Robbins Farley Sells 1,663 Shares of Arthur J. Gallagher & Co. (NYSE:AJG)

Robbins Farley lowered its holdings in Arthur J. Gallagher & Co. (NYSE:AJG - Free Report) by 12.0% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 12,158 shares of the financial services provider's stock after selling 1,663 shares during the period. Arthur J. Gallagher & Co. makes up 2.2% of Robbins Farley's portfolio, making the stock its 19th biggest position. Robbins Farley's holdings in Arthur J. Gallagher & Co. were worth $4,197,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the stock. Two Sigma Investments LP acquired a new stake in shares of Arthur J. Gallagher & Co. during the fourth quarter worth approximately $382,000. Jones Financial Companies Lllp lifted its holdings in shares of Arthur J. Gallagher & Co. by 337.7% in the fourth quarter. Jones Financial Companies Lllp now owns 3,243 shares of the financial services provider's stock valued at $921,000 after purchasing an additional 2,502 shares in the last quarter. Principal Financial Group Inc. raised its holdings in Arthur J. Gallagher & Co. by 126.2% during the fourth quarter. Principal Financial Group Inc. now owns 2,003,237 shares of the financial services provider's stock worth $568,619,000 after acquiring an additional 1,117,441 shares in the last quarter. Proficio Capital Partners LLC raised its holdings in 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. Finally, Seven Grand Managers LLC bought a new stake in Arthur J. Gallagher & Co. in the fourth quarter valued at approximately $7,096,000. 85.53% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

AJG has been the topic of a number of research analyst reports. Wells Fargo & Company reduced their target price on Arthur J. Gallagher & Co. from $372.00 to $371.00 and set an "overweight" rating on the stock in a report on Monday, June 9th. Jefferies Financial Group cut their target price on Arthur J. Gallagher & Co. from $266.00 to $265.00 and set a "hold" rating on the stock in a research note on Friday, April 11th. Barclays boosted their target price on shares of Arthur J. Gallagher & Co. from $308.00 to $346.00 and gave the company an "equal weight" rating in a report on Friday, April 11th. Redburn Atlantic started coverage on shares of Arthur J. Gallagher & Co. in a research report on Tuesday, March 25th. They issued a "neutral" rating and a $352.00 target price for the company. Finally, Keefe, Bruyette & Woods raised their target price 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. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and five have assigned a buy rating to the company's stock. Based on data from MarketBeat, Arthur J. Gallagher & Co. currently has an average rating of "Hold" and an average target price of $319.29.

Insiders Place Their Bets

In other news, Director David S. Johnson sold 1,000 shares of the company'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 $15,502,278.92. This represents a 2.16% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider Susan E. Pietrucha sold 13,500 shares of the company's stock in a transaction on 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 sale, the insider now owns 11,941 shares of the company's stock, valued at approximately $4,109,256.33. This represents a 53.06% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 32,510 shares of company stock valued at $11,033,341. 1.30% of the stock is currently owned by insiders.

Arthur J. Gallagher & Co. Trading Down 1.2%

AJG traded down $3.77 during trading on Friday, reaching $316.38. The company had a trading volume of 1,038,988 shares, compared to its average volume of 1,344,334. The firm's 50-day simple moving average is $331.51 and its 200 day simple moving average is $317.22. The company has a market cap of $81.02 billion, a price-to-earnings ratio of 48.52 and a beta of 0.74. Arthur J. Gallagher & Co. has a 12-month low of $251.42 and a 12-month high of $351.23. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.51 and a current ratio of 1.51.

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, topping the consensus estimate of $3.57 by $0.10. The firm had revenue of $3.69 billion during the quarter, compared to analyst estimates of $3.85 billion. Arthur J. Gallagher & Co. had a return on equity of 16.47% and a net margin of 12.70%. The company's revenue for the quarter was up 14.5% on a year-over-year basis. During the same period in the previous year, the company earned $3.45 EPS. Equities research analysts anticipate that Arthur J. Gallagher & Co. will post 11.54 earnings per share for the current year.

Arthur J. Gallagher & Co. Dividend Announcement

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

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.