Ballew Advisors Inc Sells 2,991 Shares of Arthur J. Gallagher & Co. (NYSE:AJG)

Ballew Advisors Inc trimmed its position in shares of Arthur J. Gallagher & Co. (NYSE:AJG - Free Report) by 14.4% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 17,791 shares of the financial services provider's stock after selling 2,991 shares during the period. Arthur J. Gallagher & Co. comprises about 3.9% of Ballew Advisors Inc's portfolio, making the stock its 5th biggest position. Ballew Advisors Inc's holdings in Arthur J. Gallagher & Co. were worth $5,943,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in AJG. Fort Washington Investment Advisors Inc. OH boosted its holdings 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 valued at $44,845,000 after acquiring an additional 5,386 shares during the period. Kelly Financial Services LLC acquired a new stake in Arthur J. Gallagher & Co. in the first quarter valued at $220,000. Fifth Third Bancorp lifted its holdings in Arthur J. Gallagher & Co. by 2.1% in the first 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 during the period. Simon Quick Advisors LLC lifted its holdings in Arthur J. Gallagher & Co. by 99.1% in the first quarter. Simon Quick Advisors LLC now owns 1,603 shares of the financial services provider's stock valued at $553,000 after acquiring an additional 798 shares during the period. Finally, CX Institutional lifted its holdings in 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 valued at $611,000 after acquiring an additional 154 shares during the period. 85.53% of the stock is currently owned by hedge funds and other institutional investors.

Arthur J. Gallagher & Co. Stock Up 2.3%

Arthur J. Gallagher & Co. stock traded up $7.23 during mid-day trading on Thursday, hitting $320.17. The company's stock had a trading volume of 1,416,548 shares, compared to its average volume of 1,342,320. Arthur J. Gallagher & Co. has a 52-week low of $251.42 and a 52-week high of $351.23. The firm's 50 day moving average is $331.21 and its 200 day moving average is $317.09. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.51 and a quick ratio of 1.51. The company has a market cap of $82.00 billion, a PE ratio of 49.11 and a beta of 0.74.

Arthur J. Gallagher & Co. (NYSE:AJG - Get Free Report) last issued 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 return on equity of 16.47% and a net margin of 12.70%. The business had revenue of $3.69 billion for the quarter, compared to the consensus estimate of $3.85 billion. During the same period last year, the business earned $3.45 EPS. The firm's revenue was up 14.5% compared to the same quarter last year. On average, analysts anticipate that Arthur J. Gallagher & Co. will post 11.54 earnings per share for the current year.

Arthur J. Gallagher & Co. Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 20th. Stockholders of record on Friday, June 6th will be issued a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a dividend yield of 0.81%. The ex-dividend date is Friday, June 6th. Arthur J. Gallagher & Co.'s payout ratio is presently 37.63%.

Insider Transactions at Arthur J. Gallagher & Co.

In other news, VP Scott R. Hudson sold 7,510 shares of the company's stock in a transaction on Friday, March 21st. The stock was sold at an average price of $333.59, for a total transaction of $2,505,260.90. Following the transaction, the vice president now owns 90,020 shares of the company's stock, valued at $30,029,771.80. This represents a 7.70% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director David S. Johnson sold 1,000 shares of the company's stock in a transaction on Friday, May 16th. The shares were sold at an average price of $342.04, for a total value of $342,040.00. Following the transaction, the director now directly owns 45,323 shares in the company, valued at $15,502,278.92. This trade represents a 2.16% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 32,510 shares of company stock valued at $11,033,341. 1.30% of the stock is owned by corporate insiders.

Analyst Ratings Changes

AJG has been the subject of a number of recent analyst reports. Jefferies Financial Group reduced their target price 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. Redburn Atlantic initiated coverage on Arthur J. Gallagher & Co. in a research note on Tuesday, March 25th. They set a "neutral" rating and a $352.00 price target for the company. Keefe, Bruyette & Woods lifted their price target 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. Wells Fargo & Company cut their price target on Arthur J. Gallagher & Co. from $372.00 to $371.00 and set an "overweight" rating for the company in a research note on Monday. Finally, Barclays boosted their target price on shares of Arthur J. Gallagher & Co. from $308.00 to $346.00 and gave the company an "equal weight" rating in a research note on Friday, April 11th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $319.29.

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.