Arthur J. Gallagher & Co. $AJG Holdings Raised by Arlington Trust Co LLC

Key Points

• Arlington Trust Co LLC increased its stake in Arthur J. Gallagher & Co. by 26.3% during the second quarter, owning 7,382 shares valued at approximately $2.36 million.
• Arthur J. Gallagher & Co. reported earnings per share of $2.33 for the last quarter, missing estimates by $0.03, despite achieving a 16% year-over-year revenue increase.
• The company recently declared a quarterly dividend of $0.65 per share, representing an annual yield of 0.9% and a payout ratio of 36.93%.

Arlington Trust Co LLC boosted its stake in Arthur J. Gallagher & Co. (NYSE:AJG - Free Report) by 26.3% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 7,382 shares of the financial services provider's stock after buying an additional 1,538 shares during the quarter. Arlington Trust Co LLC's holdings in Arthur J. Gallagher & Co. were worth $2,363,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in AJG. Vanguard Group Inc. raised its holdings in shares of Arthur J. Gallagher & Co. by 2.5% during the 1st quarter. Vanguard Group Inc. now owns 30,411,264 shares of the financial services provider's stock valued at $10,499,185,000 after purchasing an additional 739,130 shares in the last quarter. JPMorgan Chase & Co. grew its stake in Arthur J. Gallagher & Co. by 38.3% in the 1st quarter. JPMorgan Chase & Co. now owns 17,372,745 shares of the financial services provider's stock valued at $5,997,767,000 after buying an additional 4,815,007 shares during the last quarter. Wellington Management Group LLP grew its stake in Arthur J. Gallagher & Co. by 4.9% in the 1st quarter. Wellington Management Group LLP now owns 2,959,673 shares of the financial services provider's stock valued at $1,021,798,000 after buying an additional 137,354 shares during the last quarter. Northern Trust Corp grew its stake in Arthur J. Gallagher & Co. by 0.4% in the 1st quarter. Northern Trust Corp now owns 2,364,759 shares of the financial services provider's stock valued at $816,409,000 after buying an additional 9,458 shares during the last quarter. Finally, WCM Investment Management LLC grew its stake in Arthur J. Gallagher & Co. by 0.3% in the 1st quarter. WCM Investment Management LLC now owns 2,336,591 shares of the financial services provider's stock valued at $796,217,000 after buying an additional 7,594 shares during the last quarter. Hedge funds and other institutional investors own 85.53% of the company's stock.

Insider Activity

In other Arthur J. Gallagher & Co. news, CFO Douglas K. Howell sold 3,000 shares of the business's stock in a transaction dated Tuesday, September 9th. The shares were sold at an average price of $299.78, for a total value of $899,340.00. Following the completion of the transaction, the chief financial officer directly owned 114,777 shares of the company's stock, valued at approximately $34,407,849.06. The trade was a 2.55% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP Scott R. Hudson sold 12,855 shares of the business's stock in a transaction dated 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 completion of the transaction, the vice president directly owned 85,920 shares of the company's stock, valued at approximately $25,569,792. This represents a 13.01% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.60% of the company's stock.

Arthur J. Gallagher & Co. Trading Down 1.1%

Shares of AJG stock opened at $297.27 on Monday. Arthur J. Gallagher & Co. has a 12-month low of $274.25 and a 12-month high of $351.23. The company has a market capitalization of $76.22 billion, a P/E ratio of 42.23 and a beta of 0.72. The firm has a 50-day moving average price of $300.81 and a 200 day moving average price of $319.61. 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. (NYSE:AJG - Get Free Report) last announced its quarterly earnings results on Thursday, July 31st. The financial services provider reported $2.33 earnings per share (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 firm had revenue of $3.18 billion for the quarter, compared to the consensus estimate of $3.20 billion. During the same period in the prior year, the business earned $2.29 earnings per share. The company's revenue for the quarter was up 16.0% on a year-over-year basis. Research analysts forecast that Arthur J. Gallagher & Co. will post 11.54 earnings per share for the current fiscal year.

Arthur J. Gallagher & Co. Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, September 19th. Investors of record on Friday, September 5th will be 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 of this dividend is Friday, September 5th. Arthur J. Gallagher & Co.'s dividend payout ratio (DPR) is currently 36.93%.

Analyst Ratings Changes

A number of research firms recently issued reports on AJG. Erste Group Bank reiterated a "hold" rating on shares of Arthur J. Gallagher & Co. in a research note on Wednesday, July 23rd. Barclays lowered their target price 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 note on Monday, July 7th. Piper Sandler raised their price target on shares of Arthur J. Gallagher & Co. from $352.00 to $372.00 and gave the stock an "overweight" rating in a research report on Friday, August 1st. UBS Group decreased their price target on shares of Arthur J. Gallagher & Co. from $345.00 to $322.00 and set a "neutral" rating on the stock in a research report on Monday, August 4th. Finally, Cantor Fitzgerald upgraded 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, six have assigned a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, Arthur J. Gallagher & Co. has a consensus rating of "Hold" and a consensus price target of $333.13.

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.

Want to see what other hedge funds are holding AJG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Arthur J. Gallagher & Co. (NYSE:AJG - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.