Mountain Pacific Investment Advisers LLC trimmed its holdings in shares of Arthur J. Gallagher & Co. (NYSE:AJG - Free Report) by 4.7% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 181,271 shares of the financial services provider's stock after selling 8,902 shares during the quarter. Arthur J. Gallagher & Co. comprises about 4.7% of Mountain Pacific Investment Advisers LLC's holdings, making the stock its 4th largest position. Mountain Pacific Investment Advisers LLC owned 0.07% of Arthur J. Gallagher & Co. worth $62,582,000 at the end of the most recent quarter.
A number of other institutional investors have also added to or reduced their stakes in AJG. Allspring Global Investments Holdings LLC lifted its stake in Arthur J. Gallagher & Co. by 9.6% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 11,198 shares of the financial services provider's stock worth $3,089,000 after purchasing an additional 982 shares during the last quarter. Vontobel Holding Ltd. raised its holdings in shares of Arthur J. Gallagher & Co. by 2.6% during the 4th quarter. Vontobel Holding Ltd. now owns 25,501 shares of the financial services provider's stock valued at $7,238,000 after buying an additional 638 shares in the last quarter. V Square Quantitative Management LLC lifted its position in Arthur J. Gallagher & Co. by 4.5% in the 4th quarter. V Square Quantitative Management LLC now owns 2,266 shares of the financial services provider's stock worth $643,000 after buying an additional 97 shares during the last quarter. Blue Trust Inc. boosted its stake in Arthur J. Gallagher & Co. by 86.0% in the fourth quarter. Blue Trust Inc. now owns 3,803 shares of the financial services provider's stock worth $1,079,000 after buying an additional 1,758 shares in the last quarter. Finally, Legacy Capital Wealth Partners LLC grew its position in Arthur J. Gallagher & Co. by 2.3% during the fourth quarter. Legacy Capital Wealth Partners LLC now owns 1,911 shares of the financial services provider's stock valued at $542,000 after acquiring an additional 43 shares during the last quarter. 85.53% of the stock is currently owned by institutional investors.
Insiders Place Their Bets
In related news, insider Susan E. Pietrucha sold 13,500 shares of the company's stock in a transaction on Monday, May 19th. The stock was sold at an average price of $344.13, for a total value of $4,645,755.00. Following the sale, the insider now directly owns 11,941 shares of the company's stock, valued at $4,109,256.33. This 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 stock in a transaction on Wednesday, May 21st. The stock was sold at an average price of $337.17, for a total value of $3,540,285.00. Following the completion of the transaction, the vice president now owns 91,175 shares of the company's stock, valued at approximately $30,741,474.75. This trade represents a 10.33% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 32,510 shares of company stock worth $11,033,341. Company insiders own 1.60% of the company's stock.
Wall Street Analysts Forecast Growth
AJG has been the subject of a number of research reports. Keefe, Bruyette & Woods upped their price objective on shares of Arthur J. Gallagher & Co. from $315.00 to $326.00 and gave the company a "market perform" rating in a research note on Thursday, June 5th. Barclays upped their price target on shares of Arthur J. Gallagher & Co. from $308.00 to $346.00 and gave the company an "equal weight" rating in a research report on Friday, April 11th. Jefferies Financial Group decreased their price objective on Arthur J. Gallagher & Co. from $266.00 to $265.00 and set a "hold" rating on the stock in a report on Friday, April 11th. Wells Fargo & Company dropped their target price on Arthur J. Gallagher & Co. from $372.00 to $371.00 and set an "overweight" rating for the company in a report on Monday, June 9th. Finally, Redburn Atlantic initiated coverage on Arthur J. Gallagher & Co. in a research note on Tuesday, March 25th. They issued a "neutral" rating and a $352.00 price target on the stock. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $319.29.
Check Out Our Latest Research Report on AJG
Arthur J. Gallagher & Co. Price Performance
Shares of Arthur J. Gallagher & Co. stock opened at $316.38 on Monday. The business has a 50 day moving average of $331.51 and a 200 day moving average of $317.24. Arthur J. Gallagher & Co. has a 52 week low of $251.42 and a 52 week high of $351.23. The company has a market cap of $81.02 billion, a PE ratio of 48.52 and a beta of 0.74. The company has a quick ratio of 1.51, a current ratio of 1.51 and a debt-to-equity ratio of 0.63.
Arthur J. Gallagher & Co. (NYSE:AJG - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The financial services provider reported $3.67 EPS for the quarter, topping the consensus estimate of $3.57 by $0.10. The business had revenue of $3.69 billion during the quarter, compared to analyst estimates of $3.85 billion. Arthur J. Gallagher & Co. had a net margin of 12.70% and a return on equity of 16.47%. The company's revenue for the quarter was up 14.5% on a year-over-year basis. During the same period in the prior year, the business earned $3.45 EPS. As a group, equities research analysts forecast 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 will be paid on Friday, June 20th. Shareholders of record on Friday, June 6th will be given a dividend of $0.65 per share. The ex-dividend date is Friday, June 6th. This represents a $2.60 annualized dividend and a yield of 0.82%. Arthur J. Gallagher & Co.'s payout ratio is 37.63%.
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.
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