NorthCrest Asset Manangement LLC Invests $880,000 in Arthur J. Gallagher & Co. (NYSE:AJG)

NorthCrest Asset Manangement LLC purchased a new stake in shares of Arthur J. Gallagher & Co. (NYSE:AJG - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 2,549 shares of the financial services provider's stock, valued at approximately $880,000.

Several other institutional investors have also recently made changes to their positions in AJG. Kingsview Wealth Management LLC raised its position in Arthur J. Gallagher & Co. by 13.8% in the fourth quarter. Kingsview Wealth Management LLC now owns 982 shares of the financial services provider's stock valued at $279,000 after purchasing an additional 119 shares during the period. Kestra Private Wealth Services LLC raised its position in Arthur J. Gallagher & Co. by 17.6% in the fourth quarter. Kestra Private Wealth Services LLC now owns 2,787 shares of the financial services provider's stock valued at $791,000 after purchasing an additional 417 shares during the period. Allspring Global Investments Holdings LLC raised its position in Arthur J. Gallagher & Co. by 9.6% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 11,198 shares of the financial services provider's stock valued at $3,089,000 after purchasing an additional 982 shares during the period. Avestar Capital LLC raised its position in Arthur J. Gallagher & Co. by 7.7% in the fourth quarter. Avestar Capital LLC now owns 1,116 shares of the financial services provider's stock valued at $317,000 after purchasing an additional 80 shares during the period. Finally, Asset Management One Co. Ltd. raised its position in Arthur J. Gallagher & Co. by 15.6% in the fourth quarter. Asset Management One Co. Ltd. now owns 97,918 shares of the financial services provider's stock valued at $28,057,000 after purchasing an additional 13,242 shares during the period. Hedge funds and other institutional investors own 85.53% of the company's stock.

Arthur J. Gallagher & Co. Stock Performance

Shares of NYSE:AJG traded down $3.77 on Friday, reaching $316.38. The company's stock had a trading volume of 1,038,988 shares, compared to its average volume of 1,344,334. The stock's 50-day moving average is $331.51 and its two-hundred day moving average is $317.22. Arthur J. Gallagher & Co. has a 52-week low of $251.42 and a 52-week high of $351.23. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.51 and a quick ratio of 1.51. The stock has a market capitalization of $81.02 billion, a P/E ratio of 48.52 and a beta of 0.74.

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

Arthur J. Gallagher & Co. Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 20th. Shareholders of record on Friday, June 6th will be given a dividend of $0.65 per share. The ex-dividend date of this dividend is Friday, June 6th. This represents a $2.60 annualized dividend and a yield of 0.82%. Arthur J. Gallagher & Co.'s payout ratio is currently 37.63%.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. Wells Fargo & Company dropped their price target on shares of Arthur J. Gallagher & Co. from $372.00 to $371.00 and set an "overweight" rating for the company in a research note on Monday, June 9th. Jefferies Financial Group dropped their price target 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. Redburn Atlantic assumed coverage on shares of Arthur J. Gallagher & Co. in a research note on Tuesday, March 25th. They issued a "neutral" rating and a $352.00 price target for the company. Barclays boosted their price target on shares of 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. Finally, Keefe, Bruyette & Woods boosted their target price on shares of 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. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Hold" and an average target price of $319.29.

Insiders Place Their Bets

In related news, VP Scott R. Hudson sold 7,510 shares of the firm's stock in a transaction that occurred 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 sale, the vice president now owns 90,020 shares in the company, valued at approximately $30,029,771.80. This trade represents a 7.70% 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 this hyperlink. Also, Director David S. Johnson sold 1,000 shares of the firm's stock in a transaction that occurred on Friday, May 16th. The stock was sold at an average price of $342.04, for a total transaction of $342,040.00. Following the sale, the director now owns 45,323 shares in the company, valued at approximately $15,502,278.92. This trade represents a 2.16% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 32,510 shares of company stock worth $11,033,341. 1.30% of the stock is owned by company insiders.

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.