Fieldpoint Private Securities LLC decreased its holdings in Arthur J. Gallagher & Co. (NYSE:AJG – Get Rating) by 41.5% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 169 shares of the financial services provider’s stock after selling 120 shares during the quarter. Fieldpoint Private Securities LLC’s holdings in Arthur J. Gallagher & Co. were worth $30,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in AJG. LPL Financial LLC raised its holdings in Arthur J. Gallagher & Co. by 6.1% in the 3rd quarter. LPL Financial LLC now owns 55,531 shares of the financial services provider’s stock worth $8,255,000 after purchasing an additional 3,168 shares during the period. National Asset Management Inc. raised its holdings in shares of Arthur J. Gallagher & Co. by 32.7% during the third quarter. National Asset Management Inc. now owns 6,307 shares of the financial services provider’s stock valued at $937,000 after acquiring an additional 1,555 shares during the last quarter. Atria Investments LLC acquired a new position in shares of Arthur J. Gallagher & Co. during the third quarter valued at approximately $1,067,000. EP Wealth Advisors LLC acquired a new position in shares of Arthur J. Gallagher & Co. during the third quarter valued at approximately $252,000. Finally, Kentucky Retirement Systems Insurance Trust Fund acquired a new position in shares of Arthur J. Gallagher & Co. during the third quarter valued at approximately $771,000. 84.18% of the stock is owned by institutional investors.
In other news, insider Susan E. Pietrucha sold 4,966 shares of the stock in a transaction on Tuesday, June 7th. The stock was sold at an average price of $162.04, for a total value of $804,690.64. Following the sale, the insider now directly owns 17,160 shares in the company, valued at $2,780,606.40. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, VP William F. Ziebell sold 29,434 shares of the stock in a transaction on Thursday, June 16th. The shares were sold at an average price of $149.27, for a total value of $4,393,613.18. Following the completion of the sale, the vice president now owns 27,614 shares in the company, valued at $4,121,941.78. The disclosure for this sale can be found here. Company insiders own 1.40% of the company’s stock.
Arthur J. Gallagher & Co. (NYSE:AJG – Get Rating) last released its quarterly earnings results on Thursday, April 28th. The financial services provider reported $2.81 EPS for the quarter, topping the consensus estimate of $2.77 by $0.04. Arthur J. Gallagher & Co. had a return on equity of 15.45% and a net margin of 11.41%. The business had revenue of $2.40 billion during the quarter, compared to analyst estimates of $2.40 billion. During the same period last year, the business posted $2.02 earnings per share. The company’s quarterly revenue was up 12.7% on a year-over-year basis. Sell-side analysts expect that Arthur J. Gallagher & Co. will post 7.77 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Friday, June 17th. Stockholders of record on Friday, June 3rd were given a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a dividend yield of 1.30%. Arthur J. Gallagher & Co.’s dividend payout ratio is currently 44.93%.
A number of equities analysts have commented on the company. Jefferies Financial Group reduced their target price on Arthur J. Gallagher & Co. from $214.00 to $211.00 in a report on Thursday, June 16th. Raymond James upgraded Arthur J. Gallagher & Co. from an “outperform” rating to a “strong-buy” rating and upped their price target for the company from $185.00 to $195.00 in a research report on Monday, May 2nd. StockNews.com started coverage on Arthur J. Gallagher & Co. in a research report on Thursday, March 31st. They issued a “hold” rating for the company. Truist Financial upped their price target on Arthur J. Gallagher & Co. from $200.00 to $205.00 and gave the company a “buy” rating in a research report on Wednesday, April 6th. Finally, Wells Fargo & Company upped their price target on Arthur J. Gallagher & Co. from $193.00 to $209.00 and gave the company an “overweight” rating in a research report on Tuesday, April 12th. Five equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $183.11.
About Arthur J. Gallagher & Co. (Get Rating)
Arthur J. Gallagher & Co, together with its subsidiaries, provides insurance brokerage, consulting, third-party claims settlement, and administration services in the United States, Australia, Bermuda, Canada, the Caribbean, New Zealand, India, and the United Kingdom. It operates through Brokerage and Risk Management segments.
- Get a free copy of the StockNews.com research report on Arthur J. Gallagher & Co. (AJG)
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