Legacy Wealth Management LLC MS Lowers Position in Arthur J. Gallagher & Co. (NYSE:AJG)

Legacy Wealth Management LLC MS lessened its holdings in Arthur J. Gallagher & Co. (NYSE:AJG) by 5.0% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 14,541 shares of the financial services provider’s stock after selling 770 shares during the period. Arthur J. Gallagher & Co. comprises 1.6% of Legacy Wealth Management LLC MS’s holdings, making the stock its 14th biggest position. Legacy Wealth Management LLC MS’s holdings in Arthur J. Gallagher & Co. were worth $4,127,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. The Manufacturers Life Insurance Company boosted its holdings in Arthur J. Gallagher & Co. by 219.6% during the second quarter. The Manufacturers Life Insurance Company now owns 1,043,769 shares of the financial services provider’s stock worth $270,660,000 after buying an additional 717,221 shares in the last quarter. Principal Financial Group Inc. lifted its holdings in Arthur J. Gallagher & Co. by 231.2% during the third quarter. Principal Financial Group Inc. now owns 885,796 shares of the financial services provider’s stock valued at $249,237,000 after purchasing an additional 618,362 shares in the last quarter. FMR LLC increased its stake in shares of Arthur J. Gallagher & Co. by 4.9% during the third quarter. FMR LLC now owns 12,305,478 shares of the financial services provider’s stock worth $3,462,392,000 after purchasing an additional 580,134 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its stake in Arthur J. Gallagher & Co. by 13.6% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 3,196,992 shares of the financial services provider’s stock valued at $899,538,000 after buying an additional 383,130 shares in the last quarter. Finally, Nomura Asset Management Co. Ltd. raised its holdings in shares of Arthur J. Gallagher & Co. by 431.9% during the third quarter. Nomura Asset Management Co. Ltd. now owns 323,880 shares of the financial services provider’s stock valued at $91,130,000 after acquiring an additional 262,987 shares during the last quarter. 85.53% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Arthur J. Gallagher & Co. news, VP Christopher E. Mead sold 2,800 shares of the company’s stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $287.00, for a total value of $803,600.00. Following the sale, the vice president now owns 14,674 shares of the company’s stock, valued at $4,211,438. This represents a 16.02 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Douglas K. Howell sold 7,000 shares of Arthur J. Gallagher & Co. stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $284.70, for a total value of $1,992,900.00. Following the transaction, the chief financial officer now owns 75,963 shares of the company’s stock, valued at $21,626,666.10. This represents a 8.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.60% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on AJG shares. Truist Financial boosted their price target on shares of Arthur J. Gallagher & Co. from $265.00 to $275.00 and gave the stock a “hold” rating in a research report on Friday, September 20th. The Goldman Sachs Group lowered Arthur J. Gallagher & Co. from a “buy” rating to a “neutral” rating and set a $313.00 price objective on the stock. in a research note on Monday, November 25th. Wells Fargo & Company upped their price objective on shares of Arthur J. Gallagher & Co. from $315.00 to $344.00 and gave the company an “overweight” rating in a report on Tuesday, December 10th. BMO Capital Markets boosted their target price on shares of Arthur J. Gallagher & Co. from $312.00 to $325.00 and gave the company an “outperform” rating in a report on Tuesday, November 12th. Finally, Royal Bank of Canada raised their price target on shares of Arthur J. Gallagher & Co. from $310.00 to $320.00 and gave the stock an “outperform” rating in a report on Friday, September 20th. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $296.57.

Arthur J. Gallagher & Co. Trading Up 0.2 %

AJG traded up $0.69 during mid-day trading on Monday, hitting $281.09. 200,741 shares of the stock were exchanged, compared to its average volume of 2,147,072. The company has a market cap of $70.22 billion, a PE ratio of 53.54, a PEG ratio of 2.41 and a beta of 0.76. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 0.64. The firm’s fifty day moving average is $291.78 and its two-hundred day moving average is $285.21. Arthur J. Gallagher & Co. has a 1-year low of $224.21 and a 1-year high of $316.72.

Arthur J. Gallagher & Co. (NYSE:AJG) last posted its quarterly earnings data on Thursday, October 24th. The financial services provider reported $2.26 EPS for the quarter, meeting the consensus estimate of $2.26. Arthur J. Gallagher & Co. had a net margin of 10.40% and a return on equity of 19.12%. The business had revenue of $2.77 billion during the quarter, compared to analyst estimates of $2.78 billion. During the same quarter last year, the firm posted $2.00 earnings per share. The business’s revenue for the quarter was up 12.8% compared to the same quarter last year. Equities analysts forecast that Arthur J. Gallagher & Co. will post 10.12 earnings per share for the current fiscal year.

Arthur J. Gallagher & Co. Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 20th. Shareholders of record on Friday, December 6th were paid a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 0.85%. The ex-dividend date of this dividend was Friday, December 6th. Arthur J. Gallagher & Co.’s dividend payout ratio is presently 45.71%.

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.