King Luther Capital Management Corp Has $58.34 Million Stake in Arthur J. Gallagher & Co. $AJG

King Luther Capital Management Corp cut its stake in Arthur J. Gallagher & Co. (NYSE:AJG) by 15.5% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 188,346 shares of the financial services provider’s stock after selling 34,426 shares during the period. King Luther Capital Management Corp owned approximately 0.07% of Arthur J. Gallagher & Co. worth $58,338,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of AJG. Physician Wealth Advisors Inc. boosted its position in shares of Arthur J. Gallagher & Co. by 870.0% during the third quarter. Physician Wealth Advisors Inc. now owns 97 shares of the financial services provider’s stock worth $30,000 after buying an additional 87 shares during the period. Rakuten Securities Inc. grew its stake in shares of Arthur J. Gallagher & Co. by 650.0% during the 2nd quarter. Rakuten Securities Inc. now owns 105 shares of the financial services provider’s stock worth $34,000 after acquiring an additional 91 shares in the last quarter. Central Pacific Bank Trust Division grew its stake in shares of Arthur J. Gallagher & Co. by 40.6% during the 3rd 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 in the last quarter. Westside Investment Management Inc. lifted its position in shares of Arthur J. Gallagher & Co. by 100.0% in the third quarter. Westside Investment Management Inc. now owns 136 shares of the financial services provider’s stock worth $42,000 after purchasing an additional 68 shares in the last quarter. Finally, Solstein Capital LLC acquired a new position in Arthur J. Gallagher & Co. during the second quarter worth $49,000. Institutional investors and hedge funds own 85.53% of the company’s stock.

Arthur J. Gallagher & Co. Stock Performance

AJG opened at $214.58 on Thursday. 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 12-month low of $195.00 and a 12-month high of $351.23. The business has a 50 day moving average of $247.75 and a 200-day moving average of $269.15. The stock has a market cap of $55.10 billion, a price-to-earnings ratio of 34.89, a PEG ratio of 1.16 and a beta of 0.66.

Arthur J. Gallagher & Co. (NYSE:AJG) last posted its quarterly earnings results on Thursday, January 29th. The financial services provider reported $2.38 earnings per share for the quarter, beating analysts’ consensus estimates of $2.35 by $0.03. Arthur J. Gallagher & Co. had a return on equity of 12.13% and a net margin of 11.84%.The business had revenue of $3.57 billion for the quarter, compared to analysts’ expectations of $3.61 billion. During the same quarter in the prior year, the business earned $1.12 EPS. The firm’s revenue for the quarter was up 33.9% on a year-over-year basis. On average, equities research analysts expect that Arthur J. Gallagher & Co. will post 11.54 earnings per share for the current year.

Arthur J. Gallagher & Co. Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 20th. Investors of record on Friday, March 6th will be issued a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a dividend yield of 1.3%. The ex-dividend date of this dividend is Friday, March 6th. This is a positive change from Arthur J. Gallagher & Co.’s previous quarterly dividend of $0.65. Arthur J. Gallagher & Co.’s payout ratio is presently 42.28%.

Wall Street Analyst Weigh In

AJG has been the topic of several recent research reports. UBS Group lowered their price target on shares of Arthur J. Gallagher & Co. from $285.00 to $283.00 and set a “neutral” rating on the stock in a research note on Monday, February 2nd. TD Cowen reaffirmed a “buy” rating on shares of Arthur J. Gallagher & Co. in a research report on Friday, October 31st. Jefferies Financial Group reduced their price target on Arthur J. Gallagher & Co. from $283.00 to $280.00 and set a “hold” rating for the company in a research report on Monday, February 2nd. Wells Fargo & Company dropped their price objective on Arthur J. Gallagher & Co. from $311.00 to $298.00 and set an “overweight” rating on the stock in a research note on Friday, January 30th. Finally, BMO Capital Markets cut shares of Arthur J. Gallagher & Co. from an “outperform” rating to a “market perform” rating and decreased their target price for the company from $289.00 to $275.00 in a research note on Tuesday, January 13th. Six equities research analysts have rated the stock with a Buy rating, twelve have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $284.12.

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

In other Arthur J. Gallagher & Co. news, CFO Douglas K. Howell sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, December 22nd. The shares were sold at an average price of $258.05, for a total transaction of $1,290,250.00. Following the completion of the sale, the chief financial officer directly owned 95,777 shares in the company, valued at $24,715,254.85. This trade represents a 4.96% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, General Counsel Walter D. Bay sold 15,850 shares of the stock in a transaction that occurred on Friday, December 19th. The stock was sold at an average price of $255.00, for a total value of $4,041,750.00. Following the transaction, the general counsel owned 79,549 shares in the company, valued at approximately $20,284,995. This trade represents a 16.61% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 26,100 shares of company stock valued at $6,677,865 in the last three months. 1.60% of the stock is currently owned by company insiders.

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.