Townsquare Capital LLC Grows Stake in Arthur J. Gallagher & Co. (NYSE:AJG)

Key Points

• Townsquare Capital LLC increased its stake in Arthur J. Gallagher & Co. by 20.8% during the first quarter, now holding 11,104 shares valued at approximately $3.83 million.
• Recent analyst ratings for AJG include a hold rating with a consensus price target of $329.15, reflecting mixed expectations from multiple analysts.
• Arthur J. Gallagher & Co. announced a quarterly dividend of $0.65 per share, leading to an annualized dividend yield of 0.9% for stockholders of record.

Townsquare Capital LLC lifted its holdings in Arthur J. Gallagher & Co. (NYSE:AJG - Free Report) by 20.8% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 11,104 shares of the financial services provider's stock after acquiring an additional 1,910 shares during the period. Townsquare Capital LLC's holdings in Arthur J. Gallagher & Co. were worth $3,833,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in AJG. HWG Holdings LP bought a new position in shares of Arthur J. Gallagher & Co. in the first quarter worth about $25,000. Johnson Financial Group Inc. boosted its stake in shares of Arthur J. Gallagher & Co. by 205.4% in the fourth quarter. Johnson Financial Group Inc. now owns 113 shares of the financial services provider's stock worth $34,000 after acquiring an additional 76 shares during the period. Parvin Asset Management LLC bought a new position in shares of Arthur J. Gallagher & Co. in the fourth quarter worth about $35,000. Centennial Bank AR bought a new position in shares of Arthur J. Gallagher & Co. in the first quarter worth about $38,000. Finally, Golden State Wealth Management LLC boosted its stake in 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.

Analysts Set New Price Targets

A number of equities analysts recently commented on AJG shares. Wall Street Zen lowered Arthur J. Gallagher & Co. from a "hold" rating to a "sell" rating in a research note on Saturday, August 9th. Erste Group Bank reissued a "hold" rating on shares of Arthur J. Gallagher & Co. in a research note on Wednesday, July 23rd. UBS Group dropped their price target on Arthur J. Gallagher & Co. from $345.00 to $322.00 and set a "neutral" rating for the company in a research note on Monday, August 4th. Keefe, Bruyette & Woods increased their price target on Arthur J. Gallagher & Co. from $326.00 to $330.00 and gave the company a "market perform" rating in a research note on Wednesday, July 9th. Finally, Barclays dropped their price target on Arthur J. Gallagher & Co. from $346.00 to $327.00 and set an "equal weight" rating for the company in a research note on Monday, July 7th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $331.07.

Insider Activity at Arthur J. Gallagher & Co.

In other Arthur J. Gallagher & Co. news, insider Susan E. Pietrucha sold 13,500 shares of the firm's stock in a transaction on Monday, May 19th. The stock was sold at an average price of $344.13, for a total transaction of $4,645,755.00. Following the transaction, the insider directly owned 11,941 shares in the company, valued at $4,109,256.33. This trade represents a 53.06% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Scott R. Hudson sold 10,500 shares of the firm's stock in a transaction on Wednesday, May 21st. The stock was sold at an average price of $337.17, for a total value of $3,540,285.00. Following the transaction, the vice president owned 91,175 shares in the company, valued at $30,741,474.75. The trade was a 10.33% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.60% of the company's stock.

Arthur J. Gallagher & Co. Trading Up 0.2%

Shares of NYSE:AJG traded up $0.53 during trading on Friday, hitting $293.94. The company had a trading volume of 258,063 shares, compared to its average volume of 1,544,002. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.36 and a quick ratio of 1.36. The company has a fifty day simple moving average of $308.74 and a two-hundred day simple moving average of $322.39. Arthur J. Gallagher & Co. has a one year low of $274.25 and a one year high of $351.23. The stock has a market cap of $75.37 billion, a price-to-earnings ratio of 41.74 and a beta of 0.68.

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

Arthur J. Gallagher & Co. Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 19th. Stockholders of record on Friday, September 5th will be issued a $0.65 dividend. This represents a $2.60 annualized dividend and a dividend yield of 0.9%. The ex-dividend date is Friday, September 5th. Arthur J. Gallagher & Co.'s dividend payout ratio is presently 36.93%.

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.