Smithbridge Asset Management Inc. DE Takes $11.28 Million Position in Arthur J. Gallagher & Co. (NYSE:AJG)

Smithbridge Asset Management Inc. DE purchased a new stake in shares of Arthur J. Gallagher & Co. (NYSE:AJG - Free Report) in the first quarter, according to its most recent filing with the SEC. The firm purchased 32,678 shares of the financial services provider's stock, valued at approximately $11,282,000. Arthur J. Gallagher & Co. accounts for about 2.1% of Smithbridge Asset Management Inc. DE's portfolio, making the stock its 11th largest position.

Other hedge funds and other institutional investors also recently modified their holdings of the company. MRP Capital Investments LLC purchased a new position in shares of Arthur J. Gallagher & Co. during the 4th quarter worth approximately $28,000. New Age Alpha Advisors LLC increased its stake in shares of Arthur J. Gallagher & Co. by 81.7% during the 4th quarter. New Age Alpha Advisors LLC now owns 109 shares of the financial services provider's stock worth $31,000 after purchasing an additional 49 shares in the last quarter. Johnson Financial Group Inc. increased its stake in shares of Arthur J. Gallagher & Co. by 205.4% during the 4th quarter. Johnson Financial Group Inc. now owns 113 shares of the financial services provider's stock worth $34,000 after purchasing an additional 76 shares in the last quarter. Parvin Asset Management LLC purchased a new position in shares of Arthur J. Gallagher & Co. during the 4th quarter worth approximately $35,000. Finally, OFI Invest Asset Management purchased a new position in shares of Arthur J. Gallagher & Co. during the 4th quarter worth approximately $42,000. 85.53% of the stock is currently owned by institutional investors and hedge funds.

Arthur J. Gallagher & Co. Trading Down 1.2%

Shares of NYSE AJG traded down $3.77 during trading on Friday, hitting $316.38. 1,038,988 shares of the company traded hands, compared to its average volume of 1,341,506. Arthur J. Gallagher & Co. has a 1 year low of $251.42 and a 1 year high of $351.23. The company has a 50-day moving average price of $331.40 and a 200-day moving average price of $317.18. The firm has a market capitalization of $81.02 billion, a P/E ratio of 48.52 and a beta of 0.74. The company has a quick ratio of 1.51, a current ratio of 1.51 and a debt-to-equity ratio of 0.63.

Arthur J. Gallagher & Co. (NYSE:AJG - Get Free Report) last announced its quarterly earnings data on Thursday, May 1st. The financial services provider reported $3.67 earnings per share (EPS) for the quarter, beating the consensus estimate 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 company had revenue of $3.69 billion during the quarter, compared to analysts' expectations of $3.85 billion. During the same period in the previous year, the company earned $3.45 EPS. The business's quarterly revenue was up 14.5% compared to the same quarter last year. On average, equities 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 will be paid on Friday, June 20th. Stockholders of record on Friday, June 6th will be paid a dividend of $0.65 per share. The ex-dividend date is Friday, June 6th. This represents a $2.60 annualized dividend and a dividend yield of 0.82%. Arthur J. Gallagher & Co.'s dividend payout ratio is presently 37.63%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on AJG. Wells Fargo & Company dropped their price objective 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. Jefferies Financial Group dropped their price objective 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. Keefe, Bruyette & Woods raised their price objective 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. Barclays lifted their target price 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, Redburn Atlantic initiated 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 target price for the company. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and five have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Arthur J. Gallagher & Co. presently has an average rating of "Hold" and a consensus target price of $319.29.

Insider Buying and Selling

In other news, VP Scott R. Hudson sold 7,510 shares of the company's stock in a transaction on Friday, March 21st. The shares were sold at an average price of $333.59, for a total value of $2,505,260.90. Following the completion of the transaction, the vice president now directly owns 90,020 shares in the company, valued at approximately $30,029,771.80. This represents a 7.70% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 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 now directly owns 45,323 shares in the company, 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. In the last three months, insiders sold 32,510 shares of company stock valued at $11,033,341. Company insiders own 1.30% of the company's stock.

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.