Oppenheimer Asset Management Inc. Sells 4,169 Shares of Arthur J. Gallagher & Co. $AJG

Oppenheimer Asset Management Inc. lessened its holdings in shares of Arthur J. Gallagher & Co. (NYSE:AJG) by 8.8% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 43,389 shares of the financial services provider’s stock after selling 4,169 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Arthur J. Gallagher & Co. were worth $13,890,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of AJG. J.Safra Asset Management Corp lifted its holdings in shares of Arthur J. Gallagher & Co. by 209.1% during the 2nd quarter. J.Safra Asset Management Corp now owns 102 shares of the financial services provider’s stock valued at $32,000 after purchasing an additional 69 shares in the last quarter. AlphaQuest LLC bought a new position in shares of Arthur J. Gallagher & Co. during the 1st quarter valued at about $33,000. Saudi Central Bank bought a new position in shares of Arthur J. Gallagher & Co. during the 1st quarter valued at about $34,000. Centennial Bank AR bought a new stake in Arthur J. Gallagher & Co. in the 1st quarter valued at approximately $38,000. Finally, Golden State Wealth Management LLC lifted its stake in Arthur J. Gallagher & Co. by 2,750.0% in the 1st quarter. Golden State Wealth Management LLC now owns 114 shares of the financial services provider’s stock valued at $39,000 after acquiring an additional 110 shares in the last quarter. Institutional investors own 85.53% of the company’s stock.

Arthur J. Gallagher & Co. Trading Down 0.5%

Shares of Arthur J. Gallagher & Co. stock 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 cap of $72.05 billion, a P/E ratio of 39.92 and a beta of 0.73. The company has a quick ratio of 1.36, a current ratio of 1.36 and a debt-to-equity ratio of 0.52. The business’s 50 day moving average is $298.41 and its 200-day moving average is $312.45.

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

Arthur J. Gallagher & Co. Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, September 19th. Investors of record on Friday, September 5th were issued 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 presently 36.93%.

Analyst Ratings Changes

Several equities research analysts have commented on AJG shares. Cantor Fitzgerald upgraded Arthur J. Gallagher & Co. to a “strong-buy” rating in a research note on Wednesday, August 13th. Keefe, Bruyette & Woods boosted 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. Erste Group Bank restated a “hold” rating on shares of Arthur J. Gallagher & Co. in a research note on Wednesday, July 23rd. Wall Street Zen upgraded Arthur J. Gallagher & Co. from a “sell” rating to a “hold” rating in a research note on Friday, September 5th. Finally, Citigroup started coverage on Arthur J. Gallagher & Co. in a research note on Wednesday, August 13th. They issued a “neutral” rating and a $317.00 target price on the stock. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and eight have assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $331.43.

Insider Buying and Selling

In related news, CFO Douglas K. Howell sold 8,000 shares of the business’s stock in a transaction that occurred on Monday, September 22nd. The stock was sold at an average price of $299.54, for a total transaction of $2,396,320.00. Following the transaction, the chief financial officer directly owned 100,777 shares of the company’s stock, valued at approximately $30,186,742.58. The trade was a 7.35% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Scott R. Hudson sold 12,855 shares of the business’s stock in a transaction that occurred on Monday, September 8th. The stock was sold at an average price of $297.60, for a total value of $3,825,648.00. Following the transaction, the vice president directly owned 85,920 shares in the company, valued at $25,569,792. The trade was a 13.01% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 29,855 shares of company stock worth $8,916,928 over the last three months. 1.30% of the stock is owned by insiders.

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.