Wealth Enhancement Advisory Services LLC Purchases 453 Shares of Arthur J. Gallagher & Co. (NYSE:AJG)

Wealth Enhancement Advisory Services LLC grew its stake in Arthur J. Gallagher & Co. (NYSE:AJG) by 0.8% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 54,858 shares of the financial services provider’s stock after purchasing an additional 453 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in Arthur J. Gallagher & Co. were worth $14,225,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of AJG. Richardson Financial Services Inc. bought a new stake in shares of Arthur J. Gallagher & Co. during the 4th quarter worth approximately $27,000. Creekmur Asset Management LLC bought a new stake in shares of Arthur J. Gallagher & Co. during the 1st quarter worth approximately $27,000. Transcendent Capital Group LLC purchased a new position in Arthur J. Gallagher & Co. during the 4th quarter worth $31,000. Security National Bank purchased a new position in Arthur J. Gallagher & Co. during the 4th quarter worth $33,000. Finally, DSM Capital Partners LLC purchased a new position in Arthur J. Gallagher & Co. during the 4th quarter worth $37,000. 85.53% of the stock is owned by institutional investors.

Arthur J. Gallagher & Co. Price Performance

Arthur J. Gallagher & Co. stock traded up $2.65 during mid-day trading on Wednesday, hitting $283.86. 245,132 shares of the company were exchanged, compared to its average volume of 844,530. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.04 and a quick ratio of 1.05. Arthur J. Gallagher & Co. has a 12-month low of $215.37 and a 12-month high of $290.31. The business’s 50 day simple moving average is $268.54 and its two-hundred day simple moving average is $252.67. The company has a market capitalization of $62.02 billion, a P/E ratio of 57.37, a PEG ratio of 2.41 and a beta of 0.72.

Arthur J. Gallagher & Co. (NYSE:AJG) last announced its quarterly earnings data on Thursday, July 25th. The financial services provider reported $2.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.24 by $0.02. Arthur J. Gallagher & Co. had a net margin of 10.41% and a return on equity of 19.25%. The business had revenue of $2.73 billion for the quarter, compared to the consensus estimate of $2.77 billion. During the same quarter in the prior year, the firm posted $1.90 earnings per share. The company’s quarterly revenue was up 14.3% compared to the same quarter last year. Analysts forecast that Arthur J. Gallagher & Co. will post 10.15 earnings per share for the current fiscal year.

Arthur J. Gallagher & Co. Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 20th. Stockholders of record on Friday, September 6th will be paid a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 0.85%. The ex-dividend date of this dividend is Friday, September 6th. Arthur J. Gallagher & Co.’s dividend payout ratio is currently 48.58%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the company. Royal Bank of Canada lifted their price target on Arthur J. Gallagher & Co. from $290.00 to $310.00 and gave the company an “outperform” rating in a report on Friday, July 26th. Keefe, Bruyette & Woods lifted their price target on Arthur J. Gallagher & Co. from $241.00 to $252.00 and gave the stock an “underperform” rating in a research report on Friday, July 26th. The Goldman Sachs Group boosted their price objective on Arthur J. Gallagher & Co. from $272.00 to $286.00 in a report on Friday, July 26th. Wells Fargo & Company lifted their price target on Arthur J. Gallagher & Co. from $282.00 to $301.00 and gave the company an “overweight” rating in a research note on Friday, July 26th. Finally, BMO Capital Markets lifted their price target on Arthur J. Gallagher & Co. from $275.00 to $295.00 and gave the company an “outperform” rating in a research note on Friday, July 26th. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $275.38.

Insider Activity

In other news, VP Scott R. Hudson sold 10,000 shares of the company’s stock in a transaction dated Tuesday, June 18th. The shares were sold at an average price of $263.45, for a total transaction of $2,634,500.00. Following the completion of the transaction, the vice president now owns 93,730 shares of the company’s stock, valued at approximately $24,693,168.50. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, President Thomas Joseph Gallagher sold 15,000 shares of the stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $282.96, for a total transaction of $4,244,400.00. Following the completion of the transaction, the president now directly owns 329,099 shares in the company, valued at approximately $93,121,853.04. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, VP Scott R. Hudson sold 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, June 18th. The shares were sold at an average price of $263.45, for a total value of $2,634,500.00. Following the sale, the vice president now directly owns 93,730 shares in the company, valued at $24,693,168.50. The disclosure for this sale can be found here. Insiders sold a total of 67,210 shares of company stock valued at $18,181,369 in the last 90 days. 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.