Modera Wealth Management LLC Has $418,000 Position in Arthur J. Gallagher & Co. (NYSE:AJG)

Modera Wealth Management LLC increased its stake in shares of Arthur J. Gallagher & Co. (NYSE:AJG) by 16.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,487 shares of the financial services provider’s stock after purchasing an additional 211 shares during the quarter. Modera Wealth Management LLC’s holdings in Arthur J. Gallagher & Co. were worth $418,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Capital International Investors lifted its stake in Arthur J. Gallagher & Co. by 7.0% in the first quarter. Capital International Investors now owns 11,050,941 shares of the financial services provider’s stock valued at $2,763,177,000 after acquiring an additional 727,325 shares during the last quarter. Capital World Investors lifted its stake in shares of Arthur J. Gallagher & Co. by 9.0% in the first quarter. Capital World Investors now owns 4,832,060 shares of the financial services provider’s stock worth $1,208,208,000 after buying an additional 398,350 shares during the last quarter. Legal & General Group Plc lifted its stake in shares of Arthur J. Gallagher & Co. by 2.7% in the second quarter. Legal & General Group Plc now owns 1,640,938 shares of the financial services provider’s stock worth $425,511,000 after buying an additional 42,841 shares during the last quarter. Boston Partners lifted its stake in shares of Arthur J. Gallagher & Co. by 2.5% in the first quarter. Boston Partners now owns 1,611,299 shares of the financial services provider’s stock worth $402,206,000 after buying an additional 38,886 shares during the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in shares of Arthur J. Gallagher & Co. by 5.3% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,567,867 shares of the financial services provider’s stock worth $392,029,000 after buying an additional 79,271 shares during the last quarter. 85.53% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on AJG shares. Piper Sandler boosted their target price on shares of Arthur J. Gallagher & Co. from $254.00 to $293.00 and gave the stock a “neutral” rating in a research report on Friday, September 20th. The Goldman Sachs Group boosted their price target on shares of Arthur J. Gallagher & Co. from $272.00 to $286.00 in a report on Friday, July 26th. Jefferies Financial Group boosted their price target on shares of Arthur J. Gallagher & Co. from $269.00 to $274.00 and gave the company a “hold” rating in a report on Wednesday, October 9th. Bank Of America (Bofa) boosted their price target on shares of Arthur J. Gallagher & Co. from $255.00 to $265.00 and gave the company an “underperform” rating in a report on Friday, July 26th. Finally, Wells Fargo & Company boosted their price target on shares of Arthur J. Gallagher & Co. from $309.00 to $315.00 and gave the company an “overweight” rating in a report on Thursday, October 10th. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $287.00.

Arthur J. Gallagher & Co. Price Performance

NYSE AJG opened at $285.12 on Wednesday. The business has a 50 day simple moving average of $289.15 and a 200 day simple moving average of $270.23. Arthur J. Gallagher & Co. has a 52-week low of $218.63 and a 52-week high of $301.04. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.04 and a current ratio of 1.04. The stock has a market cap of $62.30 billion, a price-to-earnings ratio of 57.72, a PEG ratio of 2.53 and a beta of 0.72.

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, hitting analysts’ consensus estimates of $2.26. Arthur J. Gallagher & Co. had a return on equity of 19.25% and a net margin of 10.41%. The business had revenue of $2.77 billion during the quarter, compared to analysts’ expectations of $2.78 billion. During the same period in the prior year, the business earned $2.00 EPS. Arthur J. Gallagher & Co.’s revenue for the quarter was up 12.8% compared to the same quarter last year. Analysts anticipate that Arthur J. Gallagher & Co. will post 10.11 earnings per share for the current fiscal year.

Arthur J. Gallagher & Co. Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Friday, December 6th will be given a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 0.84%. The ex-dividend date of this dividend is Friday, December 6th. Arthur J. Gallagher & Co.’s dividend payout ratio (DPR) is currently 48.58%.

Insiders Place Their Bets

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 Thursday, September 19th. The stock was sold at an average price of $284.68, for a total transaction of $1,992,760.00. Following the completion of the transaction, the chief financial officer now owns 75,963 shares of the company’s stock, valued at $21,625,146.84. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other news, CFO Douglas K. Howell sold 7,000 shares of the stock in a transaction that occurred on Thursday, September 19th. The stock was sold at an average price of $284.68, for a total value of $1,992,760.00. Following the completion of the sale, the chief financial officer now owns 75,963 shares of the company’s stock, valued at approximately $21,625,146.84. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, President Thomas Joseph Gallagher sold 15,000 shares of the stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $282.96, for a total value of $4,244,400.00. Following the completion of the sale, the president now directly owns 329,099 shares of the company’s stock, valued at approximately $93,121,853.04. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 37,810 shares of company stock valued at $10,823,140 in the last quarter. 1.60% of the stock is currently owned by insiders.

Arthur J. Gallagher & Co. 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.