Consolidated Capital Management LLC Sells 150 Shares of Arthur J. Gallagher & Co. $AJG

Consolidated Capital Management LLC cut its holdings in Arthur J. Gallagher & Co. (NYSE:AJG) by 18.2% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 675 shares of the financial services provider’s stock after selling 150 shares during the period. Consolidated Capital Management LLC’s holdings in Arthur J. Gallagher & Co. were worth $216,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in AJG. CWA Asset Management Group LLC increased its stake in Arthur J. Gallagher & Co. by 22.5% during the first quarter. CWA Asset Management Group LLC now owns 1,125 shares of the financial services provider’s stock worth $388,000 after acquiring an additional 207 shares during the last quarter. Two Sigma Investments LP bought a new stake in shares of Arthur J. Gallagher & Co. in the 4th quarter valued at approximately $382,000. IFM Investors Pty Ltd boosted its holdings in shares of Arthur J. Gallagher & Co. by 5.7% in the 1st quarter. IFM Investors Pty Ltd now owns 43,953 shares of the financial services provider’s stock worth $15,174,000 after purchasing an additional 2,362 shares during the period. Golden State Wealth Management LLC increased its position in shares of Arthur J. Gallagher & Co. by 2,750.0% during the 1st quarter. Golden State Wealth Management LLC now owns 114 shares of the financial services provider’s stock valued at $39,000 after purchasing an additional 110 shares during the last quarter. Finally, Zurich Insurance Group Ltd FI purchased a new stake in Arthur J. Gallagher & Co. during the 1st quarter valued at $58,041,000. Institutional investors own 85.53% of the company’s stock.

Wall Street Analysts Forecast Growth

AJG has been the subject of several recent analyst reports. Piper Sandler lifted their price objective on shares of Arthur J. Gallagher & Co. from $352.00 to $372.00 and gave the stock an “overweight” rating in a research note on Friday, August 1st. Cantor Fitzgerald raised shares of Arthur J. Gallagher & Co. to a “strong-buy” rating in a research note on Wednesday, August 13th. Erste Group Bank reiterated a “hold” rating on shares of Arthur J. Gallagher & Co. in a report on Wednesday, July 23rd. Citigroup assumed coverage on shares of Arthur J. Gallagher & Co. in a research note on Wednesday, August 13th. They issued a “neutral” rating and a $317.00 price objective for the company. Finally, Barclays cut their target price on Arthur J. Gallagher & Co. from $346.00 to $327.00 and set an “equal weight” rating on the stock in a research note on Monday, July 7th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $330.93.

Arthur J. Gallagher & Co. Trading Up 0.3%

Shares of AJG opened at $304.09 on Friday. The firm has a market capitalization of $77.97 billion, a price-to-earnings ratio of 43.19 and a beta of 0.72. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.36 and a quick ratio of 1.36. Arthur J. Gallagher & Co. has a 1-year low of $275.56 and a 1-year high of $351.23. The company has a 50-day moving average of $297.92 and a 200 day moving average of $317.33.

Arthur J. Gallagher & Co. (NYSE:AJG) last issued its earnings results on Thursday, July 31st. The financial services provider reported $2.33 EPS for the quarter, missing analysts’ consensus estimates of $2.36 by ($0.03). Arthur J. Gallagher & Co. had a return on equity of 13.17% and a net margin of 14.54%.The company had revenue of $3.18 billion during the quarter, compared to the consensus estimate of $3.20 billion. During the same quarter in the prior year, the company earned $2.29 earnings per share. Arthur J. Gallagher & Co.’s revenue was up 16.0% on a year-over-year basis. On average, research analysts expect that Arthur J. Gallagher & Co. will post 11.54 EPS for the current year.

Arthur J. Gallagher & Co. Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 19th. Shareholders of record on Friday, September 5th were issued a $0.65 dividend. This represents a $2.60 annualized dividend and a dividend yield of 0.9%. The ex-dividend date was Friday, September 5th. Arthur J. Gallagher & Co.’s dividend payout ratio is currently 36.93%.

Insiders Place Their Bets

In other news, VP Scott R. Hudson sold 12,855 shares of the firm’s stock in a transaction on Monday, September 8th. The stock was sold at an average price of $297.60, for a total transaction of $3,825,648.00. Following the transaction, the vice president owned 85,920 shares in the company, valued at approximately $25,569,792. This trade represents a 13.01% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Douglas K. Howell sold 8,000 shares of Arthur J. Gallagher & Co. stock in a transaction dated Monday, September 22nd. The shares were sold at an average price of $299.54, for a total value of $2,396,320.00. Following the completion of the sale, the chief financial officer owned 100,777 shares of the company’s stock, valued at $30,186,742.58. The trade was a 7.35% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 29,855 shares of company stock worth $8,916,928 in the last three months. Corporate insiders own 1.60% of the company’s stock.

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.