Exchange Traded Concepts LLC Buys 7,964 Shares of Arthur J. Gallagher & Co. (NYSE:AJG)

Exchange Traded Concepts LLC grew its stake in Arthur J. Gallagher & Co. (NYSE:AJG) by 303.0% in the 4th quarter, Holdings Channel reports. The firm owned 10,592 shares of the financial services provider’s stock after purchasing an additional 7,964 shares during the period. Exchange Traded Concepts LLC’s holdings in Arthur J. Gallagher & Co. were worth $3,007,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of AJG. Encompass More Asset Management lifted its holdings in Arthur J. Gallagher & Co. by 29.4% in the fourth quarter. Encompass More Asset Management now owns 1,254 shares of the financial services provider’s stock worth $356,000 after buying an additional 285 shares during the period. RFG Advisory LLC lifted its stake in shares of Arthur J. Gallagher & Co. by 3.9% in the 4th quarter. RFG Advisory LLC now owns 7,159 shares of the financial services provider’s stock valued at $2,032,000 after purchasing an additional 268 shares during the period. McGlone Suttner Wealth Management Inc. boosted its position in shares of Arthur J. Gallagher & Co. by 3.4% during the fourth quarter. McGlone Suttner Wealth Management Inc. now owns 2,670 shares of the financial services provider’s stock valued at $758,000 after purchasing an additional 87 shares in the last quarter. Cerro Pacific Wealth Advisors LLC purchased a new stake in Arthur J. Gallagher & Co. in the fourth quarter worth $200,000. Finally, Mutual Advisors LLC raised its holdings in Arthur J. Gallagher & Co. by 12.1% in the fourth quarter. Mutual Advisors LLC now owns 1,790 shares of the financial services provider’s stock worth $530,000 after purchasing an additional 193 shares in the last quarter. 85.53% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. Piper Sandler raised shares of Arthur J. Gallagher & Co. from a “neutral” rating to an “overweight” rating and upped their target price for the stock from $285.00 to $315.00 in a research report on Wednesday, January 8th. The Goldman Sachs Group downgraded shares of Arthur J. Gallagher & Co. from a “buy” rating to a “neutral” rating and set a $313.00 target price for the company. in a research note on Monday, November 25th. Wells Fargo & Company boosted their price target on Arthur J. Gallagher & Co. from $315.00 to $344.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 10th. BMO Capital Markets raised their price objective on Arthur J. Gallagher & Co. from $312.00 to $325.00 and gave the company an “outperform” rating in a research report on Tuesday, November 12th. Finally, Jefferies Financial Group increased their target price on Arthur J. Gallagher & Co. from $269.00 to $274.00 and gave the stock a “hold” rating in a research note on Wednesday, October 9th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $304.07.

Arthur J. Gallagher & Co. Stock Performance

Shares of NYSE AJG opened at $289.71 on Friday. The firm’s 50-day moving average price is $291.74 and its 200-day moving average price is $287.69. Arthur J. Gallagher & Co. has a 52-week low of $227.08 and a 52-week high of $316.72. The company has a market cap of $72.37 billion, a PE ratio of 55.18 and a beta of 0.76. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.64.

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 the consensus estimate of $2.26. The company had revenue of $2.77 billion for 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 firm’s quarterly revenue was up 12.8% on a year-over-year basis. During the same quarter last year, the company posted $2.00 earnings per share. As a group, analysts anticipate that Arthur J. Gallagher & Co. will post 10.05 EPS for the current year.

Insider Transactions at Arthur J. Gallagher & Co.

In other news, VP Christopher E. Mead sold 2,800 shares of Arthur J. Gallagher & Co. stock in a transaction on Monday, October 28th. The shares were sold at an average price of $287.00, for a total transaction of $803,600.00. Following the transaction, the vice president now owns 14,674 shares in the company, valued at $4,211,438. This trade represents a 16.02 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Douglas K. Howell sold 7,000 shares of the business’s stock in a transaction on Monday, October 28th. The shares were sold at an average price of $284.70, for a total transaction of $1,992,900.00. Following the sale, the chief financial officer now directly 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.

Arthur J. Gallagher & Co. 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.