Peapack Gladstone Financial Corp Decreases Stock Position in Arthur J. Gallagher & Co. $AJG

Peapack Gladstone Financial Corp cut its holdings in Arthur J. Gallagher & Co. (NYSE:AJG) by 95.0% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 1,128 shares of the financial services provider’s stock after selling 21,333 shares during the quarter. Peapack Gladstone Financial Corp’s holdings in Arthur J. Gallagher & Co. were worth $292,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Physician Wealth Advisors Inc. boosted its position in shares of Arthur J. Gallagher & Co. by 870.0% in the 3rd 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 in the last quarter. Rakuten Securities Inc. boosted its position in shares of Arthur J. Gallagher & Co. by 650.0% in the 2nd quarter. Rakuten Securities Inc. now owns 105 shares of the financial services provider’s stock worth $34,000 after buying an additional 91 shares in the last quarter. Financial Life Planners purchased a new stake in shares of Arthur J. Gallagher & Co. in the 3rd quarter worth about $39,000. Westside Investment Management Inc. boosted its position in shares of Arthur J. Gallagher & Co. by 100.0% in the 3rd 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 in the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. boosted its position in shares of Arthur J. Gallagher & Co. by 668.2% in the 4th 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 in the last quarter. 85.53% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts recently weighed in on AJG shares. Barclays boosted their target price on shares of Arthur J. Gallagher & Co. from $262.00 to $275.00 and gave the company an “overweight” rating in a research note on Wednesday, April 8th. Piper Sandler cut their target price on shares of Arthur J. Gallagher & Co. from $226.00 to $211.00 and set a “neutral” rating for the company in a research note on Friday, May 1st. BMO Capital Markets raised shares of Arthur J. Gallagher & Co. from a “market perform” rating to an “outperform” rating and boosted their target price for the company from $275.00 to $278.00 in a research note on Tuesday, March 24th. Keefe, Bruyette & Woods cut their target price on shares of Arthur J. Gallagher & Co. from $246.00 to $235.00 and set a “market perform” rating for the company in a research note on Friday, May 1st. Finally, Truist Financial cut their target price on shares of Arthur J. Gallagher & Co. from $235.00 to $225.00 and set a “hold” rating for the company in a research note on Friday, May 1st. Eleven analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $264.00.

Insider Transactions at Arthur J. Gallagher & Co.

In related news, CAO Richard C. Cary sold 3,000 shares of the stock in a transaction that occurred on Tuesday, June 2nd. The shares were sold at an average price of $206.00, for a total transaction of $618,000.00. Following the completion of the sale, the chief accounting officer owned 47,819 shares of the company’s stock, valued at approximately $9,850,714. This represents a 5.90% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 1.40% of the company’s stock.

Arthur J. Gallagher & Co. Trading Up 4.1%

NYSE AJG opened at $210.77 on Friday. Arthur J. Gallagher & Co. has a 12 month low of $190.75 and a 12 month high of $337.33. The company has a 50-day moving average of $210.44 and a 200-day moving average of $229.38. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.06 and a quick ratio of 1.06. The company has a market cap of $54.15 billion, a P/E ratio of 34.10, a P/E/G ratio of 1.02 and a beta of 0.52.

Arthur J. Gallagher & Co. (NYSE:AJG) last posted its earnings results on Thursday, April 30th. The financial services provider reported $4.47 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.43 by $0.04. The firm had revenue of $4.71 billion during the quarter, compared to the consensus estimate of $4.73 billion. Arthur J. Gallagher & Co. had a net margin of 10.76% and a return on equity of 12.83%. The company’s revenue was up 29.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.67 EPS. As a group, equities analysts predict that Arthur J. Gallagher & Co. will post 13.27 earnings per share for the current year.

Arthur J. Gallagher & Co. Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 19th. Investors of record on Friday, June 5th will be given a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date of this dividend is Friday, June 5th. Arthur J. Gallagher & Co.’s dividend payout ratio is 45.31%.

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.