Thomasville National Bank trimmed its position in shares of Arthur J. Gallagher & Co. (NYSE:AJG - Free Report) by 6.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 111,931 shares of the financial services provider's stock after selling 7,109 shares during the period. Arthur J. Gallagher & Co. accounts for approximately 2.8% of Thomasville National Bank's portfolio, making the stock its 9th largest holding. Thomasville National Bank's holdings in Arthur J. Gallagher & Co. were worth $38,643,000 at the end of the most recent reporting period.
Other large investors have also bought and sold shares of the company. Fort Washington Investment Advisors Inc. OH raised its position in shares of Arthur J. Gallagher & Co. by 4.3% in the first quarter. Fort Washington Investment Advisors Inc. OH now owns 129,896 shares of the financial services provider's stock worth $44,845,000 after buying an additional 5,386 shares in the last quarter. Kelly Financial Services LLC bought a new position in Arthur J. Gallagher & Co. in the 1st quarter worth about $220,000. Fifth Third Bancorp raised its holdings in shares of Arthur J. Gallagher & Co. by 2.1% in the 1st quarter. Fifth Third Bancorp now owns 27,671 shares of the financial services provider's stock valued at $9,553,000 after acquiring an additional 577 shares in the last quarter. Simon Quick Advisors LLC grew its holdings in shares of Arthur J. Gallagher & Co. by 99.1% during the first quarter. Simon Quick Advisors LLC now owns 1,603 shares of the financial services provider's stock worth $553,000 after purchasing an additional 798 shares in the last quarter. Finally, CX Institutional increased its position in shares of Arthur J. Gallagher & Co. by 9.5% in the first quarter. CX Institutional now owns 1,769 shares of the financial services provider's stock worth $611,000 after purchasing an additional 154 shares during 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, Director David S. Johnson sold 1,000 shares of the company's stock in a transaction dated Friday, May 16th. The shares were sold at an average price of $342.04, for a total value of $342,040.00. Following the completion of the sale, the director now directly owns 45,323 shares of the company's stock, valued at $15,502,278.92. This represents a 2.16% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 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 completion of the sale, the insider now owns 11,941 shares in the company, valued at $4,109,256.33. This represents a 53.06% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 32,510 shares of company stock worth $11,033,341. Company insiders own 1.30% of the company's stock.
Arthur J. Gallagher & Co. Price Performance
Shares of AJG traded down $3.77 during mid-day trading on Friday, hitting $316.38. 1,038,988 shares of the stock were exchanged, compared to its average volume of 1,341,506. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.51 and a current ratio of 1.51. The company has a market cap of $81.02 billion, a PE ratio of 48.52 and a beta of 0.74. Arthur J. Gallagher & Co. has a 52-week low of $251.42 and a 52-week high of $351.23. The firm has a 50-day moving average of $331.40 and a two-hundred day moving average of $317.18.
Arthur J. Gallagher & Co. (NYSE:AJG - Get Free Report) last posted 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 12.70% and a return on equity of 16.47%. The business had revenue of $3.69 billion for the quarter, compared to analysts' expectations of $3.85 billion. During the same quarter in the previous year, the business posted $3.45 earnings per share. The business's revenue was up 14.5% compared to the same quarter last year. On average, equities analysts predict that Arthur J. Gallagher & Co. will post 11.54 earnings per share for the current year.
Arthur J. Gallagher & Co. Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Friday, June 20th. Stockholders of record on Friday, June 6th will be paid a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a dividend yield of 0.82%. The ex-dividend date is Friday, June 6th. Arthur J. Gallagher & Co.'s dividend payout ratio is presently 37.63%.
Wall Street Analysts Forecast Growth
AJG has been the topic of a number of research analyst reports. Barclays increased their price target on shares of Arthur J. Gallagher & Co. from $308.00 to $346.00 and gave the stock an "equal weight" rating in a report on Friday, April 11th. Jefferies Financial Group lowered their price target on Arthur J. Gallagher & Co. from $266.00 to $265.00 and set a "hold" rating on the stock in a research report on Friday, April 11th. 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 report on Monday. Redburn Atlantic began coverage on Arthur J. Gallagher & Co. in a report on Tuesday, March 25th. They set a "neutral" rating and a $352.00 price objective on the stock. Finally, Keefe, Bruyette & Woods upped their target price on Arthur J. Gallagher & Co. from $315.00 to $326.00 and gave the stock a "market perform" rating in a research note on Thursday, June 5th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $319.29.
Read Our Latest Stock Analysis on AJG
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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