Arthur J. Gallagher & Co. (NYSE:AJG) Shares Sold by Bleakley Financial Group LLC

Bleakley Financial Group LLC decreased its position in shares of Arthur J. Gallagher & Co. (NYSE:AJG) by 18.9% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,265 shares of the financial services provider’s stock after selling 1,224 shares during the quarter. Bleakley Financial Group LLC’s holdings in Arthur J. Gallagher & Co. were worth $1,481,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of AJG. RFG Advisory LLC lifted its holdings in shares of Arthur J. Gallagher & Co. by 12.2% during the first quarter. RFG Advisory LLC now owns 6,514 shares of the financial services provider’s stock worth $1,629,000 after purchasing an additional 709 shares during the period. Ballentine Partners LLC purchased a new position in Arthur J. Gallagher & Co. during the first quarter valued at approximately $217,000. Financial Synergies Wealth Advisors Inc. raised its position in Arthur J. Gallagher & Co. by 563.4% during the first quarter. Financial Synergies Wealth Advisors Inc. now owns 272 shares of the financial services provider’s stock valued at $68,000 after acquiring an additional 231 shares in the last quarter. Austin Private Wealth LLC raised its position in Arthur J. Gallagher & Co. by 16.3% during the first quarter. Austin Private Wealth LLC now owns 1,368 shares of the financial services provider’s stock valued at $336,000 after acquiring an additional 192 shares in the last quarter. Finally, Annex Advisory Services LLC purchased a new position in Arthur J. Gallagher & Co. during the first quarter valued at approximately $7,872,000. Institutional investors and hedge funds own 85.53% of the company’s stock.

Arthur J. Gallagher & Co. Stock Down 0.5 %

Shares of AJG opened at $289.25 on Friday. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.04 and a current ratio of 1.04. Arthur J. Gallagher & Co. has a one year low of $218.63 and a one year high of $301.04. The stock has a market capitalization of $63.20 billion, a price-to-earnings ratio of 58.55, a PEG ratio of 2.53 and a beta of 0.72. The stock has a 50 day moving average price of $288.84 and a 200 day moving average price of $267.81.

Arthur J. Gallagher & Co. (NYSE:AJG) last released its quarterly earnings data on Thursday, July 25th. The financial services provider reported $2.26 earnings per share for the quarter, topping analysts’ consensus estimates of $2.24 by $0.02. The company had revenue of $2.73 billion for the quarter, compared to analyst estimates of $2.77 billion. Arthur J. Gallagher & Co. had a return on equity of 19.25% and a net margin of 10.41%. The firm’s revenue for the quarter was up 14.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.90 earnings per share. Equities research analysts forecast that Arthur J. Gallagher & Co. will post 10.11 earnings per share for the current fiscal year.

Arthur J. Gallagher & Co. Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 20th. Shareholders of record on Friday, September 6th were paid a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 0.83%. The ex-dividend date of this dividend was Friday, September 6th. Arthur J. Gallagher & Co.’s dividend payout ratio (DPR) is currently 48.58%.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on AJG. Keefe, Bruyette & Woods lifted their price target on Arthur J. Gallagher & Co. from $241.00 to $252.00 and gave the company an “underperform” rating in a research report on Friday, July 26th. Royal Bank of Canada lifted their price target on Arthur J. Gallagher & Co. from $310.00 to $320.00 and gave the company an “outperform” rating in a research report on Friday, September 20th. Bank Of America (Bofa) boosted their price objective on Arthur J. Gallagher & Co. from $255.00 to $265.00 and gave the company an “underperform” rating in a research report on Friday, July 26th. Bank of America boosted their price objective on Arthur J. Gallagher & Co. from $271.00 to $293.00 and gave the company an “underperform” rating in a research report on Thursday, October 10th. Finally, Wells Fargo & Company boosted their price objective on Arthur J. Gallagher & Co. from $309.00 to $315.00 and gave the company an “overweight” rating in a research report on Thursday, October 10th. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $287.00.

Insiders Place Their Bets

In other Arthur J. Gallagher & Co. news, President Thomas Joseph Gallagher sold 15,000 shares of the business’s stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $282.96, for a total transaction of $4,244,400.00. Following the transaction, the president now owns 329,099 shares of the company’s stock, valued at approximately $93,121,853.04. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, President Michael Robert Pesch sold 7,100 shares of the company’s stock in a transaction on Friday, September 13th. The stock was sold at an average price of $296.20, for a total value of $2,103,020.00. Following the transaction, the president now owns 33,267 shares of the company’s stock, valued at $9,853,685.40. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, President Thomas Joseph Gallagher sold 15,000 shares of the business’s stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $282.96, for a total value of $4,244,400.00. Following the completion of the sale, the president now owns 329,099 shares in the company, valued at $93,121,853.04. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 44,145 shares of company stock valued at $12,622,660. Insiders own 1.60% of the company’s stock.

Arthur J. Gallagher & Co. Company 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 entities and individuals 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.