Oppenheimer Asset Management Inc. Has $13.89 Million Stock Holdings in Arthur J. Gallagher & Co. $AJG

Oppenheimer Asset Management Inc. trimmed its position in Arthur J. Gallagher & Co. (NYSE:AJG) by 8.8% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 43,389 shares of the financial services provider’s stock after selling 4,169 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Arthur J. Gallagher & Co. were worth $13,890,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. AlphaQuest LLC acquired a new position in Arthur J. Gallagher & Co. in the 1st quarter valued at $33,000. Saudi Central Bank acquired a new position in Arthur J. Gallagher & Co. in the 1st quarter valued at $34,000. J.Safra Asset Management Corp lifted its position in shares of Arthur J. Gallagher & Co. by 209.1% during the 2nd quarter. J.Safra Asset Management Corp now owns 102 shares of the financial services provider’s stock valued at $32,000 after acquiring an additional 69 shares during the period. Centennial Bank AR bought a new stake in shares of Arthur J. Gallagher & Co. during the 1st quarter valued at $38,000. Finally, Motco lifted its position in shares of Arthur J. Gallagher & Co. by 700.0% during the 1st quarter. Motco now owns 112 shares of the financial services provider’s stock valued at $39,000 after acquiring an additional 98 shares during the period. 85.53% of the stock is owned by institutional investors and hedge funds.

Arthur J. Gallagher & Co. Price Performance

Shares of AJG stock opened at $281.01 on Monday. The company has a quick ratio of 1.36, a current ratio of 1.36 and a debt-to-equity ratio of 0.52. Arthur J. Gallagher & Co. has a twelve month low of $275.56 and a twelve month high of $351.23. The company has a market cap of $72.05 billion, a P/E ratio of 39.92 and a beta of 0.73. The business has a fifty day simple moving average of $298.41 and a 200 day simple moving average of $312.45.

Arthur J. Gallagher & Co. (NYSE:AJG) last posted its 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). The firm had revenue of $3.18 billion during the quarter, compared to the consensus estimate of $3.20 billion. Arthur J. Gallagher & Co. had a net margin of 14.54% and a return on equity of 13.17%. Arthur J. Gallagher & Co.’s revenue for the quarter was up 16.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.29 earnings per share. On average, sell-side analysts forecast that Arthur J. Gallagher & Co. will post 11.54 EPS for the current fiscal year.

Arthur J. Gallagher & Co. Dividend Announcement

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

Wall Street Analyst Weigh In

AJG has been the subject of a number of recent analyst reports. Keefe, Bruyette & Woods upped their target price on Arthur J. Gallagher & Co. from $288.00 to $298.00 and gave the company a “market perform” rating in a research report on Friday, September 19th. Erste Group Bank reiterated a “hold” rating on shares of Arthur J. Gallagher & Co. in a research report on Wednesday, July 23rd. Piper Sandler cut their target price on Arthur J. Gallagher & Co. from $352.00 to $340.00 and set an “overweight” rating for the company in a research report on Thursday, October 2nd. The Goldman Sachs Group began coverage on Arthur J. Gallagher & Co. in a research report on Wednesday, September 3rd. They set a “buy” rating and a $344.00 target price for the company. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of Arthur J. Gallagher & Co. in a research report on Friday. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and eight have issued a Hold rating to the company’s stock. According to MarketBeat.com, Arthur J. Gallagher & Co. currently has a consensus rating of “Moderate Buy” and a consensus target price of $331.43.

Insider Activity

In other Arthur J. Gallagher & Co. news, CFO Douglas K. Howell sold 8,000 shares of the stock in a transaction dated Monday, September 22nd. The stock was sold at an average price of $299.54, for a total value of $2,396,320.00. Following the completion of the transaction, the chief financial officer directly owned 100,777 shares in the company, valued at approximately $30,186,742.58. This trade represents a 7.35% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Scott R. Hudson sold 12,855 shares of the stock in a transaction dated Monday, September 8th. The shares were sold at an average price of $297.60, for a total value of $3,825,648.00. Following the completion of the transaction, the vice president owned 85,920 shares of the company’s stock, valued at $25,569,792. This represents a 13.01% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 29,855 shares of company stock valued at $8,916,928 over the last quarter. Corporate insiders own 1.30% of the company’s stock.

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.