McKinley Carter Wealth Services Inc. Acquires 3,967 Shares of Arthur J. Gallagher & Co. (NYSE:AJG)

McKinley Carter Wealth Services Inc. grew its holdings in shares of Arthur J. Gallagher & Co. (NYSE:AJG) by 15.9% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 28,853 shares of the financial services provider’s stock after acquiring an additional 3,967 shares during the period. McKinley Carter Wealth Services Inc.’s holdings in Arthur J. Gallagher & Co. were worth $6,488,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Beaird Harris Wealth Management LLC raised its holdings in 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. Annis Gardner Whiting Capital Advisors LLC acquired a new stake in Arthur J. Gallagher & Co. during the third quarter worth approximately $28,000. SJS Investment Consulting Inc. increased its holdings in Arthur J. Gallagher & Co. by 460.9% in the fourth quarter. SJS Investment Consulting Inc. now owns 129 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 106 shares in the last quarter. Ruedi Wealth Management Inc. bought a new position in shares of Arthur J. Gallagher & Co. during the 4th quarter worth approximately $33,000. Finally, Milestone Investment Advisors LLC acquired a new stake in shares of Arthur J. Gallagher & Co. during the 3rd quarter worth approximately $45,000. Institutional investors and hedge funds own 85.53% of the company’s stock.

Insiders Place Their Bets

In other Arthur J. Gallagher & Co. news, VP Scott R. Hudson sold 15,000 shares of the stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $255.06, for a total value of $3,825,900.00. Following the sale, the vice president now directly owns 96,709 shares in the company, valued at approximately $24,666,597.54. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 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 value of $308,026.40. Following the transaction, the vice president now directly owns 2,023 shares in the company, valued at $516,269.60. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP Scott R. Hudson sold 15,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $255.06, for a total transaction of $3,825,900.00. Following the completion of the sale, the vice president now directly owns 96,709 shares in the company, valued at $24,666,597.54. The disclosure for this sale can be found here. 1.60% of the stock is owned by corporate insiders.

Arthur J. Gallagher & Co. Stock Performance

Arthur J. Gallagher & Co. stock traded up $3.26 during midday trading on Friday, reaching $250.82. The stock had a trading volume of 582,177 shares, compared to its average volume of 805,371. The firm has a market capitalization of $54.80 billion, a PE ratio of 50.77, a P/E/G ratio of 2.34 and a beta of 0.69. Arthur J. Gallagher & Co. has a 12 month low of $198.52 and a 12 month high of $256.10. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.70. The firm’s 50-day moving average price is $243.92 and its 200 day moving average price is $239.59.

Arthur J. Gallagher & Co. (NYSE:AJG) last announced its quarterly earnings results on Thursday, April 25th. The financial services provider reported $3.49 EPS for the quarter, beating analysts’ consensus estimates 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 company had revenue of $3.22 billion for the quarter, compared to analysts’ expectations of $3.18 billion. During the same period in the prior year, the company posted $3.03 EPS. Arthur J. Gallagher & Co.’s revenue was up 20.4% compared to the same quarter last year. As a group, research analysts predict 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 issued a dividend of $0.60 per share. The ex-dividend date of this dividend is Friday, June 7th. This represents a $2.40 dividend on an annualized basis and a yield of 0.96%. Arthur J. Gallagher & Co.’s dividend payout ratio (DPR) is 48.58%.

Analyst Ratings Changes

AJG has been the topic of several research analyst reports. Royal Bank of Canada increased their target price on shares of Arthur J. Gallagher & Co. from $270.00 to $282.00 and gave the stock an “outperform” rating in a research note on Friday, March 22nd. Keefe, Bruyette & Woods cut their price target on Arthur J. Gallagher & Co. from $246.00 to $240.00 and set an “underperform” rating for the company in a research note on Wednesday, April 10th. Truist Financial reissued a “hold” rating and issued a $255.00 price objective (down from $280.00) on shares of Arthur J. Gallagher & Co. in a research note on Wednesday, April 10th. TD Cowen upped their price target 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. Finally, Piper Sandler dropped their price objective on Arthur J. Gallagher & Co. from $253.00 to $252.00 and set a “neutral” rating on the stock in a research note on Monday, April 29th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $255.31.

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.