Robbins Farley Has $4.20 Million Position in Arthur J. Gallagher & Co. (NYSE:AJG)

Robbins Farley cut its stake in Arthur J. Gallagher & Co. (NYSE:AJG) by 12.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 12,158 shares of the financial services provider’s stock after selling 1,663 shares during the quarter. Arthur J. Gallagher & Co. makes up 2.2% of Robbins Farley’s portfolio, making the stock its 19th biggest holding. Robbins Farley’s holdings in Arthur J. Gallagher & Co. were worth $4,197,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of the stock. Vanguard Group Inc. boosted its holdings in 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 during the period. 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 worth $2,857,737,000 after buying an additional 305,876 shares in the last quarter. Capital World Investors increased its holdings in shares of Arthur J. Gallagher & Co. by 30.4% during the fourth 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 shares of Arthur J. Gallagher & Co. by 14.3% during the fourth 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 acquired a new stake in shares of Arthur J. Gallagher & Co. in the fourth quarter valued at approximately $1,421,591,000. 85.53% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Arthur J. Gallagher & Co.

In related news, VP Scott R. Hudson sold 7,510 shares of the stock in a transaction dated Friday, March 21st. The shares were sold at an average price of $333.59, for a total value of $2,505,260.90. Following the completion of the transaction, the vice president now directly owns 90,020 shares of the company’s stock, valued at $30,029,771.80. This represents a 7.70% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Susan E. Pietrucha sold 13,500 shares of the firm’s stock in a transaction that occurred on Monday, May 19th. The shares were sold at an average price of $344.13, for a total transaction of $4,645,755.00. Following the transaction, the insider now directly 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 disclosure for this sale can be found here. Insiders sold a total of 32,510 shares of company stock worth $11,033,341 over the last three months. Company insiders own 1.30% of the company’s stock.

Arthur J. Gallagher & Co. Price Performance

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

Arthur J. Gallagher & Co. (NYSE:AJG) last issued its earnings results on Thursday, May 1st. The financial services provider reported $3.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 net margin of 12.70% and a return on equity of 16.47%. The business’s revenue for the quarter was up 14.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $3.45 EPS. On average, equities analysts anticipate that Arthur J. Gallagher & Co. will post 11.54 EPS for the current year.

Arthur J. Gallagher & Co. Announces Dividend

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

Analysts Set New Price Targets

Several analysts have commented on the stock. Barclays upped their target price on shares of Arthur J. Gallagher & Co. from $308.00 to $346.00 and gave the company an “equal weight” rating in a research report on Friday, April 11th. Keefe, Bruyette & Woods lifted their target price on Arthur J. Gallagher & Co. from $315.00 to $326.00 and gave the stock a “market perform” rating in a report on Thursday, June 5th. Jefferies Financial Group cut their price target on Arthur J. Gallagher & Co. from $266.00 to $265.00 and set a “hold” rating on the stock in a report on Friday, April 11th. Wells Fargo & Company reduced 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 report on Monday, June 9th. Finally, Redburn Atlantic initiated coverage on Arthur J. Gallagher & Co. in a report on Tuesday, March 25th. They set a “neutral” rating and a $352.00 target price on the stock. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $319.29.

Arthur J. Gallagher & Co. Company 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.