Central Pacific Bank Trust Division Reduces Stock Position in Arthur J. Gallagher & Co. (NYSE:AJG)

Central Pacific Bank Trust Division reduced its position in Arthur J. Gallagher & Co. (NYSE:AJG) by 15.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 231 shares of the financial services provider’s stock after selling 43 shares during the quarter. Central Pacific Bank Trust Division’s holdings in Arthur J. Gallagher & Co. were worth $65,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in AJG. Norden Group LLC purchased a new position in shares of Arthur J. Gallagher & Co. during the first quarter worth approximately $3,841,000. Brookstone Capital Management increased its position in shares of Arthur J. Gallagher & Co. by 70.4% during the first quarter. Brookstone Capital Management now owns 12,851 shares of the financial services provider’s stock worth $3,213,000 after acquiring an additional 5,308 shares during the period. Sei Investments Co. increased its position in shares of Arthur J. Gallagher & Co. by 11.7% during the first quarter. Sei Investments Co. now owns 194,568 shares of the financial services provider’s stock worth $48,649,000 after acquiring an additional 20,302 shares during the period. Nomura Holdings Inc. purchased a new position in shares of Arthur J. Gallagher & Co. during the fourth quarter worth approximately $979,000. Finally, Swedbank AB purchased a new position in shares of Arthur J. Gallagher & Co. during the first quarter worth approximately $3,297,000. 85.53% of the stock is owned by hedge funds and other institutional investors.

Arthur J. Gallagher & Co. Stock Performance

Shares of Arthur J. Gallagher & Co. stock traded up $3.56 during trading on Friday, hitting $289.62. 828,669 shares of the company’s stock were exchanged, compared to its average volume of 838,370. Arthur J. Gallagher & Co. has a 52-week low of $218.63 and a 52-week high of $301.04. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.04 and a current ratio of 1.04. The business has a 50-day simple moving average of $287.51 and a 200-day simple moving average of $264.86. The stock has a market capitalization of $63.28 billion, a price-to-earnings ratio of 58.65, a PEG ratio of 2.37 and a beta of 0.72.

Arthur J. Gallagher & Co. (NYSE:AJG) last released its quarterly earnings data 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 company had revenue of $2.73 billion during the quarter, compared to analysts’ expectations of $2.77 billion. During the same quarter in the previous year, the company earned $1.90 earnings per share. The firm’s revenue for the quarter was up 14.3% on a year-over-year basis. On average, research analysts forecast that Arthur J. Gallagher & Co. will post 10.14 EPS for the current year.

Arthur J. Gallagher & Co. Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 20th. Shareholders of record on Friday, September 6th were issued a $0.60 dividend. The ex-dividend date was Friday, September 6th. This represents a $2.40 dividend on an annualized basis and a yield of 0.83%. Arthur J. Gallagher & Co.’s payout ratio is 48.58%.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on AJG shares. Wells Fargo & Company raised 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, September 20th. Barclays initiated coverage on shares of Arthur J. Gallagher & Co. in a report on Wednesday, September 4th. They set an “equal weight” rating and a $300.00 price objective on the stock. TD Cowen lifted their price objective on shares of Arthur J. Gallagher & Co. from $273.00 to $288.00 and gave the company a “hold” rating in a report on Tuesday, August 13th. BMO Capital Markets lifted their price objective 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. Finally, Bank Of America (Bofa) lifted their price objective on shares of Arthur J. Gallagher & Co. from $255.00 to $265.00 and gave the company an “underperform” rating in a report on Friday, July 26th. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, Arthur J. Gallagher & Co. presently has a consensus rating of “Hold” and a consensus target price of $283.36.

Insider Buying and Selling at Arthur J. Gallagher & Co.

In other Arthur J. Gallagher & Co. news, President Thomas Joseph Gallagher sold 15,000 shares of Arthur J. Gallagher & Co. stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $282.96, for a total value of $4,244,400.00. Following the completion of the transaction, the president now owns 329,099 shares of the company’s stock, valued at approximately $93,121,853.04. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, President Michael Robert Pesch sold 7,100 shares of the business’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $296.20, for a total transaction of $2,103,020.00. Following the transaction, the president now directly owns 33,267 shares in the company, valued at approximately $9,853,685.40. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, 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 completion of the transaction, the president now owns 329,099 shares in the company, valued at $93,121,853.04. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 44,145 shares of company stock valued at $12,622,660. Corporate insiders own 1.60% of the company’s stock.

Arthur J. Gallagher & Co. Company Profile

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.