Kestra Private Wealth Services LLC Sells 346 Shares of Arthur J. Gallagher & Co. (NYSE:AJG)

Kestra Private Wealth Services LLC reduced its holdings in shares of Arthur J. Gallagher & Co. (NYSE:AJGGet Rating) by 17.3% during the first quarter, Holdings Channel reports. The fund owned 1,653 shares of the financial services provider’s stock after selling 346 shares during the period. Kestra Private Wealth Services LLC’s holdings in Arthur J. Gallagher & Co. were worth $289,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. FinTrust Capital Advisors LLC bought a new position in Arthur J. Gallagher & Co. during the first quarter valued at approximately $25,000. Riverview Trust Co bought a new position in shares of Arthur J. Gallagher & Co. in the first quarter worth approximately $34,000. Ahrens Investment Partners LLC bought a new position in shares of Arthur J. Gallagher & Co. in the first quarter worth approximately $37,000. Zullo Investment Group Inc. grew its holdings in shares of Arthur J. Gallagher & Co. by 223.0% in the first quarter. Zullo Investment Group Inc. now owns 239 shares of the financial services provider’s stock worth $42,000 after purchasing an additional 165 shares during the last quarter. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA bought a new position in shares of Arthur J. Gallagher & Co. in the fourth quarter worth approximately $51,000. 81.22% of the stock is currently owned by institutional investors.

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

In other news, CAO Richard C. Cary sold 3,383 shares of Arthur J. Gallagher & Co. stock in a transaction dated Tuesday, August 9th. The stock was sold at an average price of $182.16, for a total value of $616,247.28. Following the completion of the transaction, the chief accounting officer now owns 36,310 shares of the company’s stock, valued at approximately $6,614,229.60. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, CAO Richard C. Cary sold 3,383 shares of Arthur J. Gallagher & Co. stock in a transaction dated Tuesday, August 9th. The stock was sold at an average price of $182.16, for a total value of $616,247.28. Following the completion of the transaction, the chief accounting officer now owns 36,310 shares of the company’s stock, valued at approximately $6,614,229.60. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, General Counsel Walter D. Bay sold 5,100 shares of Arthur J. Gallagher & Co. stock in a transaction dated Tuesday, August 9th. The stock was sold at an average price of $181.00, for a total value of $923,100.00. Following the completion of the transaction, the general counsel now directly owns 38,217 shares of the company’s stock, valued at approximately $6,917,277. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 31,683 shares of company stock valued at $5,901,941. 1.40% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on AJG shares. Royal Bank of Canada upgraded shares of Arthur J. Gallagher & Co. from a “sector perform” rating to an “outperform” rating and raised their target price for the stock from $182.00 to $185.00 in a report on Thursday, June 16th. Evercore ISI set a $195.00 target price on shares of Arthur J. Gallagher & Co. in a report on Monday, June 20th. Argus began coverage on shares of Arthur J. Gallagher & Co. in a report on Friday, August 26th. They issued a “buy” rating and a $215.00 price target on the stock. The Goldman Sachs Group began coverage on shares of Arthur J. Gallagher & Co. in a report on Tuesday, July 12th. They issued a “buy” rating and a $198.00 price target on the stock. Finally, Raymond James lifted their price target on shares of Arthur J. Gallagher & Co. from $195.00 to $205.00 and gave the company a “strong-buy” rating in a report on Monday, August 1st. Three investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $201.90.

Arthur J. Gallagher & Co. Stock Performance

Shares of Arthur J. Gallagher & Co. stock opened at $179.17 on Wednesday. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.63. The firm has a market capitalization of $37.69 billion, a P/E ratio of 36.20, a P/E/G ratio of 2.31 and a beta of 0.67. The business has a fifty day simple moving average of $179.84 and a two-hundred day simple moving average of $170.49. Arthur J. Gallagher & Co. has a 12 month low of $146.43 and a 12 month high of $191.99.

Arthur J. Gallagher & Co. (NYSE:AJGGet Rating) last announced its quarterly earnings data on Thursday, July 28th. The financial services provider reported $1.70 EPS for the quarter, beating the consensus estimate of $1.68 by $0.02. The business had revenue of $2.04 billion during the quarter, compared to analyst estimates of $2.04 billion. Arthur J. Gallagher & Co. had a return on equity of 16.62% and a net margin of 12.31%. The company’s revenue for the quarter was up 5.7% on a year-over-year basis. During the same quarter last year, the firm posted $1.17 earnings per share. On average, equities analysts forecast that Arthur J. Gallagher & Co. will post 7.78 earnings per share for the current fiscal year.

Arthur J. Gallagher & Co. Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 16th. Shareholders of record on Friday, September 2nd were given a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a yield of 1.14%. The ex-dividend date of this dividend was Thursday, September 1st. Arthur J. Gallagher & Co.’s dividend payout ratio is currently 41.21%.

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.

See Also

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Institutional Ownership by Quarter for Arthur J. Gallagher & Co. (NYSE:AJG)

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