Arthur J. Gallagher & Co. $AJG Shares Sold by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. lessened its position in shares of Arthur J. Gallagher & Co. (NYSE:AJG) by 2.0% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,397,218 shares of the financial services provider’s stock after selling 28,748 shares during the period. Envestnet Asset Management Inc. owned about 0.55% of Arthur J. Gallagher & Co. worth $447,277,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Chilton Capital Management LLC bought a new position in shares of Arthur J. Gallagher & Co. in the 2nd quarter worth about $28,602,000. Nisa Investment Advisors LLC raised its position in shares of Arthur J. Gallagher & Co. by 0.9% during the 2nd quarter. Nisa Investment Advisors LLC now owns 65,697 shares of the financial services provider’s stock worth $21,031,000 after purchasing an additional 601 shares during the period. Resonant Capital Advisors LLC lifted its holdings in shares of Arthur J. Gallagher & Co. by 39.0% in the 2nd quarter. Resonant Capital Advisors LLC now owns 874 shares of the financial services provider’s stock worth $280,000 after purchasing an additional 245 shares during the last quarter. Wealthfront Advisers LLC boosted its position in Arthur J. Gallagher & Co. by 2.1% during the 2nd quarter. Wealthfront Advisers LLC now owns 32,177 shares of the financial services provider’s stock valued at $10,301,000 after purchasing an additional 672 shares during the period. Finally, Prudent Man Advisors LLC increased its position in Arthur J. Gallagher & Co. by 34.2% in the second quarter. Prudent Man Advisors LLC now owns 3,208 shares of the financial services provider’s stock worth $1,027,000 after buying an additional 818 shares during the period. Institutional investors and hedge funds own 85.53% of the company’s stock.

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 firm’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 directly owned 85,920 shares in the company, valued at $25,569,792. This trade represents a 13.01% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CFO Douglas K. Howell sold 8,000 shares of the business’s stock in a transaction that occurred on Monday, September 22nd. The shares were sold at an average price of $299.54, for a total transaction 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 represents a 7.35% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 29,855 shares of company stock valued at $8,916,928. 1.30% of the stock is currently owned by company insiders.

Arthur J. Gallagher & Co. Stock Performance

Shares of AJG opened at $281.01 on Monday. Arthur J. Gallagher & Co. has a 12-month low of $275.56 and a 12-month high of $351.23. The stock has a market capitalization of $72.05 billion, a P/E ratio of 39.92 and a beta of 0.73. The firm’s 50 day moving average is $298.41 and its 200-day moving average is $312.45. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.36 and a quick ratio of 1.36.

Arthur J. Gallagher & Co. (NYSE:AJG) last posted its quarterly earnings results on Thursday, July 31st. The financial services provider reported $2.33 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.36 by ($0.03). The business had revenue of $3.18 billion during the quarter, compared to analyst estimates of $3.20 billion. Arthur J. Gallagher & Co. had a return on equity of 13.17% and a net margin of 14.54%.The company’s quarterly revenue was up 16.0% compared to the same quarter last year. During the same quarter last year, the firm posted $2.29 EPS. Equities research analysts anticipate that Arthur J. Gallagher & Co. will post 11.54 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 19th. Stockholders of record on Friday, September 5th were given a dividend of $0.65 per share. The ex-dividend date of this dividend was Friday, September 5th. This represents a $2.60 dividend on an annualized basis and a dividend yield of 0.9%. Arthur J. Gallagher & Co.’s payout ratio is 36.93%.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. Erste Group Bank reissued a “hold” rating on shares of Arthur J. Gallagher & Co. in a research note on Wednesday, July 23rd. Keefe, Bruyette & Woods lifted their target price on Arthur J. Gallagher & Co. from $288.00 to $298.00 and gave the company a “market perform” rating in a research note on Friday, September 19th. Weiss Ratings reissued a “buy (b-)” rating on shares of Arthur J. Gallagher & Co. in a report on Friday. Wall Street Zen upgraded shares of Arthur J. Gallagher & Co. from a “sell” rating to a “hold” rating in a research report on Friday, September 5th. Finally, The Goldman Sachs Group began coverage on shares of Arthur J. Gallagher & Co. in a research report on Wednesday, September 3rd. They set a “buy” rating and a $344.00 price target on the stock. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and eight have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $331.43.

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.