Drive Wealth Management LLC Cuts Stock Position in Arthur J. Gallagher & Co. (NYSE:AJG)

Drive Wealth Management LLC lowered its position in Arthur J. Gallagher & Co. (NYSE:AJG) by 2.0% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,929 shares of the financial services provider’s stock after selling 39 shares during the period. Drive Wealth Management LLC’s holdings in Arthur J. Gallagher & Co. were worth $547,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. W Advisors LLC boosted its position in Arthur J. Gallagher & Co. by 2.4% in the 3rd quarter. W Advisors LLC now owns 1,514 shares of the financial services provider’s stock valued at $426,000 after buying an additional 36 shares during the period. Miracle Mile Advisors LLC boosted its stake in shares of Arthur J. Gallagher & Co. by 0.8% in the 3rd quarter. Miracle Mile Advisors LLC now owns 4,583 shares of the financial services provider’s stock valued at $1,289,000 after buying an additional 38 shares during the period. Covenant Partners LLC boosted its stake in shares of Arthur J. Gallagher & Co. by 0.7% in the 3rd quarter. Covenant Partners LLC now owns 5,326 shares of the financial services provider’s stock valued at $1,499,000 after buying an additional 38 shares during the period. Disciplined Investments LLC lifted its stake in Arthur J. Gallagher & Co. by 0.7% in the third quarter. Disciplined Investments LLC now owns 5,849 shares of the financial services provider’s stock worth $1,635,000 after acquiring an additional 38 shares during the last quarter. Finally, Seelaus Asset Management LLC lifted its stake in Arthur J. Gallagher & Co. by 0.7% in the third quarter. Seelaus Asset Management LLC now owns 5,481 shares of the financial services provider’s stock worth $1,542,000 after acquiring an additional 38 shares during the last quarter. Hedge funds and other institutional investors own 85.53% of the company’s stock.

Arthur J. Gallagher & Co. Price Performance

Shares of AJG opened at $289.71 on Monday. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 0.64. The stock’s 50 day moving average is $291.74 and its two-hundred day moving average is $287.86. Arthur J. Gallagher & Co. has a twelve month low of $227.08 and a twelve month high of $316.72. The firm has a market capitalization of $72.37 billion, a PE ratio of 55.18 and a beta of 0.76.

Arthur J. Gallagher & Co. (NYSE:AJG) last released its quarterly earnings data 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 firm 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 19.12% and a net margin of 10.40%. Arthur J. Gallagher & Co.’s revenue was up 12.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.00 earnings per share. Research analysts anticipate that Arthur J. Gallagher & Co. will post 10.05 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. The Goldman Sachs Group cut shares of Arthur J. Gallagher & Co. from a “buy” rating to a “neutral” rating and set a $313.00 price objective for the company. in a research report on Monday, November 25th. TD Cowen upgraded Arthur J. Gallagher & Co. from a “hold” rating to a “buy” rating and boosted their target price for the stock from $295.00 to $377.00 in a research note on Friday, January 10th. Wells Fargo & Company boosted their price objective on shares of Arthur J. Gallagher & Co. from $315.00 to $344.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 10th. Piper Sandler upgraded shares of Arthur J. Gallagher & Co. from a “neutral” rating to an “overweight” rating and boosted their price objective for the stock from $285.00 to $315.00 in a research report on Wednesday, January 8th. Finally, BMO Capital Markets boosted their price target on shares of Arthur J. Gallagher & Co. from $312.00 to $325.00 and gave the company an “outperform” rating in a research report on Tuesday, November 12th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, Arthur J. Gallagher & Co. presently has a consensus rating of “Hold” and an average target price of $304.07.

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