Verity & Verity LLC Reduces Stock Position in Arthur J. Gallagher & Co. (NYSE:AJG)

Verity & Verity LLC decreased its stake in Arthur J. Gallagher & Co. (NYSE:AJG) by 1.2% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 41,269 shares of the financial services provider’s stock after selling 490 shares during the quarter. Verity & Verity LLC’s holdings in Arthur J. Gallagher & Co. were worth $14,248,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. MRP Capital Investments LLC purchased a new stake in shares of Arthur J. Gallagher & Co. in the fourth quarter worth about $28,000. New Age Alpha Advisors LLC boosted its stake in shares of Arthur J. Gallagher & Co. by 81.7% in the fourth quarter. New Age Alpha Advisors LLC now owns 109 shares of the financial services provider’s stock worth $31,000 after buying an additional 49 shares during the last quarter. Johnson Financial Group Inc. raised its holdings in Arthur J. Gallagher & Co. by 205.4% in the 4th quarter. Johnson Financial Group Inc. now owns 113 shares of the financial services provider’s stock worth $34,000 after purchasing an additional 76 shares during the period. Parvin Asset Management LLC acquired a new position in Arthur J. Gallagher & Co. in the 4th quarter worth about $35,000. Finally, OFI Invest Asset Management acquired a new position in Arthur J. Gallagher & Co. in the 4th quarter worth about $42,000. Hedge funds and other institutional investors own 85.53% of the company’s stock.

Wall Street Analysts Forecast Growth

AJG has been the subject of a number of analyst reports. Wells Fargo & Company reduced their price target on Arthur J. Gallagher & Co. from $372.00 to $371.00 and set an “overweight” rating for the company in a report on Monday. Jefferies Financial Group reduced their price target on Arthur J. Gallagher & Co. from $266.00 to $265.00 and set a “hold” rating for the company in a report on Friday, April 11th. Redburn Atlantic began coverage on Arthur J. Gallagher & Co. in a report on Tuesday, March 25th. They issued a “neutral” rating and a $352.00 price target for the company. Keefe, Bruyette & Woods increased their target price on Arthur J. Gallagher & Co. from $315.00 to $326.00 and gave the company a “market perform” rating in a report on Thursday, June 5th. Finally, Barclays increased their target price on Arthur J. Gallagher & Co. from $308.00 to $346.00 and gave the company an “equal weight” rating in a report on Friday, April 11th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $319.29.

Arthur J. Gallagher & Co. Price Performance

Shares of NYSE:AJG opened at $320.17 on Friday. The business’s fifty day moving average price is $331.40 and its two-hundred day moving average price is $317.18. The stock has a market cap of $82.00 billion, a PE ratio of 49.11 and a beta of 0.74. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.51 and a current ratio of 1.51. Arthur J. Gallagher & Co. has a one year low of $251.42 and a one year high of $351.23.

Arthur J. Gallagher & Co. (NYSE:AJG) last posted its earnings results on Thursday, May 1st. The financial services provider reported $3.67 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.57 by $0.10. Arthur J. Gallagher & Co. had a net margin of 12.70% and a return on equity of 16.47%. The firm had revenue of $3.69 billion during the quarter, compared to the consensus estimate of $3.85 billion. During the same quarter in the prior year, the company earned $3.45 EPS. The company’s revenue was up 14.5% on a year-over-year basis. On average, analysts forecast that Arthur J. Gallagher & Co. will post 11.54 EPS for the current fiscal year.

Arthur J. Gallagher & Co. Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 20th. Investors of record on Friday, June 6th will be issued a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a yield of 0.81%. The ex-dividend date is Friday, June 6th. Arthur J. Gallagher & Co.’s dividend payout ratio is currently 37.63%.

Insiders Place Their Bets

In other Arthur J. Gallagher & Co. news, VP Scott R. Hudson sold 7,510 shares of the firm’s stock in a transaction dated Friday, March 21st. The shares were sold at an average price of $333.59, for a total transaction of $2,505,260.90. Following the transaction, the vice president now owns 90,020 shares of the company’s stock, valued at approximately $30,029,771.80. This trade represents a 7.70% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Susan E. Pietrucha sold 13,500 shares of the business’s stock in a transaction that occurred on Monday, May 19th. The stock was sold at an average price of $344.13, for a total value of $4,645,755.00. Following the sale, the insider now directly owns 11,941 shares in the company, valued at approximately $4,109,256.33. The trade was a 53.06% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 32,510 shares of company stock worth $11,033,341 in the last three months. 1.30% of the stock is owned by insiders.

Arthur J. Gallagher & Co. Profile

Arthur J. Gallagher & Co engages in the provision of insurance brokerage, reinsurance brokerage, consulting, and third-party claims settlement and administration services. It operates through the following segments: Brokerage, Risk Management, and Corporate. The Brokerage segment consists of retail and wholesale insurance brokerage operations.