Braun Bostich & Associates Inc. Trims Stock Position in Arthur J. Gallagher & Co. (NYSE:AJG)

Braun Bostich & Associates Inc. decreased its position in Arthur J. Gallagher & Co. (NYSE:AJG) by 5.5% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 756 shares of the financial services provider’s stock after selling 44 shares during the period. Braun Bostich & Associates Inc.’s holdings in Arthur J. Gallagher & Co. were worth $215,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Canada Pension Plan Investment Board boosted its position in shares of Arthur J. Gallagher & Co. by 3.2% during the 2nd quarter. Canada Pension Plan Investment Board now owns 63,539 shares of the financial services provider’s stock worth $16,476,000 after purchasing an additional 1,972 shares during the period. AE Wealth Management LLC lifted its stake in Arthur J. Gallagher & Co. by 439.7% during the second quarter. AE Wealth Management LLC now owns 9,100 shares of the financial services provider’s stock worth $2,360,000 after purchasing an additional 7,414 shares in the last quarter. Summit Trail Advisors LLC purchased a new position in shares of Arthur J. Gallagher & Co. during the second quarter worth $208,000. ProShare Advisors LLC grew its stake in shares of Arthur J. Gallagher & Co. by 5.7% in the second quarter. ProShare Advisors LLC now owns 44,381 shares of the financial services provider’s stock valued at $11,508,000 after buying an additional 2,386 shares in the last quarter. Finally, Mount Yale Investment Advisors LLC raised its holdings in shares of Arthur J. Gallagher & Co. by 11.4% in the 2nd quarter. Mount Yale Investment Advisors LLC now owns 1,776 shares of the financial services provider’s stock valued at $461,000 after buying an additional 182 shares during the period. Institutional investors and hedge funds own 85.53% of the company’s stock.

Insider Activity at Arthur J. Gallagher & Co.

In other Arthur J. Gallagher & Co. news, CFO Douglas K. Howell sold 7,000 shares of the company’s stock in a transaction that occurred 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 $21,626,666.10. This represents a 8.44 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 transaction 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 trade represents a 16.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.60% of the company’s stock.

Arthur J. Gallagher & Co. Trading Up 0.6 %

Shares of AJG stock opened at $296.59 on Wednesday. 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 stock has a 50-day simple moving average of $292.04 and a 200 day simple moving average of $287.25. Arthur J. Gallagher & Co. has a fifty-two week low of $227.08 and a fifty-two week high of $316.72. The stock has a market capitalization of $74.09 billion, a P/E ratio of 56.49 and a beta of 0.76.

Arthur J. Gallagher & Co. (NYSE:AJG) last issued its earnings results on Thursday, October 24th. The financial services provider reported $2.26 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $2.26. Arthur J. Gallagher & Co. had a return on equity of 19.12% and a net margin of 10.40%. The business had revenue of $2.77 billion for the quarter, compared to analysts’ expectations of $2.78 billion. During the same period in the previous year, the firm posted $2.00 EPS. The company’s quarterly revenue was up 12.8% on a year-over-year basis. On average, sell-side analysts expect that Arthur J. Gallagher & Co. will post 10.05 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research analysts have recently commented on the stock. Keefe, Bruyette & Woods raised shares of Arthur J. Gallagher & Co. from an “underperform” rating to a “market perform” rating and lowered their price objective for the company from $292.00 to $286.00 in a research note on Friday, January 10th. Bank of America boosted their price target on shares of Arthur J. Gallagher & Co. from $271.00 to $293.00 and gave the stock an “underperform” rating in a research note on Thursday, October 10th. Piper Sandler upgraded Arthur J. Gallagher & Co. from a “neutral” rating to an “overweight” rating and lifted their target price for the company from $285.00 to $315.00 in a report on Wednesday, January 8th. Barclays upped their price target on 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. Finally, BMO Capital Markets lifted their price objective on Arthur J. Gallagher & Co. from $312.00 to $325.00 and gave the company an “outperform” rating in a research note on Tuesday, November 12th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $304.07.

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.