Axxcess Wealth Management LLC Has $2.50 Million Holdings in Arthur J. Gallagher & Co. (NYSE:AJG)

Axxcess Wealth Management LLC boosted its holdings in Arthur J. Gallagher & Co. (NYSE:AJG) by 29.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,820 shares of the financial services provider’s stock after purchasing an additional 1,983 shares during the period. Axxcess Wealth Management LLC’s holdings in Arthur J. Gallagher & Co. were worth $2,504,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in AJG. Principal Financial Group Inc. grew its holdings in shares of Arthur J. Gallagher & Co. by 126.2% in the 4th quarter. Principal Financial Group Inc. now owns 2,003,237 shares of the financial services provider’s stock valued at $568,619,000 after acquiring an additional 1,117,441 shares in the last quarter. FMR LLC grew its stake in Arthur J. Gallagher & Co. by 4.9% in the third quarter. FMR LLC now owns 12,305,478 shares of the financial services provider’s stock valued at $3,462,392,000 after purchasing an additional 580,134 shares in the last quarter. Raymond James Financial Inc. acquired a new position in shares of Arthur J. Gallagher & Co. during the 4th quarter worth approximately $163,087,000. Burkehill Global Management LP acquired a new stake in shares of Arthur J. Gallagher & Co. in the 4th quarter valued at approximately $156,118,000. Finally, Assenagon Asset Management S.A. grew its stake in shares of Arthur J. Gallagher & Co. by 6,581.9% in the fourth quarter. Assenagon Asset Management S.A. now owns 437,464 shares of the financial services provider’s stock valued at $124,174,000 after buying an additional 430,917 shares in the last quarter. 85.53% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Arthur J. Gallagher & Co.

In related news, VP Christopher E. Mead sold 2,900 shares of the stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $302.61, for a total transaction of $877,569.00. Following the sale, the vice president now owns 14,674 shares in the company, valued at approximately $4,440,499.14. This trade represents a 16.50 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Richard C. Cary sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $322.99, for a total transaction of $3,229,900.00. Following the transaction, the chief accounting officer now owns 69,774 shares of the company’s stock, valued at approximately $22,536,304.26. This represents a 12.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 15,725 shares of company stock valued at $4,972,964. 1.60% of the stock is owned by corporate insiders.

Arthur J. Gallagher & Co. Trading Up 0.2 %

AJG stock opened at $329.76 on Wednesday. Arthur J. Gallagher & Co. has a 52 week low of $230.08 and a 52 week high of $345.43. The company has a market capitalization of $83.99 billion, a PE ratio of 50.58 and a beta of 0.75. The company’s 50-day simple moving average is $314.21 and its 200 day simple moving average is $298.74. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.51 and a current ratio of 1.51.

Arthur J. Gallagher & Co. (NYSE:AJG) last announced its earnings results on Thursday, January 30th. The financial services provider reported $2.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.03 by $0.10. Arthur J. Gallagher & Co. had a net margin of 12.70% and a return on equity of 16.47%. As a group, sell-side analysts anticipate that Arthur J. Gallagher & Co. will post 11.54 earnings per share for the current year.

Arthur J. Gallagher & Co. Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 21st. Stockholders of record on Friday, March 7th will be given a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a dividend yield of 0.79%. This is an increase from Arthur J. Gallagher & Co.’s previous quarterly dividend of $0.60. The ex-dividend date is Friday, March 7th. Arthur J. Gallagher & Co.’s dividend payout ratio is presently 39.88%.

Analysts Set New Price Targets

Several analysts have issued reports on AJG shares. Piper Sandler raised shares of Arthur J. Gallagher & Co. from a “neutral” rating to an “overweight” rating and upped their price target for the stock from $285.00 to $315.00 in a research report on Wednesday, January 8th. The Goldman Sachs Group downgraded shares of Arthur J. Gallagher & Co. from a “buy” rating to a “neutral” rating and set a $313.00 target price for the company. in a research note on Monday, November 25th. Truist Financial boosted their price target on Arthur J. Gallagher & Co. from $275.00 to $290.00 and gave the stock a “hold” rating in a research report on Friday, January 31st. TD Cowen raised Arthur J. Gallagher & Co. from a “hold” rating to a “buy” rating and raised their price objective for the company from $295.00 to $377.00 in a research report on Friday, January 10th. Finally, Wells Fargo & Company decreased their target price on Arthur J. Gallagher & Co. from $344.00 to $341.00 and set an “overweight” rating on the stock in a report on Friday, January 31st. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $307.93.

Arthur J. Gallagher & Co. Company Profile

Arthur J. Gallagher & Co engages in the provision of insurance brokerage, reinsurance brokerage, consulting, and third-party claims settlement and administration services. It operates through the following business segments: Brokerage, Risk Management, and Corporate. The Brokerage segment consists of retail and wholesale insurance brokerage operations.