2,042 Shares of Arthur J. Gallagher & Co. $AJG Purchased by Wedbush Securities Inc.

Wedbush Securities Inc. bought a new position in Arthur J. Gallagher & Co. (NYSE:AJG) during the third quarter, Holdings Channel.com reports. The institutional investor bought 2,042 shares of the financial services provider’s stock, valued at approximately $466,000.

Other institutional investors have also bought and sold shares of the company. Sterling Capital Management LLC grew its position in shares of Arthur J. Gallagher & Co. by 158.3% in the third quarter. Sterling Capital Management LLC now owns 2,500 shares of the financial services provider’s stock valued at $583,000 after purchasing an additional 1,532 shares in the last quarter. Carderock Capital Management Inc. lifted its position in Arthur J. Gallagher & Co. by 28.3% during the third quarter. Carderock Capital Management Inc. now owns 20,947 shares of the financial services provider’s stock worth $4,778,000 after buying an additional 4,617 shares in the last quarter. Yousif Capital Management LLC lifted its position in Arthur J. Gallagher & Co. by 22.5% during the third quarter. Yousif Capital Management LLC now owns 30,296 shares of the financial services provider’s stock worth $7,457,000 after buying an additional 5,569 shares in the last quarter. Brookstone Capital Management boosted its stake in Arthur J. Gallagher & Co. by 55.7% during the third quarter. Brookstone Capital Management now owns 6,644 shares of the financial services provider’s stock worth $1,516,000 after buying an additional 2,378 shares during the last quarter. Finally, SBI Securities Co. Ltd. boosted its stake in Arthur J. Gallagher & Co. by 245.8% during the third quarter. SBI Securities Co. Ltd. now owns 166 shares of the financial services provider’s stock worth $38,000 after buying an additional 118 shares during the last quarter. 85.53% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Arthur J. Gallagher & Co.

In other Arthur J. Gallagher & Co. news, VP Christopher E. Mead sold 3,500 shares of the stock in a transaction that occurred on Wednesday, August 19th. The shares were sold at an average price of $257.02, for a total transaction of $899,570.00. Following the sale, the vice president directly owned 22,223 shares in the company, valued at $5,711,755.46. This represents a 13.61% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CAO Richard C. Cary sold 1,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 15th. The shares were sold at an average price of $252.86, for a total transaction of $252,860.00. Following the completion of the transaction, the chief accounting officer directly owned 46,819 shares of the company’s stock, valued at $11,838,652.34. This represents a 2.09% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 28,500 shares of company stock worth $7,562,950 over the last ninety days. Company insiders own 1.40% of the company’s stock.

Arthur J. Gallagher & Co. Price Performance

AJG opened at $259.26 on Wednesday. The stock’s 50-day moving average price is $247.63 and its 200 day moving average price is $232.50. Arthur J. Gallagher & Co. has a 12-month low of $190.75 and a 12-month high of $279.00.

Arthur J. Gallagher & Co. (NYSE:AJG) last announced its earnings results on Thursday, July 30th. The financial services provider reported $2.84 EPS for the quarter, beating analysts’ consensus estimates of $2.81 by $0.03. The firm had revenue of $3.95 billion for the quarter, compared to analysts’ expectations of $4.01 billion. The business’s revenue was up 24.3% compared to the same quarter last year. During the same quarter last year, the business earned $2.33 earnings per share. Analysts expect that Arthur J. Gallagher & Co. will post 13.16 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have issued reports on AJG. Wolfe Research cut Arthur J. Gallagher & Co. from an “outperform” rating to a “peer perform” rating in a report on Thursday, July 9th. The Goldman Sachs Group lifted their price target on Arthur J. Gallagher & Co. from $272.00 to $277.00 and gave the stock a “buy” rating in a report on Thursday, October 1st. Barclays boosted their price target on shares of Arthur J. Gallagher & Co. from $275.00 to $292.00 and gave the company an “overweight” rating in a research report on Tuesday, July 7th. Evercore boosted their price target on shares of Arthur J. Gallagher & Co. from $295.00 to $307.00 and gave the company an “outperform” rating in a research report on Thursday, October 8th. Finally, Cantor Fitzgerald dropped their price objective on shares of Arthur J. Gallagher & Co. from $300.00 to $280.00 and set a “neutral” rating for the company in a report on Wednesday, October 7th. Sixteen analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $280.74.

Arthur J. Gallagher & Co. Profile

Arthur J. Gallagher & Co is a global insurance brokerage, risk management and consulting company. The firm helps businesses, public entities and individuals identify, manage and transfer risk through insurance and related services.

Its operations include retail insurance brokerage, employee benefits consulting, wholesale brokerage, reinsurance brokerage, claims administration and risk management consulting. Gallagher places commercial and personal insurance coverage and provides services related to property and casualty risks, health care, benefits, and other specialized insurance needs.

Founded in 1927 by Arthur J.