Ascent Group LLC Sells 1,409 Shares of Arthur J. Gallagher & Co. $AJG

Key Points

• Ascent Group LLC reduced its stake in Arthur J. Gallagher & Co. by 22.8%, selling 1,409 shares and holding 4,770 shares valued at $1.53 million as of its recent SEC filing.
• Insider trading was notable, with VP Scott R. Hudson selling 12,855 shares for approximately $3.83 million and CFO Douglas K. Howell selling 8,000 shares for about $2.40 million.
• Arthur J. Gallagher & Co. declared a quarterly dividend of $0.65, representing an annualized yield of 0.8%, alongside reporting a 16% increase in quarterly revenue year-over-year.

Ascent Group LLC lowered its stake in shares of Arthur J. Gallagher & Co. (NYSE:AJG - Free Report) by 22.8% during the 2nd quarter, according to its most recent filing with the SEC. The firm owned 4,770 shares of the financial services provider's stock after selling 1,409 shares during the period. Ascent Group LLC's holdings in Arthur J. Gallagher & Co. were worth $1,527,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the stock. HWG Holdings LP bought a new stake in Arthur J. Gallagher & Co. in the 1st quarter worth approximately $25,000. AlphaQuest LLC bought a new stake in shares of Arthur J. Gallagher & Co. in the first quarter worth $33,000. Saudi Central Bank purchased a new stake in Arthur J. Gallagher & Co. during the first quarter valued at $34,000. Centennial Bank AR bought a new position in Arthur J. Gallagher & Co. in the first quarter valued at about $38,000. Finally, Motco boosted its position in Arthur J. Gallagher & Co. by 700.0% in the first quarter. Motco now owns 112 shares of the financial services provider's stock worth $39,000 after purchasing an additional 98 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 other Arthur J. Gallagher & Co. news, VP Scott R. Hudson sold 12,855 shares of the stock in a transaction that occurred on Monday, September 8th. The shares were sold at an average price of $297.60, for a total transaction of $3,825,648.00. Following the completion of the sale, the vice president directly owned 85,920 shares of the company's stock, valued at $25,569,792. This trade represents a 13.01% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Douglas K. Howell sold 8,000 shares of the business's stock in a transaction on Monday, September 22nd. The stock was sold at an average price of $299.54, for a total transaction of $2,396,320.00. Following the completion of the transaction, the chief financial officer directly owned 100,777 shares in the company, valued at $30,186,742.58. This trade represents a 7.35% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 29,855 shares of company stock valued at $8,916,928 over the last 90 days. 1.60% of the stock is currently owned by corporate insiders.

Arthur J. Gallagher & Co. Stock Up 0.7%

AJG opened at $310.95 on Monday. The stock has a market cap of $79.73 billion, a price-to-earnings ratio of 44.17 and a beta of 0.73. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.36 and a current ratio of 1.36. The firm's fifty day moving average is $297.60 and its 200 day moving average is $316.55. Arthur J. Gallagher & Co. has a fifty-two week low of $275.56 and a fifty-two week high of $351.23.

Arthur J. Gallagher & Co. (NYSE:AJG - Get Free Report) last issued its quarterly earnings results on Thursday, July 31st. The financial services provider reported $2.33 earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 business had revenue of $3.18 billion during the quarter, compared to analysts' expectations of $3.20 billion. During the same quarter in the previous year, the company posted $2.29 EPS. The company's quarterly revenue was up 16.0% on a year-over-year basis. On average, sell-side analysts forecast that Arthur J. Gallagher & Co. will post 11.54 earnings per share for the current fiscal year.

Arthur J. Gallagher & Co. Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 19th. Investors of record on Friday, September 5th were issued a $0.65 dividend. The ex-dividend date of this dividend was Friday, September 5th. This represents a $2.60 dividend on an annualized basis and a yield of 0.8%. Arthur J. Gallagher & Co.'s payout ratio is currently 36.93%.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. UBS Group increased their price objective on shares of Arthur J. Gallagher & Co. from $322.00 to $329.00 and gave the stock a "neutral" rating in a research note on Friday, September 19th. Wall Street Zen upgraded shares of Arthur J. Gallagher & Co. from a "sell" rating to a "hold" rating in a research report on Friday, September 5th. Barclays cut their price objective on shares of Arthur J. Gallagher & Co. from $346.00 to $327.00 and set an "equal weight" rating for the company in a research report on Monday, July 7th. The Goldman Sachs Group began coverage on Arthur J. Gallagher & Co. in a report on Wednesday, September 3rd. They issued a "buy" rating and a $344.00 target price on the stock. Finally, Keefe, Bruyette & Woods boosted their price target on Arthur J. Gallagher & Co. from $288.00 to $298.00 and gave the company a "market perform" rating in a report on Friday, September 19th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $328.80.

About Arthur J. Gallagher & Co.

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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