Westwood Holdings Group Inc. Sells 44,628 Shares of Arthur J. Gallagher & Co. (NYSE:AJG)

Key Points

• Westwood Holdings Group Inc. has reduced its holdings in Arthur J. Gallagher & Co. by 15.8%, selling 44,628 shares and owning 238,055 shares worth approximately $82.2 million.
• Analysts have set new price targets for the stock, with UBS Group lowering its target from $345 to $322, while Piper Sandler raised their target from $352 to $372, reflecting mixed sentiments among analysts.
• Arthur J. Gallagher & Co. announced a quarterly dividend of $0.65 per share, representing an annualized dividend yield of 0.9%, which will be paid on September 19th to shareholders on record as of September 5th.

Westwood Holdings Group Inc. decreased its holdings in shares of Arthur J. Gallagher & Co. (NYSE:AJG - Free Report) by 15.8% in the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 238,055 shares of the financial services provider's stock after selling 44,628 shares during the period. Westwood Holdings Group Inc. owned approximately 0.09% of Arthur J. Gallagher & Co. worth $82,186,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. HWG Holdings LP acquired a new position in Arthur J. Gallagher & Co. in the 1st quarter worth $25,000. Johnson Financial Group Inc. raised its holdings in shares of Arthur J. Gallagher & Co. by 205.4% in the 4th quarter. Johnson Financial Group Inc. now owns 113 shares of the financial services provider's stock valued at $34,000 after purchasing an additional 76 shares during the period. Parvin Asset Management LLC acquired a new stake in Arthur J. Gallagher & Co. during the fourth quarter worth approximately $35,000. Centennial Bank AR acquired a new stake in Arthur J. Gallagher & Co. during the first quarter worth approximately $38,000. Finally, Golden State Wealth Management LLC lifted its position in Arthur J. Gallagher & Co. by 2,750.0% during the first quarter. Golden State Wealth Management LLC now owns 114 shares of the financial services provider's stock worth $39,000 after acquiring an additional 110 shares during the last quarter. Institutional investors own 85.53% of the company's stock.

Arthur J. Gallagher & Co. Trading Up 0.2%

AJG traded up $0.69 during trading on Wednesday, hitting $286.47. 1,136,165 shares of the stock traded hands, compared to its average volume of 1,513,198. The firm has a market capitalization of $73.45 billion, a P/E ratio of 40.69 and a beta of 0.68. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.36 and a quick ratio of 1.44. The firm has a 50-day moving average of $315.79 and a 200 day moving average of $322.72. 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 issued its quarterly earnings data on Thursday, July 31st. The financial services provider reported $2.33 EPS for the quarter, missing the consensus estimate of $2.36 by ($0.03). Arthur J. Gallagher & Co. had a return on equity of 13.17% and a net margin of 14.54%. The company had revenue of $3.18 billion during the quarter, compared to the consensus estimate of $3.20 billion. During the same quarter last year, the company posted $2.29 earnings per share. The firm's revenue for the quarter was up 16.0% compared to the same quarter last year. Equities research analysts anticipate that Arthur J. Gallagher & Co. will post 11.54 EPS for the current year.

Arthur J. Gallagher & Co. Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 19th. Shareholders of record on Friday, September 5th will be issued a $0.65 dividend. The ex-dividend date is Friday, September 5th. This represents a $2.60 annualized dividend and a yield of 0.9%. Arthur J. Gallagher & Co.'s dividend payout ratio is 36.93%.

Analysts Set New Price Targets

Several research analysts have recently commented on AJG shares. Piper Sandler raised their target price on shares of Arthur J. Gallagher & Co. from $352.00 to $372.00 and gave the stock an "overweight" rating in a report on Friday, August 1st. Keefe, Bruyette & Woods lifted 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 research note on Wednesday, July 9th. UBS Group decreased their price target on shares of Arthur J. Gallagher & Co. from $345.00 to $322.00 and set a "neutral" rating for the company in a research note on Monday. Barclays cut their price target 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. Finally, Jefferies Financial Group dropped their target price 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 research 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. Based on data from MarketBeat, Arthur J. Gallagher & Co. presently has an average rating of "Hold" and an average price target of $329.15.

Insiders Place Their Bets

In related news, insider Susan E. Pietrucha sold 13,500 shares of the 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 transaction, the insider directly owned 11,941 shares in the company, valued at $4,109,256.33. This trade represents a 53.06% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Scott R. Hudson sold 10,500 shares of the stock in a transaction dated Wednesday, May 21st. The stock was sold at an average price of $337.17, for a total transaction 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. The trade was a 10.33% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 25,000 shares of company stock worth $8,528,080. 1.60% of the stock is currently owned by corporate insiders.

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.