Concentric Capital Strategies LP Purchases Shares of 1,682 Arthur J. Gallagher & Co. $AJG

Key Points

• Concentric Capital Strategies LP has acquired a new stake in Arthur J. Gallagher & Co. (NYSE: AJG) with 1,682 shares valued at approximately $581,000.
• Arthur J. Gallagher & Co. recently announced a quarterly dividend of $0.65 per share, scheduled for payment on September 19, representing an annualized dividend yield of 0.9%.
• Analysts have mixed ratings for the stock, with a consensus price target of $333.13 and several firms issuing buy ratings while others adjusted their target prices downward.

Concentric Capital Strategies LP acquired a new stake in Arthur J. Gallagher & Co. (NYSE:AJG - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 1,682 shares of the financial services provider's stock, valued at approximately $581,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in AJG. Ameriprise Financial Inc. grew its position in shares of Arthur J. Gallagher & Co. by 114.7% during the 4th quarter. Ameriprise Financial Inc. now owns 204,024 shares of the financial services provider's stock worth $57,908,000 after buying an additional 109,012 shares in the last quarter. Cetera Investment Advisers boosted its position in Arthur J. Gallagher & Co. by 5.7% during the fourth quarter. Cetera Investment Advisers now owns 66,111 shares of the financial services provider's stock valued at $18,766,000 after purchasing an additional 3,584 shares in the last quarter. CoreCap Advisors LLC boosted its position in Arthur J. Gallagher & Co. by 21.1% during the fourth quarter. CoreCap Advisors LLC now owns 483 shares of the financial services provider's stock valued at $137,000 after purchasing an additional 84 shares in the last quarter. Deutsche Bank AG raised its stake in shares of Arthur J. Gallagher & Co. by 26.2% in the fourth quarter. Deutsche Bank AG now owns 490,751 shares of the financial services provider's stock worth $139,300,000 after purchasing an additional 101,860 shares during the last quarter. Finally, D. E. Shaw & Co. Inc. grew its holdings in Arthur J. Gallagher & Co. by 1,511.2% during the fourth quarter. D. E. Shaw & Co. Inc. now owns 1,758,166 shares of the financial services provider's stock worth $499,055,000 after acquiring an additional 1,649,046 shares during the period. Institutional investors own 85.53% of the company's stock.

Arthur J. Gallagher & Co. Stock Performance

NYSE:AJG traded down $3.89 during mid-day trading on Wednesday, reaching $294.62. 367,115 shares of the stock were exchanged, compared to its average volume of 1,525,764. The company has a 50 day simple moving average of $301.96 and a 200-day simple moving average of $320.38. The stock has a market capitalization of $75.54 billion, a P/E ratio of 41.89 and a beta of 0.72. The company has a quick ratio of 1.36, a current ratio of 1.36 and a debt-to-equity ratio of 0.52. Arthur J. Gallagher & Co. has a 1 year low of $274.25 and a 1 year high of $351.23.

Arthur J. Gallagher & Co. (NYSE:AJG - Get Free Report) last released 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). The firm had revenue of $3.18 billion for the quarter, compared to analysts' expectations of $3.20 billion. Arthur J. Gallagher & Co. had a return on equity of 13.17% and a net margin of 14.54%.The company's quarterly revenue was up 16.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.29 EPS. Analysts anticipate that Arthur J. Gallagher & Co. will post 11.54 earnings per share for the current fiscal year.

Arthur J. Gallagher & Co. Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 19th. Shareholders of record on Friday, September 5th will be given a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date of this dividend is Friday, September 5th. Arthur J. Gallagher & Co.'s dividend payout ratio (DPR) is presently 36.93%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on AJG. Keefe, Bruyette & Woods lifted their price target on Arthur J. Gallagher & Co. from $326.00 to $330.00 and gave the stock a "market perform" rating in a research note on Wednesday, July 9th. Wall Street Zen raised Arthur J. Gallagher & Co. from a "sell" rating to a "hold" rating in a research note on Friday, September 5th. Cantor Fitzgerald upgraded Arthur J. Gallagher & Co. to a "strong-buy" rating in a research report on Wednesday, August 13th. Barclays decreased their price target on Arthur J. Gallagher & Co. from $346.00 to $327.00 and set an "equal weight" rating on the stock in a research note on Monday, July 7th. Finally, Wells Fargo & Company upped their price target on Arthur J. Gallagher & Co. from $371.00 to $373.00 and gave the company an "overweight" rating in a research note on Friday, August 1st. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Arthur J. Gallagher & Co. has an average rating of "Hold" and an average price target of $333.13.

Insider Activity at Arthur J. Gallagher & Co.

In related news, VP Scott R. Hudson sold 12,855 shares of Arthur J. Gallagher & Co. stock in a transaction on Monday, September 8th. The stock was sold at an average price of $297.60, for a total transaction of $3,825,648.00. Following the completion of the transaction, the vice president directly owned 85,920 shares of the company's stock, valued at approximately $25,569,792. The trade was a 13.01% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. 1.30% of the stock is owned by corporate insiders.

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.