Arthur J. Gallagher & Co. (NYSE:AJG) Shares Bought by LGT Fund Management Co Ltd.

Key Points

• LGT Fund Management Co Ltd. increased its holdings in Arthur J. Gallagher & Co. by 43.1% during the first quarter, now owning 7,600 shares valued at approximately $2.62 million.
• Arthur J. Gallagher & Co. reported $2.33 earnings per share for the last quarter, missing estimates by $0.03, with a 16% year-over-year revenue increase.
• The company recently declared a quarterly dividend of $0.65, translating to an annualized payout of $2.60 and a yield of 0.9%.

LGT Fund Management Co Ltd. boosted its stake in shares of Arthur J. Gallagher & Co. (NYSE:AJG - Free Report) by 43.1% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 7,600 shares of the financial services provider's stock after acquiring an additional 2,288 shares during the quarter. LGT Fund Management Co Ltd.'s holdings in Arthur J. Gallagher & Co. were worth $2,624,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. HWG Holdings LP acquired a new stake in Arthur J. Gallagher & Co. during the 1st quarter worth approximately $25,000. Johnson Financial Group Inc. lifted its position in Arthur J. Gallagher & Co. by 205.4% during the 4th quarter. Johnson Financial Group Inc. now owns 113 shares of the financial services provider's stock worth $34,000 after acquiring an additional 76 shares during the period. Parvin Asset Management LLC acquired a new stake in Arthur J. Gallagher & Co. during the 4th quarter worth approximately $35,000. Centennial Bank AR acquired a new stake in Arthur J. Gallagher & Co. during the 1st quarter worth approximately $38,000. Finally, Golden State Wealth Management LLC raised its stake in shares of Arthur J. Gallagher & Co. by 2,750.0% during the 1st quarter. Golden State Wealth Management LLC now owns 114 shares of the financial services provider's stock worth $39,000 after buying an additional 110 shares in the last quarter. 85.53% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on AJG. Wells Fargo & Company increased their target price on Arthur J. Gallagher & Co. from $371.00 to $373.00 and gave the stock an "overweight" rating in a research note on Friday, August 1st. Keefe, Bruyette & Woods increased their target price 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. Erste Group Bank reissued a "hold" rating on shares of Arthur J. Gallagher & Co. in a research note on Wednesday, July 23rd. Cantor Fitzgerald raised Arthur J. Gallagher & Co. to a "strong-buy" rating in a research note on Wednesday. Finally, Wall Street Zen downgraded Arthur J. Gallagher & Co. from a "hold" rating to a "sell" rating in a research note on Saturday, August 9th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $331.07.

Insider Activity at Arthur J. Gallagher & Co.

In related news, VP Scott R. Hudson sold 10,500 shares of Arthur J. Gallagher & Co. stock in a transaction on Wednesday, May 21st. The stock was sold at an average price of $337.17, for a total value of $3,540,285.00. Following the transaction, the vice president owned 91,175 shares in the company, valued at approximately $30,741,474.75. This trade represents a 10.33% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Susan E. Pietrucha sold 13,500 shares of the business's stock in a transaction dated Monday, May 19th. The stock was sold at an average price of $344.13, for a total value of $4,645,755.00. Following the transaction, the insider owned 11,941 shares in the company, valued at approximately $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 have sold 25,000 shares of company stock worth $8,528,080. 1.60% of the stock is owned by insiders.

Arthur J. Gallagher & Co. Trading Down 0.6%

Arthur J. Gallagher & Co. stock traded down $1.69 during midday trading on Thursday, reaching $293.41. The stock had a trading volume of 1,280,154 shares, compared to its average volume of 1,666,154. Arthur J. Gallagher & Co. has a twelve month low of $274.25 and a twelve month high of $351.23. The stock has a market capitalization of $75.23 billion, a PE ratio of 41.68 and a beta of 0.68. 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 stock's 50-day simple moving average is $308.74 and its 200 day simple 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 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 quarter in the previous year, the business posted $2.29 EPS. Arthur J. Gallagher & Co.'s revenue was up 16.0% compared to the same quarter last year. Analysts expect that Arthur J. Gallagher & Co. will post 11.54 EPS for the current year.

Arthur J. Gallagher & Co. Announces Dividend

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