Sequoia Financial Advisors LLC Grows Stake in Arthur J. Gallagher & Co. $AJG

Key Points

• Sequoia Financial Advisors increased its Arthur J. Gallagher stake by 7.1% in the second quarter to 149,799 shares valued at approximately $34.4 million. Institutional investors collectively own 85.53% of the company.
• Arthur J. Gallagher reported quarterly EPS of $2.84, exceeding estimates by $0.03, while revenue rose 24.3% year over year to $3.95 billion. The company declared a quarterly dividend of $0.70 per share, representing a 1.1% yield.
• Analysts maintain a positive outlook, with a consensus rating of “Moderate Buy” and an average price target of $290.28, despite the stock recently trading down 2.7% at $244.65. Several company insiders sold shares during the past 90 days.

Sequoia Financial Advisors LLC grew its stake in shares of Arthur J. Gallagher & Co. (NYSE:AJG - Free Report) by 7.1% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 149,799 shares of the financial services provider's stock after acquiring an additional 9,966 shares during the quarter. Sequoia Financial Advisors LLC owned about 0.06% of Arthur J. Gallagher & Co. worth $34,389,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of AJG. California State Teachers Retirement System grew its position in Arthur J. Gallagher & Co. by 23,248.0% during the 2nd quarter. California State Teachers Retirement System now owns 86,171,395 shares of the financial services provider's stock valued at $19,782,367,000 after purchasing an additional 85,802,321 shares during the last quarter. Capital World Investors raised its holdings in Arthur J. Gallagher & Co. by 7.0% in the fourth quarter. Capital World Investors now owns 12,613,371 shares of the financial services provider's stock worth $3,264,359,000 after buying an additional 830,252 shares during the last quarter. State Street Corp lifted its stake in shares of Arthur J. Gallagher & Co. by 0.6% in the fourth quarter. State Street Corp now owns 10,953,598 shares of the financial services provider's stock worth $2,834,682,000 after buying an additional 62,518 shares in the last quarter. Norges Bank purchased a new stake in shares of Arthur J. Gallagher & Co. during the fourth quarter valued at approximately $1,925,062,000. Finally, T. Rowe Price Investment Management Inc. increased its position in shares of Arthur J. Gallagher & Co. by 123.5% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 5,887,538 shares of the financial services provider's stock valued at $1,523,636,000 after acquiring an additional 3,253,498 shares in the last quarter. Institutional investors own 85.53% of the company's stock.

Arthur J. Gallagher & Co. Stock Down 2.7%

Arthur J. Gallagher & Co. stock opened at $244.65 on Thursday. Arthur J. Gallagher & Co. has a one year low of $190.75 and a one year high of $313.55. The stock has a fifty day moving average of $255.42 and a 200 day moving average of $228.58. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.05 and a current ratio of 1.05. The stock has a market cap of $62.70 billion, a PE ratio of 40.57, a price-to-earnings-growth ratio of 1.52 and a beta of 0.50.

Arthur J. Gallagher & Co. (NYSE:AJG - Get Free Report) last announced its earnings results on Thursday, July 30th. The financial services provider reported $2.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.81 by $0.03. Arthur J. Gallagher & Co. had a return on equity of 13.28% and a net margin of 9.96%.The business had revenue of $3.95 billion for the quarter, compared to analysts' expectations of $4.01 billion. During the same period last year, the firm posted $2.33 earnings per share. The business's revenue for the quarter was up 24.3% on a year-over-year basis. As a group, sell-side analysts predict that Arthur J. Gallagher & Co. will post 13.28 EPS for the current year.

Arthur J. Gallagher & Co. Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 18th. Investors of record on Tuesday, September 8th will be given a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 1.1%. The ex-dividend date is Tuesday, September 8th. Arthur J. Gallagher & Co.'s payout ratio is 46.43%.

Insider Buying and Selling at Arthur J. Gallagher & Co.

In other news, General Counsel Walter D. Bay sold 12,000 shares of the business's stock in a transaction on Monday, August 24th. The shares were sold at an average price of $270.08, for a total transaction of $3,240,960.00. Following the completion of the sale, the general counsel owned 71,292 shares of the company's stock, valued at $19,254,543.36. The trade was a 14.41% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Scott R. Hudson sold 12,000 shares of the firm's stock in a transaction on Wednesday, September 2nd. The stock was sold at an average price of $264.13, for a total value of $3,169,560.00. Following the completion of the transaction, the vice president directly owned 90,262 shares in the company, valued at approximately $23,840,902.06. This represents a 11.73% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 27,500 shares of company stock valued at $7,310,090. Insiders own 1.40% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Citigroup upped their price objective on Arthur J. Gallagher & Co. from $250.00 to $285.00 and gave the company a "buy" rating in a research report on Tuesday, August 4th. Mizuho lifted their target price on Arthur J. Gallagher & Co. from $287.00 to $300.00 and gave the stock an "outperform" rating in a report on Friday, July 31st. Barclays upped their price target on Arthur J. Gallagher & Co. from $275.00 to $292.00 and gave the company an "overweight" rating in a report on Tuesday, July 7th. Royal Bank Of Canada increased their price objective on Arthur J. Gallagher & Co. from $300.00 to $310.00 and gave the company an "outperform" rating in a research report on Friday, July 31st. Finally, Morgan Stanley boosted their target price on Arthur J. Gallagher & Co. from $270.00 to $290.00 and gave the stock an "overweight" rating in a research report on Wednesday, August 19th. Fourteen investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $290.28.

Arthur J. Gallagher & Co. Company Profile

Arthur J. Gallagher & Co is a global insurance brokerage, risk management and consulting company. The company helps businesses, institutions and individuals identify, manage and transfer risk through insurance and related services.

Its operations include retail insurance brokerage, employee benefits consulting, risk management, claims administration, actuarial services, captive insurance and wholesale brokerage. Gallagher arranges commercial property and casualty coverage, personal insurance, specialty insurance and employee benefit programs, while also providing services designed to help clients manage workplace, liability and other operational risks.

Founded in 1927 by Arthur J.

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