Cynosure Group LLC Acquires Shares of 1,236 Arthur J. Gallagher & Co. (NYSE:AJG)

Cynosure Group LLC bought a new position in shares of Arthur J. Gallagher & Co. (NYSE:AJG) during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 1,236 shares of the financial services provider’s stock, valued at approximately $309,000.

Several other large investors have also recently bought and sold shares of AJG. Dynamic Advisor Solutions LLC grew its holdings in Arthur J. Gallagher & Co. by 20.9% during the 4th quarter. Dynamic Advisor Solutions LLC now owns 1,713 shares of the financial services provider’s stock worth $386,000 after acquiring an additional 296 shares during the period. Brookstone Capital Management boosted its position in shares of Arthur J. Gallagher & Co. by 10.7% in the 4th quarter. Brookstone Capital Management now owns 7,543 shares of the financial services provider’s stock worth $1,696,000 after purchasing an additional 730 shares during the last quarter. Lantz Financial LLC acquired a new stake in shares of Arthur J. Gallagher & Co. during the fourth quarter worth $329,000. GPS Wealth Strategies Group LLC increased its holdings in Arthur J. Gallagher & Co. by 2.8% in the fourth quarter. GPS Wealth Strategies Group LLC now owns 3,329 shares of the financial services provider’s stock valued at $749,000 after purchasing an additional 92 shares during the last quarter. Finally, HB Wealth Management LLC grew its position in shares of Arthur J. Gallagher & Co. by 4.3% during the 4th quarter. HB Wealth Management LLC now owns 2,221 shares of the financial services provider’s stock worth $499,000 after buying an additional 91 shares during the period. Institutional investors and hedge funds own 85.53% of the company’s stock.

Insider Activity

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

Arthur J. Gallagher & Co. Stock Up 1.0 %

AJG traded up $2.76 during trading hours on Tuesday, hitting $274.52. 169,017 shares of the company’s stock were exchanged, compared to its average volume of 841,688. The stock’s 50-day moving average is $259.55 and its two-hundred day moving average is $247.36. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.70. Arthur J. Gallagher & Co. has a 1-year low of $214.13 and a 1-year high of $276.38. The stock has a market cap of $59.98 billion, a price-to-earnings ratio of 55.76, a PEG ratio of 2.41 and a beta of 0.72.

Arthur J. Gallagher & Co. (NYSE:AJG) last issued its earnings results on Thursday, April 25th. The financial services provider reported $3.49 earnings per share (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 firm earned $3.03 EPS. Arthur J. Gallagher & Co.’s quarterly revenue was up 20.4% compared to the same quarter last year. Sell-side analysts predict that Arthur J. Gallagher & Co. will post 10.1 earnings per share for the current fiscal year.

Arthur J. Gallagher & Co. Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 21st. Shareholders of record on Friday, June 7th were given a dividend of $0.60 per share. The ex-dividend date was Friday, June 7th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 0.87%. Arthur J. Gallagher & Co.’s payout ratio is presently 48.58%.

Analyst Upgrades and Downgrades

AJG has been the topic of several analyst reports. Keefe, Bruyette & Woods reiterated an “underperform” rating and issued a $240.00 target price on shares of Arthur J. Gallagher & Co. in a report on Wednesday, June 26th. Piper Sandler dropped their price target on Arthur J. Gallagher & Co. from $253.00 to $252.00 and set a “neutral” rating on the stock in a research report on Monday, April 29th. Bank of America boosted their price objective on Arthur J. Gallagher & Co. from $233.00 to $255.00 and gave the company an “underperform” rating in a research report on Wednesday, May 22nd. TD Cowen raised their target price on shares of 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, Truist Financial reiterated a “hold” rating and issued a $255.00 price target (down previously from $280.00) on shares of Arthur J. Gallagher & Co. in a report on Wednesday, April 10th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, Arthur J. Gallagher & Co. has a consensus rating of “Hold” and a consensus price target of $263.00.

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.