King Luther Capital Management Corp Reduces Position in Arthur J. Gallagher & Co. (NYSE:AJG)

Key Points

• King Luther Capital Management Corp reduced its stake in Arthur J. Gallagher & Co. by 1.6%, selling 3,864 shares, and now owns approximately 0.09% of the company valued at $83.2 million.
• A major insider, Director David S. Johnson, sold 1,000 shares for $342,040, reducing his ownership by 2.16%, while VP Scott R. Hudson sold 10,500 shares valued at approximately $3.54 million.
• Analysts have varied opinions on the stock, with UBS lowering its target price from $345 to $322, while Piper Sandler raised its target from $352 to $372, reflecting mixed sentiments in the market.

King Luther Capital Management Corp lessened its position in shares of Arthur J. Gallagher & Co. (NYSE:AJG - Free Report) by 1.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 241,090 shares of the financial services provider's stock after selling 3,864 shares during the quarter. King Luther Capital Management Corp owned about 0.09% of Arthur J. Gallagher & Co. worth $83,234,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Checchi Capital Advisers LLC grew its position in Arthur J. Gallagher & Co. by 1.1% in the 1st quarter. Checchi Capital Advisers LLC now owns 2,899 shares of the financial services provider's stock valued at $1,001,000 after buying an additional 31 shares during the last quarter. Menard Financial Group LLC lifted its holdings in Arthur J. Gallagher & Co. by 0.8% in the first quarter. Menard Financial Group LLC now owns 3,812 shares of the financial services provider's stock valued at $1,289,000 after acquiring an additional 32 shares during the period. Allen Capital Group LLC boosted its position in shares of Arthur J. Gallagher & Co. by 2.1% during the 1st quarter. Allen Capital Group LLC now owns 1,603 shares of the financial services provider's stock worth $553,000 after purchasing an additional 33 shares in the last quarter. Allred Capital Management LLC grew its stake in shares of Arthur J. Gallagher & Co. by 1.0% during the 4th quarter. Allred Capital Management LLC now owns 3,380 shares of the financial services provider's stock worth $960,000 after purchasing an additional 34 shares during the period. Finally, City Holding Co. increased its holdings in shares of Arthur J. Gallagher & Co. by 3.1% in the 1st quarter. City Holding Co. now owns 1,140 shares of the financial services provider's stock valued at $394,000 after purchasing an additional 34 shares in the last quarter. Hedge funds and other institutional investors own 85.53% of the company's stock.

Insider Buying and Selling

In other Arthur J. Gallagher & Co. news, insider Susan E. Pietrucha sold 13,500 shares of the business'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 transaction of $4,645,755.00. Following the completion of the sale, the insider directly owned 11,941 shares in the company, valued at $4,109,256.33. The trade was 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 this hyperlink. Also, VP Scott R. Hudson sold 10,500 shares of the firm's stock in a transaction dated Wednesday, May 21st. The shares were sold at an average price of $337.17, for a total value of $3,540,285.00. Following the completion of the transaction, the vice president directly owned 91,175 shares in the company, valued at $30,741,474.75. This trade represents a 10.33% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 25,000 shares of company stock valued at $8,528,080. Insiders own 1.60% of the company's stock.

Analyst Ratings Changes

AJG has been the topic of a number of research analyst reports. Wall Street Zen downgraded shares of Arthur J. Gallagher & Co. from a "hold" rating to a "sell" rating in a report on Saturday, August 9th. Cantor Fitzgerald upgraded shares of Arthur J. Gallagher & Co. to a "strong-buy" rating in a report on Wednesday. Barclays cut their target price on shares of Arthur J. Gallagher & Co. from $346.00 to $327.00 and set an "equal weight" rating for the company in a research report on Monday, July 7th. UBS Group lowered their price target on shares of Arthur J. Gallagher & Co. from $345.00 to $322.00 and set a "neutral" rating on the stock in a research report on Monday, August 4th. Finally, Wells Fargo & Company lifted their price objective on Arthur J. Gallagher & Co. from $371.00 to $373.00 and gave the stock an "overweight" rating in a research report on Friday, August 1st. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating, five have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $331.07.

Arthur J. Gallagher & Co. Trading Down 0.8%

Shares of NYSE:AJG traded down $2.48 during trading on Thursday, reaching $292.62. The stock had a trading volume of 624,299 shares, compared to its average volume of 1,548,246. The business has a fifty day moving average price of $309.43 and a 200-day moving average price of $322.41. The company has a quick ratio of 1.36, a current ratio of 1.36 and a debt-to-equity ratio of 0.52. The stock has a market cap of $75.03 billion, a P/E ratio of 41.54 and a beta of 0.68. Arthur J. Gallagher & Co. has a fifty-two week low of $274.25 and a fifty-two week high of $351.23.

Arthur J. Gallagher & Co. (NYSE:AJG - Get Free Report) last posted its quarterly earnings data on Thursday, July 31st. The financial services provider reported $2.33 earnings per share for the quarter, missing analysts' consensus estimates of $2.36 by ($0.03). Arthur J. Gallagher & Co. had a net margin of 14.54% and a return on equity of 13.17%. The firm had revenue of $3.18 billion during the quarter, compared to analyst estimates of $3.20 billion. During the same period in the prior year, the firm earned $2.29 EPS. The business's quarterly revenue was up 16.0% on a year-over-year basis. As a group, analysts anticipate that Arthur J. Gallagher & Co. will post 11.54 earnings per share 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. Investors of record on Friday, September 5th will be given a dividend of $0.65 per share. The ex-dividend date of this dividend is Friday, September 5th. This represents a $2.60 annualized dividend and a yield of 0.9%. 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.