Lake Street Private Wealth LLC Acquires 175 Shares of Arthur J. Gallagher & Co. (NYSE:AJG)

Lake Street Private Wealth LLC grew its stake in Arthur J. Gallagher & Co. (NYSE:AJG) by 12.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,612 shares of the financial services provider’s stock after acquiring an additional 175 shares during the quarter. Lake Street Private Wealth LLC’s holdings in Arthur J. Gallagher & Co. were worth $458,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in AJG. Strategic Investment Solutions Inc. IL acquired a new stake in Arthur J. Gallagher & Co. in the second quarter valued at approximately $26,000. Pin Oak Investment Advisors Inc. boosted its position in shares of Arthur J. Gallagher & Co. by 543.8% in the 3rd quarter. Pin Oak Investment Advisors Inc. now owns 103 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 87 shares in the last quarter. Quarry LP purchased a new position in Arthur J. Gallagher & Co. during the 2nd quarter worth $29,000. Rakuten Securities Inc. raised its stake in Arthur J. Gallagher & Co. by 580.0% in the third quarter. Rakuten Securities Inc. now owns 102 shares of the financial services provider’s stock valued at $29,000 after buying an additional 87 shares during the last quarter. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA boosted its holdings in Arthur J. Gallagher & Co. by 47.6% in the third quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 152 shares of the financial services provider’s stock worth $44,000 after acquiring an additional 49 shares in the last quarter. 85.53% of the stock is owned by institutional investors.

Arthur J. Gallagher & Co. Trading Down 0.2 %

Shares of NYSE:AJG opened at $295.22 on Friday. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 0.64. Arthur J. Gallagher & Co. has a 12-month low of $227.08 and a 12-month high of $316.72. The business has a 50 day moving average of $291.99 and a two-hundred day moving average of $286.85. The company has a market capitalization of $73.75 billion, a PE ratio of 56.23 and a beta of 0.76.

Arthur J. Gallagher & Co. (NYSE:AJG) last posted its earnings results on Thursday, October 24th. The financial services provider reported $2.26 earnings per share (EPS) for the quarter, meeting the consensus estimate of $2.26. The firm had revenue of $2.77 billion during the quarter, compared to analysts’ expectations 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 revenue was up 12.8% compared to the same quarter last year. During the same period in the previous year, the business posted $2.00 EPS. As a group, analysts forecast that Arthur J. Gallagher & Co. will post 10.06 EPS for the current year.

Arthur J. Gallagher & Co. Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, December 20th. Investors of record on Friday, December 6th were paid a $0.60 dividend. The ex-dividend date of this dividend was Friday, December 6th. This represents a $2.40 annualized dividend and a dividend yield of 0.81%. Arthur J. Gallagher & Co.’s dividend payout ratio is presently 45.71%.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the stock. TD Cowen upgraded shares of Arthur J. Gallagher & Co. from a “hold” rating to a “buy” rating and upped their price objective for the company from $295.00 to $377.00 in a report on Friday, January 10th. Wells Fargo & Company raised their price target on shares of Arthur J. Gallagher & Co. from $315.00 to $344.00 and gave the stock an “overweight” rating in a report on Tuesday, December 10th. Bank of America boosted their price objective on shares of Arthur J. Gallagher & Co. from $271.00 to $293.00 and gave the company an “underperform” rating in a report on Thursday, October 10th. BMO Capital Markets lifted their price target on Arthur J. Gallagher & Co. from $312.00 to $325.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 12th. Finally, Piper Sandler raised 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 report on Wednesday, January 8th. 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. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $304.07.

Insider Buying and Selling

In related 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 transaction of $803,600.00. Following the completion of the transaction, the vice president now owns 14,674 shares in the company, valued at $4,211,438. This represents a 16.02 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Douglas K. Howell sold 7,000 shares of Arthur J. Gallagher & Co. stock in a transaction dated 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 approximately $21,626,666.10. The trade was 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 currently owned by insiders.

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.