Arthur J. Gallagher & Co. (NYSE:AJG) Shares Bought by Wendell David Associates Inc.

Wendell David Associates Inc. increased its position in shares of Arthur J. Gallagher & Co. (NYSE:AJG - Free Report) by 28.4% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 14,975 shares of the financial services provider's stock after purchasing an additional 3,308 shares during the quarter. Wendell David Associates Inc.'s holdings in Arthur J. Gallagher & Co. were worth $5,170,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. Allred Capital Management LLC raised its holdings in shares of Arthur J. Gallagher & Co. by 1.0% during the 4th quarter. Allred Capital Management LLC now owns 3,380 shares of the financial services provider's stock worth $960,000 after acquiring an additional 34 shares during the period. City Holding Co. raised its stake in Arthur J. Gallagher & Co. by 3.1% during the first quarter. City Holding Co. now owns 1,140 shares of the financial services provider's stock worth $394,000 after purchasing an additional 34 shares during the period. CVA Family Office LLC boosted its holdings in Arthur J. Gallagher & Co. by 34.3% in the 1st quarter. CVA Family Office LLC now owns 133 shares of the financial services provider's stock valued at $46,000 after purchasing an additional 34 shares during the last quarter. HBK Sorce Advisory LLC grew its stake in shares of Arthur J. Gallagher & Co. by 3.2% in the 4th quarter. HBK Sorce Advisory LLC now owns 1,173 shares of the financial services provider's stock valued at $333,000 after buying an additional 36 shares during the period. Finally, RFG Advisory LLC raised its position in shares of Arthur J. Gallagher & Co. by 0.5% during the 1st quarter. RFG Advisory LLC now owns 7,195 shares of the financial services provider's stock valued at $2,484,000 after buying an additional 36 shares during the period. 85.53% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, insider Susan E. Pietrucha sold 13,500 shares of the business's stock in a transaction that occurred 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 completion of the sale, the insider now owns 11,941 shares in the company, valued at $4,109,256.33. The trade was a 53.06% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Scott R. Hudson sold 10,500 shares of the stock in a transaction that occurred on Wednesday, May 21st. The shares were sold at an average price of $337.17, for a total transaction of $3,540,285.00. Following the completion of the transaction, the vice president now owns 91,175 shares in the company, valued at $30,741,474.75. This represents a 10.33% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 25,000 shares of company stock worth $8,528,080. Company insiders own 1.60% of the company's stock.

Arthur J. Gallagher & Co. Stock Up 1.2%

AJG stock traded up $3.71 during midday trading on Friday, hitting $320.84. The company's stock had a trading volume of 2,537,121 shares, compared to its average volume of 1,349,198. The firm has a 50-day simple moving average of $331.16 and a 200-day simple moving average of $317.32. The firm has a market capitalization of $82.17 billion, a P/E ratio of 46.43 and a beta of 0.74. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 0.56. Arthur J. Gallagher & Co. has a 52-week low of $251.42 and a 52-week high of $351.23.

Arthur J. Gallagher & Co. (NYSE:AJG - Get Free Report) last released its earnings results on Thursday, May 1st. The financial services provider reported $3.67 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.57 by $0.10. Arthur J. Gallagher & Co. had a return on equity of 14.83% and a net margin of 14.39%. The firm had revenue of $3.69 billion during the quarter, compared to analyst estimates of $3.85 billion. During the same period last year, the business posted $3.45 earnings per share. Arthur J. Gallagher & Co.'s revenue was up 14.5% compared to the same quarter last year. As a group, equities analysts forecast that Arthur J. Gallagher & Co. will post 11.54 EPS for the current year.

Arthur J. Gallagher & Co. Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 20th. Stockholders of record on Friday, June 6th will be given a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a dividend yield of 0.81%. The ex-dividend date of this dividend is Friday, June 6th. Arthur J. Gallagher & Co.'s dividend payout ratio is presently 37.63%.

Analyst Ratings Changes

Several equities research analysts have issued reports on the company. Barclays raised their target price on Arthur J. Gallagher & Co. from $308.00 to $346.00 and gave the stock an "equal weight" rating in a research note on Friday, April 11th. Keefe, Bruyette & Woods raised their price objective on Arthur J. Gallagher & Co. from $315.00 to $326.00 and gave the stock a "market perform" rating in a research report on Thursday, June 5th. Wells Fargo & Company reduced their price objective on shares of Arthur J. Gallagher & Co. from $372.00 to $371.00 and set an "overweight" rating on the stock in a report on Monday, June 9th. Jefferies Financial Group lowered their target price on shares of Arthur J. Gallagher & Co. from $266.00 to $265.00 and set a "hold" rating for the company in a research note on Friday, April 11th. Finally, Redburn Atlantic initiated coverage on shares of Arthur J. Gallagher & Co. in a research note on Tuesday, March 25th. They issued a "neutral" rating and a $352.00 price target on the stock. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $319.29.

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.