Marks Group Wealth Management Inc Lowers Position in Arthur J. Gallagher & Co. (NYSE:AJG)

Marks Group Wealth Management Inc lessened its stake in Arthur J. Gallagher & Co. (NYSE:AJG) by 4.7% during the third quarter, Holdings Channel reports. The firm owned 30,546 shares of the financial services provider’s stock after selling 1,516 shares during the period. Marks Group Wealth Management Inc’s holdings in Arthur J. Gallagher & Co. were worth $8,595,000 at the end of the most recent quarter.

Several other institutional investors also recently made changes to their positions in the stock. Mark Sheptoff Financial Planning LLC acquired a new position in shares of Arthur J. Gallagher & Co. in the 2nd quarter valued at about $26,000. Strategic Investment Solutions Inc. IL purchased a new stake in Arthur J. Gallagher & Co. during the second quarter worth approximately $26,000. Creekmur Asset Management LLC acquired a new stake in shares of Arthur J. Gallagher & Co. in the first quarter worth $27,000. DiNuzzo Private Wealth Inc. raised its stake in shares of Arthur J. Gallagher & Co. by 89.7% in the 2nd quarter. DiNuzzo Private Wealth Inc. now owns 110 shares of the financial services provider’s stock valued at $29,000 after acquiring an additional 52 shares during the period. Finally, Quarry LP acquired a new position in shares of Arthur J. Gallagher & Co. during the 2nd quarter valued at $29,000. 85.53% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Arthur J. Gallagher & Co.

In related news, VP Christopher E. Mead sold 2,800 shares of the business’s stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $287.00, for a total transaction of $803,600.00. Following the completion of the sale, the vice president now owns 14,674 shares of the company’s stock, valued at $4,211,438. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, President Thomas Joseph Gallagher sold 15,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $282.96, for a total value of $4,244,400.00. Following the sale, the president now owns 329,099 shares of the company’s stock, valued at approximately $93,121,853.04. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Christopher E. Mead sold 2,800 shares of the company’s stock in a transaction on Monday, October 28th. The stock was sold at an average price of $287.00, for a total value of $803,600.00. Following the transaction, the vice president now owns 14,674 shares of the company’s stock, valued at approximately $4,211,438. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 38,900 shares of company stock worth $11,136,680. 1.60% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several research firms have commented on AJG. Bank Of America (Bofa) raised their price objective on Arthur J. Gallagher & Co. from $255.00 to $265.00 and gave the company an “underperform” rating in a research report on Friday, July 26th. TD Cowen boosted their price target on Arthur J. Gallagher & Co. from $273.00 to $288.00 and gave the stock a “hold” rating in a research report on Tuesday, August 13th. UBS Group increased their price objective on shares of Arthur J. Gallagher & Co. from $260.00 to $292.00 and gave the company a “neutral” rating in a research report on Wednesday, July 31st. Bank of America boosted their target price on shares of Arthur J. Gallagher & Co. from $271.00 to $293.00 and gave the stock an “underperform” rating in a research report on Thursday, October 10th. Finally, BMO Capital Markets raised their price target on shares of Arthur J. Gallagher & Co. from $275.00 to $295.00 and gave the company an “outperform” rating in a report on Friday, July 26th. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, Arthur J. Gallagher & Co. currently has a consensus rating of “Hold” and a consensus target price of $287.00.

Arthur J. Gallagher & Co. Stock Performance

Shares of AJG stock opened at $283.14 on Wednesday. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.06 and a current ratio of 1.06. The stock has a market capitalization of $62.12 billion, a price-to-earnings ratio of 53.93, a PEG ratio of 2.39 and a beta of 0.72. Arthur J. Gallagher & Co. has a one year low of $218.63 and a one year high of $301.04. The company’s 50-day simple moving average is $288.45 and its 200-day simple moving average is $271.97.

Arthur J. Gallagher & Co. (NYSE:AJG) last issued its earnings results on Thursday, October 24th. The financial services provider reported $2.26 EPS for the quarter, hitting the consensus estimate of $2.26. Arthur J. Gallagher & Co. had a return on equity of 19.12% and a net margin of 10.40%. The company had revenue of $2.77 billion during the quarter, compared to analyst estimates of $2.78 billion. During the same quarter last year, the firm earned $2.00 EPS. The business’s revenue was up 12.8% on a year-over-year basis. Equities analysts anticipate that Arthur J. Gallagher & Co. will post 10.11 earnings per share for the current fiscal year.

Arthur J. Gallagher & Co. Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Friday, December 6th will be paid a dividend of $0.60 per share. The ex-dividend date is Friday, December 6th. This represents a $2.40 annualized dividend and a yield of 0.85%. Arthur J. Gallagher & Co.’s payout ratio is 45.71%.

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.