Clearstead Advisors LLC Has $4.30 Million Stock Position in Arthur J. Gallagher & Co. $AJG

Key Points

• Clearstead Advisors LLC increased its stake in Arthur J. Gallagher & Co. by 43.1% in the fourth quarter, ending with 16,613 shares valued at about $4.3 million.
• Several other institutional investors also boosted their AJG holdings, and institutions and hedge funds now own 85.53% of the stock, underscoring strong institutional interest.
• Arthur J. Gallagher reported Q1 earnings of $4.47 per share, topping estimates, while revenue grew 29% year over year; the company also announced a $0.70 quarterly dividend payable June 19.

Clearstead Advisors LLC increased its stake in Arthur J. Gallagher & Co. (NYSE:AJG - Free Report) by 43.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 16,613 shares of the financial services provider's stock after acquiring an additional 5,003 shares during the quarter. Clearstead Advisors LLC's holdings in Arthur J. Gallagher & Co. were worth $4,299,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in AJG. JPMorgan Chase & Co. lifted its stake in shares of Arthur J. Gallagher & Co. by 19.6% in the third quarter. JPMorgan Chase & Co. now owns 20,338,533 shares of the financial services provider's stock worth $6,299,674,000 after acquiring an additional 3,330,205 shares during the period. Northwestern Mutual Wealth Management Co. lifted its stake in shares of Arthur J. Gallagher & Co. by 9,244.9% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 1,053,636 shares of the financial services provider's stock worth $272,670,000 after acquiring an additional 1,042,361 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in shares of Arthur J. Gallagher & Co. by 30.5% in the third quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 3,107,390 shares of the financial services provider's stock worth $962,483,000 after acquiring an additional 725,555 shares during the period. Principal Financial Group Inc. lifted its stake in shares of Arthur J. Gallagher & Co. by 26.1% in the third quarter. Principal Financial Group Inc. now owns 2,866,786 shares of the financial services provider's stock worth $887,976,000 after acquiring an additional 593,483 shares during the period. Finally, Wellington Management Group LLP lifted its stake in shares of Arthur J. Gallagher & Co. by 13.7% in the third quarter. Wellington Management Group LLP now owns 3,270,807 shares of the financial services provider's stock worth $1,013,100,000 after acquiring an additional 395,304 shares during the period. 85.53% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Arthur J. Gallagher & Co. news, VP Christopher E. Mead sold 4,000 shares of the company's stock in a transaction on Thursday, March 5th. The stock was sold at an average price of $227.12, for a total value of $908,480.00. Following the completion of the transaction, the vice president owned 19,306 shares in the company, valued at $4,384,778.72. This represents a 17.16% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Scott R. Hudson sold 3,800 shares of the company's stock in a transaction on Friday, March 6th. The shares were sold at an average price of $227.57, for a total value of $864,766.00. Following the completion of the transaction, the vice president owned 85,920 shares of the company's stock, valued at $19,552,814.40. This trade represents a 4.24% decrease in their position. The SEC filing for this sale provides additional information. 1.40% of the stock is owned by corporate insiders.

Arthur J. Gallagher & Co. Stock Up 0.1%

Shares of NYSE:AJG opened at $204.89 on Tuesday. The company has a market capitalization of $52.64 billion, a PE ratio of 33.15, a price-to-earnings-growth ratio of 1.04 and a beta of 0.54. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.06 and a quick ratio of 1.06. The business has a fifty day moving average price of $211.66 and a two-hundred day moving average price of $232.09. Arthur J. Gallagher & Co. has a 1 year low of $190.75 and a 1 year high of $351.23.

Arthur J. Gallagher & Co. (NYSE:AJG - Get Free Report) last announced its quarterly earnings data on Thursday, April 30th. The financial services provider reported $4.47 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $4.43 by $0.04. The firm had revenue of $4.71 billion during the quarter, compared to the consensus estimate of $4.73 billion. Arthur J. Gallagher & Co. had a return on equity of 12.83% and a net margin of 10.76%.The business's revenue for the quarter was up 29.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.67 EPS. Analysts forecast that Arthur J. Gallagher & Co. will post 13.22 earnings per share for the current year.

Arthur J. Gallagher & Co. Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 19th. Shareholders of record on Friday, June 5th will be paid a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date is Friday, June 5th. Arthur J. Gallagher & Co.'s dividend payout ratio is 45.31%.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the company. Wells Fargo & Company dropped their price target on Arthur J. Gallagher & Co. from $273.00 to $266.00 and set an "overweight" rating on the stock in a research note on Thursday, April 9th. Jefferies Financial Group dropped their price target on Arthur J. Gallagher & Co. from $283.00 to $280.00 and set a "hold" rating on the stock in a research note on Monday, February 2nd. Wall Street Zen raised Arthur J. Gallagher & Co. from a "sell" rating to a "hold" rating in a research note on Saturday, February 21st. Barclays boosted their price target on Arthur J. Gallagher & Co. from $262.00 to $275.00 and gave the company an "overweight" rating in a research note on Wednesday, April 8th. Finally, Royal Bank Of Canada assumed coverage on Arthur J. Gallagher & Co. in a research note on Tuesday, March 17th. They issued an "outperform" rating and a $260.00 price target on the stock. Eleven equities research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $264.00.

Arthur J. Gallagher & Co. Profile

Arthur J. Gallagher & Co is a global insurance brokerage and risk management firm headquartered in Rolling Meadows, Illinois. Founded in 1927 by Arthur J. Gallagher, the company has grown from a regional broker into an international professional services organization that arranges insurance, provides consulting and designs risk-transfer solutions for commercial, industrial, public sector and individual clients.

The company's core activities include property and casualty insurance brokerage, employee benefits consulting and administration, and a range of risk management services.

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