Arthur J. Gallagher & Co. (NYSE:AJG) is Kornitzer Capital Management Inc. KS's 6th Largest Position

Kornitzer Capital Management Inc. KS cut its position in shares of Arthur J. Gallagher & Co. (NYSE:AJG - Free Report) by 6.7% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 263,227 shares of the financial services provider's stock after selling 18,891 shares during the period. Arthur J. Gallagher & Co. accounts for 1.9% of Kornitzer Capital Management Inc. KS's holdings, making the stock its 6th biggest position. Kornitzer Capital Management Inc. KS owned about 0.10% of Arthur J. Gallagher & Co. worth $90,876,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. HWG Holdings LP purchased a new stake in shares of Arthur J. Gallagher & Co. in the first quarter valued at approximately $25,000. MRP Capital Investments LLC purchased a new stake in Arthur J. Gallagher & Co. during the 4th quarter worth approximately $28,000. New Age Alpha Advisors LLC increased its stake in Arthur J. Gallagher & Co. by 81.7% during the 4th quarter. New Age Alpha Advisors LLC now owns 109 shares of the financial services provider's stock worth $31,000 after buying an additional 49 shares in the last quarter. Johnson Financial Group Inc. increased its stake in Arthur J. Gallagher & Co. by 205.4% during the 4th quarter. Johnson Financial Group Inc. now owns 113 shares of the financial services provider's stock worth $34,000 after buying an additional 76 shares in the last quarter. Finally, Parvin Asset Management LLC purchased a new stake in Arthur J. Gallagher & Co. during the 4th quarter worth approximately $35,000. 85.53% of the stock is owned by hedge funds and other institutional investors.

Arthur J. Gallagher & Co. Stock Performance

NYSE AJG opened at $315.17 on Tuesday. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 0.56. Arthur J. Gallagher & Co. has a 52-week low of $267.00 and a 52-week high of $351.23. The business's 50-day moving average price is $327.39 and its 200 day moving average price is $321.13. The firm has a market cap of $80.72 billion, a P/E ratio of 45.61 and a beta of 0.71.

Arthur J. Gallagher & Co. (NYSE:AJG - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The financial services provider reported $3.67 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.57 by $0.10. Arthur J. Gallagher & Co. had a return on equity of 14.83% and a net margin of 14.39%. The firm had revenue of $3.69 billion for the quarter, compared to analyst estimates of $3.85 billion. During the same quarter last year, the company posted $3.45 earnings per share. The business's revenue was up 14.5% on a year-over-year basis. On average, equities research analysts expect that Arthur J. Gallagher & Co. will post 11.54 earnings per share for the current year.

Arthur J. Gallagher & Co. Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 20th. Investors of record on Friday, June 6th were given a $0.65 dividend. The ex-dividend date was Friday, June 6th. This represents a $2.60 dividend on an annualized basis and a yield of 0.82%. Arthur J. Gallagher & Co.'s payout ratio is currently 37.63%.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the company. Barclays cut their price objective on Arthur J. Gallagher & Co. from $346.00 to $327.00 and set an "equal weight" rating for the company in a research note on Monday, July 7th. Wells Fargo & Company cut their price objective on Arthur J. Gallagher & Co. from $372.00 to $371.00 and set an "overweight" rating for the company in a research note on Monday, June 9th. Redburn Atlantic began coverage on Arthur J. Gallagher & Co. in a research report on Tuesday, March 25th. They issued a "neutral" rating and a $352.00 price target for the company. Keefe, Bruyette & Woods upped their price target on Arthur J. Gallagher & Co. from $326.00 to $330.00 and gave the company a "market perform" rating in a research report on Wednesday, July 9th. Finally, Jefferies Financial Group dropped their price target on Arthur J. Gallagher & Co. from $266.00 to $265.00 and set a "hold" rating for the company in a research report on Friday, April 11th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, Arthur J. Gallagher & Co. presently has a consensus rating of "Hold" and a consensus target price of $318.21.

Insider Activity at Arthur J. Gallagher & Co.

In related news, insider Susan E. Pietrucha sold 13,500 shares of the firm's stock in a transaction dated Monday, May 19th. The shares were sold at an average price of $344.13, for a total value of $4,645,755.00. Following the completion of the sale, the insider owned 11,941 shares in the company, valued at $4,109,256.33. This trade represents a 53.06% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Scott R. Hudson sold 10,500 shares of the firm's stock in a transaction dated Wednesday, May 21st. The shares were sold at an average price of $337.17, for a total transaction of $3,540,285.00. Following the completion of the sale, the vice president owned 91,175 shares of the company's stock, valued at approximately $30,741,474.75. The trade was a 10.33% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 25,000 shares of company stock worth $8,528,080 over the last 90 days. Company insiders own 1.60% of the company's stock.

Arthur J. Gallagher & Co. Profile

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.

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