Piscataqua Savings Bank Has $44,000 Stock Position in Arthur J. Gallagher & Co. (NYSE:AJG)

Piscataqua Savings Bank lowered its holdings in Arthur J. Gallagher & Co. (NYSE:AJG) by 21.6% in the second quarter, HoldingsChannel.com reports. The firm owned 200 shares of the financial services provider’s stock after selling 55 shares during the quarter. Piscataqua Savings Bank’s holdings in Arthur J. Gallagher & Co. were worth $44,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also made changes to their positions in the stock. Norges Bank acquired a new position in Arthur J. Gallagher & Co. in the 4th quarter valued at $1,431,788,000. Geode Capital Management LLC raised its stake in Arthur J. Gallagher & Co. by 1.7% in the first quarter. Geode Capital Management LLC now owns 4,609,810 shares of the financial services provider’s stock valued at $880,442,000 after purchasing an additional 74,974 shares in the last quarter. Boston Partners bought a new stake in Arthur J. Gallagher & Co. during the first quarter worth about $418,715,000. Morgan Stanley increased its holdings in Arthur J. Gallagher & Co. by 40.6% in the 4th quarter. Morgan Stanley now owns 2,143,144 shares of the financial services provider’s stock valued at $404,069,000 after buying an additional 619,008 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its position in shares of Arthur J. Gallagher & Co. by 0.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,873,530 shares of the financial services provider’s stock valued at $346,227,000 after buying an additional 16,245 shares in the last quarter. 81.15% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Arthur J. Gallagher & Co. news, CFO Douglas K. Howell sold 4,588 shares of the business’s stock in a transaction on Monday, August 28th. The stock was sold at an average price of $228.92, for a total value of $1,050,284.96. Following the sale, the chief financial officer now directly owns 127,942 shares in the company, valued at $29,288,482.64. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other news, VP Christopher E. Mead sold 3,300 shares of the company’s stock in a transaction dated Friday, August 25th. The stock was sold at an average price of $226.14, for a total transaction of $746,262.00. Following the sale, the vice president now directly owns 10,816 shares in the company, valued at $2,445,930.24. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Douglas K. Howell sold 4,588 shares of the firm’s stock in a transaction that occurred on Monday, August 28th. The shares were sold at an average price of $228.92, for a total transaction of $1,050,284.96. Following the completion of the transaction, the chief financial officer now owns 127,942 shares of the company’s stock, valued at $29,288,482.64. The disclosure for this sale can be found here. In the last quarter, insiders have sold 37,888 shares of company stock valued at $8,576,247. 1.40% of the stock is owned by company insiders.

Arthur J. Gallagher & Co. Trading Up 1.4 %

NYSE AJG opened at $233.32 on Tuesday. Arthur J. Gallagher & Co. has a 52 week low of $167.93 and a 52 week high of $233.49. The business has a 50 day moving average price of $222.92 and a 200-day moving average price of $209.99. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.58. The company has a market cap of $50.35 billion, a price-to-earnings ratio of 45.48, a P/E/G ratio of 2.16 and a beta of 0.69.

Arthur J. Gallagher & Co. (NYSE:AJG) last issued its quarterly earnings data on Thursday, July 27th. The financial services provider reported $1.90 EPS for the quarter, topping analysts’ consensus estimates of $1.86 by $0.04. The firm had revenue of $2.44 billion during the quarter, compared to analyst estimates of $2.36 billion. Arthur J. Gallagher & Co. had a return on equity of 18.65% and a net margin of 12.11%. The company’s revenue for the quarter was up 19.5% on a year-over-year basis. During the same period in the previous year, the company posted $1.70 EPS. As a group, equities analysts expect that Arthur J. Gallagher & Co. will post 8.74 earnings per share for the current fiscal year.

Arthur J. Gallagher & Co. Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, September 15th. Stockholders of record on Friday, September 1st were paid a dividend of $0.55 per share. The ex-dividend date was Thursday, August 31st. This represents a $2.20 annualized dividend and a dividend yield of 0.94%. Arthur J. Gallagher & Co.’s payout ratio is currently 42.88%.

Wall Street Analyst Weigh In

AJG has been the topic of a number of recent analyst reports. Raymond James lifted their price objective on shares of Arthur J. Gallagher & Co. from $255.00 to $265.00 and gave the company a “strong-buy” rating in a research note on Monday. Jefferies Financial Group boosted their target price on shares of Arthur J. Gallagher & Co. from $238.00 to $245.00 in a research note on Friday, June 16th. Evercore ISI upped their price objective on Arthur J. Gallagher & Co. from $231.00 to $233.00 in a research note on Friday, June 16th. Royal Bank of Canada boosted their target price on shares of Arthur J. Gallagher & Co. from $240.00 to $255.00 and gave the stock an “outperform” rating in a report on Thursday, September 14th. Finally, StockNews.com initiated coverage on shares of Arthur J. Gallagher & Co. in a research note on Thursday, August 17th. They issued a “hold” rating on the stock. Four equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Arthur J. Gallagher & Co. has an average rating of “Moderate Buy” and a consensus target price of $235.31.

Arthur J. Gallagher & Co. Profile

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 businesses and organizations 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.