HB Wealth Management LLC Boosts Holdings in Arthur J. Gallagher & Co. (NYSE:AJG)

Key Points

• HB Wealth Management LLC increased its stake in Arthur J. Gallagher & Co. by 47.3%, owning nearly 10,000 shares valued at approximately $3.45 million, according to their recent SEC filing.
• Insider selling included VP Scott R. Hudson, who sold 10,500 shares for over $3.54 million, reducing his ownership by 10.33%, while Director David S. Johnson also sold shares, contributing to a total insider sale of 25,000 shares worth $8.53 million in the last 90 days.
• Arthur J. Gallagher & Co. reported earnings per share (EPS) of $3.67 for the last quarter, surpassing estimates by $0.10, despite quarterly revenue falling short of expectations at $3.69 billion.

HB Wealth Management LLC increased its stake in shares of Arthur J. Gallagher & Co. (NYSE:AJG - Free Report) by 47.3% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,997 shares of the financial services provider's stock after purchasing an additional 3,211 shares during the quarter. HB Wealth Management LLC's holdings in Arthur J. Gallagher & Co. were worth $3,451,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in AJG. Winslow Capital Management LLC acquired a new position in Arthur J. Gallagher & Co. during the 4th quarter worth approximately $719,489,000. Capital World Investors grew its holdings in Arthur J. Gallagher & Co. by 30.4% during the 4th quarter. Capital World Investors now owns 8,199,413 shares of the financial services provider's stock worth $2,327,403,000 after acquiring an additional 1,910,471 shares during the last quarter. Wellington Management Group LLP grew its holdings in Arthur J. Gallagher & Co. by 162.0% during the 4th quarter. Wellington Management Group LLP now owns 2,822,319 shares of the financial services provider's stock worth $801,115,000 after acquiring an additional 1,745,283 shares during the last quarter. D. E. Shaw & Co. Inc. grew its holdings in Arthur J. Gallagher & Co. by 1,511.2% during the 4th quarter. D. E. Shaw & Co. Inc. now owns 1,758,166 shares of the financial services provider's stock worth $499,055,000 after acquiring an additional 1,649,046 shares during the last quarter. Finally, Balyasny Asset Management L.P. grew its holdings in Arthur J. Gallagher & Co. by 53,148.8% during the 4th quarter. Balyasny Asset Management L.P. now owns 1,319,505 shares of the financial services provider's stock worth $374,541,000 after acquiring an additional 1,317,027 shares during the last quarter. 85.53% of the stock is currently owned by institutional investors and hedge funds.

Arthur J. Gallagher & Co. Stock Up 1.5%

NYSE AJG traded up $4.39 on Thursday, hitting $290.23. 1,004,976 shares of the company were exchanged, compared to its average volume of 1,526,225. The company has a market cap of $74.33 billion, a PE ratio of 42.01 and a beta of 0.71. Arthur J. Gallagher & Co. has a 12 month low of $274.25 and a 12 month high of $351.23. The stock has a fifty day moving average of $320.04 and a 200-day moving average of $322.65. The company has a current ratio of 1.44, a quick ratio of 1.44 and a debt-to-equity ratio of 0.56.

Arthur J. Gallagher & Co. (NYSE:AJG - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The financial services provider reported $3.67 earnings per share for the quarter, beating analysts' consensus estimates 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 period last year, the firm earned $3.45 earnings per share. The business's quarterly revenue was up 14.5% compared to the same quarter last year. As a group, analysts forecast that Arthur J. Gallagher & Co. will post 11.54 earnings per share for the current year.

Arthur J. Gallagher & Co. Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 19th. Shareholders of record on Friday, September 5th will be paid a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a dividend yield of 0.90%. Arthur J. Gallagher & Co.'s dividend payout ratio (DPR) is 37.63%.

Insider Buying and Selling at Arthur J. Gallagher & Co.

In related news, Director David S. Johnson sold 1,000 shares of the firm's stock in a transaction dated Friday, May 16th. The shares were sold at an average price of $342.04, for a total transaction of $342,040.00. Following the transaction, the director directly owned 45,323 shares of the company's stock, valued at $15,502,278.92. This trade represents a 2.16% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, 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 transaction of $4,645,755.00. Following the transaction, the insider directly owned 11,941 shares in the company, valued at $4,109,256.33. The trade was a 53.06% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 25,000 shares of company stock valued at $8,528,080. Corporate insiders own 1.60% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on AJG shares. Keefe, Bruyette & Woods boosted their target price on shares of Arthur J. Gallagher & Co. from $326.00 to $330.00 and gave the stock a "market perform" rating in a report on Wednesday, July 9th. Barclays reduced 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. Wells Fargo & Company reduced their price objective on shares of Arthur J. Gallagher & Co. from $372.00 to $371.00 and set an "overweight" rating on the stock in a research note on Monday, June 9th. Erste Group Bank reaffirmed a "hold" rating on shares of Arthur J. Gallagher & Co. in a research note on Wednesday, July 23rd. Finally, Jefferies Financial Group reduced their price objective on shares of Arthur J. Gallagher & Co. from $266.00 to $265.00 and set a "hold" rating on the stock in a research note on Friday, April 11th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Hold" and an average 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.