Penserra Capital Management LLC Buys 4,044 Shares of Arthur J. Gallagher & Co. (NYSE:AJG)

Penserra Capital Management LLC grew its holdings in Arthur J. Gallagher & Co. (NYSE:AJG - Free Report) by 257.4% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,615 shares of the financial services provider's stock after purchasing an additional 4,044 shares during the period. Penserra Capital Management LLC's holdings in Arthur J. Gallagher & Co. were worth $1,937,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Victory Capital Management Inc. raised its holdings in shares of Arthur J. Gallagher & Co. by 6.2% during the fourth quarter. Victory Capital Management Inc. now owns 106,991 shares of the financial services provider's stock worth $30,369,000 after acquiring an additional 6,239 shares in the last quarter. Proficio Capital Partners LLC raised its holdings in shares of Arthur J. Gallagher & Co. by 19.7% during the fourth quarter. Proficio Capital Partners LLC now owns 948 shares of the financial services provider's stock worth $269,000 after acquiring an additional 156 shares in the last quarter. Ashton Thomas Private Wealth LLC purchased a new stake in shares of Arthur J. Gallagher & Co. during the fourth quarter worth $770,000. Banco Santander S.A. purchased a new stake in shares of Arthur J. Gallagher & Co. during the fourth quarter worth $400,000. Finally, PNC Financial Services Group Inc. raised its holdings in shares of Arthur J. Gallagher & Co. by 5.6% during the fourth quarter. PNC Financial Services Group Inc. now owns 63,319 shares of the financial services provider's stock worth $17,973,000 after acquiring an additional 3,383 shares in the last quarter. Hedge funds and other institutional investors own 85.53% of the company's stock.

Analyst Upgrades and Downgrades

AJG has been the subject of several recent research reports. Barclays cut their price objective on Arthur J. Gallagher & Co. from $346.00 to $327.00 and set an "equal weight" rating for the company in a report on Monday. Keefe, Bruyette & Woods increased 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 report on Thursday, June 5th. Wells Fargo & Company lowered 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. Redburn Atlantic initiated coverage on shares of Arthur J. Gallagher & Co. in a research report on Tuesday, March 25th. They set a "neutral" rating and a $352.00 target price on the stock. Finally, Jefferies Financial Group lowered their target price on shares of Arthur J. Gallagher & Co. from $266.00 to $265.00 and set a "hold" rating on the stock in a research report on Friday, April 11th. Two equities 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 stock. According to data from MarketBeat.com, Arthur J. Gallagher & Co. currently has an average rating of "Hold" and a consensus price target of $317.93.

Insider Buying and Selling

In other Arthur J. Gallagher & Co. news, VP Scott R. Hudson sold 10,500 shares of Arthur J. Gallagher & Co. stock in a transaction 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 sale, the vice president owned 91,175 shares of the company's stock, valued at approximately $30,741,474.75. The trade was a 10.33% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director David S. Johnson sold 1,000 shares of Arthur J. Gallagher & Co. stock in a transaction 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 directly owned 45,323 shares of the company's stock, valued at $15,502,278.92. This represents a 2.16% decrease in their position. The disclosure for this sale can be found here. Insiders sold 25,000 shares of company stock worth $8,528,080 in the last quarter. Insiders own 1.60% of the company's stock.

Arthur J. Gallagher & Co. Price Performance

AJG traded down $2.22 during midday trading on Tuesday, reaching $313.85. 1,110,061 shares of the company's stock were exchanged, compared to its average volume of 1,554,570. The firm has a market capitalization of $80.38 billion, a price-to-earnings ratio of 45.42 and a beta of 0.71. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 0.56. Arthur J. Gallagher & Co. has a one year low of $263.21 and a one year high of $351.23. The business has a 50-day simple moving average of $328.44 and a two-hundred day simple moving average of $320.20.

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 (EPS) for the quarter, beating analysts' consensus estimates 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 company had revenue of $3.69 billion during the quarter, compared to analysts' expectations of $3.85 billion. During the same quarter in the previous year, the company posted $3.45 earnings per share. Arthur J. Gallagher & Co.'s quarterly revenue was up 14.5% compared to the same quarter last year. As a group, research analysts predict that Arthur J. Gallagher & Co. will post 11.54 EPS for the current year.

Arthur J. Gallagher & Co. Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 20th. Investors of record on Friday, June 6th were given a $0.65 dividend. This represents a $2.60 annualized dividend and a yield of 0.83%. The ex-dividend date of this dividend was Friday, June 6th. Arthur J. Gallagher & Co.'s dividend payout ratio (DPR) is presently 37.63%.

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.