Wealth Enhancement Trust Services Inc. Acquires Shares of 3,474 Arthur J. Gallagher & Co. $AJG

Wealth Enhancement Trust Services Inc. acquired a new stake in shares of Arthur J. Gallagher & Co. (NYSE:AJG) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 3,474 shares of the financial services provider’s stock, valued at approximately $899,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Physician Wealth Advisors Inc. raised its holdings in shares of Arthur J. Gallagher & Co. by 870.0% in the third quarter. Physician Wealth Advisors Inc. now owns 97 shares of the financial services provider’s stock worth $30,000 after buying an additional 87 shares during the period. Rakuten Securities Inc. raised its holdings in shares of Arthur J. Gallagher & Co. by 650.0% in the second quarter. Rakuten Securities Inc. now owns 105 shares of the financial services provider’s stock worth $34,000 after buying an additional 91 shares during the period. Financial Life Planners purchased a new stake in shares of Arthur J. Gallagher & Co. in the third quarter worth approximately $39,000. Westside Investment Management Inc. raised its holdings in shares of Arthur J. Gallagher & Co. by 100.0% in the third quarter. Westside Investment Management Inc. now owns 136 shares of the financial services provider’s stock worth $42,000 after buying an additional 68 shares during the period. Finally, Thurston Springer Miller Herd & Titak Inc. raised its holdings in shares of Arthur J. Gallagher & Co. by 668.2% in the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 169 shares of the financial services provider’s stock worth $44,000 after buying an additional 147 shares during the period. 85.53% of the stock is currently owned by hedge funds and other institutional investors.

Arthur J. Gallagher & Co. Stock Down 0.1%

Shares of NYSE:AJG opened at $221.42 on Monday. Arthur J. Gallagher & Co. has a 52-week low of $195.00 and a 52-week high of $351.23. The stock has a market cap of $56.93 billion, a P/E ratio of 36.00, a price-to-earnings-growth ratio of 1.10 and a beta of 0.68. The business’s 50 day moving average is $216.32 and its 200 day moving average is $245.16. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.52.

Arthur J. Gallagher & Co. (NYSE:AJG) last announced its quarterly earnings data on Thursday, January 29th. The financial services provider reported $2.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.35 by $0.03. Arthur J. Gallagher & Co. had a return on equity of 12.13% and a net margin of 11.84%.The company had revenue of $3.57 billion for the quarter, compared to analysts’ expectations of $3.61 billion. During the same quarter in the prior year, the firm earned $1.12 earnings per share. Arthur J. Gallagher & Co.’s revenue was up 33.9% compared to the same quarter last year. Sell-side analysts predict that Arthur J. Gallagher & Co. will post 11.54 EPS for the current year.

Arthur J. Gallagher & Co. Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 20th. Investors of record on Friday, March 6th were paid a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 1.3%. This is an increase from Arthur J. Gallagher & Co.’s previous quarterly dividend of $0.65. The ex-dividend date of this dividend was Friday, March 6th. Arthur J. Gallagher & Co.’s payout ratio is currently 45.53%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. Piper Sandler reduced their price target on Arthur J. Gallagher & Co. from $249.00 to $226.00 and set a “neutral” rating on the stock in a report on Monday, February 23rd. Wall Street Zen upgraded Arthur J. Gallagher & Co. from a “sell” rating to a “hold” rating in a report on Saturday, February 21st. Mizuho reduced their price target on Arthur J. Gallagher & Co. from $260.00 to $259.00 and set an “outperform” rating on the stock in a report on Monday, April 13th. Keefe, Bruyette & Woods reduced their price target on Arthur J. Gallagher & Co. from $249.00 to $246.00 and set a “market perform” rating on the stock in a report on Tuesday, April 7th. Finally, Jefferies Financial Group reduced their price target on Arthur J. Gallagher & Co. from $283.00 to $280.00 and set a “hold” rating on the stock in a report on Monday, February 2nd. Ten analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $273.94.

Insider Activity at Arthur J. Gallagher & Co.

In related news, VP Christopher E. Mead sold 4,000 shares of the stock in a transaction that occurred on Thursday, March 5th. The stock was sold at an average price of $227.12, for a total value of $908,480.00. Following the transaction, the vice president owned 19,306 shares of the company’s stock, valued at $4,384,778.72. This represents a 17.16% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Scott R. Hudson sold 3,800 shares of the stock in a transaction that occurred on Friday, March 6th. The stock was sold at an average price of $227.57, for a total value of $864,766.00. Following the completion of the transaction, the vice president directly owned 85,920 shares in the company, valued at approximately $19,552,814.40. This trade represents a 4.24% decrease in their position. The SEC filing for this sale provides additional information. 1.40% of the stock is owned by corporate insiders.

Arthur J. Gallagher & Co. Company Profile

Arthur J. Gallagher & Co is a global insurance brokerage and risk management firm headquartered in Rolling Meadows, Illinois. Founded in 1927 by Arthur J. Gallagher, the company has grown from a regional broker into an international professional services organization that arranges insurance, provides consulting and designs risk-transfer solutions for commercial, industrial, public sector and individual clients.

The company’s core activities include property and casualty insurance brokerage, employee benefits consulting and administration, and a range of risk management services.