Trust Co. of Virginia VA Decreases Stock Position in Arthur J. Gallagher & Co. (NYSE:AJG)

Trust Co. of Virginia VA trimmed its position in Arthur J. Gallagher & Co. (NYSE:AJG) by 3.4% during the first quarter, Holdings Channel.com reports. The firm owned 2,128 shares of the financial services provider’s stock after selling 75 shares during the period. Trust Co. of Virginia VA’s holdings in Arthur J. Gallagher & Co. were worth $532,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the company. OneAscent Financial Services LLC boosted its stake in shares of Arthur J. Gallagher & Co. by 22.5% during the 1st quarter. OneAscent Financial Services LLC now owns 2,787 shares of the financial services provider’s stock worth $697,000 after purchasing an additional 511 shares during the last quarter. OneAscent Wealth Management LLC boosted its stake in shares of Arthur J. Gallagher & Co. by 9.4% during the 1st quarter. OneAscent Wealth Management LLC now owns 1,380 shares of the financial services provider’s stock worth $345,000 after purchasing an additional 119 shares during the last quarter. ERn Financial LLC boosted its stake 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 worth $636,000 after purchasing an additional 47 shares during the last quarter. Aspiriant LLC acquired a new stake in shares of Arthur J. Gallagher & Co. during the 1st quarter worth about $212,000. Finally, Brookstone Capital Management boosted its stake in shares of Arthur J. Gallagher & Co. by 70.4% during the 1st quarter. Brookstone Capital Management now owns 12,851 shares of the financial services provider’s stock worth $3,213,000 after purchasing an additional 5,308 shares during the last quarter. 85.53% of the stock is owned by institutional investors and hedge funds.

Arthur J. Gallagher & Co. Stock Down 0.3 %

NYSE:AJG traded down $0.82 during trading hours on Friday, hitting $259.31. The stock had a trading volume of 1,393,176 shares, compared to its average volume of 978,833. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.70. Arthur J. Gallagher & Co. has a 1-year low of $210.86 and a 1-year high of $266.39. The business has a 50 day simple moving average of $251.09 and a two-hundred day simple moving average of $242.59. The company has a market cap of $56.66 billion, a PE ratio of 52.49, a price-to-earnings-growth ratio of 2.33 and a beta of 0.72.

Arthur J. Gallagher & Co. (NYSE:AJG) last issued its quarterly earnings data on Thursday, April 25th. The financial services provider reported $3.49 earnings per share (EPS) for the quarter, beating the consensus estimate 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 during the quarter, compared to the consensus estimate of $3.18 billion. During the same quarter last year, the company earned $3.03 earnings per share. Arthur J. Gallagher & Co.’s revenue for the quarter was up 20.4% on a year-over-year basis. Analysts predict that Arthur J. Gallagher & Co. will post 10.08 EPS for the current year.

Arthur J. Gallagher & Co. Announces Dividend

The business also recently declared 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. This represents a $2.40 dividend on an annualized basis and a dividend yield of 0.93%. The ex-dividend date of this dividend was Friday, June 7th. Arthur J. Gallagher & Co.’s payout ratio is currently 48.58%.

Analysts Set New Price Targets

Several research analysts have recently weighed in on AJG shares. Bank of America increased their price objective on shares of Arthur J. Gallagher & Co. from $233.00 to $255.00 and gave the stock an “underperform” rating in a report on Wednesday, May 22nd. Wells Fargo & Company increased their price objective on shares of Arthur J. Gallagher & Co. from $274.00 to $282.00 and gave the stock an “overweight” rating in a report on Wednesday. Truist Financial reiterated a “hold” rating and set a $255.00 price objective (down from $280.00) on shares of Arthur J. Gallagher & Co. in a report on Wednesday, April 10th. Piper Sandler cut their price objective 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, Argus increased their price objective on shares of Arthur J. Gallagher & Co. from $264.00 to $270.00 and gave the stock a “buy” rating in a report on Tuesday, May 14th. Two analysts have rated the stock with a sell rating, six have given a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, Arthur J. Gallagher & Co. currently has an average rating of “Hold” and a consensus price target of $263.00.

Insider Transactions at Arthur J. Gallagher & Co.

In other news, General Counsel Walter D. Bay sold 8,717 shares of the firm’s stock in a transaction that occurred on Friday, May 17th. The shares were sold at an average price of $257.00, for a total transaction of $2,240,269.00. Following the completion of the sale, the general counsel now owns 44,691 shares of the company’s stock, valued at $11,485,587. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other Arthur J. Gallagher & Co. news, CFO Douglas K. Howell sold 16,000 shares of the firm’s stock in a transaction on Friday, May 10th. The stock was sold at an average price of $248.41, for a total value of $3,974,560.00. Following the sale, the chief financial officer now directly owns 80,952 shares in the company, valued at $20,109,286.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, General Counsel Walter D. Bay sold 8,717 shares of the firm’s stock in a transaction on Friday, May 17th. The shares were sold at an average price of $257.00, for a total value of $2,240,269.00. Following the completion of the sale, the general counsel now owns 44,691 shares in the company, valued at $11,485,587. The disclosure for this sale can be found here. Over the last quarter, insiders sold 53,165 shares of company stock valued at $13,629,049. 1.60% of the stock is currently 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.