Keebeck Wealth Management Sells 11,530 Shares of Arthur J. Gallagher & Co. $AJG

Keebeck Wealth Management reduced its holdings in shares of Arthur J. Gallagher & Co. (NYSE:AJG) by 74.5% in the first quarter, HoldingsChannel.com reports. The fund owned 3,938 shares of the financial services provider’s stock after selling 11,530 shares during the quarter. Keebeck Wealth Management’s holdings in Arthur J. Gallagher & Co. were worth $853,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in AJG. Kemnay Advisory Services Inc. bought a new stake in shares of Arthur J. Gallagher & Co. during the 4th quarter valued at about $26,000. Rakuten Securities Inc. grew its stake in Arthur J. Gallagher & Co. by 650.0% during the second quarter. Rakuten Securities Inc. now owns 105 shares of the financial services provider’s stock worth $34,000 after purchasing an additional 91 shares during the period. MV Capital Management Inc. bought a new stake in Arthur J. Gallagher & Co. in the fourth quarter worth approximately $34,000. Cassaday & Co Wealth Management LLC acquired a new position in Arthur J. Gallagher & Co. in the first quarter valued at approximately $29,000. Finally, Prosperity Bancshares Inc bought a new position in shares of Arthur J. Gallagher & Co. during the 4th quarter worth approximately $42,000. 85.53% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several analysts have recently commented on AJG shares. UBS Group raised their price objective on shares of Arthur J. Gallagher & Co. from $250.00 to $291.00 and gave the stock a “buy” rating in a research report on Wednesday, July 8th. Wells Fargo & Company boosted their target price on shares of Arthur J. Gallagher & Co. from $271.00 to $299.00 and gave the company an “overweight” rating in a research report on Thursday, July 9th. Keefe, Bruyette & Woods raised their price target on shares of Arthur J. Gallagher & Co. from $242.00 to $261.00 and gave the stock a “market perform” rating in a report on Wednesday, July 8th. Barclays lifted 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 note on Tuesday, July 7th. Finally, Cantor Fitzgerald upped their price objective on shares of Arthur J. Gallagher & Co. from $285.00 to $300.00 and gave the company a “neutral” rating in a report on Thursday, July 9th. Thirteen equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $280.35.

Arthur J. Gallagher & Co. Trading Up 2.2%

NYSE:AJG opened at $247.57 on Friday. Arthur J. Gallagher & Co. has a 52 week low of $190.75 and a 52 week high of $315.48. The firm has a 50-day moving average price of $226.33 and a two-hundred day moving average price of $225.22. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.06 and a current ratio of 1.06. The firm has a market cap of $63.60 billion, a price-to-earnings ratio of 40.06, a price-to-earnings-growth ratio of 1.25 and a beta of 0.50.

Arthur J. Gallagher & Co. (NYSE:AJG) last issued its quarterly earnings results on Thursday, April 30th. The financial services provider reported $4.47 EPS for the quarter, beating analysts’ consensus estimates of $4.43 by $0.04. The company had revenue of $4.71 billion during the quarter, compared to the consensus estimate of $4.73 billion. Arthur J. Gallagher & Co. had a return on equity of 12.83% and a net margin of 10.76%.Arthur J. Gallagher & Co.’s revenue was up 29.0% on a year-over-year basis. During the same period last year, the business posted $3.67 earnings per share. On average, equities analysts expect that Arthur J. Gallagher & Co. will post 13.22 earnings per share for the current fiscal year.

Arthur J. Gallagher & Co. Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, June 19th. Stockholders of record on Friday, June 5th were given a dividend of $0.70 per share. The ex-dividend date of this dividend was Friday, June 5th. This represents a $2.80 annualized dividend and a dividend yield of 1.1%. Arthur J. Gallagher & Co.’s dividend payout ratio (DPR) is currently 45.31%.

Insider Activity at Arthur J. Gallagher & Co.

In related news, CAO Richard C. Cary sold 3,000 shares of the business’s stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of $206.00, for a total value of $618,000.00. Following the transaction, the chief accounting officer directly owned 47,819 shares of the company’s stock, valued at approximately $9,850,714. The trade was a 5.90% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.40% of the stock is owned by insiders.

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.