DRW Securities LLC Sells 2,283 Shares of Arthur J. Gallagher & Co. (NYSE:AJG)

DRW Securities LLC decreased its position in Arthur J. Gallagher & Co. (NYSE:AJG) by 47.4% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 2,535 shares of the financial services provider’s stock after selling 2,283 shares during the quarter. DRW Securities LLC’s holdings in Arthur J. Gallagher & Co. were worth $656,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in AJG. Signaturefd LLC boosted its stake in Arthur J. Gallagher & Co. by 1.0% in the second quarter. Signaturefd LLC now owns 3,825 shares of the financial services provider’s stock valued at $992,000 after acquiring an additional 39 shares during the last quarter. Trueblood Wealth Management LLC boosted its position in shares of Arthur J. Gallagher & Co. by 0.4% in the 2nd quarter. Trueblood Wealth Management LLC now owns 9,290 shares of the financial services provider’s stock worth $2,409,000 after purchasing an additional 40 shares during the last quarter. J.W. Cole Advisors Inc. increased its holdings in Arthur J. Gallagher & Co. by 4.7% in the first quarter. J.W. Cole Advisors Inc. now owns 983 shares of the financial services provider’s stock valued at $246,000 after purchasing an additional 44 shares during the last quarter. ERn Financial LLC lifted its stake in Arthur J. Gallagher & Co. by 1.9% in the first quarter. ERn Financial LLC now owns 2,542 shares of the financial services provider’s stock valued at $636,000 after buying an additional 47 shares during the period. Finally, Signature Estate & Investment Advisors LLC boosted its holdings in Arthur J. Gallagher & Co. by 0.8% during the second quarter. Signature Estate & Investment Advisors LLC now owns 6,331 shares of the financial services provider’s stock worth $1,642,000 after buying an additional 48 shares during the last quarter. Institutional investors and hedge funds own 85.53% of the company’s stock.

Insider Activity at Arthur J. Gallagher & Co.

In other news, General Counsel Walter D. Bay sold 6,335 shares of the company’s stock in a transaction that occurred on Tuesday, July 30th. The stock was 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 approximately $8,536,855.18. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, President Thomas Joseph Gallagher sold 15,000 shares of the business’s stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $282.96, for a total transaction of $4,244,400.00. Following the transaction, the president now directly owns 329,099 shares in the company, valued at approximately $93,121,853.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, General Counsel Walter D. Bay sold 6,335 shares of the firm’s stock in a transaction dated 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 completion of the sale, the general counsel now owns 30,053 shares of the company’s stock, valued at $8,536,855.18. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 44,145 shares of company stock valued at $12,622,660. Insiders own 1.60% of the company’s stock.

Analysts Set New Price Targets

AJG has been the subject of a number of recent analyst reports. Barclays started coverage on Arthur J. Gallagher & Co. in a research note on Wednesday, September 4th. They issued an “equal weight” rating and a $300.00 price target for the company. Royal Bank of Canada increased their target price on shares of Arthur J. Gallagher & Co. from $310.00 to $320.00 and gave the stock an “outperform” rating in a report on Friday. BMO Capital Markets boosted their price target 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. Wells Fargo & Company raised their price objective on Arthur J. Gallagher & Co. from $301.00 to $309.00 and gave the stock an “overweight” rating in a research note on Friday. Finally, Keefe, Bruyette & Woods boosted their target price on Arthur J. Gallagher & Co. from $241.00 to $252.00 and gave the company an “underperform” rating in a research note on Friday, July 26th. Three research analysts have rated the stock with a sell rating, eight have given a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $282.93.

Arthur J. Gallagher & Co. Price Performance

Shares of AJG opened at $276.06 on Monday. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.67. Arthur J. Gallagher & Co. has a twelve month low of $218.63 and a twelve month high of $301.04. The stock has a market capitalization of $60.32 billion, a P/E ratio of 55.88, a P/E/G ratio of 2.47 and a beta of 0.72. The company has a 50 day moving average of $285.49 and a 200-day moving average of $262.94.

Arthur J. Gallagher & Co. (NYSE:AJG) last released its earnings results on Thursday, July 25th. The financial services provider reported $2.26 earnings per share for the quarter, beating 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 business had revenue of $2.73 billion during the quarter, compared to the consensus estimate of $2.77 billion. During the same quarter last year, the firm earned $1.90 earnings per share. The firm’s revenue for the quarter was up 14.3% compared to the same quarter last year. As a group, equities research analysts forecast that Arthur J. Gallagher & Co. will post 10.16 EPS for the current fiscal year.

Arthur J. Gallagher & Co. Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 20th. Investors of record on Friday, September 6th were issued a dividend of $0.60 per share. The ex-dividend date was Friday, September 6th. This represents a $2.40 annualized dividend and a yield of 0.87%. Arthur J. Gallagher & Co.’s payout ratio is presently 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.