SteelPeak Wealth LLC decreased its position in Arthur J. Gallagher & Co. (NYSE:AJG – Free Report) by 3.9% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,108 shares of the financial services provider’s stock after selling 45 shares during the quarter. SteelPeak Wealth LLC’s holdings in Arthur J. Gallagher & Co. were worth $287,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also modified their holdings of the company. UBS Group AG increased its stake in Arthur J. Gallagher & Co. by 8.5% during the 4th quarter. UBS Group AG now owns 361,441 shares of the financial services provider’s stock worth $81,281,000 after buying an additional 28,359 shares during the period. Norden Group LLC purchased a new stake in shares of Arthur J. Gallagher & Co. during the first quarter worth $3,841,000. Brookstone Capital Management raised its stake in shares of Arthur J. Gallagher & Co. by 70.4% in the first quarter. Brookstone Capital Management now owns 12,851 shares of the financial services provider’s stock valued at $3,213,000 after acquiring an additional 5,308 shares in the last quarter. Sei Investments Co. grew its stake in Arthur J. Gallagher & Co. by 11.7% during the 1st quarter. Sei Investments Co. now owns 194,568 shares of the financial services provider’s stock worth $48,649,000 after purchasing an additional 20,302 shares in the last quarter. Finally, Mackenzie Financial Corp increased its holdings in Arthur J. Gallagher & Co. by 16.1% during the 4th quarter. Mackenzie Financial Corp now owns 112,087 shares of the financial services provider’s stock worth $25,206,000 after purchasing an additional 15,528 shares during the period. 85.53% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
AJG has been the subject of a number of analyst reports. Bank Of America (Bofa) boosted their price objective on Arthur J. Gallagher & Co. from $255.00 to $265.00 and gave the stock an “underperform” rating in a research report on Friday, July 26th. Keefe, Bruyette & Woods boosted their price target on shares of Arthur J. Gallagher & Co. from $241.00 to $252.00 and gave the stock an “underperform” rating in a report on Friday, July 26th. BMO Capital Markets raised their price objective on shares of Arthur J. Gallagher & Co. from $275.00 to $295.00 and gave the company an “outperform” rating in a report on Friday, July 26th. UBS Group increased their target price on Arthur J. Gallagher & Co. from $260.00 to $292.00 and gave the company a “neutral” rating in a report on Wednesday, July 31st. Finally, The Goldman Sachs Group lifted their price target on Arthur J. Gallagher & Co. from $272.00 to $286.00 in a report on Friday, July 26th. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $275.38.
Arthur J. Gallagher & Co. Stock Performance
NYSE AJG remained flat at $284.40 on Friday. The company’s stock had a trading volume of 48,726 shares, compared to its average volume of 839,414. The firm has a market capitalization of $62.14 billion, a PE ratio of 57.57, a P/E/G ratio of 2.41 and a beta of 0.72. Arthur J. Gallagher & Co. has a one year low of $215.37 and a one year high of $290.31. The company’s 50-day moving average is $269.83 and its 200-day moving average is $253.12. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.05 and a current ratio of 1.04.
Arthur J. Gallagher & Co. (NYSE:AJG – Get Free Report) last released its quarterly earnings results on Thursday, July 25th. The financial services provider reported $2.26 EPS for the quarter, beating the consensus estimate of $2.24 by $0.02. Arthur J. Gallagher & Co. had a net margin of 10.41% and a return on equity of 19.25%. The firm had revenue of $2.73 billion during the quarter, compared to the consensus estimate of $2.77 billion. During the same quarter in the prior year, the firm earned $1.90 EPS. Arthur J. Gallagher & Co.’s revenue for the quarter was up 14.3% on a year-over-year basis. On average, sell-side analysts predict that Arthur J. Gallagher & Co. will post 10.15 earnings per share for the current year.
Arthur J. Gallagher & Co. Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Friday, September 20th. Investors of record on Friday, September 6th will be issued a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 0.84%. The ex-dividend date is Friday, September 6th. Arthur J. Gallagher & Co.’s dividend payout ratio is currently 48.58%.
Insider Activity at Arthur J. Gallagher & Co.
In other news, General Counsel Walter D. Bay sold 800 shares of the business’s stock in a transaction that occurred on Monday, May 20th. The stock was sold at an average price of $257.24, for a total value of $205,792.00. Following the transaction, the general counsel now owns 44,691 shares of the company’s stock, valued at $11,496,312.84. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In related news, Director David S. Johnson sold 850 shares of the firm’s stock in a transaction dated Wednesday, May 22nd. The shares were sold at an average price of $257.84, for a total value of $219,164.00. Following the completion of the sale, the director now owns 45,108 shares in the company, valued at $11,630,646.72. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, General Counsel Walter D. Bay sold 800 shares of the stock in a transaction that occurred on Monday, May 20th. The stock was sold at an average price of $257.24, for a total value of $205,792.00. Following the transaction, the general counsel now directly owns 44,691 shares of the company’s stock, valued at $11,496,312.84. The disclosure for this sale can be found here. Insiders have sold 49,998 shares of company stock worth $13,767,866 in the last quarter. Company insiders own 1.60% of the company’s stock.
About Arthur J. Gallagher & Co.
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.
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