CWA Asset Management Group LLC Purchases 113,132 Shares of Arthur J. Gallagher & Co. $AJG

Key Points

• CWA Asset Management Group increased its Arthur J. Gallagher position by 7,834.6% in the third quarter, purchasing 113,132 shares and bringing its holdings to 114,576 shares valued at $26.1 million.
• Arthur J. Gallagher reported quarterly EPS of $2.84, slightly beating estimates, while revenue rose 24.3% year over year to $3.95 billion. The company also maintained a $0.70 quarterly dividend, yielding approximately 1.1%.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and an average price target of $280.74, despite several recent target-price reductions. Company insiders sold 28,500 shares worth $7.6 million over the past three months.

CWA Asset Management Group LLC raised its position in Arthur J. Gallagher & Co. (NYSE:AJG - Free Report) by 7,834.6% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 114,576 shares of the financial services provider's stock after purchasing an additional 113,132 shares during the quarter. Arthur J. Gallagher & Co. accounts for approximately 0.8% of CWA Asset Management Group LLC's portfolio, making the stock its 24th largest holding. CWA Asset Management Group LLC's holdings in Arthur J. Gallagher & Co. were worth $26,136,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of AJG. Axiom Investment Management LLC purchased a new stake in Arthur J. Gallagher & Co. during the first quarter worth approximately $28,000. Triumph Capital Management raised its stake in shares of Arthur J. Gallagher & Co. by 4,000.0% in the 3rd quarter. Triumph Capital Management now owns 123 shares of the financial services provider's stock valued at $28,000 after acquiring an additional 120 shares during the period. NFSG Corp lifted its holdings in shares of Arthur J. Gallagher & Co. by 4,033.3% during the 3rd quarter. NFSG Corp now owns 124 shares of the financial services provider's stock valued at $28,000 after acquiring an additional 121 shares in the last quarter. Cassaday & Co Wealth Management LLC acquired a new position in shares of Arthur J. Gallagher & Co. during the 1st quarter valued at $29,000. Finally, MV Capital Management Inc. purchased a new stake in Arthur J. Gallagher & Co. during the 4th quarter worth $34,000. 85.53% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, VP Scott R. Hudson sold 12,000 shares of the firm's stock in a transaction that occurred on Wednesday, September 2nd. The shares were sold at an average price of $264.13, for a total transaction of $3,169,560.00. Following the completion of the sale, the vice president owned 90,262 shares of the company's stock, valued at approximately $23,840,902.06. This trade represents a 11.73% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Richard C. Cary sold 1,000 shares of Arthur J. Gallagher & Co. stock in a transaction on Tuesday, September 15th. The stock was sold at an average price of $252.86, for a total transaction of $252,860.00. Following the completion of the sale, the chief accounting officer owned 46,819 shares of the company's stock, valued at approximately $11,838,652.34. This trade represents a 2.09% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 28,500 shares of company stock valued at $7,562,950 in the last three months. 1.40% of the stock is owned by insiders.

Arthur J. Gallagher & Co. Trading Down 0.6%

NYSE AJG opened at $253.33 on Tuesday. The stock has a market cap of $64.93 billion, a P/E ratio of 21.22, a PEG ratio of 1.46 and a beta of 0.55. The company's fifty day simple moving average is $246.43 and its 200-day simple moving average is $232.55. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.50. Arthur J. Gallagher & Co. has a 52 week low of $190.75 and a 52 week high of $284.33.

Arthur J. Gallagher & Co. (NYSE:AJG - Get Free Report) last released its quarterly earnings results on Thursday, July 30th. The financial services provider reported $2.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.81 by $0.03. Arthur J. Gallagher & Co. had a net margin of 9.96% and a return on equity of 13.28%. The firm had revenue of $3.95 billion for the quarter, compared to the consensus estimate of $4.01 billion. During the same quarter in the previous year, the firm posted $2.33 EPS. The firm's quarterly revenue was up 24.3% on a year-over-year basis. Equities research analysts predict that Arthur J. Gallagher & Co. will post 13.17 EPS for the current fiscal year.

Arthur J. Gallagher & Co. Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, September 18th. Stockholders of record on Tuesday, September 8th were paid a dividend of $0.70 per share. The ex-dividend date was Tuesday, September 8th. This represents a $2.80 annualized dividend and a dividend yield of 1.1%. Arthur J. Gallagher & Co.'s dividend payout ratio (DPR) is currently 46.43%.

Analyst Ratings Changes

Several analysts recently issued reports on the company. Wells Fargo & Company lowered their price target on Arthur J. Gallagher & Co. from $291.00 to $284.00 and set an "overweight" rating for the company in a report on Monday, October 12th. Cantor Fitzgerald reduced their price objective on Arthur J. Gallagher & Co. from $300.00 to $280.00 and set a "neutral" rating on the stock in a research note on Wednesday, October 7th. Oppenheimer initiated coverage on Arthur J. Gallagher & Co. in a research report on Wednesday, October 7th. They issued a "market perform" rating for the company. Jefferies Financial Group lowered their target price on Arthur J. Gallagher & Co. from $300.00 to $295.00 and set a "buy" rating for the company in a research note on Wednesday, September 30th. Finally, UBS Group increased their target price on Arthur J. Gallagher & Co. from $291.00 to $299.00 and gave the company a "buy" rating in a research note on Monday, August 3rd. Sixteen investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $280.74.

About Arthur J. Gallagher & Co.

Arthur J. Gallagher & Co is a global insurance brokerage, risk management and consulting company. The firm helps businesses, public entities and individuals identify, manage and transfer risk through insurance and related services.

Its operations include retail insurance brokerage, employee benefits consulting, wholesale brokerage, reinsurance brokerage, claims administration and risk management consulting. Gallagher places commercial and personal insurance coverage and provides services related to property and casualty risks, health care, benefits, and other specialized insurance needs.

Founded in 1927 by Arthur J.

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