Arthur J. Gallagher & Co. $AJG Shares Sold by Fifth Third Bancorp

Key Points

• Fifth Third Bancorp reduced its stake in Arthur J. Gallagher & Co. by 7.2%, now holding 25,678 shares valued at approximately $8.22 million.
• The company's earnings per share for the last quarter was reported at $2.33, missing estimates by $0.03, with revenue reaching $3.18 billion.
• Arthur J. Gallagher & Co. has recently declared a quarterly dividend of $0.65, representing an annual yield of 0.9%.

Fifth Third Bancorp trimmed its holdings in shares of Arthur J. Gallagher & Co. (NYSE:AJG - Free Report) by 7.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 25,678 shares of the financial services provider's stock after selling 1,993 shares during the quarter. Fifth Third Bancorp's holdings in Arthur J. Gallagher & Co. were worth $8,220,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in AJG. Two Sigma Investments LP purchased a new position in Arthur J. Gallagher & Co. during the fourth quarter valued at $382,000. Wealth Enhancement Advisory Services LLC increased its stake in shares of Arthur J. Gallagher & Co. by 23.0% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 68,124 shares of the financial services provider's stock worth $19,337,000 after purchasing an additional 12,730 shares in the last quarter. MassMutual Private Wealth & Trust FSB lifted its stake in Arthur J. Gallagher & Co. by 37.5% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 1,367 shares of the financial services provider's stock valued at $472,000 after buying an additional 373 shares in the last quarter. Bath Savings Trust Co boosted its holdings in Arthur J. Gallagher & Co. by 14.6% in the 1st quarter. Bath Savings Trust Co now owns 23,961 shares of the financial services provider's stock worth $8,272,000 after buying an additional 3,045 shares during the last quarter. Finally, Parallel Advisors LLC increased its stake in Arthur J. Gallagher & Co. by 14.6% during the 1st quarter. Parallel Advisors LLC now owns 4,247 shares of the financial services provider's stock worth $1,466,000 after buying an additional 542 shares in the last quarter. Institutional investors and hedge funds own 85.53% of the company's stock.

Arthur J. Gallagher & Co. Stock Performance

Arthur J. Gallagher & Co. stock opened at $303.44 on Friday. The stock has a market cap of $77.80 billion, a price-to-earnings ratio of 43.10 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. The firm has a 50 day simple moving average of $298.10 and a 200-day simple moving average of $317.54. Arthur J. Gallagher & Co. has a 1-year low of $275.56 and a 1-year high of $351.23.

Arthur J. Gallagher & Co. (NYSE:AJG - Get Free Report) last issued its quarterly earnings data on Thursday, July 31st. The financial services provider reported $2.33 earnings per share for the quarter, missing the consensus estimate 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 business had revenue of $3.18 billion during the quarter, compared to analysts' expectations of $3.20 billion. During the same quarter in the previous year, the company posted $2.29 earnings per share. The company's revenue was up 16.0% on a year-over-year basis. On average, analysts expect that Arthur J. Gallagher & Co. will post 11.54 EPS for the current year.

Arthur J. Gallagher & Co. Announces Dividend

The business 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 of this dividend was Friday, September 5th. This represents a $2.60 dividend on an annualized basis and a yield of 0.9%. Arthur J. Gallagher & Co.'s dividend payout ratio is presently 36.93%.

Analyst Upgrades and Downgrades

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

Insider Activity

In related news, VP Scott R. Hudson sold 12,855 shares of the stock in a transaction that occurred on Monday, September 8th. The shares were 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 owned 85,920 shares of the company's stock, valued at approximately $25,569,792. This trade represents a 13.01% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Douglas K. Howell sold 8,000 shares of the company's stock in a transaction on 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 transaction, the chief financial officer owned 100,777 shares in the company, valued at $30,186,742.58. This trade represents a 7.35% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 29,855 shares of company stock valued at $8,916,928. 1.60% of the stock is currently owned by insiders.

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.

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.