Swiss National Bank Sells 35,800 Shares of Arthur J. Gallagher & Co. $AJG

Key Points

• Swiss National Bank cut its stake in Arthur J. Gallagher & Co. by 4.6% in Q3, selling 35,800 shares and now holds 738,300 shares (~0.29%) worth about $228.68 million.
• Company insiders sold a total of 32,650 shares (~$8.14 million) over the last three months, including General Counsel Walter D. Bay (15,850 shares at $255) and VP Christopher E. Mead (4,000 shares at $227.12), leaving insiders with 1.30% ownership.
• Arthur J. Gallagher beat quarterly EPS estimates with $2.38 per share, reported revenue up 33.9% year‑over‑year, raised its quarterly dividend to $0.70 (annual $2.80, yield 1.3%), and carries a $56.02 billion market cap with an average analyst rating of "Hold" (avg. target $281.76).

Swiss National Bank decreased its position in Arthur J. Gallagher & Co. (NYSE:AJG - Free Report) by 4.6% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 738,300 shares of the financial services provider's stock after selling 35,800 shares during the quarter. Swiss National Bank owned approximately 0.29% of Arthur J. Gallagher & Co. worth $228,681,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Savant Capital LLC raised its position in Arthur J. Gallagher & Co. by 5.0% during the 2nd quarter. Savant Capital LLC now owns 9,468 shares of the financial services provider's stock valued at $3,031,000 after purchasing an additional 454 shares during the last quarter. Wedbush Securities Inc. grew its position in shares of Arthur J. Gallagher & Co. by 5.1% in the 2nd quarter. Wedbush Securities Inc. now owns 4,580 shares of the financial services provider's stock worth $1,466,000 after buying an additional 223 shares during the last quarter. AE Wealth Management LLC increased its stake in shares of Arthur J. Gallagher & Co. by 0.8% during the second quarter. AE Wealth Management LLC now owns 6,910 shares of the financial services provider's stock valued at $2,212,000 after buying an additional 58 shares during the period. Parkside Financial Bank & Trust raised its holdings in shares of Arthur J. Gallagher & Co. by 6.5% during the second quarter. Parkside Financial Bank & Trust now owns 570 shares of the financial services provider's stock valued at $182,000 after acquiring an additional 35 shares in the last quarter. Finally, Midwest Trust Co purchased a new stake in Arthur J. Gallagher & Co. in the second quarter worth $941,000. 85.53% of the stock is currently owned by hedge funds and other institutional investors.

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

In other news, General Counsel Walter D. Bay sold 15,850 shares of Arthur J. Gallagher & Co. stock in a transaction that occurred on Friday, December 19th. The shares were sold at an average price of $255.00, for a total transaction of $4,041,750.00. Following the completion of the transaction, the general counsel directly owned 79,549 shares in the company, valued at approximately $20,284,995. This trade represents a 16.61% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Christopher E. Mead sold 4,000 shares of the business's stock in a transaction that occurred on Thursday, March 5th. The stock was sold at an average price of $227.12, for a total value of $908,480.00. Following the completion of the sale, the vice president directly owned 19,306 shares in the company, valued at approximately $4,384,778.72. This represents a 17.16% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 32,650 shares of company stock worth $8,137,686 over the last three months. Company insiders own 1.30% of the company's stock.

Arthur J. Gallagher & Co. Stock Performance

Shares of Arthur J. Gallagher & Co. stock opened at $217.87 on Tuesday. Arthur J. Gallagher & Co. has a 12 month low of $195.00 and a 12 month high of $351.23. The firm has a market capitalization of $56.02 billion, a P/E ratio of 35.43, a P/E/G ratio of 1.11 and a beta of 0.67. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 0.52. The business has a fifty day simple moving average of $238.98 and a two-hundred day simple moving average of $262.54.

Arthur J. Gallagher & Co. (NYSE:AJG - Get Free Report) last released its earnings results on Thursday, January 29th. The financial services provider reported $2.38 earnings per share for the quarter, topping analysts' consensus estimates of $2.35 by $0.03. The firm had revenue of $3.57 billion for the quarter, compared to the consensus estimate of $3.61 billion. Arthur J. Gallagher & Co. had a net margin of 11.84% and a return on equity of 12.13%. The company's revenue was up 33.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.12 EPS. On average, equities analysts forecast that Arthur J. Gallagher & Co. will post 11.54 earnings per share for the current fiscal year.

Arthur J. Gallagher & Co. Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 20th. Shareholders of record on Friday, March 6th will be issued a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 1.3%. This is a boost from Arthur J. Gallagher & Co.'s previous quarterly dividend of $0.65. The ex-dividend date is Friday, March 6th. Arthur J. Gallagher & Co.'s dividend payout ratio is currently 45.53%.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on AJG shares. Wolfe Research set a $289.00 price objective on shares of Arthur J. Gallagher & Co. and gave the company an "outperform" rating in a research report on Wednesday, December 17th. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of Arthur J. Gallagher & Co. in a research report on Monday, December 29th. Jefferies Financial Group cut their target price on shares of Arthur J. Gallagher & Co. from $283.00 to $280.00 and set a "hold" rating on the stock in a research note on Monday, February 2nd. Evercore decreased their price target on shares of Arthur J. Gallagher & Co. from $353.00 to $334.00 and set an "outperform" rating for the company in a research note on Wednesday, December 17th. Finally, Mizuho upgraded shares of Arthur J. Gallagher & Co. from a "neutral" rating to an "outperform" rating and set a $260.00 price objective for the company in a report on Friday, February 27th. Seven equities research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $281.76.

About Arthur J. Gallagher & Co.

Arthur J. Gallagher & Co is a global insurance brokerage and risk management firm headquartered in Rolling Meadows, Illinois. Founded in 1927 by Arthur J. Gallagher, the company has grown from a regional broker into an international professional services organization that arranges insurance, provides consulting and designs risk-transfer solutions for commercial, industrial, public sector and individual clients.

The company's core activities include property and casualty insurance brokerage, employee benefits consulting and administration, and a range of risk management services.

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