Gulf International Bank UK Ltd Sells 4,130 Shares of Arthur J. Gallagher & Co. (NYSE:AJG)

Key Points

• Gulf International Bank UK Ltd has reduced its stake in Arthur J. Gallagher & Co. by 22.1%, now owning 14,532 shares worth approximately $5.02 million.
• Several institutional investors have shifted positions in Arthur J. Gallagher & Co., with institutional ownership now at 85.53%.
• The company has announced a $0.65 quarterly dividend to be paid on September 19th, representing an annualized yield of 0.9%.

Gulf International Bank UK Ltd cut its position in Arthur J. Gallagher & Co. (NYSE:AJG - Free Report) by 22.1% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 14,532 shares of the financial services provider's stock after selling 4,130 shares during the period. Gulf International Bank UK Ltd's holdings in Arthur J. Gallagher & Co. were worth $5,017,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Rockefeller Capital Management L.P. lifted its position in shares of Arthur J. Gallagher & Co. by 0.3% during the fourth quarter. Rockefeller Capital Management L.P. now owns 17,799 shares of the financial services provider's stock worth $5,047,000 after purchasing an additional 49 shares in the last quarter. Townsquare Capital LLC lifted its position in shares of Arthur J. Gallagher & Co. by 11.0% during the fourth quarter. Townsquare Capital LLC now owns 9,194 shares of the financial services provider's stock worth $2,610,000 after purchasing an additional 913 shares in the last quarter. Sagespring Wealth Partners LLC acquired a new position in shares of Arthur J. Gallagher & Co. during the fourth quarter worth approximately $331,000. Advisors Capital Management LLC acquired a new position in shares of Arthur J. Gallagher & Co. during the fourth quarter worth approximately $221,000. Finally, Summit Investment Advisors Inc. lifted its position in shares of Arthur J. Gallagher & Co. by 10.1% during the fourth quarter. Summit Investment Advisors Inc. now owns 2,443 shares of the financial services provider's stock worth $693,000 after purchasing an additional 224 shares in the last quarter. 85.53% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on AJG shares. Barclays reduced their target price on shares of Arthur J. Gallagher & Co. from $346.00 to $327.00 and set an "equal weight" rating on the stock in a research report on Monday, July 7th. Citigroup started coverage on shares of Arthur J. Gallagher & Co. in a research note on Wednesday. They set a "neutral" rating and a $317.00 price target for the company. Piper Sandler boosted their price target on shares of Arthur J. Gallagher & Co. from $352.00 to $372.00 and gave the stock an "overweight" rating in a research note on Friday, August 1st. UBS Group dropped their price target on shares of Arthur J. Gallagher & Co. from $345.00 to $322.00 and set a "neutral" rating for the company in a research note on Monday, August 4th. Finally, Cantor Fitzgerald raised shares of Arthur J. Gallagher & Co. to a "strong-buy" rating in a research note on Wednesday. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $331.07.

Insider Activity at Arthur J. Gallagher & Co.

In other news, insider Susan E. Pietrucha sold 13,500 shares of the company'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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Scott R. Hudson sold 10,500 shares of the company's stock in a transaction that occurred on Wednesday, May 21st. The shares were sold at an average price of $337.17, for a total transaction of $3,540,285.00. Following the completion of the transaction, the vice president owned 91,175 shares of the company's stock, valued at $30,741,474.75. This trade represents a 10.33% decrease in their position. The disclosure for this sale can be found here. 1.60% of the stock is owned by corporate insiders.

Arthur J. Gallagher & Co. Trading Down 0.3%

NYSE:AJG traded down $0.79 during trading hours on Friday, hitting $292.62. The stock had a trading volume of 1,237,379 shares, compared to its average volume of 1,665,758. Arthur J. Gallagher & Co. has a one year low of $274.25 and a one year high of $351.23. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.36 and a current ratio of 1.36. The company has a market cap of $75.03 billion, a price-to-earnings ratio of 41.57 and a beta of 0.68. The business's 50 day moving average is $308.01 and its 200-day moving average is $322.39.

Arthur J. Gallagher & Co. (NYSE:AJG - Get Free Report) last issued its earnings results on Thursday, July 31st. The financial services provider reported $2.33 EPS for the quarter, missing the consensus estimate of $2.36 by ($0.03). The firm had revenue of $3.18 billion during the quarter, compared to the consensus estimate of $3.20 billion. Arthur J. Gallagher & Co. had a net margin of 14.54% and a return on equity of 13.17%. The firm's revenue for the quarter was up 16.0% on a year-over-year basis. During the same period in the previous year, the company posted $2.29 EPS. Sell-side analysts anticipate that Arthur J. Gallagher & Co. will post 11.54 EPS for the current fiscal year.

Arthur J. Gallagher & Co. Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, September 19th. Stockholders of record on Friday, September 5th will be issued a $0.65 dividend. This represents a $2.60 annualized dividend and a dividend yield of 0.9%. The ex-dividend date is Friday, September 5th. Arthur J. Gallagher & Co.'s dividend payout ratio is 36.93%.

Arthur J. Gallagher & Co. Company 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.