Cresset Asset Management LLC Raises Holdings in Arthur J. Gallagher & Co. $AJG

Cresset Asset Management LLC boosted its position in shares of Arthur J. Gallagher & Co. (NYSE:AJG) by 357.2% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 16,785 shares of the financial services provider’s stock after acquiring an additional 13,114 shares during the quarter. Cresset Asset Management LLC’s holdings in Arthur J. Gallagher & Co. were worth $5,374,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in the stock. SeaCrest Wealth Management LLC grew its stake in shares of Arthur J. Gallagher & Co. by 2.3% in the 2nd quarter. SeaCrest Wealth Management LLC now owns 1,542 shares of the financial services provider’s stock valued at $494,000 after purchasing an additional 34 shares during the last quarter. Ashton Thomas Private Wealth LLC increased its holdings in shares of Arthur J. Gallagher & Co. by 1.3% in the 1st quarter. Ashton Thomas Private Wealth LLC now owns 2,746 shares of the financial services provider’s stock valued at $948,000 after purchasing an additional 35 shares in the last quarter. Contravisory Investment Management Inc. lifted its position in shares of Arthur J. Gallagher & Co. by 0.6% during the 2nd quarter. Contravisory Investment Management Inc. now owns 5,501 shares of the financial services provider’s stock valued at $1,761,000 after acquiring an additional 35 shares during the period. Tritonpoint Wealth LLC boosted its position in Arthur J. Gallagher & Co. by 1.1% during the second quarter. Tritonpoint Wealth LLC now owns 3,222 shares of the financial services provider’s stock worth $1,032,000 after purchasing an additional 35 shares in the last quarter. Finally, D.A. Davidson & CO. grew its holdings in Arthur J. Gallagher & Co. by 1.2% in the second quarter. D.A. Davidson & CO. now owns 2,892 shares of the financial services provider’s stock valued at $926,000 after purchasing an additional 35 shares during the last quarter. Institutional investors and hedge funds own 85.53% of the company’s stock.

Arthur J. Gallagher & Co. Trading Down 2.3%

NYSE:AJG opened at $239.71 on Monday. The business’s 50-day moving average is $269.96 and its two-hundred day moving average is $295.47. The firm has a market capitalization of $61.56 billion, a PE ratio of 35.83 and a beta of 0.69. Arthur J. Gallagher & Co. has a 12 month low of $238.65 and a 12 month high of $351.23. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.06 and a quick ratio of 1.06.

Arthur J. Gallagher & Co. (NYSE:AJG) last posted its earnings results on Thursday, October 30th. The financial services provider reported $2.32 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.51 by ($0.19). The company had revenue of $3.33 billion during the quarter, compared to analyst estimates of $3.34 billion. Arthur J. Gallagher & Co. had a net margin of 13.58% and a return on equity of 11.98%. Arthur J. Gallagher & Co.’s quarterly revenue was up 20.2% compared to the same quarter last year. During the same quarter last year, the business posted $2.26 EPS. Research analysts predict that Arthur J. Gallagher & Co. will post 11.54 earnings per share for the current fiscal year.

Arthur J. Gallagher & Co. Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 19th. Shareholders of record on Friday, December 5th will be issued a $0.65 dividend. The ex-dividend date is Friday, December 5th. This represents a $2.60 dividend on an annualized basis and a yield of 1.1%. Arthur J. Gallagher & Co.’s payout ratio is currently 38.86%.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. Wall Street Zen downgraded shares of Arthur J. Gallagher & Co. from a “hold” rating to a “sell” rating in a report on Saturday, November 1st. Weiss Ratings reissued a “hold (c+)” rating on shares of Arthur J. Gallagher & Co. in a research note on Monday, December 1st. Citigroup dropped their price target on shares of Arthur J. Gallagher & Co. from $330.00 to $277.00 and set a “neutral” rating for the company in a research report on Monday, November 3rd. The Goldman Sachs Group reduced their target price on Arthur J. Gallagher & Co. from $361.00 to $315.00 and set a “buy” rating on the stock in a report on Friday, October 31st. Finally, Cowen reiterated a “buy” rating on shares of Arthur J. Gallagher & Co. in a report on Friday, October 31st. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, eight have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $314.87.

Insiders Place Their Bets

In other Arthur J. Gallagher & Co. news, CFO Douglas K. Howell sold 8,000 shares of the firm’s stock in a transaction 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 completion of the transaction, the chief financial officer directly owned 100,777 shares of the company’s stock, valued at $30,186,742.58. This trade represents a 7.35% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Christopher E. Mead sold 1,250 shares of Arthur J. Gallagher & Co. stock in a transaction dated Friday, November 21st. The stock was sold at an average price of $250.74, for a total value of $313,425.00. Following the completion of the transaction, the vice president owned 17,327 shares of the company’s stock, valued at $4,344,571.98. This trade represents a 6.73% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 24,250 shares of company stock worth $6,970,705. Company insiders own 1.30% of the company’s stock.

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.