Capital Asset Advisory Services LLC Sells 710 Shares of Arthur J. Gallagher & Co. (NYSE:AJG)

Capital Asset Advisory Services LLC decreased its stake in shares of Arthur J. Gallagher & Co. (NYSE:AJG) by 22.4% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,464 shares of the financial services provider’s stock after selling 710 shares during the quarter. Capital Asset Advisory Services LLC’s holdings in Arthur J. Gallagher & Co. were worth $601,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Beaird Harris Wealth Management LLC increased its position in shares of Arthur J. Gallagher & Co. by 175.6% during the 3rd quarter. Beaird Harris Wealth Management LLC now owns 113 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 72 shares during the last quarter. Richardson Financial Services Inc. acquired a new position in shares of Arthur J. Gallagher & Co. during the 4th quarter worth approximately $27,000. SJS Investment Consulting Inc. increased its holdings in shares of 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 acquiring an additional 106 shares during the last quarter. Transcendent Capital Group LLC acquired a new position in shares of Arthur J. Gallagher & Co. during the 4th quarter worth approximately $31,000. Finally, Ruedi Wealth Management Inc. acquired a new position in shares of Arthur J. Gallagher & Co. during the 4th quarter worth approximately $33,000. Institutional investors and hedge funds own 85.53% of the company’s stock.

Arthur J. Gallagher & Co. Stock Performance

NYSE:AJG opened at $259.31 on Friday. The stock has a fifty day moving average price of $251.09 and a 200-day moving average price of $242.59. The company has a market cap of $56.66 billion, a price-to-earnings ratio of 52.49, a PEG ratio of 2.29 and a beta of 0.72. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.05 and a current ratio of 1.05. Arthur J. Gallagher & Co. has a fifty-two week low of $210.86 and a fifty-two week high of $266.39.

Arthur J. Gallagher & Co. (NYSE:AJG) last released its earnings results on Thursday, April 25th. The financial services provider reported $3.49 earnings per share for the quarter, beating analysts’ consensus estimates 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 company’s revenue was up 20.4% compared to the same quarter last year. During the same period in the prior year, the company posted $3.03 EPS. As a group, equities analysts anticipate that Arthur J. Gallagher & Co. will post 10.07 EPS for the current fiscal year.

Arthur J. Gallagher & Co. Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 21st. Stockholders of record on Friday, June 7th were given a dividend of $0.60 per share. The ex-dividend date of this dividend was Friday, June 7th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 0.93%. Arthur J. Gallagher & Co.’s payout ratio is 48.58%.

Insider Activity

In other news, General Counsel Walter D. Bay sold 8,303 shares of the company’s stock in a transaction on Tuesday, June 18th. The stock was sold at an average price of $262.74, for a total transaction of $2,181,530.22. Following the completion of the sale, the general counsel now directly owns 36,388 shares in the company, valued at approximately $9,560,583.12. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, CFO Douglas K. Howell sold 16,000 shares of the company’s stock in a transaction on Friday, May 10th. The stock was sold at an average price of $248.41, for a total transaction of $3,974,560.00. Following the completion of the sale, the chief financial officer now directly owns 80,952 shares in the company, valued at approximately $20,109,286.32. The sale was disclosed in a filing with the SEC, which is available through this link. Also, General Counsel Walter D. Bay sold 8,303 shares of the company’s stock in a transaction on Tuesday, June 18th. The stock was sold at an average price of $262.74, for a total value of $2,181,530.22. Following the sale, the general counsel now owns 36,388 shares of the company’s stock, valued at $9,560,583.12. The disclosure for this sale can be found here. In the last three months, insiders sold 53,165 shares of company stock worth $13,629,049. 1.60% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on AJG. Keefe, Bruyette & Woods reissued an “underperform” rating and set a $240.00 target price on shares of Arthur J. Gallagher & Co. in a report on Wednesday. Truist Financial reissued a “hold” rating and set a $255.00 target price (down from $280.00) on shares of Arthur J. Gallagher & Co. in a report on Wednesday, April 10th. TD Cowen boosted their target price on Arthur J. Gallagher & Co. from $249.00 to $273.00 and gave the stock a “hold” rating in a report on Tuesday, April 2nd. Wells Fargo & Company boosted their target price on Arthur J. Gallagher & Co. from $274.00 to $282.00 and gave the stock an “overweight” rating in a report on Wednesday. Finally, Bank of America boosted their target price on Arthur J. Gallagher & Co. from $233.00 to $255.00 and gave the stock an “underperform” rating in a report on Wednesday, May 22nd. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, Arthur J. Gallagher & Co. has an average rating of “Hold” and a consensus price target of $263.00.

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.