Wealthcare Advisory Partners LLC Purchases New Position in Arthur J. Gallagher & Co. (NYSE:AJG)

Wealthcare Advisory Partners LLC bought a new stake in Arthur J. Gallagher & Co. (NYSE:AJG) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 722 shares of the financial services provider’s stock, valued at approximately $205,000.

Several other hedge funds have also added to or reduced their stakes in AJG. FMR LLC raised its position in Arthur J. Gallagher & Co. by 4.9% during the 3rd 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 during the last quarter. State Street Corp raised its position in shares of Arthur J. Gallagher & Co. by 0.5% in the 3rd quarter. State Street Corp now owns 8,932,007 shares of the financial services provider’s stock worth $2,513,199,000 after acquiring an additional 47,656 shares in the last quarter. Geode Capital Management LLC lifted its stake in Arthur J. Gallagher & Co. by 1.5% in the third quarter. Geode Capital Management LLC now owns 5,490,728 shares of the financial services provider’s stock valued at $1,541,044,000 after buying an additional 79,429 shares during the period. Massachusetts Financial Services Co. MA boosted its stake in Arthur J. Gallagher & Co. by 13.6% during the third quarter. Massachusetts Financial Services Co. MA now owns 3,196,992 shares of the financial services provider’s stock worth $899,538,000 after acquiring an additional 383,130 shares in the last quarter. Finally, Legal & General Group Plc increased its position in Arthur J. Gallagher & Co. by 2.7% in the 2nd quarter. Legal & General Group Plc now owns 1,640,938 shares of the financial services provider’s stock valued at $425,511,000 after buying an additional 42,841 shares in the last quarter. 85.53% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

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

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on AJG shares. Jefferies Financial Group upped their price objective on shares of Arthur J. Gallagher & Co. from $269.00 to $274.00 and gave the stock a “hold” rating in a report on Wednesday, October 9th. Piper Sandler upgraded shares of Arthur J. Gallagher & Co. from a “neutral” rating to an “overweight” rating and increased their price objective for the company from $285.00 to $315.00 in a research note on Wednesday, January 8th. BMO Capital Markets upped their target price on Arthur J. Gallagher & Co. from $312.00 to $325.00 and gave the company an “outperform” rating in a report on Tuesday, November 12th. Bank of America lifted their price target on Arthur J. Gallagher & Co. from $271.00 to $293.00 and gave the stock an “underperform” rating in a report on Thursday, October 10th. Finally, Barclays raised their target price on Arthur J. Gallagher & Co. from $300.00 to $308.00 and gave the company an “equal weight” rating in a research report on Thursday, November 21st. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, Arthur J. Gallagher & Co. has an average rating of “Hold” and an average target price of $304.07.

Arthur J. Gallagher & Co. Price Performance

AJG opened at $293.55 on Thursday. The firm has a 50-day moving average price of $292.07 and a 200-day moving average price of $287.47. Arthur J. Gallagher & Co. has a twelve month low of $227.08 and a twelve month high of $316.72. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.64. The company has a market capitalization of $73.33 billion, a price-to-earnings ratio of 55.91 and a beta of 0.76.

Arthur J. Gallagher & Co. (NYSE:AJG) last released its quarterly earnings data on Thursday, October 24th. The financial services provider reported $2.26 earnings per share for the quarter, meeting analysts’ consensus estimates of $2.26. The business had revenue of $2.77 billion during the quarter, compared to analyst estimates of $2.78 billion. Arthur J. Gallagher & Co. had a net margin of 10.40% and a return on equity of 19.12%. Arthur J. Gallagher & Co.’s revenue was up 12.8% compared to the same quarter last year. During the same period in the previous year, the business earned $2.00 EPS. Equities analysts expect that Arthur J. Gallagher & Co. will post 10.05 EPS for the current year.

About Arthur J. Gallagher & Co.

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.