Edgestream Partners L.P. Sells 9,395 Shares of Arthur J. Gallagher & Co. (NYSE:AJG)

Edgestream Partners L.P. trimmed its position in Arthur J. Gallagher & Co. (NYSE:AJG) by 90.2% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 1,021 shares of the financial services provider’s stock after selling 9,395 shares during the quarter. Edgestream Partners L.P.’s holdings in Arthur J. Gallagher & Co. were worth $265,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of the company. Menard Financial Group LLC raised its holdings in shares of Arthur J. Gallagher & Co. by 1.7% in the 2nd quarter. Menard Financial Group LLC now owns 3,743 shares of the financial services provider’s stock valued at $971,000 after purchasing an additional 61 shares during the period. Dimensional Fund Advisors LP raised its holdings in Arthur J. Gallagher & Co. by 10.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 673,456 shares of the financial services provider’s stock valued at $174,640,000 after acquiring an additional 64,864 shares during the period. Fairfield Financial Advisors LTD bought a new position in Arthur J. Gallagher & Co. in the 2nd quarter valued at about $1,452,000. Prosperity Consulting Group LLC raised its holdings in Arthur J. Gallagher & Co. by 6.3% in the 2nd quarter. Prosperity Consulting Group LLC now owns 7,393 shares of the financial services provider’s stock valued at $1,917,000 after acquiring an additional 440 shares during the period. Finally, Envestnet Asset Management Inc. raised its holdings in Arthur J. Gallagher & Co. by 3.7% in the 2nd quarter. Envestnet Asset Management Inc. now owns 1,410,349 shares of the financial services provider’s stock valued at $365,718,000 after acquiring an additional 50,650 shares during the period. 85.53% of the stock is owned by institutional investors.

Insider Activity

In other news, CFO Douglas K. Howell sold 7,000 shares of the firm’s stock in a transaction on 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CFO Douglas K. Howell sold 7,000 shares of the firm’s stock in a transaction on 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Douglas K. Howell sold 8,710 shares of Arthur J. Gallagher & Co. stock in a transaction 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 transaction, the chief financial officer now directly owns 75,963 shares of the company’s stock, valued at approximately $21,654,772.41. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 44,145 shares of company stock valued at $12,622,660. Insiders own 1.60% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. TD Cowen increased their target price on shares of Arthur J. Gallagher & Co. from $273.00 to $288.00 and gave the stock a “hold” rating in a research report on Tuesday, August 13th. Keefe, Bruyette & Woods increased their target price on shares of Arthur J. Gallagher & Co. from $241.00 to $252.00 and gave the stock an “underperform” rating in a research report on Friday, July 26th. Wells Fargo & Company increased their target price on shares of Arthur J. Gallagher & Co. from $301.00 to $309.00 and gave the stock an “overweight” rating in a research report on Friday. BMO Capital Markets increased their target price on shares of Arthur J. Gallagher & Co. from $275.00 to $295.00 and gave the stock an “outperform” rating in a research report on Friday, July 26th. Finally, Barclays assumed coverage on shares of Arthur J. Gallagher & Co. in a research report on Wednesday, September 4th. They set an “equal weight” rating and a $300.00 target price on the stock. Three research analysts have rated the stock with a sell rating, eight have given a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $282.93.

Arthur J. Gallagher & Co. Stock Performance

Shares of Arthur J. Gallagher & Co. stock opened at $281.93 on Tuesday. Arthur J. Gallagher & Co. has a fifty-two week low of $218.63 and a fifty-two week high of $301.04. 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 firm has a market capitalization of $61.60 billion, a P/E ratio of 57.07, a P/E/G ratio of 2.47 and a beta of 0.72. The company’s 50 day moving average price is $285.71 and its two-hundred day moving average price is $263.17.

Arthur J. Gallagher & Co. (NYSE:AJG) last released its quarterly earnings results on Thursday, July 25th. The financial services provider reported $2.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.24 by $0.02. The firm had revenue of $2.73 billion during the quarter, compared to the consensus estimate of $2.77 billion. Arthur J. Gallagher & Co. had a net margin of 10.41% and a return on equity of 19.25%. The company’s revenue for the quarter was up 14.3% on a year-over-year basis. During the same quarter last year, the firm earned $1.90 earnings per share. On average, equities 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 firm also recently declared a quarterly dividend, which was paid on Friday, September 20th. Stockholders of record on Friday, September 6th were paid a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 0.85%. The ex-dividend date of this dividend was Friday, September 6th. Arthur J. Gallagher & Co.’s payout ratio is currently 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.