Ridgeline Wealth LLC Makes New $368,000 Investment in Arthur J. Gallagher & Co. (NYSE:AJG)

Ridgeline Wealth LLC bought a new position in shares of Arthur J. Gallagher & Co. (NYSE:AJG) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 1,295 shares of the financial services provider’s stock, valued at approximately $368,000.

A number of other hedge funds also recently made changes to their positions in the stock. W Advisors LLC raised its position in Arthur J. Gallagher & Co. by 2.4% in the third quarter. W Advisors LLC now owns 1,514 shares of the financial services provider’s stock valued at $426,000 after purchasing an additional 36 shares during the last quarter. Miracle Mile Advisors LLC raised its holdings in Arthur J. Gallagher & Co. by 0.8% in the 3rd quarter. Miracle Mile Advisors LLC now owns 4,583 shares of the financial services provider’s stock valued at $1,289,000 after buying an additional 38 shares during the last quarter. Covenant Partners LLC boosted its position in Arthur J. Gallagher & Co. by 0.7% during the 3rd quarter. Covenant Partners LLC now owns 5,326 shares of the financial services provider’s stock worth $1,499,000 after buying an additional 38 shares during the period. Disciplined Investments LLC increased its position in Arthur J. Gallagher & Co. by 0.7% in the 3rd quarter. Disciplined Investments LLC now owns 5,849 shares of the financial services provider’s stock valued at $1,635,000 after acquiring an additional 38 shares during the period. Finally, Seelaus Asset Management LLC raised its stake in shares of Arthur J. Gallagher & Co. by 0.7% during the third quarter. Seelaus Asset Management LLC now owns 5,481 shares of the financial services provider’s stock valued at $1,542,000 after acquiring an additional 38 shares during 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 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 stock was sold at an average price of $287.00, for a total transaction of $803,600.00. Following the transaction, the vice president now directly owns 14,674 shares in the company, valued at approximately $4,211,438. This trade represents a 16.02 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Douglas K. Howell sold 7,000 shares of the company’s stock in a transaction on Monday, October 28th. The stock was sold at an average price of $284.70, for a total transaction of $1,992,900.00. Following the completion of the sale, the chief financial officer now owns 75,963 shares of the company’s stock, valued at approximately $21,626,666.10. The trade was a 8.44 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.60% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on AJG shares. The Goldman Sachs Group downgraded Arthur J. Gallagher & Co. from a “buy” rating to a “neutral” rating and set a $313.00 target price on the stock. in a report on Monday, November 25th. Keefe, Bruyette & Woods upped their target price on Arthur J. Gallagher & Co. from $260.00 to $292.00 and gave the company an “underperform” rating in a report on Wednesday, December 11th. Barclays raised their price target on shares of Arthur J. Gallagher & Co. from $300.00 to $308.00 and gave the stock an “equal weight” rating in a report on Thursday, November 21st. Truist Financial upped their price objective on shares of Arthur J. Gallagher & Co. from $265.00 to $275.00 and gave the company a “hold” rating in a research note on Friday, September 20th. Finally, Wells Fargo & Company boosted their target price 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. 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 stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $296.57.

Arthur J. Gallagher & Co. Stock Down 1.4 %

Shares of AJG traded down $3.89 during trading hours on Monday, reaching $276.51. The stock had a trading volume of 1,678,117 shares, compared to its average volume of 2,655,972. The firm has a 50-day simple moving average of $291.78 and a 200 day simple moving average of $285.21. Arthur J. Gallagher & Co. has a 12 month low of $224.21 and a 12 month high of $316.72. 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 company has a market capitalization of $69.07 billion, a price-to-earnings ratio of 52.67, a P/E/G ratio of 2.41 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 firm had revenue of $2.77 billion for 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%. The business’s quarterly revenue was up 12.8% compared to the same quarter last year. During the same period last year, the firm earned $2.00 earnings per share. Equities research analysts predict that Arthur J. Gallagher & Co. will post 10.12 earnings per share for the current fiscal year.

Arthur J. Gallagher & Co. Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 20th. Shareholders of record on Friday, December 6th were issued a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 0.87%. The ex-dividend date was Friday, December 6th. Arthur J. Gallagher & Co.’s dividend payout ratio is currently 45.71%.

About Arthur J. Gallagher & Co.

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.