Arthur J. Gallagher & Co. $AJG Shares Sold by SG Americas Securities LLC

SG Americas Securities LLC lessened its stake in Arthur J. Gallagher & Co. (NYSE:AJG) by 93.6% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 6,590 shares of the financial services provider’s stock after selling 96,554 shares during the period. SG Americas Securities LLC’s holdings in Arthur J. Gallagher & Co. were worth $2,041,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. J.Safra Asset Management Corp increased its stake in Arthur J. Gallagher & Co. by 209.1% during the second quarter. J.Safra Asset Management Corp now owns 102 shares of the financial services provider’s stock valued at $32,000 after purchasing an additional 69 shares during the last quarter. Rakuten Securities Inc. boosted its holdings in shares of Arthur J. Gallagher & Co. by 650.0% in the 2nd quarter. Rakuten Securities Inc. now owns 105 shares of the financial services provider’s stock valued at $34,000 after buying an additional 91 shares during the period. Steph & Co. bought a new stake in shares of Arthur J. Gallagher & Co. during the 2nd quarter valued at about $40,000. Central Pacific Bank Trust Division raised its stake in Arthur J. Gallagher & Co. by 40.6% during the third quarter. Central Pacific Bank Trust Division now owns 135 shares of the financial services provider’s stock worth $42,000 after acquiring an additional 39 shares during the period. Finally, Salomon & Ludwin LLC bought a new position in Arthur J. Gallagher & Co. in the second quarter worth about $45,000. 85.53% of the stock is currently owned by institutional investors.

Arthur J. Gallagher & Co. Stock Performance

Shares of AJG opened at $256.91 on Thursday. The firm has a 50-day moving average price of $253.58 and a 200 day moving average price of $281.75. The firm has a market capitalization of $65.98 billion, a PE ratio of 38.40 and a beta of 0.67. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.52. Arthur J. Gallagher & Co. has a 52-week low of $236.34 and a 52-week high of $351.23.

Arthur J. Gallagher & Co. (NYSE:AJG) last released its quarterly earnings results on Thursday, October 30th. The financial services provider reported $2.32 EPS for the quarter, missing analysts’ consensus estimates of $2.51 by ($0.19). The company had revenue of $3.33 billion for the quarter, compared to the consensus estimate of $3.34 billion. Arthur J. Gallagher & Co. had a return on equity of 11.98% and a net margin of 13.58%.The firm’s quarterly revenue was up 20.2% compared to the same quarter last year. During the same quarter last year, the firm posted $2.26 earnings per share. On average, sell-side analysts anticipate 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, December 19th. Shareholders of record on Friday, December 5th were given a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date was Friday, December 5th. Arthur J. Gallagher & Co.’s dividend payout ratio is 38.86%.

Insider Activity

In related news, CAO Richard C. Cary sold 6,000 shares of the firm’s stock in a transaction dated Tuesday, November 18th. The stock was sold at an average price of $261.00, for a total transaction of $1,566,000.00. Following the completion of the transaction, the chief accounting officer owned 50,668 shares of the company’s stock, valued at $13,224,348. This trade represents a 10.59% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Douglas K. Howell sold 5,000 shares of Arthur J. Gallagher & Co. stock in a transaction dated Monday, December 22nd. The stock was sold at an average price of $258.05, for a total value of $1,290,250.00. Following the transaction, the chief financial officer directly owned 95,777 shares in the company, valued at approximately $24,715,254.85. The trade was a 4.96% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 32,100 shares of company stock worth $8,243,865 in the last quarter. 1.60% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the company. Wolfe Research set a $289.00 target price on Arthur J. Gallagher & Co. and gave the company an “outperform” rating in a report on Wednesday, December 17th. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $292.00 target price on shares of Arthur J. Gallagher & Co. in a research report on Wednesday, January 7th. Cowen reiterated a “buy” rating on shares of Arthur J. Gallagher & Co. in a research note on Friday, October 31st. Morgan Stanley set a $300.00 price target on shares of Arthur J. Gallagher & Co. in a research report on Friday, December 19th. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Arthur J. Gallagher & Co. in a research report on Monday, December 29th. Seven research analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $290.50.

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.