Woodmont Investment Counsel LLC Invests $236,000 in Arthur J. Gallagher & Co. (NYSE:AJG)

Woodmont Investment Counsel LLC purchased a new position in Arthur J. Gallagher & Co. (NYSE:AJG) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 944 shares of the financial services provider’s stock, valued at approximately $236,000.

A number of other institutional investors have also recently made changes to their positions in AJG. Pinnacle Bancorp Inc. grew its holdings in shares of Arthur J. Gallagher & Co. by 14.3% during the 4th quarter. Pinnacle Bancorp Inc. now owns 343 shares of the financial services provider’s stock valued at $77,000 after purchasing an additional 43 shares during the last quarter. Forte Capital LLC ADV grew its holdings in shares of Arthur J. Gallagher & Co. by 1.9% during the 4th quarter. Forte Capital LLC ADV now owns 2,395 shares of the financial services provider’s stock valued at $539,000 after purchasing an additional 44 shares during the last quarter. Cambridge Trust Co. grew its holdings in shares of Arthur J. Gallagher & Co. by 5.1% during the 4th quarter. Cambridge Trust Co. now owns 969 shares of the financial services provider’s stock valued at $218,000 after purchasing an additional 47 shares during the last quarter. ERn Financial LLC grew its holdings in shares of Arthur J. Gallagher & Co. by 1.9% during the 1st quarter. ERn Financial LLC now owns 2,542 shares of the financial services provider’s stock valued at $636,000 after purchasing an additional 47 shares during the last quarter. Finally, Financial Counselors Inc. grew its holdings in shares of Arthur J. Gallagher & Co. by 1.6% during the 4th quarter. Financial Counselors Inc. now owns 3,255 shares of the financial services provider’s stock valued at $732,000 after purchasing an additional 50 shares during the last quarter. Institutional investors own 85.53% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently commented on AJG shares. Keefe, Bruyette & Woods reaffirmed an “underperform” rating and set a $240.00 target price on shares of Arthur J. Gallagher & Co. in a report on Wednesday, June 26th. TD Cowen increased their price target on shares of Arthur J. Gallagher & Co. from $249.00 to $273.00 and gave the company a “hold” rating in a research report on Tuesday, April 2nd. Piper Sandler dropped their price target on shares of 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. Wells Fargo & Company increased their price target on shares of Arthur J. Gallagher & Co. from $274.00 to $282.00 and gave the company an “overweight” rating in a research report on Wednesday, June 26th. Finally, Argus increased their price target on shares of Arthur J. Gallagher & Co. from $264.00 to $270.00 and gave the company a “buy” rating in a research report on Tuesday, May 14th. Two 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 stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $263.00.

Arthur J. Gallagher & Co. Trading Up 1.0 %

NYSE:AJG opened at $261.93 on Wednesday. The company has a 50-day moving average price of $251.52 and a 200-day moving average price of $242.76. Arthur J. Gallagher & Co. has a 12 month low of $212.39 and a 12 month high of $266.39. 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 stock has a market cap of $57.23 billion, a price-to-earnings ratio of 53.02, a P/E/G ratio of 2.32 and a beta of 0.72.

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 (EPS) for the quarter, topping the consensus estimate of $3.41 by $0.08. The company had revenue of $3.22 billion during the quarter, compared to analyst estimates of $3.18 billion. Arthur J. Gallagher & Co. had a net margin of 10.27% and a return on equity of 18.94%. Arthur J. Gallagher & Co.’s quarterly revenue was up 20.4% compared to the same quarter last year. During the same period last year, the business earned $3.03 EPS. Equities analysts predict that Arthur J. Gallagher & Co. will post 10.09 EPS for the current year.

Arthur J. Gallagher & Co. Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, June 21st. Investors of record on Friday, June 7th were paid a $0.60 dividend. The ex-dividend date was Friday, June 7th. This represents a $2.40 annualized dividend and a dividend yield of 0.92%. Arthur J. Gallagher & Co.’s payout ratio is 48.58%.

Insider Buying and Selling

In related news, CFO Douglas K. Howell sold 16,000 shares of the stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $248.41, for a total value of $3,974,560.00. Following the completion of the transaction, 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 document filed with the SEC, which can be accessed through this hyperlink. In other Arthur J. Gallagher & Co. news, Director David S. Johnson sold 850 shares of the firm’s stock in a transaction dated Wednesday, May 22nd. The shares were sold at an average price of $257.84, for a total transaction of $219,164.00. Following the completion of the sale, the director now directly owns 45,108 shares in the company, valued at approximately $11,630,646.72. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Douglas K. Howell sold 16,000 shares of the firm’s stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $248.41, for a total transaction of $3,974,560.00. Following the sale, the chief financial officer now owns 80,952 shares of the company’s stock, valued at $20,109,286.32. The disclosure for this sale can be found here. Insiders sold a total of 53,165 shares of company stock worth $13,629,049 in the last three months. 1.60% of the stock is owned by corporate insiders.

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.