Allworth Financial LP Sells 6,084 Shares of Arthur J. Gallagher & Co. $AJG

Key Points

• Allworth Financial LP cut its stake in Arthur J. Gallagher & Co. by 55% in the fourth quarter, selling 6,084 shares and leaving it with 4,979 shares worth about $1.29 million.
• Arthur J. Gallagher reported solid quarterly results, with EPS of $4.47 beating estimates and revenue rising 29% year over year to $4.71 billion, though revenue came in slightly below expectations.
• The company declared a quarterly dividend of $0.70 per share, payable June 19, for an annualized yield of about 1.4%.

Allworth Financial LP decreased its stake in Arthur J. Gallagher & Co. (NYSE:AJG - Free Report) by 55.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,979 shares of the financial services provider's stock after selling 6,084 shares during the period. Allworth Financial LP's holdings in Arthur J. Gallagher & Co. were worth $1,288,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Physician Wealth Advisors Inc. raised its stake in shares of Arthur J. Gallagher & Co. by 870.0% in the third quarter. Physician Wealth Advisors Inc. now owns 97 shares of the financial services provider's stock valued at $30,000 after purchasing an additional 87 shares in the last quarter. Rakuten Securities Inc. lifted its holdings in shares of Arthur J. Gallagher & Co. by 650.0% during the 2nd quarter. Rakuten Securities Inc. now owns 105 shares of the financial services provider's stock worth $34,000 after acquiring an additional 91 shares during the period. Financial Life Planners acquired a new stake in shares of Arthur J. Gallagher & Co. during the 3rd quarter valued at about $39,000. Westside Investment Management Inc. increased its stake in Arthur J. Gallagher & Co. by 100.0% in the third quarter. Westside Investment Management Inc. now owns 136 shares of the financial services provider's stock valued at $42,000 after acquiring an additional 68 shares during the period. Finally, Thurston Springer Miller Herd & Titak Inc. raised its position in Arthur J. Gallagher & Co. by 668.2% in the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 169 shares of the financial services provider's stock worth $44,000 after purchasing an additional 147 shares in the last quarter. 85.53% of the stock is currently owned by institutional investors and hedge funds.

Arthur J. Gallagher & Co. Stock Performance

Arthur J. Gallagher & Co. stock opened at $207.30 on Tuesday. The stock has a 50-day simple moving average of $212.61 and a 200 day simple moving average of $233.80. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.51. Arthur J. Gallagher & Co. has a 12-month low of $190.75 and a 12-month high of $351.23. The stock has a market capitalization of $53.26 billion, a price-to-earnings ratio of 33.54, a P/E/G ratio of 1.02 and a beta of 0.54.

Arthur J. Gallagher & Co. (NYSE:AJG - Get Free Report) last posted its quarterly earnings data on Thursday, April 30th. The financial services provider reported $4.47 earnings per share for the quarter, beating the consensus estimate of $4.43 by $0.04. Arthur J. Gallagher & Co. had a net margin of 10.76% and a return on equity of 12.83%. The firm had revenue of $4.71 billion during the quarter, compared to analysts' expectations of $4.73 billion. During the same quarter last year, the company posted $3.67 EPS. The company's quarterly revenue was up 29.0% compared to the same quarter last year. On average, research analysts anticipate that Arthur J. Gallagher & Co. will post 13.22 earnings per share for the current fiscal year.

Arthur J. Gallagher & Co. Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 19th. Investors of record on Friday, June 5th will be issued a $0.70 dividend. The ex-dividend date is Friday, June 5th. This represents a $2.80 annualized dividend and a yield of 1.4%. Arthur J. Gallagher & Co.'s dividend payout ratio (DPR) is currently 45.31%.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. UBS Group lowered their price objective on Arthur J. Gallagher & Co. from $285.00 to $283.00 and set a "neutral" rating on the stock in a research note on Monday, February 2nd. Wells Fargo & Company decreased their price target on Arthur J. Gallagher & Co. from $273.00 to $266.00 and set an "overweight" rating on the stock in a research note on Thursday, April 9th. Wall Street Zen upgraded Arthur J. Gallagher & Co. from a "sell" rating to a "hold" rating in a research report on Saturday, February 21st. Keefe, Bruyette & Woods cut their price objective on Arthur J. Gallagher & Co. from $246.00 to $235.00 and set a "market perform" rating for the company in a report on Friday, May 1st. Finally, Citigroup upgraded shares of Arthur J. Gallagher & Co. from a "neutral" rating to a "buy" rating and reduced their target price for the company from $280.00 to $250.00 in a research note on Wednesday, May 6th. Eleven equities research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $268.00.

Insider Transactions at Arthur J. Gallagher & Co.

In other Arthur J. Gallagher & Co. news, VP Christopher E. Mead sold 4,000 shares of the business's stock in a transaction dated Thursday, March 5th. The stock was sold at an average price of $227.12, for a total transaction of $908,480.00. Following the completion of the sale, the vice president directly owned 19,306 shares of the company's stock, valued at approximately $4,384,778.72. The trade was a 17.16% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP Scott R. Hudson sold 3,800 shares of the firm's stock in a transaction dated Friday, March 6th. The shares were sold at an average price of $227.57, for a total transaction of $864,766.00. Following the completion of the transaction, the vice president directly owned 85,920 shares in the company, valued at $19,552,814.40. This trade represents a 4.24% decrease in their position. The disclosure for this sale is available in the SEC filing. 1.40% of the stock is owned by company insiders.

Arthur J. Gallagher & Co. Company Profile

Arthur J. Gallagher & Co is a global insurance brokerage and risk management firm headquartered in Rolling Meadows, Illinois. Founded in 1927 by Arthur J. Gallagher, the company has grown from a regional broker into an international professional services organization that arranges insurance, provides consulting and designs risk-transfer solutions for commercial, industrial, public sector and individual clients.

The company's core activities include property and casualty insurance brokerage, employee benefits consulting and administration, and a range of risk management services.

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