Arthur J. Gallagher & Co. (NYSE:AJG) Shares Purchased by Invesco LLC

Invesco LLC grew its position in shares of Arthur J. Gallagher & Co. (NYSE:AJG) by 3.0% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,915 shares of the financial services provider’s stock after purchasing an additional 56 shares during the quarter. Invesco LLC’s holdings in Arthur J. Gallagher & Co. were worth $661,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently bought and sold shares of AJG. Chevy Chase Trust Holdings LLC raised its stake in shares of Arthur J. Gallagher & Co. by 1.8% during the first quarter. Chevy Chase Trust Holdings LLC now owns 133,448 shares of the financial services provider’s stock worth $46,072,000 after purchasing an additional 2,319 shares during the last quarter. Spirepoint Private Client LLC increased its stake in Arthur J. Gallagher & Co. by 12.8% in the 1st quarter. Spirepoint Private Client LLC now owns 18,022 shares of the financial services provider’s stock valued at $6,222,000 after buying an additional 2,049 shares during the period. Asset Management One Co. Ltd. lifted its stake in shares of Arthur J. Gallagher & Co. by 10.4% in the 1st quarter. Asset Management One Co. Ltd. now owns 108,134 shares of the financial services provider’s stock worth $37,332,000 after acquiring an additional 10,216 shares during the period. Oppenheimer & Co. Inc. boosted its holdings in shares of Arthur J. Gallagher & Co. by 1.6% in the first quarter. Oppenheimer & Co. Inc. now owns 7,154 shares of the financial services provider’s stock valued at $2,470,000 after acquiring an additional 113 shares in the last quarter. Finally, HWG Holdings LP acquired a new position in shares of Arthur J. Gallagher & Co. during the first quarter worth about $25,000. Hedge funds and other institutional investors own 85.53% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently issued reports on AJG. Redburn Atlantic began coverage on Arthur J. Gallagher & Co. in a research note on Tuesday, March 25th. They set a “neutral” rating and a $352.00 target price for the company. Jefferies Financial Group reduced their price objective on shares of Arthur J. Gallagher & Co. from $266.00 to $265.00 and set a “hold” rating for the company in a research note on Friday, April 11th. Wells Fargo & Company lowered their target price on Arthur J. Gallagher & Co. from $372.00 to $371.00 and set an “overweight” rating on the stock in a report on Monday, June 9th. Keefe, Bruyette & Woods lifted their price target on Arthur J. Gallagher & Co. from $315.00 to $326.00 and gave the stock a “market perform” rating in a research note on Thursday, June 5th. Finally, Barclays raised their target price on shares of 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 investment analysts have rated the stock with a sell rating, seven have issued a hold rating and five have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $319.29.

Insiders Place Their Bets

In related news, VP Scott R. Hudson sold 10,500 shares of the company’s stock in a transaction on Wednesday, May 21st. The shares were sold at an average price of $337.17, for a total transaction of $3,540,285.00. Following the completion of the sale, the vice president now directly owns 91,175 shares of the company’s stock, valued at approximately $30,741,474.75. This represents a 10.33% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director David S. Johnson sold 1,000 shares of the firm’s stock in a transaction dated Friday, May 16th. The shares were sold at an average price of $342.04, for a total value of $342,040.00. Following the completion of the transaction, the director now directly owns 45,323 shares in the company, valued at $15,502,278.92. This trade represents a 2.16% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 25,000 shares of company stock worth $8,528,080 over the last three months. 1.30% of the stock is owned by insiders.

Arthur J. Gallagher & Co. Trading Up 1.3%

NYSE AJG opened at $324.31 on Tuesday. 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. has a 12 month low of $251.42 and a 12 month high of $351.23. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.44 and a quick ratio of 1.44. The company has a 50-day moving average of $330.50 and a 200-day moving average of $317.76.

Arthur J. Gallagher & Co. (NYSE:AJG) last issued its quarterly 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. The firm had revenue of $3.69 billion during the quarter, compared to analyst estimates of $3.85 billion. Arthur J. Gallagher & Co. had a net margin of 14.39% and a return on equity of 14.83%. Arthur J. Gallagher & Co.’s revenue for the quarter was up 14.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $3.45 earnings per share. As a group, equities analysts predict that Arthur J. Gallagher & Co. will post 11.54 earnings per share for the current year.

Arthur J. Gallagher & Co. Dividend Announcement

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

Arthur J. Gallagher & Co. Company 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.