Bank of New York Mellon Corp Sells 19,020 Shares of Arthur J. Gallagher & Co. $AJG

Bank of New York Mellon Corp lowered its holdings in Arthur J. Gallagher & Co. (NYSE:AJG) by 1.5% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,287,455 shares of the financial services provider’s stock after selling 19,020 shares during the quarter. Bank of New York Mellon Corp owned about 0.50% of Arthur J. Gallagher & Co. worth $278,837,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. Kemnay Advisory Services Inc. bought a new position in Arthur J. Gallagher & Co. in the 4th quarter valued at $26,000. Rakuten Securities Inc. boosted its stake in shares of Arthur J. Gallagher & Co. by 650.0% in the 2nd quarter. Rakuten Securities Inc. now owns 105 shares of the financial services provider’s stock valued at $34,000 after purchasing an additional 91 shares during the last quarter. MV Capital Management Inc. acquired a new stake in shares of Arthur J. Gallagher & Co. during the 4th quarter worth approximately $34,000. Prosperity Bancshares Inc bought a new stake in shares of Arthur J. Gallagher & Co. during the fourth quarter worth approximately $42,000. Finally, Thurston Springer Miller Herd & Titak Inc. lifted its holdings in Arthur J. Gallagher & Co. by 668.2% in the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 169 shares of the financial services provider’s stock valued at $44,000 after buying an additional 147 shares during the period. 85.53% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the company. Keefe, Bruyette & Woods increased their price target on Arthur J. Gallagher & Co. from $242.00 to $261.00 and gave the company a “market perform” rating in a research note on Wednesday, July 8th. Weiss Ratings upgraded Arthur J. Gallagher & Co. from a “hold (c-)” rating to a “hold (c)” rating in a report on Monday. Royal Bank Of Canada raised their target price on Arthur J. Gallagher & Co. from $260.00 to $300.00 and gave the stock an “outperform” rating in a report on Monday, July 13th. Barclays boosted their target price on Arthur J. Gallagher & Co. from $275.00 to $292.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 7th. Finally, Mizuho increased their price target on shares of Arthur J. Gallagher & Co. from $261.00 to $287.00 and gave the company an “outperform” rating in a research report on Thursday, July 9th. Thirteen research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $280.35.

Insider Activity

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

Arthur J. Gallagher & Co. Trading Down 0.6%

AJG opened at $254.36 on Friday. The firm’s fifty day simple moving average is $221.35 and its 200 day simple moving average is $225.67. The stock has a market capitalization of $65.35 billion, a P/E ratio of 41.16, a P/E/G ratio of 1.32 and a beta of 0.50. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 0.51. Arthur J. Gallagher & Co. has a 12 month low of $190.75 and a 12 month high of $316.71.

Arthur J. Gallagher & Co. (NYSE:AJG) last posted its quarterly earnings data on Thursday, April 30th. The financial services provider reported $4.47 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.43 by $0.04. Arthur J. Gallagher & Co. had a return on equity of 12.83% and a net margin of 10.76%.The business had revenue of $4.71 billion during the quarter, compared to the consensus estimate of $4.73 billion. During the same period last year, the company earned $3.67 earnings per share. Arthur J. Gallagher & Co.’s quarterly revenue was up 29.0% on a year-over-year basis. As a group, research analysts anticipate that Arthur J. Gallagher & Co. will post 13.22 EPS for the current fiscal year.

Arthur J. Gallagher & Co. Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 19th. Investors of record on Friday, June 5th were given a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date was Friday, June 5th. Arthur J. Gallagher & Co.’s dividend payout ratio is currently 45.31%.

About Arthur J. Gallagher & Co.

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.