Chicago Partners Investment Group LLC Acquires 9,739 Shares of Arthur J. Gallagher & Co. $AJG

Chicago Partners Investment Group LLC boosted its holdings in Arthur J. Gallagher & Co. (NYSE:AJG) by 87.7% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 20,846 shares of the financial services provider’s stock after purchasing an additional 9,739 shares during the quarter. Chicago Partners Investment Group LLC’s holdings in Arthur J. Gallagher & Co. were worth $6,479,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Sigma Investment Counselors Inc. boosted its position in shares of Arthur J. Gallagher & Co. by 3.8% during the second quarter. Sigma Investment Counselors Inc. now owns 32,980 shares of the financial services provider’s stock worth $10,557,000 after acquiring an additional 1,217 shares during the last quarter. Wendell David Associates Inc. increased its holdings in Arthur J. Gallagher & Co. by 6.4% in the 2nd quarter. Wendell David Associates Inc. now owns 15,932 shares of the financial services provider’s stock valued at $5,100,000 after acquiring an additional 957 shares during the last quarter. Quotient Wealth Partners LLC lifted its stake in Arthur J. Gallagher & Co. by 9.8% in the 2nd quarter. Quotient Wealth Partners LLC now owns 1,694 shares of the financial services provider’s stock worth $542,000 after purchasing an additional 151 shares in the last quarter. Chevy Chase Trust Holdings LLC grew its position in shares of Arthur J. Gallagher & Co. by 1.4% during the second quarter. Chevy Chase Trust Holdings LLC now owns 135,370 shares of the financial services provider’s stock valued at $43,335,000 after purchasing an additional 1,922 shares in the last quarter. Finally, Stratos Wealth Advisors LLC increased its holdings in shares of Arthur J. Gallagher & Co. by 10.3% in the second quarter. Stratos Wealth Advisors LLC now owns 1,277 shares of the financial services provider’s stock worth $409,000 after purchasing an additional 119 shares during the last quarter. Hedge funds and other institutional investors own 85.53% of the company’s stock.

Analyst Ratings Changes

Several research firms have weighed in on AJG. Citigroup initiated coverage on Arthur J. Gallagher & Co. in a report on Wednesday, August 13th. They set a “neutral” rating and a $317.00 price target for the company. The Goldman Sachs Group initiated coverage on shares of Arthur J. Gallagher & Co. in a report on Wednesday, September 3rd. They issued a “buy” rating and a $344.00 target price for the company. Cantor Fitzgerald raised shares of Arthur J. Gallagher & Co. to a “strong-buy” rating in a research note on Wednesday, August 13th. Barclays dropped their price objective on shares of Arthur J. Gallagher & Co. from $346.00 to $327.00 and set an “equal weight” rating for the company in a research note on Monday, July 7th. Finally, Wall Street Zen upgraded shares of Arthur J. Gallagher & Co. from a “sell” rating to a “hold” rating in a research report on Friday, September 5th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and eight have issued a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $331.43.

Insider Buying and Selling

In related news, CFO Douglas K. Howell sold 8,000 shares of the business’s stock in a transaction on Monday, September 22nd. The stock was sold at an average price of $299.54, for a total transaction of $2,396,320.00. Following the completion of the transaction, the chief financial officer owned 100,777 shares in the company, valued at $30,186,742.58. The trade was a 7.35% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Scott R. Hudson sold 12,855 shares of the stock in a transaction on Monday, September 8th. The stock was sold at an average price of $297.60, for a total value of $3,825,648.00. Following the completion of the sale, the vice president owned 85,920 shares in the company, valued at approximately $25,569,792. The trade was a 13.01% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 29,855 shares of company stock valued at $8,916,928 over the last three months. 1.60% of the stock is owned by corporate insiders.

Arthur J. Gallagher & Co. Trading Up 0.2%

AJG stock opened at $280.70 on Friday. Arthur J. Gallagher & Co. has a twelve month low of $275.56 and a twelve month high of $351.23. The stock has a market capitalization of $71.97 billion, a price-to-earnings ratio of 39.87 and a beta of 0.73. The company has a quick ratio of 1.36, a current ratio of 1.36 and a debt-to-equity ratio of 0.52. The firm’s fifty day simple moving average is $299.55 and its two-hundred day simple moving average is $313.86.

Arthur J. Gallagher & Co. (NYSE:AJG) last released its quarterly earnings results on Thursday, July 31st. The financial services provider reported $2.33 EPS for the quarter, missing analysts’ consensus estimates of $2.36 by ($0.03). The firm had revenue of $3.18 billion for the quarter, compared to analysts’ expectations of $3.20 billion. Arthur J. Gallagher & Co. had a return on equity of 13.17% and a net margin of 14.54%.Arthur J. Gallagher & Co.’s revenue for the quarter was up 16.0% on a year-over-year basis. During the same period in the prior year, the firm posted $2.29 earnings per share. As a group, analysts anticipate that Arthur J. Gallagher & Co. will post 11.54 earnings per share for the current year.

Arthur J. Gallagher & Co. Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, September 19th. Stockholders of record on Friday, September 5th were issued a $0.65 dividend. This represents a $2.60 annualized dividend and a dividend yield of 0.9%. The ex-dividend date was Friday, September 5th. Arthur J. Gallagher & Co.’s dividend payout ratio is presently 36.93%.

Arthur J. Gallagher & Co. Company Profile

Arthur J. Gallagher & Co engages in the provision of insurance brokerage, reinsurance brokerage, consulting, and third-party claims settlement and administration services. It operates through the following segments: Brokerage, Risk Management, and Corporate. The Brokerage segment consists of retail and wholesale insurance brokerage operations.