Kingsview Wealth Management LLC Has $477,000 Stake in Arthur J. Gallagher & Co. $AJG

Kingsview Wealth Management LLC reduced its stake in Arthur J. Gallagher & Co. (NYSE:AJG) by 20.7% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,490 shares of the financial services provider’s stock after selling 389 shares during the period. Kingsview Wealth Management LLC’s holdings in Arthur J. Gallagher & Co. were worth $477,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. J.Safra Asset Management Corp lifted its stake in Arthur J. Gallagher & Co. by 209.1% in the 2nd quarter. J.Safra Asset Management Corp now owns 102 shares of the financial services provider’s stock valued at $32,000 after purchasing an additional 69 shares during the last quarter. AlphaQuest LLC acquired a new position in shares of Arthur J. Gallagher & Co. during the first quarter worth $33,000. Saudi Central Bank acquired a new stake in shares of Arthur J. Gallagher & Co. during the 1st quarter valued at $34,000. Motco boosted its holdings in shares of Arthur J. Gallagher & Co. by 700.0% during the 1st quarter. Motco now owns 112 shares of the financial services provider’s stock valued at $39,000 after acquiring an additional 98 shares in the last quarter. Finally, SouthState Corp bought a new stake in Arthur J. Gallagher & Co. during the 1st quarter worth $39,000. 85.53% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. Keefe, Bruyette & Woods cut their price target on Arthur J. Gallagher & Co. from $315.00 to $275.00 and set a “market perform” rating on the stock in a research note on Friday, October 31st. Wells Fargo & Company lifted their target price on shares of Arthur J. Gallagher & Co. from $365.00 to $366.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 8th. Citigroup decreased their price target on shares of Arthur J. Gallagher & Co. from $330.00 to $277.00 and set a “neutral” rating for the company in a research report on Monday, November 3rd. UBS Group raised their price target on shares of Arthur J. Gallagher & Co. from $322.00 to $329.00 and gave the company a “neutral” rating in a research note on Friday, September 19th. Finally, Evercore ISI reduced their price objective on shares of Arthur J. Gallagher & Co. from $370.00 to $353.00 and set an “outperform” rating on the stock in a research note on Friday, October 31st. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Arthur J. Gallagher & Co. currently has an average rating of “Moderate Buy” and a consensus target price of $316.33.

Insider Activity at Arthur J. Gallagher & Co.

In other news, VP Michael Robert Pesch bought 4,000 shares of the firm’s stock in a transaction that occurred on Monday, November 3rd. The stock was acquired at an average cost of $247.12 per share, with a total value of $988,480.00. Following the transaction, the vice president directly owned 41,849 shares of the company’s stock, valued at approximately $10,341,724.88. This represents a 10.57% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Scott R. Hudson sold 12,855 shares of the company’s stock in a transaction that occurred on Monday, September 8th. The stock was sold at an average price of $297.60, for a total value of $3,825,648.00. Following the transaction, the vice president directly owned 85,920 shares in the company, valued at approximately $25,569,792. This trade represents a 13.01% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 35,855 shares of company stock valued at $10,482,928. Company insiders own 1.60% of the company’s stock.

Arthur J. Gallagher & Co. Stock Up 1.6%

Shares of NYSE:AJG opened at $251.29 on Friday. Arthur J. Gallagher & Co. has a 1 year low of $239.47 and a 1 year high of $351.23. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.36 and a quick ratio of 1.36. The business’s 50-day moving average is $280.38 and its 200-day moving average is $302.39. The company has a market capitalization of $64.53 billion, a price-to-earnings ratio of 35.69 and a beta of 0.71.

Arthur J. Gallagher & Co. (NYSE:AJG) last issued its earnings results on Thursday, October 30th. The financial services provider reported $2.32 earnings per share for the quarter, missing analysts’ consensus estimates of $2.51 by ($0.19). The business had revenue of $3.33 billion during the quarter, compared to the consensus estimate of $3.34 billion. Arthur J. Gallagher & Co. had a return on equity of 13.17% and a net margin of 14.54%.The company’s revenue for the quarter was up 20.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.26 earnings per share. Equities research analysts predict that Arthur J. Gallagher & Co. will post 11.54 earnings per share for the current year.

Arthur J. Gallagher & Co. Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 19th. Investors of record on Friday, December 5th will be paid a dividend of $0.65 per share. The ex-dividend date of this dividend is Friday, December 5th. This represents a $2.60 annualized dividend and a yield of 1.0%. Arthur J. Gallagher & Co.’s dividend payout ratio is currently 38.86%.

About Arthur J. Gallagher & Co.

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 segments: Brokerage, Risk Management, and Corporate. The Brokerage segment consists of retail and wholesale insurance brokerage operations.