Arthur J. Gallagher & Co. (NYSE:AJG) is Campbell Newman Asset Management Inc.’s 7th Largest Position

Campbell Newman Asset Management Inc. lowered its position in shares of Arthur J. Gallagher & Co. (NYSE:AJG) by 11.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 125,491 shares of the financial services provider’s stock after selling 15,672 shares during the quarter. Arthur J. Gallagher & Co. comprises approximately 3.7% of Campbell Newman Asset Management Inc.’s portfolio, making the stock its 7th biggest position. Campbell Newman Asset Management Inc.’s holdings in Arthur J. Gallagher & Co. were worth $43,325,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in AJG. Vanguard Group Inc. increased its holdings in shares of Arthur J. Gallagher & Co. by 14.9% during the fourth quarter. Vanguard Group Inc. now owns 29,672,134 shares of the financial services provider’s stock valued at $8,422,435,000 after acquiring an additional 3,851,661 shares in the last quarter. Capital International Investors increased its holdings in shares of Arthur J. Gallagher & Co. by 3.1% during the fourth quarter. Capital International Investors now owns 10,067,647 shares of the financial services provider’s stock valued at $2,857,737,000 after acquiring an additional 305,876 shares in the last quarter. Capital World Investors increased its holdings in Arthur J. Gallagher & Co. by 30.4% in the 4th quarter. Capital World Investors now owns 8,199,413 shares of the financial services provider’s stock worth $2,327,403,000 after buying an additional 1,910,471 shares in the last quarter. Geode Capital Management LLC increased its holdings in Arthur J. Gallagher & Co. by 14.3% in the 4th quarter. Geode Capital Management LLC now owns 6,277,993 shares of the financial services provider’s stock worth $1,779,248,000 after buying an additional 787,265 shares in the last quarter. Finally, Norges Bank bought a new stake in Arthur J. Gallagher & Co. in the 4th quarter worth about $1,421,591,000. Hedge funds and other institutional investors own 85.53% of the company’s stock.

Insider Activity

In other Arthur J. Gallagher & Co. news, insider Susan E. Pietrucha sold 13,500 shares of the company’s stock in a transaction on Monday, May 19th. The stock was sold at an average price of $344.13, for a total value of $4,645,755.00. Following the transaction, the insider now owns 11,941 shares of the company’s stock, valued at $4,109,256.33. This represents a 53.06% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director David S. Johnson sold 1,000 shares of the company’s stock in a transaction on Friday, May 16th. The shares were sold at an average price of $342.04, for a total value of $342,040.00. Following the completion of the transaction, the director now directly owns 45,323 shares in the company, valued at $15,502,278.92. This trade represents a 2.16% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 32,510 shares of company stock valued at $11,033,341. 1.30% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

AJG has been the subject of several research analyst reports. Jefferies Financial Group reduced their price objective on Arthur J. Gallagher & Co. from $266.00 to $265.00 and set a “hold” rating for the company in a report on Friday, April 11th. Barclays boosted their price target on Arthur J. Gallagher & Co. from $308.00 to $346.00 and gave the company an “equal weight” rating in a research note on Friday, April 11th. Redburn Atlantic began coverage on Arthur J. Gallagher & Co. in a research note on Tuesday, March 25th. They set a “neutral” rating and a $352.00 price target for the company. Keefe, Bruyette & Woods boosted their price target on Arthur J. Gallagher & Co. from $315.00 to $326.00 and gave the company a “market perform” rating in a research note on Thursday, June 5th. Finally, Wells Fargo & Company cut their price target on Arthur J. Gallagher & Co. from $372.00 to $371.00 and set an “overweight” rating for the company in a research note on Monday, June 9th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $319.29.

Arthur J. Gallagher & Co. Stock Down 1.2%

NYSE AJG opened at $316.38 on Friday. The stock has a market cap of $81.02 billion, a PE ratio of 48.52 and a beta of 0.74. Arthur J. Gallagher & Co. has a 12 month low of $251.42 and a 12 month high of $351.23. The stock’s 50 day moving average is $331.51 and its 200 day moving average is $317.21. The company has a current ratio of 1.51, a quick ratio of 1.51 and a debt-to-equity ratio of 0.63.

Arthur J. Gallagher & Co. (NYSE:AJG) last issued its quarterly earnings data on Thursday, May 1st. The financial services provider reported $3.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.57 by $0.10. The business had revenue of $3.69 billion for the quarter, compared to analysts’ expectations of $3.85 billion. Arthur J. Gallagher & Co. had a return on equity of 16.47% and a net margin of 12.70%. The company’s revenue for the quarter was up 14.5% on a year-over-year basis. During the same period in the prior year, the firm earned $3.45 EPS. Research analysts predict that Arthur J. Gallagher & Co. will post 11.54 EPS for the current fiscal year.

Arthur J. Gallagher & Co. Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 20th. Stockholders of record on Friday, June 6th will be given a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a dividend yield of 0.82%. The ex-dividend date of this dividend is Friday, June 6th. Arthur J. Gallagher & Co.’s dividend payout ratio is currently 37.63%.

Arthur J. Gallagher & Co. Profile

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.