Transcendent Capital Group LLC Takes $31,000 Position in Arthur J. Gallagher & Co. (NYSE:AJG)

Transcendent Capital Group LLC purchased a new position in Arthur J. Gallagher & Co. (NYSE:AJG) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 140 shares of the financial services provider’s stock, valued at approximately $31,000.

Several other large investors have also added to or reduced their stakes in the stock. DekaBank Deutsche Girozentrale grew its stake in Arthur J. Gallagher & Co. by 3.6% in the third quarter. DekaBank Deutsche Girozentrale now owns 122,509 shares of the financial services provider’s stock worth $28,405,000 after purchasing an additional 4,225 shares during the period. Kestra Advisory Services LLC grew its holdings in Arthur J. Gallagher & Co. by 4.3% in the third quarter. Kestra Advisory Services LLC now owns 11,537 shares of the financial services provider’s stock worth $2,630,000 after purchasing an additional 479 shares during the period. QRG Capital Management Inc. bought a new position in shares of Arthur J. Gallagher & Co. during the third quarter valued at approximately $1,989,000. Envestnet Portfolio Solutions Inc. bought a new stake in shares of Arthur J. Gallagher & Co. in the 3rd quarter worth approximately $12,282,000. Finally, Envestnet Asset Management Inc. grew its stake in shares of Arthur J. Gallagher & Co. by 26.6% in 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 last quarter. Institutional investors own 85.53% of the company’s stock.

Arthur J. Gallagher & Co. Stock Performance

Shares of NYSE AJG traded down $2.54 during trading on Friday, hitting $258.24. The company had a trading volume of 637,176 shares, compared to its average volume of 779,844. Arthur J. Gallagher & Co. has a 12 month low of $209.39 and a 12 month high of $262.50. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.05 and a current ratio of 1.05. The firm has a market capitalization of $56.43 billion, a P/E ratio of 52.28, a price-to-earnings-growth ratio of 2.34 and a beta of 0.72. The stock has a 50 day simple moving average of $246.16 and a 200 day simple moving average of $241.43.

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 analysts’ consensus estimates of $3.41 by $0.08. Arthur J. Gallagher & Co. had a return on equity of 18.94% and a net margin of 10.27%. The business had revenue of $3.22 billion during the quarter, compared to analyst estimates of $3.18 billion. During the same quarter in the prior year, the business posted $3.03 EPS. Arthur J. Gallagher & Co.’s revenue for the quarter was up 20.4% compared to the same quarter last year. As a group, analysts anticipate that Arthur J. Gallagher & Co. will post 10.06 earnings per share for the current year.

Arthur J. Gallagher & Co. Announces Dividend

The business also recently announced 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. The ex-dividend date of this dividend is 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 dividend payout ratio is 48.58%.

Insider Activity at Arthur J. Gallagher & Co.

In other Arthur J. Gallagher & Co. news, Director David S. Johnson sold 850 shares of the 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 transaction, the director now owns 45,108 shares of the company’s stock, valued at approximately $11,630,646.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director David S. Johnson sold 850 shares of the firm’s stock in a transaction 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 of the company’s stock, valued at $11,630,646.72. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CAO Richard C. Cary sold 3,395 shares of the company’s stock in a transaction on Thursday, May 16th. The shares were sold at an average price of $254.00, for a total transaction of $862,330.00. Following the sale, the chief accounting officer now directly owns 38,314 shares in the company, valued at approximately $9,731,756. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 36,069 shares of company stock valued at $9,121,045. Corporate insiders own 1.60% of the company’s stock.

Analyst Ratings Changes

Several research firms have commented on AJG. Argus boosted their target price on Arthur J. Gallagher & Co. from $264.00 to $270.00 and gave the stock a “buy” rating in a report on Tuesday, May 14th. Royal Bank of Canada upped their price target on Arthur J. Gallagher & Co. from $270.00 to $282.00 and gave the company an “outperform” rating in a report on Friday, March 22nd. Keefe, Bruyette & Woods decreased their target price on Arthur J. Gallagher & Co. from $246.00 to $240.00 and set an “underperform” rating for the company in a research report on Wednesday, April 10th. Piper Sandler dropped their price target on shares of Arthur J. Gallagher & Co. from $253.00 to $252.00 and set a “neutral” rating on the stock in a report on Monday, April 29th. Finally, Truist Financial restated a “hold” rating and set a $255.00 price objective (down previously from $280.00) on shares of Arthur J. Gallagher & Co. in a research report on Wednesday, April 10th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $255.71.

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.