King Luther Capital Management Corp Purchases 52,456 Shares of Arthur J. Gallagher & Co. (NYSE:AJG)

King Luther Capital Management Corp grew its position in shares of Arthur J. Gallagher & Co. (NYSE:AJG) by 36.7% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 195,522 shares of the financial services provider’s stock after buying an additional 52,456 shares during the period. King Luther Capital Management Corp owned approximately 0.09% of Arthur J. Gallagher & Co. worth $42,931,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in AJG. WealthPlan Investment Management LLC bought a new position in shares of Arthur J. Gallagher & Co. in the first quarter worth $28,000. ZRC Wealth Management LLC bought a new position in shares of Arthur J. Gallagher & Co. in the first quarter worth $29,000. Larson Financial Group LLC increased its position in shares of Arthur J. Gallagher & Co. by 89.9% in the second quarter. Larson Financial Group LLC now owns 131 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 62 shares during the period. Milestone Investment Advisors LLC bought a new position in shares of Arthur J. Gallagher & Co. in the first quarter worth $38,000. Finally, Clear Street Markets LLC increased its position in shares of Arthur J. Gallagher & Co. by 21,100.0% in the fourth quarter. Clear Street Markets LLC now owns 212 shares of the financial services provider’s stock worth $40,000 after purchasing an additional 211 shares during the period. Institutional investors own 81.15% of the company’s stock.

Arthur J. Gallagher & Co. Price Performance

Arthur J. Gallagher & Co. stock opened at $246.56 on Tuesday. The stock’s 50 day moving average is $235.12 and its 200 day moving average is $223.25. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.04 and a quick ratio of 1.04. The firm has a market cap of $53.23 billion, a P/E ratio of 47.23, a P/E/G ratio of 2.07 and a beta of 0.69. Arthur J. Gallagher & Co. has a one year low of $174.45 and a one year high of $249.35.

Arthur J. Gallagher & Co. (NYSE:AJG) last posted its quarterly earnings data on Thursday, October 26th. The financial services provider reported $2.00 EPS for the quarter, topping analysts’ consensus estimates of $1.94 by $0.06. The company had revenue of $2.45 billion for the quarter, compared to analyst estimates of $2.43 billion. Arthur J. Gallagher & Co. had a return on equity of 18.46% and a net margin of 11.76%. The firm’s quarterly revenue was up 21.9% on a year-over-year basis. During the same period in the previous year, the firm earned $1.72 earnings per share. As a group, research analysts expect that Arthur J. Gallagher & Co. will post 8.79 EPS for the current year.

Arthur J. Gallagher & Co. Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Friday, December 1st will be issued a dividend of $0.55 per share. The ex-dividend date is Thursday, November 30th. This represents a $2.20 annualized dividend and a dividend yield of 0.89%. Arthur J. Gallagher & Co.’s dividend payout ratio is 42.15%.

Insider Activity

In other news, CFO Douglas K. Howell sold 30,000 shares of the business’s stock in a transaction that occurred on Thursday, August 24th. The stock was sold at an average price of $225.99, for a total transaction of $6,779,700.00. Following the completion of the sale, the chief financial officer now owns 164,371 shares in the company, valued at $37,146,202.29. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, CFO Douglas K. Howell sold 4,588 shares of the company’s stock in a transaction on Monday, August 28th. The stock was sold at an average price of $228.92, for a total transaction of $1,050,284.96. Following the completion of the sale, the chief financial officer now owns 127,942 shares in the company, valued at $29,288,482.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Douglas K. Howell sold 30,000 shares of the company’s stock in a transaction on Thursday, August 24th. The stock was sold at an average price of $225.99, for a total value of $6,779,700.00. Following the sale, the chief financial officer now owns 164,371 shares of the company’s stock, valued at approximately $37,146,202.29. The disclosure for this sale can be found here. Insiders sold a total of 96,926 shares of company stock worth $22,505,073 over the last quarter. 1.60% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. Argus raised their price target on Arthur J. Gallagher & Co. from $232.00 to $264.00 and gave the stock a “buy” rating in a research report on Wednesday, August 30th. Jefferies Financial Group lifted their target price on Arthur J. Gallagher & Co. from $262.00 to $266.00 in a research report on Friday, October 6th. Royal Bank of Canada lifted their target price on Arthur J. Gallagher & Co. from $240.00 to $255.00 and gave the company an “outperform” rating in a research report on Thursday, September 14th. StockNews.com started coverage on Arthur J. Gallagher & Co. in a research report on Thursday, October 5th. They issued a “hold” rating on the stock. Finally, Raymond James lifted their target price on Arthur J. Gallagher & Co. from $255.00 to $265.00 and gave the company a “strong-buy” rating in a research report on Monday, September 18th. Four analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $243.71.

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.