Benjamin F. Edwards & Company Inc. Trims Position in Arthur J. Gallagher & Co. (NYSE:AJG)

Benjamin F. Edwards & Company Inc. trimmed its holdings in Arthur J. Gallagher & Co. (NYSE:AJG) by 0.2% in the second quarter, according to its most recent disclosure with the SEC. The fund owned 94,042 shares of the financial services provider’s stock after selling 183 shares during the period. Benjamin F. Edwards & Company Inc.’s holdings in Arthur J. Gallagher & Co. were worth $24,386,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in AJG. Mark Sheptoff Financial Planning LLC purchased a new position in Arthur J. Gallagher & Co. during the second quarter worth about $26,000. Richardson Financial Services Inc. purchased a new position in Arthur J. Gallagher & Co. during the fourth quarter worth about $27,000. Creekmur Asset Management LLC purchased a new position in Arthur J. Gallagher & Co. during the first quarter worth about $27,000. DiNuzzo Private Wealth Inc. raised its holdings in Arthur J. Gallagher & Co. by 89.7% during the second quarter. DiNuzzo Private Wealth Inc. now owns 110 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 52 shares in the last quarter. Finally, Y.D. More Investments Ltd purchased a new position in Arthur J. Gallagher & Co. during the second quarter worth about $30,000. 85.53% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms recently issued reports on AJG. Piper Sandler increased their price target on shares of Arthur J. Gallagher & Co. from $252.00 to $254.00 and gave the stock a “neutral” rating in a report on Friday, July 26th. Jefferies Financial Group increased their target price on shares of Arthur J. Gallagher & Co. from $264.00 to $267.00 in a report on Friday, July 26th. BMO Capital Markets increased their target price on shares of Arthur J. Gallagher & Co. from $275.00 to $295.00 and gave the company an “outperform” rating in a report on Friday, July 26th. Keefe, Bruyette & Woods increased their target price on shares of Arthur J. Gallagher & Co. from $241.00 to $252.00 and gave the company an “underperform” rating in a report on Friday, July 26th. Finally, TD Cowen increased their target price on shares of Arthur J. Gallagher & Co. from $273.00 to $288.00 and gave the company a “hold” rating in a report on Tuesday, August 13th. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and five have given a buy rating to the stock. According to MarketBeat, Arthur J. Gallagher & Co. presently has a consensus rating of “Hold” and a consensus price target of $278.47.

Insider Buying and Selling

In related news, General Counsel Walter D. Bay sold 6,335 shares of the firm’s stock in a transaction that occurred on Tuesday, July 30th. The shares were sold at an average price of $284.06, for a total transaction of $1,799,520.10. Following the sale, the general counsel now owns 30,053 shares in the company, valued at $8,536,855.18. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Arthur J. Gallagher & Co. news, General Counsel Walter D. Bay sold 6,335 shares of Arthur J. Gallagher & Co. stock in a transaction on Tuesday, July 30th. The shares were sold at an average price of $284.06, for a total value of $1,799,520.10. Following the transaction, the general counsel now owns 30,053 shares in the company, valued at approximately $8,536,855.18. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, President Michael Robert Pesch sold 7,100 shares of Arthur J. Gallagher & Co. stock in a transaction on Friday, September 13th. The shares were sold at an average price of $296.20, for a total transaction of $2,103,020.00. Following the completion of the transaction, the president now owns 33,267 shares in the company, valued at approximately $9,853,685.40. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 37,145 shares of company stock worth $10,629,900. 1.60% of the stock is owned by insiders.

Arthur J. Gallagher & Co. Stock Down 3.1 %

AJG stock opened at $282.18 on Friday. Arthur J. Gallagher & Co. has a 12 month low of $218.63 and a 12 month high of $301.04. The company’s 50 day simple moving average is $285.38 and its 200-day simple moving average is $262.49. The firm has a market capitalization of $61.66 billion, a PE ratio of 57.12, a P/E/G ratio of 2.47 and a beta of 0.72. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.04 and a quick ratio of 1.04.

Arthur J. Gallagher & Co. (NYSE:AJG) last announced its earnings results on Thursday, July 25th. The financial services provider reported $2.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.24 by $0.02. Arthur J. Gallagher & Co. had a net margin of 10.41% and a return on equity of 19.25%. The firm had revenue of $2.73 billion for the quarter, compared to analyst estimates of $2.77 billion. During the same quarter last year, the business earned $1.90 earnings per share. Arthur J. Gallagher & Co.’s revenue was up 14.3% compared to the same quarter last year. Equities analysts expect that Arthur J. Gallagher & Co. will post 10.16 earnings per share for the current fiscal year.

Arthur J. Gallagher & Co. Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 20th. Investors of record on Friday, September 6th will be given a dividend of $0.60 per share. The ex-dividend date of this dividend is Friday, September 6th. This represents a $2.40 dividend on an annualized basis and a yield of 0.85%. Arthur J. Gallagher & Co.’s dividend payout ratio (DPR) is currently 48.58%.

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.