Atlas Capital Advisors LLC trimmed its position in Arthur J Gallagher & Co (NYSE:AJG) by 71.6% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,203 shares of the financial services provider’s stock after selling 3,030 shares during the period. Atlas Capital Advisors LLC’s holdings in Arthur J Gallagher & Co were worth $117,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently modified their holdings of AJG. Ellevest Inc. raised its stake in shares of Arthur J Gallagher & Co by 115.6% in the 1st quarter. Ellevest Inc. now owns 332 shares of the financial services provider’s stock worth $27,000 after buying an additional 178 shares in the last quarter. Ameritas Investment Company LLC acquired a new position in Arthur J Gallagher & Co during the first quarter worth about $37,000. Center for Financial Planning Inc. raised its position in Arthur J Gallagher & Co by 22.1% in the first quarter. Center for Financial Planning Inc. now owns 653 shares of the financial services provider’s stock worth $53,000 after acquiring an additional 118 shares in the last quarter. Parallel Advisors LLC lifted its holdings in Arthur J Gallagher & Co by 95.0% in the 1st quarter. Parallel Advisors LLC now owns 667 shares of the financial services provider’s stock valued at $54,000 after acquiring an additional 325 shares during the last quarter. Finally, Private Ocean LLC boosted its position in shares of Arthur J Gallagher & Co by 416.2% during the 2nd quarter. Private Ocean LLC now owns 573 shares of the financial services provider’s stock valued at $55,000 after purchasing an additional 462 shares in the last quarter. 81.39% of the stock is owned by hedge funds and other institutional investors.
In other Arthur J Gallagher & Co news, Director David S. Johnson sold 1,000 shares of the stock in a transaction that occurred on Thursday, June 4th. The shares were sold at an average price of $97.97, for a total value of $97,970.00. Following the completion of the sale, the director now owns 48,178 shares in the company, valued at approximately $4,719,998.66. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.40% of the stock is currently owned by corporate insiders.
Arthur J Gallagher & Co (NYSE:AJG) last announced its quarterly earnings data on Thursday, July 30th. The financial services provider reported $0.94 EPS for the quarter, topping the Zacks’ consensus estimate of $0.72 by $0.22. Arthur J Gallagher & Co had a return on equity of 16.38% and a net margin of 10.35%. The firm had revenue of $1.55 billion during the quarter, compared to analyst estimates of $1.64 billion. On average, sell-side analysts predict that Arthur J Gallagher & Co will post 4.01 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 18th. Investors of record on Friday, September 4th will be given a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 1.67%. The ex-dividend date is Thursday, September 3rd. Arthur J Gallagher & Co’s payout ratio is presently 49.32%.
A number of analysts recently weighed in on the stock. Raymond James raised their target price on shares of Arthur J Gallagher & Co from $85.00 to $110.00 and gave the stock a “strong-buy” rating in a report on Monday, June 22nd. Wells Fargo & Co reissued a “buy” rating and set a $110.00 price objective (up from $101.00) on shares of Arthur J Gallagher & Co in a research note on Wednesday, June 17th. Deutsche Bank raised Arthur J Gallagher & Co from a “hold” rating to a “buy” rating and set a $120.00 target price on the stock in a research report on Monday, July 6th. Cfra increased their price target on Arthur J Gallagher & Co from $82.00 to $97.00 and gave the company a “hold” rating in a research report on Wednesday, May 20th. Finally, SunTrust Banks lifted their price target on Arthur J Gallagher & Co from $110.00 to $118.00 and gave the stock a “buy” rating in a research note on Thursday, June 18th. Three investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. The stock has an average rating of “Buy” and an average target price of $109.90.
Arthur J Gallagher & Co Profile
Arthur J. Gallagher & Co, together with its subsidiaries, provides insurance brokerage, consulting, and third party claims settlement and administration services to entities in the United States and internationally. Its Brokerage segment consists of retail and wholesale insurance brokerage operations.
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