Arthur J. Gallagher & Co. $AJG Shares Sold by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans lowered its position in Arthur J. Gallagher & Co. (NYSE:AJG) by 59.5% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 20,702 shares of the financial services provider’s stock after selling 30,465 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Arthur J. Gallagher & Co. were worth $5,373,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Caprock Group LLC acquired a new stake in shares of Arthur J. Gallagher & Co. in the 3rd quarter valued at about $9,877,000. JPMorgan Chase & Co. raised its stake in shares of Arthur J. Gallagher & Co. by 19.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 20,338,533 shares of the financial services provider’s stock valued at $6,299,674,000 after purchasing an additional 3,330,205 shares in the last quarter. Banco Bilbao Vizcaya Argentaria S.A. raised its stake in shares of Arthur J. Gallagher & Co. by 10.2% in the 3rd quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 65,889 shares of the financial services provider’s stock valued at $20,398,000 after purchasing an additional 6,090 shares in the last quarter. Cincinnati Financial Corp acquired a new stake in shares of Arthur J. Gallagher & Co. in the 3rd quarter valued at about $42,824,000. Finally, Factory Mutual Insurance Co. raised its stake in shares of Arthur J. Gallagher & Co. by 241.4% in the 3rd quarter. Factory Mutual Insurance Co. now owns 49,500 shares of the financial services provider’s stock valued at $15,332,000 after purchasing an additional 35,000 shares in the last quarter. Institutional investors and hedge funds own 85.53% of the company’s stock.

Insider Activity

In other Arthur J. Gallagher & Co. news, VP Christopher E. Mead sold 4,000 shares of the company’s stock in a transaction dated Thursday, March 5th. The shares were sold at an average price of $227.12, for a total value of $908,480.00. Following the completion of the transaction, the vice president owned 19,306 shares in the company, valued at approximately $4,384,778.72. This represents a 17.16% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Scott R. Hudson sold 3,800 shares of the company’s stock in a transaction dated Friday, March 6th. The stock was sold at an average price of $227.57, for a total transaction of $864,766.00. Following the completion of the transaction, the vice president owned 85,920 shares of the company’s stock, valued at approximately $19,552,814.40. This trade represents a 4.24% decrease in their position. The SEC filing for this sale provides additional information. 1.40% of the stock is currently owned by corporate insiders.

Arthur J. Gallagher & Co. Price Performance

AJG opened at $207.53 on Friday. The firm has a market cap of $53.31 billion, a price-to-earnings ratio of 33.58, a price-to-earnings-growth ratio of 1.03 and a beta of 0.54. Arthur J. Gallagher & Co. has a fifty-two week low of $190.75 and a fifty-two week high of $351.23. The company’s 50-day moving average price is $211.74 and its 200 day moving average price is $232.68. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.51.

Arthur J. Gallagher & Co. (NYSE:AJG) last released its quarterly earnings data on Thursday, April 30th. The financial services provider reported $4.47 earnings per share for the quarter, topping the consensus estimate of $4.43 by $0.04. Arthur J. Gallagher & Co. had a net margin of 10.76% and a return on equity of 12.83%. The firm had revenue of $4.71 billion for the quarter, compared to analyst estimates of $4.73 billion. During the same quarter in the prior year, the business earned $3.67 earnings per share. Arthur J. Gallagher & Co.’s quarterly revenue was up 29.0% on a year-over-year basis. As a group, sell-side analysts expect that Arthur J. Gallagher & Co. will post 13.22 earnings per share for the current year.

Arthur J. Gallagher & Co. Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, June 19th. Shareholders of record on Friday, June 5th will be given a $0.70 dividend. The ex-dividend date is Friday, June 5th. This represents a $2.80 annualized dividend and a yield of 1.3%. Arthur J. Gallagher & Co.’s dividend payout ratio is 45.31%.

Wall Street Analyst Weigh In

AJG has been the topic of a number of recent analyst reports. Wall Street Zen upgraded shares of Arthur J. Gallagher & Co. from a “sell” rating to a “hold” rating in a research note on Saturday, February 21st. Morgan Stanley cut their target price on shares of Arthur J. Gallagher & Co. from $265.00 to $240.00 and set an “overweight” rating on the stock in a research note on Thursday. Barclays upped their target price on shares of Arthur J. Gallagher & Co. from $262.00 to $275.00 and gave the company an “overweight” rating in a research note on Wednesday, April 8th. Citigroup upgraded shares of Arthur J. Gallagher & Co. from a “neutral” rating to a “buy” rating and cut their target price for the company from $280.00 to $250.00 in a research note on Wednesday, May 6th. Finally, Cantor Fitzgerald reiterated a “neutral” rating on shares of Arthur J. Gallagher & Co. in a research note on Friday, January 30th. Eleven analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. Based on data from MarketBeat, Arthur J. Gallagher & Co. has a consensus rating of “Moderate Buy” and a consensus price target of $264.00.

Arthur J. Gallagher & Co. Company Profile

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.