Frank Rimerman Advisors LLC Acquires Shares of 6,049 Arthur J. Gallagher & Co. (NYSE:AJG)

Frank Rimerman Advisors LLC bought a new position in Arthur J. Gallagher & Co. (NYSE:AJG) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 6,049 shares of the financial services provider’s stock, valued at approximately $1,569,000.

Several other institutional investors have also recently added to or reduced their stakes in the business. Norden Group LLC acquired a new position in shares of Arthur J. Gallagher & Co. during the first quarter valued at $3,841,000. Brookstone Capital Management increased its position in Arthur J. Gallagher & Co. by 70.4% in the 1st quarter. Brookstone Capital Management now owns 12,851 shares of the financial services provider’s stock valued at $3,213,000 after acquiring an additional 5,308 shares during the period. Sei Investments Co. increased its position in Arthur J. Gallagher & Co. by 11.7% in the 1st quarter. Sei Investments Co. now owns 194,568 shares of the financial services provider’s stock valued at $48,649,000 after acquiring an additional 20,302 shares during the period. Nomura Holdings Inc. acquired a new position in Arthur J. Gallagher & Co. during the 4th quarter worth $979,000. Finally, Swedbank AB bought a new position in shares of Arthur J. Gallagher & Co. in the first quarter worth $3,297,000. Institutional investors own 85.53% of the company’s stock.

Insider Activity

In related news, CFO Douglas K. Howell sold 8,710 shares of the stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $285.07, for a total transaction of $2,482,959.70. Following the completion of the sale, the chief financial officer now owns 75,963 shares in the company, valued at approximately $21,654,772.41. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other news, CFO Douglas K. Howell sold 7,000 shares of the company’s stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $284.68, for a total transaction of $1,992,760.00. Following the completion of the transaction, the chief financial officer now owns 75,963 shares of the company’s stock, valued at $21,625,146.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Douglas K. Howell sold 8,710 shares of Arthur J. Gallagher & Co. stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $285.07, for a total value of $2,482,959.70. Following the sale, the chief financial officer now directly owns 75,963 shares in the company, valued at $21,654,772.41. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 44,145 shares of company stock valued at $12,622,660. 1.60% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on AJG shares. Bank Of America (Bofa) boosted their target price on Arthur J. Gallagher & Co. from $255.00 to $265.00 and gave the stock an “underperform” rating in a report on Friday, July 26th. Royal Bank of Canada upped their price target on shares of Arthur J. Gallagher & Co. from $310.00 to $320.00 and gave the company an “outperform” rating in a report on Friday. Wells Fargo & Company lifted their price objective on shares of Arthur J. Gallagher & Co. from $301.00 to $309.00 and gave the stock an “overweight” rating in a research note on Friday. The Goldman Sachs Group raised their target price on shares of Arthur J. Gallagher & Co. from $272.00 to $286.00 in a report on Friday, July 26th. Finally, TD Cowen upped their price target on 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 research analysts have rated the stock with a sell rating, eight have issued a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, Arthur J. Gallagher & Co. currently has a consensus rating of “Hold” and an average price target of $282.93.

Arthur J. Gallagher & Co. Trading Down 2.2 %

Arthur J. Gallagher & Co. stock opened at $276.06 on Monday. Arthur J. Gallagher & Co. has a one year low of $218.63 and a one year high of $301.04. The company’s fifty day moving average price is $285.49 and its two-hundred day moving average price is $262.94. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.04 and a quick ratio of 1.04. The company has a market capitalization of $60.32 billion, a price-to-earnings ratio of 55.88, a PEG ratio of 2.47 and a beta of 0.72.

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 return on equity of 19.25% and a net margin of 10.41%. The firm had revenue of $2.73 billion during the quarter, compared to analysts’ expectations of $2.77 billion. During the same quarter in the prior year, the business earned $1.90 earnings per share. The company’s revenue was up 14.3% on a year-over-year basis. On average, analysts forecast 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 was paid on Friday, September 20th. Shareholders of record on Friday, September 6th were given a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 0.87%. The ex-dividend date of this dividend was Friday, September 6th. Arthur J. Gallagher & Co.’s dividend payout ratio is 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.