratio of 0.70. 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 earnings per share (EPS) for the quarter, beating 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 last year, the firm posted $3.03 earnings per share. The business’s revenue was up 20.4% on a year-over-year basis. Sell-side analysts predict that Arthur J. Gallagher & Co. will post 10.08 earnings per share for the current fiscal year.

Arthur J. Gallagher & Co. Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 21st. Investors of record on Friday, June 7th will be issued a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 1.01%. The ex-dividend date is Friday, June 7th. Arthur J. Gallagher & Co.’s payout ratio is currently 48.58%.

Insiders Place Their Bets

In related news, Director David S. Johnson sold 500 shares of the stock in a transaction that occurred on Tuesday, February 6th. The shares were sold at an average price of $234.04, for a total transaction of $117,020.00. Following the completion of the sale, the director now directly owns 45,038 shares of the company’s stock, valued at $10,540,693.52. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, Director David S. Johnson sold 500 shares of the firm’s stock in a transaction on Tuesday, February 6th. The stock was sold at an average price of $234.04, for a total transaction of $117,020.00. Following the completion of the sale, the director now directly owns 45,038 shares of the company’s stock, valued at approximately $10,540,693.52. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, VP Thomas Joseph Gallagher sold 12,309 shares of the business’s stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $237.65, for a total value of $2,925,233.85. Following the sale, the vice president now directly owns 322,797 shares in the company, valued at $76,712,707.05. The disclosure for this sale can be found here. Over the last three months, insiders have sold 29,016 shares of company stock worth $7,176,180. 1.60% of the stock is owned by corporate insiders.

Arthur J. Gallagher & Co. Company 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.