Assetmark Inc. Has $1.58 Million Stock Holdings in Arthur J. Gallagher & Co. (NYSE:AJG)

Assetmark Inc. lifted its position in shares of Arthur J. Gallagher & Co. (NYSE:AJG) by 67.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 7,040 shares of the financial services provider’s stock after purchasing an additional 2,832 shares during the period. Assetmark Inc.’s holdings in Arthur J. Gallagher & Co. were worth $1,583,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of AJG. Norges Bank acquired a new position in shares of Arthur J. Gallagher & Co. during the 4th quarter worth about $1,308,316,000. Brown Advisory Inc. boosted its holdings in shares of Arthur J. Gallagher & Co. by 1,210.9% during the 4th quarter. Brown Advisory Inc. now owns 1,383,480 shares of the financial services provider’s stock worth $311,117,000 after buying an additional 1,277,945 shares during the period. FMR LLC boosted its holdings in shares of Arthur J. Gallagher & Co. by 8.1% during the 3rd quarter. FMR LLC now owns 9,664,117 shares of the financial services provider’s stock worth $2,202,742,000 after buying an additional 726,485 shares during the period. Bank Julius Baer & Co. Ltd Zurich boosted its holdings in shares of Arthur J. Gallagher & Co. by 36,168.9% during the 3rd quarter. Bank Julius Baer & Co. Ltd Zurich now owns 357,974 shares of the financial services provider’s stock worth $81,593,000 after buying an additional 356,987 shares during the period. Finally, Envestnet Asset Management Inc. boosted its holdings in shares of Arthur J. Gallagher & Co. by 26.6% during the 3rd quarter. Envestnet Asset Management Inc. now owns 1,289,340 shares of the financial services provider’s stock worth $293,879,000 after buying an additional 271,225 shares during the period. 85.53% of the stock is currently owned by institutional investors and hedge funds.

Arthur J. Gallagher & Co. Stock Performance

Shares of Arthur J. Gallagher & Co. stock opened at $252.06 on Friday. The company has a 50 day moving average of $244.54 and a 200-day moving average of $240.80. Arthur J. Gallagher & Co. has a 1-year low of $198.52 and a 1-year high of $259.35. 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 company has a market cap of $55.08 billion, a PE ratio of 51.02, a price-to-earnings-growth ratio of 2.27 and a beta of 0.69.

Arthur J. Gallagher & Co. (NYSE:AJG) last issued its quarterly earnings results on Thursday, April 25th. The financial services provider reported $3.49 earnings per share for the quarter, topping analysts’ consensus estimates of $3.41 by $0.08. The company had revenue of $3.22 billion during the quarter, compared to the consensus estimate of $3.18 billion. Arthur J. Gallagher & Co. had a net margin of 10.27% and a return on equity of 18.94%. The firm’s quarterly revenue was up 20.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $3.03 EPS. As a group, equities research analysts forecast that Arthur J. Gallagher & Co. will post 10.08 earnings per share for the current fiscal year.

Arthur J. Gallagher & Co. Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 21st. Investors of record on Friday, June 7th will be given a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 0.95%. The ex-dividend date is Friday, June 7th. Arthur J. Gallagher & Co.’s dividend payout ratio is 48.58%.

Insider Buying and Selling

In related news, VP Joel D. Cavaness sold 1,207 shares of the company’s stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $255.20, for a total transaction of $308,026.40. Following the completion of the transaction, the vice president now directly owns 2,023 shares in the company, valued at approximately $516,269.60. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other Arthur J. Gallagher & Co. news, Director David S. Johnson sold 850 shares of the company’s stock in a transaction that occurred on Wednesday, May 22nd. The shares were sold at an average price of $257.84, for a total value of $219,164.00. Following the completion of the transaction, the director now directly owns 45,108 shares in the company, valued at approximately $11,630,646.72. The sale was disclosed in a filing with the SEC, which is available at 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 shares were sold at an average price of $255.20, for a total transaction of $308,026.40. Following the completion of the transaction, the vice president now owns 2,023 shares of the company’s stock, valued at $516,269.60. The disclosure for this sale can be found here. Insiders sold a total of 51,069 shares of company stock worth $12,946,945 in the last three months. 1.60% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. Bank of America lifted their target price on shares of Arthur J. Gallagher & Co. from $233.00 to $255.00 and gave the stock an “underperform” rating in a report on Wednesday. Keefe, Bruyette & Woods reduced their target price 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. Piper Sandler cut their price objective on shares of Arthur J. Gallagher & Co. from $253.00 to $252.00 and set a “neutral” rating for the company in a report on Monday, April 29th. TD Cowen boosted their price objective on shares of Arthur J. Gallagher & Co. from $249.00 to $273.00 and gave the company a “hold” rating in a report on Tuesday, April 2nd. Finally, Royal Bank of Canada boosted their price objective on shares of Arthur J. Gallagher & Co. from $270.00 to $282.00 and gave the company an “outperform” rating in a report on Friday, March 22nd. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $255.71.

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.