Flputnam Investment Management Co. Has $5.58 Million Position in Arthur J. Gallagher & Co. $AJG

Flputnam Investment Management Co. lessened its stake in Arthur J. Gallagher & Co. (NYSE:AJG) by 33.4% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 18,017 shares of the financial services provider’s stock after selling 9,030 shares during the period. Flputnam Investment Management Co.’s holdings in Arthur J. Gallagher & Co. were worth $5,580,000 as of its most recent SEC filing.

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

Arthur J. Gallagher & Co. Stock Performance

AJG stock opened at $253.17 on Monday. Arthur J. Gallagher & Co. has a 1-year low of $236.34 and a 1-year high of $351.23. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 0.52. The firm has a market cap of $65.01 billion, a PE ratio of 37.84 and a beta of 0.69. The business’s 50-day moving average price is $258.29 and its two-hundred day moving average price is $288.94.

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

Arthur J. Gallagher & Co. Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, December 19th. Shareholders of record on Friday, December 5th were paid a $0.65 dividend. The ex-dividend date of this dividend was Friday, December 5th. This represents a $2.60 dividend on an annualized basis and a yield of 1.0%. Arthur J. Gallagher & Co.’s payout ratio is presently 38.86%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. UBS Group dropped their price target on shares of Arthur J. Gallagher & Co. from $329.00 to $285.00 and set a “neutral” rating for the company in a research note on Wednesday. Mizuho assumed coverage on shares of Arthur J. Gallagher & Co. in a research report on Monday, December 15th. They set a “neutral” rating and a $276.00 target price for the company. Keefe, Bruyette & Woods cut their price target on Arthur J. Gallagher & Co. from $275.00 to $272.00 and set a “market perform” rating on the stock in a research note on Thursday. Barclays cut Arthur J. Gallagher & Co. from an “equal weight” rating to an “underweight” rating and decreased their price objective for the stock from $328.00 to $250.00 in a research note on Thursday, November 20th. Finally, Cowen reiterated a “buy” rating on shares of Arthur J. Gallagher & Co. in a report on Friday, October 31st. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $302.22.

Insider Activity

In other news, CAO Richard C. Cary sold 6,000 shares of the stock in a transaction on Tuesday, November 18th. The shares were sold at an average price of $261.00, for a total transaction of $1,566,000.00. Following the completion of the sale, the chief accounting officer owned 50,668 shares of the company’s stock, valued at $13,224,348. This represents a 10.59% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Michael Robert Pesch acquired 4,000 shares of the company’s stock in a transaction that occurred on Monday, November 3rd. The shares were bought at an average price of $247.12 per share, for a total transaction of $988,480.00. Following the completion of the acquisition, the vice president owned 41,849 shares of the company’s stock, valued at $10,341,724.88. This trade represents a 10.57% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Corporate insiders own 1.30% of the company’s stock.

Arthur J. Gallagher & Co. Profile

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.