CenterBook Partners LP Sells 3,645 Shares of Arthur J. Gallagher & Co. (NYSE:AJG)

CenterBook Partners LP decreased its position in shares of Arthur J. Gallagher & Co. (NYSE:AJG - Free Report) by 74.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,259 shares of the financial services provider's stock after selling 3,645 shares during the quarter. CenterBook Partners LP's holdings in Arthur J. Gallagher & Co. were worth $435,000 as of its most recent filing with the SEC.

Several other institutional investors have also bought and sold shares of AJG. HWG Holdings LP acquired a new position in shares of Arthur J. Gallagher & Co. in the 1st quarter valued at about $25,000. MRP Capital Investments LLC acquired a new position in shares of Arthur J. Gallagher & Co. in the 4th quarter valued at about $28,000. New Age Alpha Advisors LLC increased its holdings in shares of Arthur J. Gallagher & Co. by 81.7% in the 4th quarter. New Age Alpha Advisors LLC now owns 109 shares of the financial services provider's stock valued at $31,000 after purchasing an additional 49 shares during the period. Centennial Bank AR bought a new stake in shares of Arthur J. Gallagher & Co. in the 1st quarter valued at approximately $38,000. Finally, Motco increased its holdings 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 buying an additional 98 shares during the last quarter. Institutional investors and hedge funds own 85.53% of the company's stock.

Arthur J. Gallagher & Co. Stock Performance

AJG traded down $0.86 during trading on Friday, hitting $313.05. The stock had a trading volume of 691,271 shares, compared to its average volume of 1,398,751. The company has a 50 day moving average price of $325.18 and a 200-day moving average price of $321.63. The firm has a market cap of $80.17 billion, a price-to-earnings ratio of 45.30 and a beta of 0.71. Arthur J. Gallagher & Co. has a one year low of $267.00 and a one year high of $351.23. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.44 and a quick ratio of 1.44.

Arthur J. Gallagher & Co. (NYSE:AJG - Get Free Report) last released its earnings results 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 14.83% and a net margin of 14.39%. The firm had revenue of $3.69 billion during the quarter, compared to the consensus estimate of $3.85 billion. During the same period in the prior year, the company posted $3.45 EPS. The company's revenue was up 14.5% compared to the same quarter last year. As a group, research analysts predict that Arthur J. Gallagher & Co. will post 11.54 EPS for the current year.

Arthur J. Gallagher & Co. Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, June 20th. Stockholders of record on Friday, June 6th were paid a $0.65 dividend. The ex-dividend date was Friday, June 6th. This represents a $2.60 annualized dividend and a dividend yield of 0.83%. Arthur J. Gallagher & Co.'s payout ratio is 37.63%.

Insider Activity at Arthur J. Gallagher & Co.

In other Arthur J. Gallagher & Co. news, VP Scott R. Hudson sold 10,500 shares of the firm's stock in a transaction that occurred on Wednesday, May 21st. The stock was sold at an average price of $337.17, for a total value of $3,540,285.00. Following the completion of the sale, the vice president owned 91,175 shares of the company's stock, valued at approximately $30,741,474.75. This trade represents a 10.33% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Susan E. Pietrucha sold 13,500 shares of the firm's stock in a transaction that occurred on 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 owned 11,941 shares in the company, valued at $4,109,256.33. This represents a 53.06% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 25,000 shares of company stock worth $8,528,080 in the last 90 days. Corporate insiders own 1.60% of the company's stock.

Wall Street Analyst Weigh In

AJG has been the subject of a number of recent analyst reports. Redburn Atlantic initiated coverage on Arthur J. Gallagher & Co. in a research report on Tuesday, March 25th. They set a "neutral" rating and a $352.00 target price for the company. Barclays reduced their price objective on 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. Keefe, Bruyette & Woods increased their price objective on Arthur J. Gallagher & Co. from $326.00 to $330.00 and gave the company a "market perform" rating in a research report on Wednesday, July 9th. Wells Fargo & Company reduced their price objective on Arthur J. Gallagher & Co. from $372.00 to $371.00 and set an "overweight" rating for the company in a research report on Monday, June 9th. Finally, 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 research report on Friday, April 11th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have given a buy rating to the stock. According to MarketBeat, the company has an average rating of "Hold" and a consensus target price of $318.21.

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.