Concurrent Investment Advisors LLC Sells 122 Shares of Arthur J. Gallagher & Co. (NYSE:AJG)

Concurrent Investment Advisors LLC trimmed its holdings in Arthur J. Gallagher & Co. (NYSE:AJG) by 1.6% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 7,624 shares of the financial services provider’s stock after selling 122 shares during the period. Concurrent Investment Advisors LLC’s holdings in Arthur J. Gallagher & Co. were worth $2,145,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in the business. Central Pacific Bank Trust Division purchased a new position in shares of Arthur J. Gallagher & Co. during the first quarter valued at approximately $68,000. Sciencast Management LP bought a new stake in shares of Arthur J. Gallagher & Co. in the 1st quarter worth $358,000. AIA Group Ltd raised its holdings in shares of Arthur J. Gallagher & Co. by 58.9% in the first quarter. AIA Group Ltd now owns 6,869 shares of the financial services provider’s stock valued at $1,718,000 after purchasing an additional 2,546 shares during the last quarter. Empowered Funds LLC lifted its position in shares of Arthur J. Gallagher & Co. by 19.1% during the first quarter. Empowered Funds LLC now owns 3,222 shares of the financial services provider’s stock valued at $806,000 after purchasing an additional 516 shares in the last quarter. Finally, Brooklyn Investment Group purchased a new position in Arthur J. Gallagher & Co. during the first quarter worth about $246,000. 85.53% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Arthur J. Gallagher & Co. news, CFO Douglas K. Howell sold 7,000 shares of the firm’s stock in a transaction on Monday, October 28th. The shares were sold at an average price of $284.70, for a total value of $1,992,900.00. Following the completion of the transaction, the chief financial officer now directly owns 75,963 shares of the company’s stock, valued at $21,626,666.10. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, CFO Douglas K. Howell sold 7,000 shares of Arthur J. Gallagher & Co. stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $284.70, for a total transaction of $1,992,900.00. Following the completion of the sale, the chief financial officer now owns 75,963 shares in the company, valued at approximately $21,626,666.10. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Christopher E. Mead sold 2,800 shares of the company’s stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $287.00, for a total transaction of $803,600.00. Following the completion of the transaction, the vice president now owns 14,674 shares in the company, valued at approximately $4,211,438. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 23,900 shares of company stock valued at $6,892,280. Company insiders own 1.60% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have commented on the stock. Bank of America lifted their target price on shares of Arthur J. Gallagher & Co. from $271.00 to $293.00 and gave the stock an “underperform” rating in a research report on Thursday, October 10th. TD Cowen boosted their price objective on Arthur J. Gallagher & Co. from $273.00 to $288.00 and gave the stock a “hold” rating in a research report on Tuesday, August 13th. Keefe, Bruyette & Woods lifted their target price on Arthur J. Gallagher & Co. from $241.00 to $252.00 and gave the stock an “underperform” rating in a research note on Friday, July 26th. Royal Bank of Canada increased their price target on shares of Arthur J. Gallagher & Co. from $310.00 to $320.00 and gave the company an “outperform” rating in a research report on Friday, September 20th. Finally, Wells Fargo & Company lifted their price objective on shares of Arthur J. Gallagher & Co. from $309.00 to $315.00 and gave the stock an “overweight” rating in a research report on Thursday, October 10th. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $287.00.

Arthur J. Gallagher & Co. Trading Down 0.0 %

Shares of AJG stock opened at $290.56 on Friday. The stock has a market capitalization of $63.75 billion, a price-to-earnings ratio of 55.34, a PEG ratio of 2.40 and a beta of 0.72. The company’s fifty day simple moving average is $288.45 and its two-hundred day simple moving average is $272.10. Arthur J. Gallagher & Co. has a 1 year low of $218.63 and a 1 year high of $301.04. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.06 and a quick ratio of 1.06.

Arthur J. Gallagher & Co. (NYSE:AJG) last released its quarterly earnings data on Thursday, October 24th. The financial services provider reported $2.26 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $2.26. Arthur J. Gallagher & Co. had a return on equity of 19.12% and a net margin of 10.40%. The company had revenue of $2.77 billion for the quarter, compared to analyst estimates of $2.78 billion. During the same period in the previous year, the company posted $2.00 EPS. The firm’s revenue for the quarter was up 12.8% compared to the same quarter last year. As a group, analysts anticipate that Arthur J. Gallagher & Co. will post 10.11 earnings per share for the current year.

Arthur J. Gallagher & Co. Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Friday, December 6th will be paid a dividend of $0.60 per share. The ex-dividend date is Friday, December 6th. This represents a $2.40 annualized dividend and a yield of 0.83%. Arthur J. Gallagher & Co.’s dividend payout ratio is currently 45.71%.

About Arthur J. Gallagher & Co.

Arthur J. Gallagher & Co, together with its subsidiaries, provides insurance and reinsurance brokerage, consulting, and third-party property/casualty claims settlement and administration services to entities and individuals worldwide. It operates in Brokerage and Risk Management segments. The Brokerage segment offers retail and wholesale insurance and reinsurance brokerage services; assists retail brokers and other non-affiliated brokers in the placement of specialized and hard-to-place insurance; and acts as a brokerage wholesaler, managing general agent, and managing general underwriter for distributing specialized insurance coverages to underwriting enterprises.