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Arthur J. Gallagher & Co. $AJG Shares Sold by North Point Portfolio Managers Corp OH

Arthur J. Gallagher & Co. logo with Finance background

Key Points

  • North Point Portfolio Managers Corp OH has reduced its stake in Arthur J. Gallagher & Co. by 1.7%, holding 67,876 shares valued at approximately $21.73 million.
  • Research analysts have varied ratings for the company, with a majority indicating a Moderate Buy stance and an average price target of $331.43.
  • Arthur J. Gallagher & Co. recently declared a quarterly dividend of $0.65 per share, resulting in an annualized dividend yield of 0.9% and a payout ratio of 36.93%.
  • MarketBeat previews top five stocks to own in November.

North Point Portfolio Managers Corp OH trimmed its holdings in shares of Arthur J. Gallagher & Co. (NYSE:AJG - Free Report) by 1.7% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 67,876 shares of the financial services provider's stock after selling 1,145 shares during the period. Arthur J. Gallagher & Co. comprises 3.7% of North Point Portfolio Managers Corp OH's holdings, making the stock its 5th largest position. North Point Portfolio Managers Corp OH's holdings in Arthur J. Gallagher & Co. were worth $21,729,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. HWG Holdings LP bought a new stake in shares of Arthur J. Gallagher & Co. in the 1st quarter valued at about $25,000. J.Safra Asset Management Corp raised its holdings in Arthur J. Gallagher & Co. by 209.1% in 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. AlphaQuest LLC bought a new position in Arthur J. Gallagher & Co. in the 1st quarter valued at about $33,000. Saudi Central Bank bought a new position in Arthur J. Gallagher & Co. in the 1st quarter valued at about $34,000. Finally, Centennial Bank AR bought a new position in Arthur J. Gallagher & Co. in the 1st quarter valued at about $38,000. 85.53% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research analysts have weighed in on the stock. Keefe, Bruyette & Woods increased their price target on shares of Arthur J. Gallagher & Co. from $288.00 to $298.00 and gave the company a "market perform" rating in a report on Friday, September 19th. Erste Group Bank reissued a "hold" rating on shares of Arthur J. Gallagher & Co. in a report 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 report on Monday, July 7th. UBS Group raised their target price on shares of Arthur J. Gallagher & Co. from $322.00 to $329.00 and gave the stock a "neutral" rating in a report on Friday, September 19th. Finally, Cantor Fitzgerald raised shares of Arthur J. Gallagher & Co. to a "strong-buy" rating in a report on Wednesday, August 13th. One investment 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 company. Based on data from MarketBeat.com, Arthur J. Gallagher & Co. has an average rating of "Moderate Buy" and an average target price of $331.43.

Get Our Latest Stock Analysis on Arthur J. Gallagher & Co.

Arthur J. Gallagher & Co. Stock Performance

Shares of NYSE:AJG opened at $280.70 on Monday. Arthur J. Gallagher & Co. has a 1 year low of $275.56 and a 1 year high of $351.23. 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 stock has a market capitalization of $71.97 billion, a price-to-earnings ratio of 39.87 and a beta of 0.73. The company's 50 day simple moving average is $299.55 and its 200 day simple moving average is $313.64.

Arthur J. Gallagher & Co. (NYSE:AJG - Get Free Report) last issued its earnings results on Thursday, July 31st. The financial services provider reported $2.33 earnings per share for the quarter, missing analysts' consensus estimates 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 during the quarter, compared to analyst estimates of $3.20 billion. During the same quarter in the prior year, the business earned $2.29 EPS. The business's quarterly revenue was up 16.0% on a year-over-year basis. As a group, research analysts predict that Arthur J. Gallagher & Co. will post 11.54 EPS for the current fiscal year.

Arthur J. Gallagher & Co. Announces Dividend

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

Insiders Place Their Bets

In other news, CFO Douglas K. Howell sold 8,000 shares of Arthur J. Gallagher & Co. stock in a transaction on Monday, September 22nd. The shares were sold at an average price of $299.54, for a total transaction 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. The trade was a 7.35% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Scott R. Hudson sold 12,855 shares of Arthur J. Gallagher & Co. stock in a transaction 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 approximately $25,569,792. This trade represents a 13.01% 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. 1.30% of the stock is owned by company insiders.

About Arthur J. Gallagher & Co.

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for Arthur J. Gallagher & Co. (NYSE:AJG)

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