Vaughan Nelson Investment Management L.P. Lowers Stock Holdings in Arthur J. Gallagher & Co. $AJG

Key Points

• Vaughan Nelson Investment Management L.P. significantly reduced its stake in Arthur J. Gallagher & Co. by 85.4%, holding 12,395 shares after selling 72,530 shares in the second quarter.
• Despite the share reductions from Vaughan Nelson, several investors increased their holdings, including New Century Financial Group LLC and Mirae Asset Global Investments, signaling ongoing interest in the company.
• Arthur J. Gallagher & Co. recently announced a quarterly dividend of $0.65 per share, representing an annualized dividend of $2.60, with a payout ratio of 36.93%.

Vaughan Nelson Investment Management L.P. lowered its stake in Arthur J. Gallagher & Co. (NYSE:AJG - Free Report) by 85.4% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 12,395 shares of the financial services provider's stock after selling 72,530 shares during the period. Vaughan Nelson Investment Management L.P.'s holdings in Arthur J. Gallagher & Co. were worth $3,968,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the stock. New Century Financial Group LLC increased its holdings in shares of Arthur J. Gallagher & Co. by 14.0% in the second quarter. New Century Financial Group LLC now owns 1,308 shares of the financial services provider's stock worth $419,000 after buying an additional 161 shares during the period. Ameritas Advisory Services LLC increased its holdings in shares of Arthur J. Gallagher & Co. by 23.2% in the second quarter. Ameritas Advisory Services LLC now owns 743 shares of the financial services provider's stock worth $238,000 after buying an additional 140 shares during the period. Hilltop National Bank purchased a new position in shares of Arthur J. Gallagher & Co. in the second quarter worth about $59,000. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Arthur J. Gallagher & Co. by 15.7% in the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 57,342 shares of the financial services provider's stock worth $18,356,000 after buying an additional 7,796 shares during the period. Finally, ASR Vermogensbeheer N.V. increased its holdings in shares of Arthur J. Gallagher & Co. by 33.5% in the second quarter. ASR Vermogensbeheer N.V. now owns 118,559 shares of the financial services provider's stock worth $37,951,000 after buying an additional 29,752 shares during the period. Hedge funds and other institutional investors own 85.53% of the company's stock.

Arthur J. Gallagher & Co. Stock Up 0.7%

AJG stock opened at $310.95 on Friday. Arthur J. Gallagher & Co. has a fifty-two week low of $275.56 and a fifty-two week high of $351.23. The business's 50 day moving average price is $297.60 and its two-hundred day moving average price is $316.67. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.36 and a current ratio of 1.36. The company has a market capitalization of $79.73 billion, a price-to-earnings ratio of 44.17 and a beta of 0.73.

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

Insider Buying and Selling

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

Wall Street Analyst Weigh In

AJG has been the topic of a number of research analyst reports. Wall Street Zen upgraded Arthur J. Gallagher & Co. from a "sell" rating to a "hold" rating in a report on Friday, September 5th. Cantor Fitzgerald upgraded Arthur J. Gallagher & Co. to a "strong-buy" rating in a report on Wednesday, August 13th. Citigroup initiated coverage on Arthur J. Gallagher & Co. in a report on Wednesday, August 13th. They set a "neutral" rating and a $317.00 price target on the stock. Wells Fargo & Company reduced their price target on Arthur J. Gallagher & Co. from $369.00 to $365.00 and set an "overweight" rating on the stock in a report on Friday, September 19th. Finally, The Goldman Sachs Group initiated coverage on Arthur J. Gallagher & Co. in a report on Wednesday, September 3rd. They set a "buy" rating and a $344.00 price target on the stock. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $328.80.

Arthur J. Gallagher & Co. 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.