Triasima Portfolio Management inc. Reduces Stock Holdings in Arthur J. Gallagher & Co. $AJG

Key Points

• Triasima Portfolio Management Inc. reduced its stake in Arthur J. Gallagher & Co. by 7.0%, holding 15,077 shares valued at approximately $4.83 million after selling 1,142 shares in the second quarter.
• The company reported $2.33 EPS for the last quarter, missing estimates by $0.03, and generated revenue of $3.18 billion, slightly below analyst expectations.
• Arthur J. Gallagher & Co. recently announced a quarterly dividend of $0.65 per share, translating to an annualized dividend of $2.60 and a yield of 0.8%.

Triasima Portfolio Management inc. reduced its holdings in Arthur J. Gallagher & Co. (NYSE:AJG - Free Report) by 7.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 15,077 shares of the financial services provider's stock after selling 1,142 shares during the period. Triasima Portfolio Management inc.'s holdings in Arthur J. Gallagher & Co. were worth $4,826,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in AJG. Two Sigma Investments LP purchased a new stake in shares of Arthur J. Gallagher & Co. in the 4th quarter valued at $382,000. Portside Wealth Group LLC lifted its stake in shares of Arthur J. Gallagher & Co. by 24.8% in the 1st quarter. Portside Wealth Group LLC now owns 1,162 shares of the financial services provider's stock valued at $401,000 after purchasing an additional 231 shares during the period. Daymark Wealth Partners LLC acquired a new position in shares of Arthur J. Gallagher & Co. in the 1st quarter valued at $257,000. City Holding Co. lifted its stake in shares of Arthur J. Gallagher & Co. by 3.1% in the 1st quarter. City Holding Co. now owns 1,140 shares of the financial services provider's stock valued at $394,000 after purchasing an additional 34 shares during the period. Finally, Yousif Capital Management LLC lifted its stake in shares of Arthur J. Gallagher & Co. by 1.6% in the 1st quarter. Yousif Capital Management LLC now owns 33,523 shares of the financial services provider's stock valued at $11,573,000 after purchasing an additional 527 shares during the period. 85.53% of the stock is owned by hedge funds and other institutional investors.

Arthur J. Gallagher & Co. Stock Performance

NYSE:AJG opened at $309.43 on Wednesday. The company has a fifty day moving average of $298.03 and a two-hundred day moving average of $316.34. The stock has a market capitalization of $79.34 billion, a PE ratio of 43.95 and a beta of 0.73. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.36 and a current ratio of 1.36. Arthur J. Gallagher & Co. has a fifty-two week low of $275.56 and a fifty-two week high of $351.23.

Arthur J. Gallagher & Co. (NYSE:AJG - Get Free Report) last issued its earnings results on Thursday, July 31st. The financial services provider reported $2.33 EPS for the quarter, missing analysts' consensus estimates of $2.36 by ($0.03). The business had revenue of $3.18 billion during the quarter, compared to analyst estimates of $3.20 billion. Arthur J. Gallagher & Co. had a net margin of 14.54% and a return on equity of 13.17%. Arthur J. Gallagher & Co.'s quarterly revenue was up 16.0% on a year-over-year basis. During the same quarter last year, the company earned $2.29 earnings per share. As a group, research analysts forecast 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 announced a quarterly dividend, which was paid on Friday, September 19th. Stockholders of record on Friday, September 5th were given a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date was Friday, September 5th. Arthur J. Gallagher & Co.'s dividend payout ratio is 36.93%.

Insider Transactions at Arthur J. Gallagher & Co.

In other news, VP Scott R. Hudson sold 12,855 shares of the stock in a transaction dated 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 directly owned 85,920 shares in the company, valued at $25,569,792. This represents a 13.01% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Douglas K. Howell sold 8,000 shares of the stock in a transaction dated Monday, September 22nd. The shares were sold at an average price of $299.54, for a total transaction of $2,396,320.00. Following the completion of the sale, the chief financial officer owned 100,777 shares of the company's stock, valued at $30,186,742.58. This trade represents a 7.35% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 29,855 shares of company stock valued at $8,916,928 over the last quarter. Company insiders own 1.30% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the stock. Wall Street Zen upgraded shares of Arthur J. Gallagher & Co. from a "sell" rating to a "hold" rating in a research note on Friday, September 5th. Citigroup assumed coverage on shares of Arthur J. Gallagher & Co. in a research note on Wednesday, August 13th. They issued a "neutral" rating and a $317.00 target price for the company. Keefe, Bruyette & Woods boosted their target price on shares of Arthur J. Gallagher & Co. from $288.00 to $298.00 and gave the company a "market perform" rating in a research note on Friday, September 19th. Barclays reduced their price objective on shares of Arthur J. Gallagher & Co. from $346.00 to $327.00 and set an "equal weight" rating for the company in a research report on Monday, July 7th. Finally, Weiss Ratings restated a "buy (b-)" rating on shares of Arthur J. Gallagher & Co. in a research report on Saturday, September 27th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $328.80.

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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