Glenmede Trust Co. NA Acquires 16,044 Shares of Arthur J. Gallagher & Co. $AJG

Glenmede Trust Co. NA grew its stake in shares of Arthur J. Gallagher & Co. (NYSE:AJG) by 166.2% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 25,700 shares of the financial services provider’s stock after purchasing an additional 16,044 shares during the period. Glenmede Trust Co. NA’s holdings in Arthur J. Gallagher & Co. were worth $5,566,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. Jump Financial LLC bought a new position in Arthur J. Gallagher & Co. during the 2nd quarter valued at $2,825,000. Qube Research & Technologies Ltd bought a new position in shares of Arthur J. Gallagher & Co. during the second quarter valued at about $3,429,000. Treasurer of the State of North Carolina boosted its holdings in Arthur J. Gallagher & Co. by 5.3% during the second quarter. Treasurer of the State of North Carolina now owns 118,467 shares of the financial services provider’s stock worth $37,924,000 after purchasing an additional 5,947 shares during the last quarter. Peapack Gladstone Financial Corp grew its position in Arthur J. Gallagher & Co. by 2,919.2% in the 2nd quarter. Peapack Gladstone Financial Corp now owns 19,987 shares of the financial services provider’s stock worth $6,398,000 after purchasing an additional 19,325 shares in the last quarter. Finally, Armistice Capital LLC purchased a new stake in Arthur J. Gallagher & Co. in the 2nd quarter valued at about $412,000. Institutional investors own 85.53% of the company’s stock.

Insiders Place Their Bets

In other news, CAO Richard C. Cary sold 3,000 shares of Arthur J. Gallagher & Co. 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 completion of the transaction, the chief accounting officer owned 47,819 shares in the company, valued at $9,850,714. This trade represents a 5.90% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 1.40% of the company’s stock.

Arthur J. Gallagher & Co. Trading Down 0.6%

NYSE:AJG opened at $248.03 on Tuesday. The company has a current ratio of 1.05, a quick ratio of 1.06 and a debt-to-equity ratio of 0.50. The stock has a market capitalization of $63.72 billion, a PE ratio of 41.13, a price-to-earnings-growth ratio of 1.29 and a beta of 0.50. The firm’s 50 day moving average is $232.53 and its 200 day moving average is $224.74. Arthur J. Gallagher & Co. has a 12 month low of $190.75 and a 12 month high of $313.55.

Arthur J. Gallagher & Co. (NYSE:AJG) last announced its quarterly earnings data on Thursday, July 30th. The financial services provider reported $2.84 earnings per share for the quarter, beating the consensus estimate of $2.81 by $0.03. Arthur J. Gallagher & Co. had a return on equity of 13.28% and a net margin of 9.96%.The business had revenue of $3.95 billion during the quarter, compared to analyst estimates of $4.01 billion. During the same period in the prior year, the company earned $2.33 earnings per share. Arthur J. Gallagher & Co.’s revenue was up 24.3% compared to the same quarter last year. Sell-side analysts expect that Arthur J. Gallagher & Co. will post 13.22 earnings per share for the current year.

Arthur J. Gallagher & Co. Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 18th. Stockholders of record on Tuesday, September 8th will be paid a dividend of $0.70 per share. The ex-dividend date is Tuesday, September 8th. This represents a $2.80 annualized dividend and a dividend yield of 1.1%. Arthur J. Gallagher & Co.’s dividend payout ratio is presently 46.43%.

Analyst Ratings Changes

A number of brokerages have recently weighed in on AJG. Wolfe Research downgraded Arthur J. Gallagher & Co. from an “outperform” rating to a “peer perform” rating in a research note on Thursday, July 9th. Citigroup upgraded Arthur J. Gallagher & Co. from a “neutral” rating to a “buy” rating and dropped their price target for the stock from $280.00 to $250.00 in a report on Wednesday, May 6th. Weiss Ratings upgraded Arthur J. Gallagher & Co. from a “hold (c-)” rating to a “hold (c)” rating in a research note on Monday, July 13th. UBS Group raised their target price on Arthur J. Gallagher & Co. from $291.00 to $299.00 and gave the company a “buy” rating in a research report on Monday. Finally, Cantor Fitzgerald lifted their target price on Arthur J. Gallagher & Co. from $285.00 to $300.00 and gave the stock a “neutral” rating in a research note on Thursday, July 9th. Thirteen investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, Arthur J. Gallagher & Co. has an average rating of “Moderate Buy” and an average price target of $285.59.

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.