Arthur J. Gallagher & Co. (NYSE:AJG) is Family Legacy Inc.’s 3rd Largest Position

Family Legacy Inc. reduced its stake in Arthur J. Gallagher & Co. (NYSE:AJG) by 7.7% in the first quarter, HoldingsChannel reports. The institutional investor owned 20,909 shares of the financial services provider’s stock after selling 1,736 shares during the quarter. Arthur J. Gallagher & Co. accounts for approximately 2.5% of Family Legacy Inc.’s portfolio, making the stock its 3rd biggest position. Family Legacy Inc.’s holdings in Arthur J. Gallagher & Co. were worth $7,219,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Vanguard Group Inc. increased its position in shares of Arthur J. Gallagher & Co. by 14.9% during the 4th quarter. Vanguard Group Inc. now owns 29,672,134 shares of the financial services provider’s stock valued at $8,422,435,000 after purchasing an additional 3,851,661 shares during the last quarter. Capital International Investors increased its position in shares of Arthur J. Gallagher & Co. by 3.1% during the 4th quarter. Capital International Investors now owns 10,067,647 shares of the financial services provider’s stock valued at $2,857,737,000 after purchasing an additional 305,876 shares during the last quarter. Capital World Investors increased its position in shares of Arthur J. Gallagher & Co. by 30.4% during the 4th quarter. Capital World Investors now owns 8,199,413 shares of the financial services provider’s stock valued at $2,327,403,000 after purchasing an additional 1,910,471 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Arthur J. Gallagher & Co. by 14.3% during the 4th quarter. Geode Capital Management LLC now owns 6,277,993 shares of the financial services provider’s stock valued at $1,779,248,000 after purchasing an additional 787,265 shares during the last quarter. Finally, Norges Bank purchased a new stake in shares of Arthur J. Gallagher & Co. during the 4th quarter valued at $1,421,591,000. 85.53% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

AJG has been the subject of several research analyst reports. Jefferies Financial Group decreased their target price on Arthur J. Gallagher & Co. from $266.00 to $265.00 and set a “hold” rating for the company in a research report on Friday, April 11th. Redburn Atlantic assumed coverage on Arthur J. Gallagher & Co. in a report on Tuesday, March 25th. They issued a “neutral” rating and a $352.00 price objective for the company. Wells Fargo & Company decreased their price objective on Arthur J. Gallagher & Co. from $372.00 to $371.00 and set an “overweight” rating for the company in a report on Monday, June 9th. Barclays lifted their price objective on Arthur J. Gallagher & Co. from $308.00 to $346.00 and gave the stock an “equal weight” rating in a report on Friday, April 11th. Finally, Keefe, Bruyette & Woods lifted their price objective on Arthur J. Gallagher & Co. from $315.00 to $326.00 and gave the stock a “market perform” rating in a report on Thursday, June 5th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $319.29.

Insider Activity

In other news, Director David S. Johnson sold 1,000 shares of Arthur J. Gallagher & Co. stock in a transaction dated Friday, May 16th. The stock was sold at an average price of $342.04, for a total transaction of $342,040.00. Following the completion of the sale, the director now owns 45,323 shares in the company, valued at approximately $15,502,278.92. This trade represents a 2.16% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Susan E. Pietrucha sold 13,500 shares of Arthur J. Gallagher & Co. stock in a transaction dated Monday, May 19th. The shares were sold at an average price of $344.13, for a total value of $4,645,755.00. Following the sale, the insider now owns 11,941 shares of the company’s stock, valued at approximately $4,109,256.33. This trade represents a 53.06% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 25,000 shares of company stock worth $8,528,080. 1.30% of the stock is currently owned by insiders.

Arthur J. Gallagher & Co. Stock Up 1.3%

Shares of NYSE AJG opened at $324.31 on Tuesday. Arthur J. Gallagher & Co. has a 52 week low of $251.42 and a 52 week high of $351.23. The business has a 50-day simple moving average of $330.50 and a two-hundred day simple moving average of $317.76. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 0.56. The company has a market cap of $83.06 billion, a P/E ratio of 46.93 and a beta of 0.74.

Arthur J. Gallagher & Co. (NYSE:AJG) last issued its earnings results on Thursday, May 1st. The financial services provider reported $3.67 EPS for the quarter, topping the consensus estimate of $3.57 by $0.10. Arthur J. Gallagher & Co. had a return on equity of 14.83% and a net margin of 14.39%. The business had revenue of $3.69 billion during the quarter, compared to the consensus estimate of $3.85 billion. During the same quarter last year, the company earned $3.45 EPS. The firm’s revenue was up 14.5% compared to the same quarter last year. Research analysts anticipate that Arthur J. Gallagher & Co. will post 11.54 earnings per share for the current fiscal year.

Arthur J. Gallagher & Co. Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, June 20th. Shareholders of record on Friday, June 6th were paid a $0.65 dividend. The ex-dividend date was Friday, June 6th. This represents a $2.60 annualized dividend and a yield of 0.80%. Arthur J. Gallagher & Co.’s dividend payout ratio is currently 37.63%.

About Arthur J. Gallagher & Co.

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.