Arthur J. Gallagher & Co. (NYSE:AJG) Shares Bought by Picton Mahoney Asset Management

Key Points

• Picton Mahoney Asset Management increased its holdings in Arthur J. Gallagher & Co. by 6.4% during the 1st quarter, owning 43,103 shares valued at approximately $14.88 million.
• Insider sales have occurred recently, with insider Susan E. Pietrucha selling 13,500 shares and VP Scott R. Hudson selling 10,500 shares of the company's stock.
• Arthur J. Gallagher & Co. reported an EPS of $3.67 for the last quarter, exceeding the consensus estimate of $3.57, despite revenue falling short of projections at $3.69 billion.

Picton Mahoney Asset Management grew its holdings in Arthur J. Gallagher & Co. (NYSE:AJG - Free Report) by 6.4% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 43,103 shares of the financial services provider's stock after purchasing an additional 2,578 shares during the quarter. Picton Mahoney Asset Management's holdings in Arthur J. Gallagher & Co. were worth $14,884,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the business. New Age Alpha Advisors LLC increased its position in Arthur J. Gallagher & Co. by 81.7% during the fourth 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. Pictet Asset Management Holding SA boosted its stake in shares of Arthur J. Gallagher & Co. by 2.5% during the fourth quarter. Pictet Asset Management Holding SA now owns 108,589 shares of the financial services provider's stock valued at $30,823,000 after acquiring an additional 2,681 shares during the last quarter. Orion Portfolio Solutions LLC boosted its stake in shares of Arthur J. Gallagher & Co. by 0.8% during the fourth quarter. Orion Portfolio Solutions LLC now owns 12,344 shares of the financial services provider's stock valued at $3,504,000 after acquiring an additional 94 shares during the last quarter. Arrowstreet Capital Limited Partnership acquired a new position in Arthur J. Gallagher & Co. in the 4th quarter valued at about $6,173,000. Finally, Schroder Investment Management Group lifted its holdings in Arthur J. Gallagher & Co. by 48.1% in the 4th quarter. Schroder Investment Management Group now owns 160,500 shares of the financial services provider's stock valued at $45,656,000 after purchasing an additional 52,091 shares in the last quarter. 85.53% of the stock is owned by hedge funds and other institutional investors.

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 stock was sold at an average price of $344.13, for a total transaction of $4,645,755.00. Following the sale, the insider directly owned 11,941 shares in the company, valued at approximately $4,109,256.33. This trade represents a 53.06% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP Scott R. Hudson sold 10,500 shares of the company's stock in a transaction that occurred 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 owned 91,175 shares of the company's stock, valued at approximately $30,741,474.75. This represents a 10.33% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 25,000 shares of company stock worth $8,528,080. Corporate insiders own 1.30% of the company's stock.

Arthur J. Gallagher & Co. Stock Performance

Shares of NYSE:AJG opened at $309.12 on Tuesday. The business has a 50-day moving average of $322.13 and a two-hundred day moving average of $323.16. The firm has a market capitalization of $79.17 billion, a PE ratio of 44.74 and a beta of 0.71. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.44 and a quick ratio of 1.44. Arthur J. Gallagher & Co. has a 12 month low of $274.25 and a 12 month high of $351.23.

Arthur J. Gallagher & Co. (NYSE:AJG - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The financial services provider reported $3.67 EPS for the quarter, beating the consensus estimate of $3.57 by $0.10. Arthur J. Gallagher & Co. had a net margin of 14.39% and a return on equity of 14.83%. 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 firm posted $3.45 earnings per share. Arthur J. Gallagher & Co.'s revenue for the quarter was up 14.5% compared to the same quarter last year. As a group, 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 firm also recently declared a quarterly dividend, which was paid on Friday, June 20th. Investors of record on Friday, June 6th were given a dividend of $0.65 per share. The ex-dividend date was Friday, June 6th. This represents a $2.60 dividend on an annualized basis and a yield of 0.84%. Arthur J. Gallagher & Co.'s dividend payout ratio (DPR) is 37.63%.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on AJG. Wells Fargo & Company lowered their price target on shares of 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. Jefferies Financial Group cut their price target on Arthur J. Gallagher & Co. from $266.00 to $265.00 and set a "hold" rating for the company in a report on Friday, April 11th. Barclays reduced their price target on 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. Keefe, Bruyette & Woods upped their target price on Arthur J. Gallagher & Co. from $326.00 to $330.00 and gave the company a "market perform" rating in a research note on Wednesday, July 9th. Finally, Erste Group Bank reiterated a "hold" rating on shares of Arthur J. Gallagher & Co. in a research report on Wednesday, July 23rd. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and five have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $322.31.

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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