Grimes & Company Inc. Has $2.06 Million Stake in Arthur J. Gallagher & Co. (NYSE:AJG)

Grimes & Company Inc. lifted its position in Arthur J. Gallagher & Co. (NYSE:AJG) by 1.1% in the fourth quarter, HoldingsChannel.com reports. The firm owned 7,255 shares of the financial services provider’s stock after acquiring an additional 79 shares during the period. Grimes & Company Inc.’s holdings in Arthur J. Gallagher & Co. were worth $2,059,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently bought and sold shares of the stock. W Advisors LLC lifted its holdings in shares of Arthur J. Gallagher & Co. by 2.4% during the third quarter. W Advisors LLC now owns 1,514 shares of the financial services provider’s stock valued at $426,000 after acquiring an additional 36 shares during the period. Miracle Mile Advisors LLC lifted its holdings in shares of Arthur J. Gallagher & Co. by 0.8% during the third quarter. Miracle Mile Advisors LLC now owns 4,583 shares of the financial services provider’s stock valued at $1,289,000 after acquiring an additional 38 shares during the period. Covenant Partners LLC lifted its holdings in shares of Arthur J. Gallagher & Co. by 0.7% during the third quarter. Covenant Partners LLC now owns 5,326 shares of the financial services provider’s stock valued at $1,499,000 after acquiring an additional 38 shares during the period. Disciplined Investments LLC lifted its holdings in shares of Arthur J. Gallagher & Co. by 0.7% during the third quarter. Disciplined Investments LLC now owns 5,849 shares of the financial services provider’s stock valued at $1,635,000 after acquiring an additional 38 shares during the period. Finally, Seelaus Asset Management LLC lifted its holdings in shares of Arthur J. Gallagher & Co. by 0.7% during the third quarter. Seelaus Asset Management LLC now owns 5,481 shares of the financial services provider’s stock valued at $1,542,000 after acquiring an additional 38 shares during the period. 85.53% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Arthur J. Gallagher & Co.

In other news, VP Christopher E. Mead sold 2,800 shares of the business’s stock in a transaction dated Monday, October 28th. The stock was 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 directly owns 14,674 shares in the company, valued at approximately $4,211,438. The trade was a 16.02 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Douglas K. Howell sold 7,000 shares of the business’s 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 transaction, the chief financial officer now owns 75,963 shares of the company’s stock, valued at $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. Corporate insiders own 1.60% of the company’s stock.

Arthur J. Gallagher & Co. Price Performance

Arthur J. Gallagher & Co. stock opened at $289.71 on Friday. The firm has a market capitalization of $72.37 billion, a P/E ratio of 55.18 and a beta of 0.76. Arthur J. Gallagher & Co. has a 1 year low of $227.08 and a 1 year high of $316.72. The business has a 50-day moving average of $291.74 and a 200-day moving average of $287.69. 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. (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 the consensus estimate of $2.26. The company had revenue of $2.77 billion during the quarter, compared to analyst estimates of $2.78 billion. Arthur J. Gallagher & Co. had a return on equity of 19.12% and a net margin of 10.40%. The company’s revenue for the quarter was up 12.8% compared to the same quarter last year. During the same period in the previous year, the company earned $2.00 EPS. On average, equities analysts anticipate that Arthur J. Gallagher & Co. will post 10.05 EPS for the current year.

Analyst Ratings Changes

AJG has been the subject of a number of analyst reports. Keefe, Bruyette & Woods raised Arthur J. Gallagher & Co. from an “underperform” rating to a “market perform” rating and cut their price objective for the company from $292.00 to $286.00 in a report on Friday, January 10th. Bank of America raised their target price on Arthur J. Gallagher & Co. from $271.00 to $293.00 and gave the company an “underperform” rating in a research note on Thursday, October 10th. The Goldman Sachs Group lowered 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. TD Cowen upgraded Arthur J. Gallagher & Co. from a “hold” rating to a “buy” rating and raised their target price for the company from $295.00 to $377.00 in a research note on Friday, January 10th. Finally, Piper Sandler upgraded Arthur J. Gallagher & Co. from a “neutral” rating to an “overweight” rating and raised their target price for the company from $285.00 to $315.00 in a research note on Wednesday, January 8th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and six have given a buy rating to the company. According to MarketBeat.com, Arthur J. Gallagher & Co. has an average rating of “Hold” and an average target price of $304.07.

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.