Arthur J. Gallagher & Co. (NYSE:AJG) Shares Sold by New Century Financial Group LLC

New Century Financial Group LLC lessened its holdings in Arthur J. Gallagher & Co. (NYSE:AJG - Free Report) by 63.4% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,147 shares of the financial services provider's stock after selling 1,984 shares during the period. New Century Financial Group LLC's holdings in Arthur J. Gallagher & Co. were worth $396,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of AJG. Norges Bank purchased a new position in Arthur J. Gallagher & Co. in the 4th quarter valued at about $1,421,591,000. Vanguard Group Inc. raised its position in shares of Arthur J. Gallagher & Co. by 14.9% in the fourth quarter. Vanguard Group Inc. now owns 29,672,134 shares of the financial services provider's stock valued at $8,422,435,000 after buying an additional 3,851,661 shares during the last quarter. Winslow Capital Management LLC purchased a new position in shares of Arthur J. Gallagher & Co. during the fourth quarter valued at approximately $719,489,000. Capital World Investors boosted its position in Arthur J. Gallagher & Co. by 30.4% during the fourth quarter. Capital World Investors now owns 8,199,413 shares of the financial services provider's stock worth $2,327,403,000 after acquiring an additional 1,910,471 shares during the last quarter. Finally, Wellington Management Group LLP grew its stake in Arthur J. Gallagher & Co. by 162.0% in the 4th quarter. Wellington Management Group LLP now owns 2,822,319 shares of the financial services provider's stock worth $801,115,000 after acquiring an additional 1,745,283 shares during the period. 85.53% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Arthur J. Gallagher & Co.

In other Arthur J. Gallagher & Co. news, insider Susan E. Pietrucha sold 13,500 shares of the company's stock in a transaction dated 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 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 transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Scott R. Hudson sold 7,510 shares of the firm's stock in a transaction dated Friday, March 21st. The shares were sold at an average price of $333.59, for a total value of $2,505,260.90. Following the sale, the vice president now owns 90,020 shares of the company's stock, valued at $30,029,771.80. This represents a 7.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 32,510 shares of company stock worth $11,033,341. 1.30% of the stock is currently owned by company insiders.

Arthur J. Gallagher & Co. Trading Down 0.1%

AJG stock traded down $0.26 during midday trading on Tuesday, reaching $316.07. 958,419 shares of the company's stock traded hands, compared to its average volume of 1,344,961. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.44 and a quick ratio of 1.44. Arthur J. Gallagher & Co. has a fifty-two week low of $251.42 and a fifty-two week high of $351.23. The business has a 50-day moving average price of $331.46 and a two-hundred day moving average price of $317.26. The company has a market capitalization of $80.95 billion, a P/E ratio of 45.74 and a beta of 0.74.

Arthur J. Gallagher & Co. (NYSE:AJG - Get Free Report) last posted its earnings results on Thursday, May 1st. The financial services provider reported $3.67 earnings per share for the quarter, beating the consensus estimate of $3.57 by $0.10. Arthur J. Gallagher & Co. had a net margin of 14.39% and a return on equity of 14.83%. The business had revenue of $3.69 billion for the quarter, compared to analyst estimates of $3.85 billion. During the same quarter in the previous year, the business posted $3.45 EPS. The business's quarterly revenue was up 14.5% on a year-over-year basis. Equities research analysts forecast 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 announced a quarterly dividend, which will be paid on Friday, June 20th. Stockholders of record on Friday, June 6th will be paid a $0.65 dividend. The ex-dividend date is Friday, June 6th. This represents a $2.60 dividend on an annualized basis and a dividend yield of 0.82%. Arthur J. Gallagher & Co.'s dividend payout ratio (DPR) is currently 37.63%.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on AJG shares. Keefe, Bruyette & Woods increased their price target on Arthur J. Gallagher & Co. from $315.00 to $326.00 and gave the stock a "market perform" rating in a research note on Thursday, June 5th. Redburn Atlantic began coverage on Arthur J. Gallagher & Co. in a research note on Tuesday, March 25th. They issued a "neutral" rating and a $352.00 target price for the company. Barclays raised their price target on Arthur J. Gallagher & Co. from $308.00 to $346.00 and gave the stock an "equal weight" rating in a research note on Friday, April 11th. Jefferies Financial Group dropped their price objective on shares of Arthur J. Gallagher & Co. from $266.00 to $265.00 and set a "hold" rating for the company in a research note on Friday, April 11th. Finally, Wells Fargo & Company decreased their target price on shares of Arthur J. Gallagher & Co. from $372.00 to $371.00 and set an "overweight" rating on the stock in a research report on Monday, June 9th. Two 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. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $319.29.

Arthur J. Gallagher & Co. 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.