Sonora Investment Management Group LLC Sells 8,291 Shares of Arthur J. Gallagher & Co. $AJG

Key Points

• Sonora Investment Management Group LLC reduced its holdings in Arthur J. Gallagher & Co. by 8.2%, selling 8,291 shares and owning 92,827 shares now, which is 2.2% of its portfolio.
• Arthur J. Gallagher & Co. reported earnings of $2.33 per share in the last quarter, slightly missing estimates, with revenue of $3.18 billion reflecting a 16% year-over-year increase.
• The company recently declared a quarterly dividend of $0.65 per share, resulting in an annualized payout of $2.60 and a dividend yield of 0.9%.

Sonora Investment Management Group LLC trimmed its holdings in shares of Arthur J. Gallagher & Co. (NYSE:AJG - Free Report) by 8.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 92,827 shares of the financial services provider's stock after selling 8,291 shares during the period. Arthur J. Gallagher & Co. comprises approximately 2.2% of Sonora Investment Management Group LLC's investment portfolio, making the stock its 12th largest holding. Sonora Investment Management Group LLC's holdings in Arthur J. Gallagher & Co. were worth $29,716,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the stock. CWA Asset Management Group LLC raised its position in Arthur J. Gallagher & Co. by 22.5% in the first quarter. CWA Asset Management Group LLC now owns 1,125 shares of the financial services provider's stock worth $388,000 after acquiring an additional 207 shares during the period. Two Sigma Investments LP bought a new stake in shares of Arthur J. Gallagher & Co. in the 4th quarter worth approximately $382,000. IFM Investors Pty Ltd lifted its stake in Arthur J. Gallagher & Co. by 5.7% in the first quarter. IFM Investors Pty Ltd now owns 43,953 shares of the financial services provider's stock valued at $15,174,000 after purchasing an additional 2,362 shares during the last quarter. Golden State Wealth Management LLC increased its position in Arthur J. Gallagher & Co. by 2,750.0% in the first quarter. Golden State Wealth Management LLC now owns 114 shares of the financial services provider's stock worth $39,000 after buying an additional 110 shares during the last quarter. Finally, Zurich Insurance Group Ltd FI bought a new stake in shares of Arthur J. Gallagher & Co. in the first quarter valued at $58,041,000. Institutional investors own 85.53% of the company's stock.

Arthur J. Gallagher & Co. Stock Up 0.3%

AJG opened at $304.09 on Friday. The business's fifty day simple moving average is $297.92 and its 200 day simple moving average is $317.33. Arthur J. Gallagher & Co. has a 52 week low of $275.56 and a 52 week high of $351.23. The company has a quick ratio of 1.36, a current ratio of 1.36 and a debt-to-equity ratio of 0.52. The stock has a market cap of $77.97 billion, a PE ratio of 43.19 and a beta of 0.72.

Arthur J. Gallagher & Co. (NYSE:AJG - Get Free Report) last posted its quarterly earnings data on Thursday, July 31st. The financial services provider reported $2.33 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.36 by ($0.03). The firm had revenue of $3.18 billion during the quarter, compared to analysts' expectations of $3.20 billion. Arthur J. Gallagher & Co. had a return on equity of 13.17% and a net margin of 14.54%.Arthur J. Gallagher & Co.'s revenue for the quarter was up 16.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.29 earnings per share. As a group, research analysts expect that Arthur J. Gallagher & Co. will post 11.54 earnings per share for the current fiscal year.

Arthur J. Gallagher & Co. Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 19th. Shareholders of record on Friday, September 5th were paid a dividend of $0.65 per share. The ex-dividend date of this dividend was Friday, September 5th. This represents a $2.60 annualized dividend and a dividend yield of 0.9%. Arthur J. Gallagher & Co.'s dividend payout ratio (DPR) is 36.93%.

Insider Buying and Selling

In other news, VP Scott R. Hudson sold 12,855 shares of the company's stock in a transaction on Monday, September 8th. The shares were sold at an average price of $297.60, for a total value of $3,825,648.00. Following the completion of the sale, the vice president owned 85,920 shares of the company's stock, valued at approximately $25,569,792. This represents a 13.01% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Douglas K. Howell sold 8,000 shares of Arthur J. Gallagher & Co. stock in a transaction on Monday, September 22nd. The stock was sold at an average price of $299.54, for a total transaction of $2,396,320.00. Following the completion of the transaction, the chief financial officer owned 100,777 shares in the company, valued at approximately $30,186,742.58. The trade was a 7.35% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 29,855 shares of company stock valued at $8,916,928. Company insiders own 1.60% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on AJG shares. Wall Street Zen raised Arthur J. Gallagher & Co. from a "sell" rating to a "hold" rating in a report on Friday, September 5th. Wells Fargo & Company cut their target price on shares of Arthur J. Gallagher & Co. from $369.00 to $365.00 and set an "overweight" rating for the company in a research report on Friday, September 19th. Piper Sandler upped their price target on shares of Arthur J. Gallagher & Co. from $352.00 to $372.00 and gave the company an "overweight" rating in a research note on Friday, August 1st. The Goldman Sachs Group initiated coverage on shares of Arthur J. Gallagher & Co. in a research note on Wednesday, September 3rd. They issued a "buy" rating and a $344.00 price objective for the company. Finally, Cantor Fitzgerald raised shares of Arthur J. Gallagher & Co. to a "strong-buy" rating in a report on Wednesday, August 13th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $330.93.

About Arthur J. Gallagher & Co.

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.

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