HighTower Advisors LLC Reduces Holdings in Arthur J. Gallagher & Co. $AJG

HighTower Advisors LLC reduced its position in Arthur J. Gallagher & Co. (NYSE:AJG) by 7.6% in the 2nd quarter, Holdings Channel reports. The firm owned 44,081 shares of the financial services provider’s stock after selling 3,625 shares during the quarter. HighTower Advisors LLC’s holdings in Arthur J. Gallagher & Co. were worth $10,120,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Dearborn Partners LLC boosted its position in Arthur J. Gallagher & Co. by 6.3% during the fourth quarter. Dearborn Partners LLC now owns 133,936 shares of the financial services provider’s stock worth $34,661,000 after acquiring an additional 7,946 shares during the last quarter. California State Teachers Retirement System raised its holdings in Arthur J. Gallagher & Co. by 23,248.0% in the 2nd quarter. California State Teachers Retirement System now owns 86,171,395 shares of the financial services provider’s stock valued at $19,782,367,000 after acquiring an additional 85,802,321 shares during the last quarter. Gtcr LLC purchased a new position in Arthur J. Gallagher & Co. in the 1st quarter worth approximately $514,112,000. SBI Okasan Asset Management Co.Ltd. acquired a new position in shares of Arthur J. Gallagher & Co. during the 4th quarter worth approximately $1,371,000. Finally, Evelyn Partners Investment Management Services Ltd acquired a new position in shares of Arthur J. Gallagher & Co. during the 1st quarter worth approximately $5,848,000. Institutional investors and hedge funds own 85.53% of the company’s stock.

Arthur J. Gallagher & Co. Trading Down 2.7%

Shares of AJG stock opened at $244.65 on Thursday. Arthur J. Gallagher & Co. has a fifty-two week low of $190.75 and a fifty-two week high of $313.55. The company has a 50 day moving average price of $255.42 and a 200 day moving average price of $228.58. The stock has a market capitalization of $62.70 billion, a P/E ratio of 40.57, a price-to-earnings-growth ratio of 1.52 and a beta of 0.50. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.05 and a current ratio of 1.05.

Arthur J. Gallagher & Co. (NYSE:AJG) last issued its quarterly earnings results on Thursday, July 30th. The financial services provider reported $2.84 EPS for the quarter, beating the consensus estimate of $2.81 by $0.03. The company had revenue of $3.95 billion during the quarter, compared to analysts’ expectations of $4.01 billion. Arthur J. Gallagher & Co. had a net margin of 9.96% and a return on equity of 13.28%. The firm’s revenue was up 24.3% compared to the same quarter last year. During the same quarter last year, the company posted $2.33 EPS. Equities research analysts predict that Arthur J. Gallagher & Co. will post 13.28 EPS for the current fiscal year.

Arthur J. Gallagher & Co. Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, September 18th. Investors 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 dividend on an annualized basis and a dividend yield of 1.1%. Arthur J. Gallagher & Co.’s payout ratio is presently 46.43%.

Insider Transactions at Arthur J. Gallagher & Co.

In other news, VP Scott R. Hudson sold 12,000 shares of Arthur J. Gallagher & Co. stock in a transaction dated Wednesday, September 2nd. The stock was sold at an average price of $264.13, for a total transaction of $3,169,560.00. Following the sale, the vice president owned 90,262 shares in the company, valued at approximately $23,840,902.06. The trade was a 11.73% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Christopher E. Mead sold 3,500 shares of Arthur J. Gallagher & Co. stock in a transaction on Wednesday, August 19th. The shares were sold at an average price of $257.02, for a total transaction of $899,570.00. Following the completion of the transaction, the vice president directly owned 22,223 shares in the company, valued at $5,711,755.46. The trade was a 13.61% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 27,500 shares of company stock valued at $7,310,090. 1.40% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on AJG shares. Wells Fargo & Company reduced their price objective on Arthur J. Gallagher & Co. from $299.00 to $296.00 and set an “overweight” rating on the stock in a research report on Monday, August 3rd. UBS Group upped their target price on shares of Arthur J. Gallagher & Co. from $291.00 to $299.00 and gave the company a “buy” rating in a research report on Monday, August 3rd. Truist Financial upped their price target on Arthur J. Gallagher & Co. from $225.00 to $265.00 and gave the stock a “hold” rating in a research note on Friday, July 31st. Citigroup lifted their price objective on Arthur J. Gallagher & Co. from $250.00 to $285.00 and gave the company a “buy” rating in a research note on Tuesday, August 4th. Finally, Morgan Stanley boosted their price objective on Arthur J. Gallagher & Co. from $270.00 to $290.00 and gave the company an “overweight” rating in a report on Wednesday, August 19th. Fourteen analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $290.28.

Arthur J. Gallagher & Co. Company Profile

Arthur J. Gallagher & Co is a global insurance brokerage, risk management and consulting company. The company helps businesses, institutions and individuals identify, manage and transfer risk through insurance and related services.

Its operations include retail insurance brokerage, employee benefits consulting, risk management, claims administration, actuarial services, captive insurance and wholesale brokerage. Gallagher arranges commercial property and casualty coverage, personal insurance, specialty insurance and employee benefit programs, while also providing services designed to help clients manage workplace, liability and other operational risks.

Founded in 1927 by Arthur J.