Sigma Investment Counselors Inc. Reduces Holdings in Arthur J. Gallagher & Co. (NYSE:AJG)

Sigma Investment Counselors Inc. lessened its holdings in shares of Arthur J. Gallagher & Co. (NYSE:AJG - Free Report) by 2.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 31,763 shares of the financial services provider's stock after selling 861 shares during the period. Sigma Investment Counselors Inc.'s holdings in Arthur J. Gallagher & Co. were worth $10,966,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Arthur J. Gallagher & Co. Trading Down 0.7%

Shares of Arthur J. Gallagher & Co. stock traded down $2.22 on Tuesday, reaching $313.85. The company had a trading volume of 1,110,061 shares, compared to its average volume of 1,379,056. Arthur J. Gallagher & Co. has a 52-week low of $263.22 and a 52-week high of $351.23. The firm's 50 day moving average price is $328.44 and its two-hundred day moving average price is $320.20. The firm has a market cap of $80.38 billion, a PE ratio of 45.42 and a beta of 0.71. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.44 and a current ratio of 1.44.

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 earnings per share for the quarter, topping 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 firm had revenue of $3.69 billion for the quarter, compared to the consensus estimate of $3.85 billion. During the same period in the prior year, the firm earned $3.45 EPS. The firm's revenue for the quarter was up 14.5% on a year-over-year basis. Sell-side analysts predict that Arthur J. Gallagher & Co. will post 11.54 earnings per share for the current fiscal year.

Arthur J. Gallagher & Co. Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, June 20th. Investors of record on Friday, June 6th were paid a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a yield of 0.83%. The ex-dividend date was Friday, June 6th. Arthur J. Gallagher & Co.'s dividend payout ratio is currently 37.63%.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on AJG shares. Wells Fargo & Company dropped 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. Barclays dropped their target price on shares of Arthur J. Gallagher & Co. from $346.00 to $327.00 and set an "equal weight" rating on the stock in a research report on Monday. Jefferies Financial Group lowered their price target 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. Keefe, Bruyette & Woods lifted 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. Finally, Redburn Atlantic initiated coverage on shares of Arthur J. Gallagher & Co. in a research note on Tuesday, March 25th. They set a "neutral" rating and a $352.00 target price on the stock. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $317.93.

Insider Buying and Selling

In other news, insider Susan E. Pietrucha sold 13,500 shares of the firm's stock in a transaction on 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 sale, the insider owned 11,941 shares in the company, valued at approximately $4,109,256.33. This trade represents a 53.06% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director David S. Johnson sold 1,000 shares of the firm's 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 completion of the sale, the director owned 45,323 shares of the company's stock, valued at $15,502,278.92. This trade represents a 2.16% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 25,000 shares of company stock worth $8,528,080 in the last 90 days. Company insiders own 1.60% of the company's stock.

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.