SteelPeak Wealth LLC Has $386,000 Stock Position in Arthur J. Gallagher & Co. (NYSE:AJG)

SteelPeak Wealth LLC increased its holdings in shares of Arthur J. Gallagher & Co. (NYSE:AJG) by 23.9% in the 3rd quarter, HoldingsChannel reports. The firm owned 1,373 shares of the financial services provider’s stock after acquiring an additional 265 shares during the period. SteelPeak Wealth LLC’s holdings in Arthur J. Gallagher & Co. were worth $386,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Norden Group LLC purchased a new position in shares of Arthur J. Gallagher & Co. during the first quarter valued at approximately $3,841,000. First Trust Direct Indexing L.P. lifted its holdings in Arthur J. Gallagher & Co. by 12.8% during the first quarter. First Trust Direct Indexing L.P. now owns 4,849 shares of the financial services provider’s stock worth $1,212,000 after acquiring an additional 550 shares during the period. J.W. Cole Advisors Inc. lifted its holdings in Arthur J. Gallagher & Co. by 4.7% during the first quarter. J.W. Cole Advisors Inc. now owns 983 shares of the financial services provider’s stock worth $246,000 after acquiring an additional 44 shares during the period. Mission Wealth Management LP raised its stake in shares of Arthur J. Gallagher & Co. by 5.8% in the first quarter. Mission Wealth Management LP now owns 1,487 shares of the financial services provider’s stock valued at $372,000 after buying an additional 82 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Arthur J. Gallagher & Co. by 41.7% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 54,340 shares of the financial services provider’s stock valued at $13,587,000 after buying an additional 15,993 shares during the period. Institutional investors and hedge funds own 85.53% of the company’s stock.

Insider Activity

In related news, President Michael Robert Pesch sold 7,100 shares of the firm’s stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $296.20, for a total transaction of $2,103,020.00. Following the completion of the transaction, the president now owns 33,267 shares of the company’s stock, valued at $9,853,685.40. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CFO Douglas K. Howell sold 7,000 shares of the firm’s stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $284.70, for a total transaction of $1,992,900.00. Following the completion of the transaction, the chief financial officer now owns 75,963 shares of the company’s stock, valued at $21,626,666.10. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, President Michael Robert Pesch sold 7,100 shares of the firm’s stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $296.20, for a total value of $2,103,020.00. Following the transaction, the president now directly owns 33,267 shares of the company’s stock, valued at approximately $9,853,685.40. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 38,900 shares of company stock worth $11,136,680 in the last quarter. 1.60% of the stock is owned by company insiders.

Arthur J. Gallagher & Co. Trading Down 1.2 %

NYSE AJG opened at $281.19 on Friday. The stock has a market cap of $61.61 billion, a P/E ratio of 53.56, a price-to-earnings-growth ratio of 2.53 and a beta of 0.72. 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 50 day simple moving average of $288.84 and a two-hundred day simple moving average of $270.41. Arthur J. Gallagher & Co. has a fifty-two week low of $218.63 and a fifty-two week high of $301.04.

Arthur J. Gallagher & Co. (NYSE:AJG) last released its earnings results on Thursday, October 24th. The financial services provider reported $2.26 EPS for the quarter, meeting analysts’ consensus estimates of $2.26. The company had revenue of $2.77 billion during the quarter, compared to analysts’ expectations of $2.78 billion. Arthur J. Gallagher & Co. had a return on equity of 19.25% and a net margin of 10.41%. The firm’s revenue for the quarter was up 12.8% compared to the same quarter last year. During the same quarter last year, the business posted $2.00 EPS. On average, analysts forecast that Arthur J. Gallagher & Co. will post 10.11 earnings per share for the current year.

Arthur J. Gallagher & Co. Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Friday, December 6th will be paid a $0.60 dividend. 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, December 6th. Arthur J. Gallagher & Co.’s payout ratio is presently 45.71%.

Wall Street Analysts Forecast Growth

AJG has been the topic of a number of analyst reports. The Goldman Sachs Group boosted their price objective on Arthur J. Gallagher & Co. from $272.00 to $286.00 in a research note on Friday, July 26th. BMO Capital Markets boosted their price objective 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. UBS Group boosted their price objective on Arthur J. Gallagher & Co. from $260.00 to $292.00 and gave the company a “neutral” rating in a research note on Wednesday, July 31st. Barclays assumed coverage on Arthur J. Gallagher & Co. in a research report on Wednesday, September 4th. They set an “equal weight” rating and a $300.00 target price for the company. Finally, Piper Sandler increased their price objective on Arthur J. Gallagher & Co. from $254.00 to $293.00 and gave the company a “neutral” rating in a research report on Friday, September 20th. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, Arthur J. Gallagher & Co. presently has an average rating of “Hold” and a consensus target price of $287.00.

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.