Kelly Financial Services LLC Purchases 87 Shares of Arthur J. Gallagher & Co. $AJG

Kelly Financial Services LLC raised its position in Arthur J. Gallagher & Co. (NYSE:AJG) by 13.7% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 724 shares of the financial services provider’s stock after acquiring an additional 87 shares during the period. Kelly Financial Services LLC’s holdings in Arthur J. Gallagher & Co. were worth $232,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of AJG. Two Sigma Investments LP acquired a new stake in shares of Arthur J. Gallagher & Co. in the 4th quarter worth $382,000. MassMutual Private Wealth & Trust FSB raised its stake in Arthur J. Gallagher & Co. by 37.5% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 1,367 shares of the financial services provider’s stock valued at $472,000 after buying an additional 373 shares during the last quarter. Parallel Advisors LLC boosted its holdings in Arthur J. Gallagher & Co. by 14.6% in the first quarter. Parallel Advisors LLC now owns 4,247 shares of the financial services provider’s stock worth $1,466,000 after acquiring an additional 542 shares in the last quarter. Cerro Pacific Wealth Advisors LLC grew its stake in shares of Arthur J. Gallagher & Co. by 13.6% during the first quarter. Cerro Pacific Wealth Advisors LLC now owns 809 shares of the financial services provider’s stock worth $279,000 after acquiring an additional 97 shares during the last quarter. Finally, Mechanics Bank Trust Department acquired a new position in shares of Arthur J. Gallagher & Co. during the first quarter valued at about $358,000. 85.53% of the stock is owned by hedge funds and other institutional investors.

Arthur J. Gallagher & Co. Price Performance

Shares of AJG opened at $304.09 on Monday. The business’s 50-day moving average is $297.92 and its two-hundred day moving average is $317.29. The company has a market capitalization of $77.97 billion, a P/E ratio of 43.19 and a beta of 0.72. Arthur J. Gallagher & Co. has a fifty-two week low of $275.56 and a fifty-two week high of $351.23. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.36 and a current ratio of 1.36.

Arthur J. Gallagher & Co. (NYSE:AJG) last issued its earnings results on Thursday, July 31st. The financial services provider reported $2.33 EPS for the quarter, missing analysts’ consensus estimates of $2.36 by ($0.03). The company had revenue of $3.18 billion during the quarter, compared to analysts’ expectations of $3.20 billion. Arthur J. Gallagher & Co. had a return on equity of 13.17% and a net margin of 14.54%.The firm’s quarterly revenue was up 16.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.29 EPS. Research analysts predict that Arthur J. Gallagher & Co. will post 11.54 earnings per share for the current year.

Arthur J. Gallagher & Co. Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 19th. Stockholders of record on Friday, September 5th were issued a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a dividend yield of 0.9%. The ex-dividend date of this dividend was Friday, September 5th. Arthur J. Gallagher & Co.’s payout ratio is 36.93%.

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

In other Arthur J. Gallagher & Co. news, VP Scott R. Hudson sold 12,855 shares of the company’s stock in a transaction dated Monday, September 8th. The shares were sold at an average price of $297.60, for a total value of $3,825,648.00. Following the completion of the transaction, the vice president owned 85,920 shares in the company, valued at approximately $25,569,792. This represents a 13.01% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Douglas K. Howell sold 8,000 shares of the firm’s stock in a transaction dated Monday, September 22nd. The shares were sold at an average price of $299.54, for a total value of $2,396,320.00. Following the sale, the chief financial officer owned 100,777 shares in the company, valued at $30,186,742.58. This trade represents a 7.35% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 29,855 shares of company stock valued at $8,916,928. Company insiders own 1.30% of the company’s stock.

Analyst Upgrades and Downgrades

AJG has been the topic of several research analyst reports. Erste Group Bank reissued a “hold” rating on shares of Arthur J. Gallagher & Co. in a research report on Wednesday, July 23rd. Wall Street Zen raised shares of Arthur J. Gallagher & Co. from a “sell” rating to a “hold” rating in a report on Friday, September 5th. Wells Fargo & Company cut their target price on Arthur J. Gallagher & Co. from $369.00 to $365.00 and set an “overweight” rating on the stock in a research report on Friday, September 19th. Keefe, Bruyette & Woods lifted their price target on Arthur J. Gallagher & Co. from $288.00 to $298.00 and gave the stock a “market perform” rating in a research report on Friday, September 19th. Finally, Cantor Fitzgerald raised Arthur J. Gallagher & Co. to a “strong-buy” rating in a report on Wednesday, August 13th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Arthur J. Gallagher & Co. currently has an average rating of “Hold” and a consensus target price of $330.93.

Arthur J. Gallagher & Co. Company Profile

Arthur J. Gallagher & Co engages in the provision of insurance brokerage, reinsurance brokerage, consulting, and third-party claims settlement and administration services. It operates through the following segments: Brokerage, Risk Management, and Corporate. The Brokerage segment consists of retail and wholesale insurance brokerage operations.