Strategy Asset Managers LLC Sells 1,039 Shares of Arthur J. Gallagher & Co. (NYSE:AJG)

Key Points

• Strategy Asset Managers LLC has reduced its holdings in Arthur J. Gallagher & Co. by 3.4%, currently owning 29,263 shares valued at $10.10 million, making it the firm's 10th largest position.
• Arthur J. Gallagher & Co. reported a net margin of 14.54% for the last quarter, with a revenue of $3.18 billion, indicating a year-over-year growth of 16.0%.
• The company has announced a $0.65 quarterly dividend, representing an annualized yield of 0.9%, with the payment set to occur on September 19th.

Strategy Asset Managers LLC trimmed its stake in shares of Arthur J. Gallagher & Co. (NYSE:AJG - Free Report) by 3.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 29,263 shares of the financial services provider's stock after selling 1,039 shares during the quarter. Arthur J. Gallagher & Co. makes up 2.1% of Strategy Asset Managers LLC's portfolio, making the stock its 10th biggest position. Strategy Asset Managers LLC's holdings in Arthur J. Gallagher & Co. were worth $10,103,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently modified their holdings of AJG. HWG Holdings LP acquired a new position in Arthur J. Gallagher & Co. during the 1st quarter valued at approximately $25,000. Centennial Bank AR bought a new position in shares of Arthur J. Gallagher & Co. during the first quarter worth about $38,000. Motco lifted its position in Arthur J. Gallagher & Co. by 700.0% in the 1st quarter. Motco now owns 112 shares of the financial services provider's stock valued at $39,000 after purchasing an additional 98 shares during the last quarter. Johnson Financial Group Inc. grew its position in Arthur J. Gallagher & Co. by 205.4% in 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 during the last quarter. Finally, Golden State Wealth Management LLC raised its holdings in shares of Arthur J. Gallagher & Co. by 2,750.0% during the first quarter. Golden State Wealth Management LLC now owns 114 shares of the financial services provider's stock valued at $39,000 after buying an additional 110 shares during the last quarter. Institutional investors own 85.53% of the company's stock.

Arthur J. Gallagher & Co. Price Performance

Shares of NYSE AJG traded up $3.65 during mid-day trading on Thursday, reaching $289.91. The company had a trading volume of 3,115,967 shares, compared to its average volume of 1,499,937. The company has a 50-day moving average price of $314.73 and a two-hundred day moving average price of $322.47. The stock has a market cap of $74.33 billion, a PE ratio of 41.18 and a beta of 0.68. The company has a current ratio of 1.36, a quick ratio of 1.44 and a debt-to-equity ratio of 0.52. Arthur J. Gallagher & Co. has a 1-year low of $274.25 and a 1-year high of $351.23.

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 the consensus estimate of $2.36 by ($0.03). The company had revenue of $3.18 billion for the quarter, compared to analyst estimates 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 quarterly revenue was up 16.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.29 EPS. On average, equities 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 announced a quarterly dividend, which will be paid on Friday, September 19th. Shareholders of record on Friday, September 5th will be paid a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a yield of 0.9%. The ex-dividend date of this dividend is Friday, September 5th. Arthur J. Gallagher & Co.'s payout ratio is 36.93%.

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

In other Arthur J. Gallagher & Co. news, Director David S. Johnson sold 1,000 shares of the firm's stock in a transaction dated 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 directly owned 45,323 shares in the company, valued at approximately $15,502,278.92. This trade represents a 2.16% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Susan E. Pietrucha sold 13,500 shares of Arthur J. Gallagher & Co. stock in a transaction dated 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 transaction, the insider directly 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 disclosure for this sale can be found here. Insiders have sold a total of 25,000 shares of company stock valued at $8,528,080 in the last three months. 1.60% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on AJG shares. Jefferies Financial Group decreased their price objective on Arthur J. Gallagher & Co. from $266.00 to $265.00 and set a "hold" rating for the company in a report on Friday, April 11th. Erste Group Bank reissued a "hold" rating on shares of Arthur J. Gallagher & Co. in a report on Wednesday, July 23rd. UBS Group reduced their price objective on shares of Arthur J. Gallagher & Co. from $345.00 to $322.00 and set a "neutral" rating for the company in a report on Monday. Wells Fargo & Company raised their target price on shares of Arthur J. Gallagher & Co. from $371.00 to $373.00 and gave the company an "overweight" rating in a research note on Friday, August 1st. Finally, Keefe, Bruyette & Woods increased their price objective on shares of Arthur J. Gallagher & Co. from $326.00 to $330.00 and gave the company a "market perform" rating in a report on Wednesday, July 9th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, Arthur J. Gallagher & Co. presently has a consensus rating of "Hold" and an average price target of $329.15.

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.