Fenimore Asset Management Inc Cuts Holdings in Arthur J. Gallagher & Co. (NYSE:AJG)

Fenimore Asset Management Inc reduced its position in Arthur J. Gallagher & Co. (NYSE:AJG - Free Report) by 9.2% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 366,904 shares of the financial services provider's stock after selling 37,098 shares during the period. Arthur J. Gallagher & Co. comprises 2.7% of Fenimore Asset Management Inc's investment portfolio, making the stock its 15th biggest position. Fenimore Asset Management Inc owned approximately 0.14% of Arthur J. Gallagher & Co. worth $126,670,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the stock. First Citizens Bank & Trust Co. boosted its holdings in shares of Arthur J. Gallagher & Co. by 5.5% during the first quarter. First Citizens Bank & Trust Co. now owns 29,447 shares of the financial services provider's stock worth $10,166,000 after purchasing an additional 1,527 shares during the last quarter. Wedmont Private Capital lifted its stake in shares of Arthur J. Gallagher & Co. by 4.2% in the first quarter. Wedmont Private Capital now owns 3,576 shares of the financial services provider's stock worth $1,195,000 after acquiring an additional 144 shares in the last quarter. UMB Bank n.a. grew its position in shares of Arthur J. Gallagher & Co. by 1.3% in the 1st quarter. UMB Bank n.a. now owns 9,249 shares of the financial services provider's stock worth $3,193,000 after acquiring an additional 119 shares in the last quarter. Sivia Capital Partners LLC raised its holdings in shares of Arthur J. Gallagher & Co. by 3.6% during the first quarter. Sivia Capital Partners LLC now owns 1,059 shares of the financial services provider's stock worth $366,000 after purchasing an additional 37 shares during the period. Finally, Gateway Investment Advisers LLC grew its position in shares of Arthur J. Gallagher & Co. by 0.3% during the 1st quarter. Gateway Investment Advisers LLC now owns 187,472 shares of the financial services provider's stock valued at $64,723,000 after buying an additional 475 shares during the last quarter. Hedge funds and other institutional investors own 85.53% of the company's stock.

Arthur J. Gallagher & Co. Trading Up 0.2%

Shares of NYSE:AJG opened at $328.90 on Monday. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.51 and a current ratio of 1.51. The stock's 50-day moving average is $332.45 and its 200-day moving average is $317.04. Arthur J. Gallagher & Co. has a 52-week low of $251.42 and a 52-week high of $351.23. The company has a market cap of $84.23 billion, a P/E ratio of 50.44 and a beta of 0.74.

Arthur J. Gallagher & Co. (NYSE:AJG - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The financial services provider reported $3.67 EPS for the quarter, topping analysts' consensus estimates of $3.57 by $0.10. The firm had revenue of $3.69 billion during the quarter, compared to analysts' expectations of $3.85 billion. Arthur J. Gallagher & Co. had a net margin of 12.70% and a return on equity of 16.47%. The company's revenue for the quarter was up 14.5% compared to the same quarter last year. During the same quarter last year, the company earned $3.45 earnings per share. Equities research analysts predict that Arthur J. Gallagher & Co. will post 11.54 earnings per share for the current year.

Arthur J. Gallagher & Co. Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 20th. Shareholders of record on Friday, June 6th will be paid a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a yield of 0.79%. The ex-dividend date is Friday, June 6th. Arthur J. Gallagher & Co.'s dividend payout ratio is 37.63%.

Insider Activity

In other Arthur J. Gallagher & Co. news, VP Scott R. Hudson sold 7,510 shares of Arthur J. Gallagher & Co. stock in a transaction on Friday, March 21st. The shares were sold at an average price of $333.59, for a total transaction of $2,505,260.90. Following the completion of the sale, the vice president now owns 90,020 shares of the company's stock, valued at approximately $30,029,771.80. The trade was a 7.70% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Susan E. Pietrucha sold 13,500 shares of Arthur J. Gallagher & Co. stock in a transaction on Monday, May 19th. The stock was sold at an average price of $344.13, for a total transaction of $4,645,755.00. Following the sale, the insider now directly owns 11,941 shares of the company's stock, valued at $4,109,256.33. This represents a 53.06% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 32,510 shares of company stock worth $11,033,341. Insiders own 1.60% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on AJG shares. Jefferies Financial Group decreased their price objective 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 began coverage on Arthur J. Gallagher & Co. in a research report on Tuesday, March 25th. They set a "neutral" rating and a $352.00 price objective for the company. Wells Fargo & Company increased their target price on Arthur J. Gallagher & Co. from $370.00 to $372.00 and gave the company an "overweight" rating in a report on Thursday, April 10th. Keefe, Bruyette & Woods increased their price objective on Arthur J. Gallagher & Co. from $315.00 to $326.00 and gave the stock a "market perform" rating in a report on Thursday. Finally, Barclays increased their price objective on Arthur J. Gallagher & Co. from $308.00 to $346.00 and gave the stock an "equal weight" rating in a report on Friday, April 11th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and five have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $319.36.

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.

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