Klingman & Associates LLC Acquires Shares of 891 Arthur J. Gallagher & Co. $AJG

Klingman & Associates LLC acquired a new stake in shares of Arthur J. Gallagher & Co. (NYSE:AJG) in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 891 shares of the financial services provider’s stock, valued at approximately $285,000.

A number of other hedge funds also recently bought and sold shares of the company. Checchi Capital Advisers LLC lifted its position in shares of Arthur J. Gallagher & Co. by 1.1% in the first quarter. Checchi Capital Advisers LLC now owns 2,899 shares of the financial services provider’s stock worth $1,001,000 after purchasing an additional 31 shares in the last quarter. Menard Financial Group LLC lifted its position in shares of Arthur J. Gallagher & Co. by 0.8% in the first quarter. Menard Financial Group LLC now owns 3,812 shares of the financial services provider’s stock worth $1,289,000 after purchasing an additional 32 shares in the last quarter. Allen Capital Group LLC lifted its position in shares of Arthur J. Gallagher & Co. by 2.1% in the first quarter. Allen Capital Group LLC now owns 1,603 shares of the financial services provider’s stock worth $553,000 after purchasing an additional 33 shares in the last quarter. SeaCrest Wealth Management LLC lifted its position in shares of Arthur J. Gallagher & Co. by 2.3% in the second quarter. SeaCrest Wealth Management LLC now owns 1,542 shares of the financial services provider’s stock worth $494,000 after purchasing an additional 34 shares in the last quarter. Finally, Ashton Thomas Private Wealth LLC lifted its position in shares of Arthur J. Gallagher & Co. by 1.3% in the first quarter. Ashton Thomas Private Wealth LLC now owns 2,746 shares of the financial services provider’s stock worth $948,000 after purchasing an additional 35 shares in the last quarter. 85.53% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on AJG. Wall Street Zen raised shares of Arthur J. Gallagher & Co. from a “sell” rating to a “hold” rating in a research report on Friday, September 5th. Erste Group Bank reissued a “hold” rating on shares of Arthur J. Gallagher & Co. in a research report on Wednesday, July 23rd. Wells Fargo & Company raised their price objective on shares of Arthur J. Gallagher & Co. from $365.00 to $366.00 and gave the company an “overweight” rating in a research report on Wednesday, October 8th. Barclays cut their price objective on shares of Arthur J. Gallagher & Co. from $346.00 to $327.00 and set an “equal weight” rating on the stock in a research report on Monday, July 7th. Finally, Cantor Fitzgerald raised shares of Arthur J. Gallagher & Co. to a “strong-buy” rating in a research report on Wednesday, August 13th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and eight have assigned a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $331.43.

Arthur J. Gallagher & Co. Trading Down 0.2%

Shares of AJG stock opened at $278.75 on Wednesday. Arthur J. Gallagher & Co. has a 12 month low of $275.56 and a 12 month high of $351.23. The company has a quick ratio of 1.36, a current ratio of 1.36 and a debt-to-equity ratio of 0.52. The business’s 50 day moving average is $299.11 and its two-hundred day moving average is $313.13. The company has a market cap of $71.47 billion, a PE ratio of 39.59 and a beta of 0.73.

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

Arthur J. Gallagher & Co. Announces Dividend

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

Insider Activity at Arthur J. Gallagher & Co.

In other Arthur J. Gallagher & Co. news, VP Scott R. Hudson sold 12,855 shares of the stock in a transaction that occurred 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 $25,569,792. This trade represents a 13.01% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Douglas K. Howell sold 8,000 shares of the stock in a transaction that occurred on 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 transaction, the chief financial officer owned 100,777 shares in the company, valued at approximately $30,186,742.58. This trade represents a 7.35% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 29,855 shares of company stock worth $8,916,928. Corporate insiders own 1.30% of the company’s stock.

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.