Lord Abbett & CO. LLC Sells 9,783 Shares of Arthur J. Gallagher & Co. $AJG

Lord Abbett & CO. LLC decreased its position in Arthur J. Gallagher & Co. (NYSE:AJGFree Report) by 1.8% in the 4th quarter, HoldingsChannel.com reports. The fund owned 535,322 shares of the financial services provider’s stock after selling 9,783 shares during the quarter. Lord Abbett & CO. LLC’s holdings in Arthur J. Gallagher & Co. were worth $138,536,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the company. Wealthspire Advisors LLC grew its stake in shares of Arthur J. Gallagher & Co. by 97.4% in the 4th quarter. Wealthspire Advisors LLC now owns 14,398 shares of the financial services provider’s stock worth $3,726,000 after acquiring an additional 7,104 shares in the last quarter. Gerber Kawasaki Wealth & Investment Management bought a new stake in shares of Arthur J. Gallagher & Co. in the 4th quarter worth $8,244,000. Advisors Asset Management Inc. grew its stake in shares of Arthur J. Gallagher & Co. by 106.2% in the 4th quarter. Advisors Asset Management Inc. now owns 893 shares of the financial services provider’s stock worth $231,000 after acquiring an additional 460 shares in the last quarter. Rench Wealth Management Inc. grew its stake in shares of Arthur J. Gallagher & Co. by 1.5% in the 4th quarter. Rench Wealth Management Inc. now owns 51,168 shares of the financial services provider’s stock worth $13,242,000 after acquiring an additional 733 shares in the last quarter. Finally, Beck Mack & Oliver LLC grew its stake in shares of Arthur J. Gallagher & Co. by 19.7% in the 4th quarter. Beck Mack & Oliver LLC now owns 879,059 shares of the financial services provider’s stock worth $227,492,000 after acquiring an additional 144,980 shares in the last quarter. Institutional investors own 85.53% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently issued reports on the stock. Keefe, Bruyette & Woods reduced their target price on shares of Arthur J. Gallagher & Co. from $246.00 to $235.00 and set a “market perform” rating for the company in a research note on Friday, May 1st. UBS Group upgraded shares of Arthur J. Gallagher & Co. from a “neutral” rating to a “buy” rating and reduced their target price for the stock from $283.00 to $250.00 in a research note on Monday. Barclays boosted their price target on shares of Arthur J. Gallagher & Co. from $262.00 to $275.00 and gave the stock an “overweight” rating in a report on Wednesday, April 8th. Wall Street Zen raised shares of Arthur J. Gallagher & Co. from a “sell” rating to a “hold” rating in a report on Saturday, February 21st. Finally, Citigroup raised shares of Arthur J. Gallagher & Co. from a “neutral” rating to a “buy” rating and cut their price target for the stock from $280.00 to $250.00 in a report on Wednesday, May 6th. Thirteen analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to MarketBeat.com, Arthur J. Gallagher & Co. currently has an average rating of “Moderate Buy” and an average target price of $263.71.

Check Out Our Latest Research Report on AJG

Insider Buying and Selling

In other Arthur J. Gallagher & Co. news, CAO Richard C. Cary sold 3,000 shares of the company’s stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of $206.00, for a total transaction of $618,000.00. Following the sale, the chief accounting officer directly owned 47,819 shares of the company’s stock, valued at $9,850,714. This represents a 5.90% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 1.40% of the stock is currently owned by company insiders.

Arthur J. Gallagher & Co. Price Performance

Shares of NYSE:AJG opened at $218.53 on Friday. The company’s 50-day moving average is $210.97 and its 200 day moving average is $228.06. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.06 and a current ratio of 1.06. The company has a market capitalization of $56.14 billion, a P/E ratio of 35.36, a price-to-earnings-growth ratio of 1.12 and a beta of 0.52. Arthur J. Gallagher & Co. has a fifty-two week low of $190.75 and a fifty-two week high of $327.34.

Arthur J. Gallagher & Co. (NYSE:AJGGet Free Report) last issued its quarterly earnings results on Thursday, April 30th. The financial services provider reported $4.47 earnings per share for the quarter, topping analysts’ consensus estimates of $4.43 by $0.04. The company had revenue of $4.71 billion for the quarter, compared to the consensus estimate of $4.73 billion. Arthur J. Gallagher & Co. had a net margin of 10.76% and a return on equity of 12.83%. The firm’s quarterly revenue was up 29.0% on a year-over-year basis. During the same period in the previous year, the firm earned $3.67 EPS. On average, equities research analysts forecast that Arthur J. Gallagher & Co. will post 13.27 earnings per share for the current year.

Arthur J. Gallagher & Co. Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 19th. Shareholders of record on Friday, June 5th will be issued a dividend of $0.70 per share. The ex-dividend date of this dividend is Friday, June 5th. This represents a $2.80 annualized dividend and a yield of 1.3%. Arthur J. Gallagher & Co.’s dividend payout ratio is 45.31%.

About Arthur J. Gallagher & Co.

(Free Report)

Arthur J. Gallagher & Co is a global insurance brokerage and risk management firm headquartered in Rolling Meadows, Illinois. Founded in 1927 by Arthur J. Gallagher, the company has grown from a regional broker into an international professional services organization that arranges insurance, provides consulting and designs risk-transfer solutions for commercial, industrial, public sector and individual clients.

The company’s core activities include property and casualty insurance brokerage, employee benefits consulting and administration, and a range of risk management services.

Further Reading

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Institutional Ownership by Quarter for Arthur J. Gallagher & Co. (NYSE:AJG)

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