Contravisory Investment Management Inc. Sells 253 Shares of Arthur J. Gallagher & Co. (NYSE:AJG)

Contravisory Investment Management Inc. lessened its stake in shares of Arthur J. Gallagher & Co. (NYSE:AJG) by 3.6% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 6,848 shares of the financial services provider’s stock after selling 253 shares during the period. Contravisory Investment Management Inc.’s holdings in Arthur J. Gallagher & Co. were worth $1,712,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in AJG. Kestra Advisory Services LLC lifted its stake in shares of Arthur J. Gallagher & Co. by 4.3% in the 3rd quarter. Kestra Advisory Services LLC now owns 11,537 shares of the financial services provider’s stock valued at $2,630,000 after purchasing an additional 479 shares during the period. V Square Quantitative Management LLC acquired a new position in shares of Arthur J. Gallagher & Co. in the 3rd quarter valued at $222,000. Acadian Asset Management LLC lifted its stake in shares of Arthur J. Gallagher & Co. by 473.9% in the 3rd quarter. Acadian Asset Management LLC now owns 3,656 shares of the financial services provider’s stock valued at $832,000 after purchasing an additional 3,019 shares during the period. Regal Investment Advisors LLC lifted its stake in shares of Arthur J. Gallagher & Co. by 10.1% in the 3rd quarter. Regal Investment Advisors LLC now owns 1,071 shares of the financial services provider’s stock valued at $244,000 after purchasing an additional 98 shares during the period. Finally, LPL Financial LLC lifted its stake in shares of Arthur J. Gallagher & Co. by 1.7% in the 3rd quarter. LPL Financial LLC now owns 77,111 shares of the financial services provider’s stock valued at $17,576,000 after purchasing an additional 1,267 shares during the period. 85.53% of the stock is owned by hedge funds and other institutional investors.

Arthur J. Gallagher & Co. Price Performance

Shares of AJG traded down $0.06 during trading hours on Friday, reaching $264.60. The company had a trading volume of 1,541,437 shares, compared to its average volume of 792,934. The firm has a 50 day simple moving average of $248.42 and a 200-day simple moving average of $241.99. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.70. The company has a market capitalization of $57.82 billion, a price-to-earnings ratio of 53.56, a PEG ratio of 2.40 and a beta of 0.72. Arthur J. Gallagher & Co. has a 12-month low of $209.39 and a 12-month high of $264.90.

Arthur J. Gallagher & Co. (NYSE:AJG) last announced its quarterly earnings results on Thursday, April 25th. The financial services provider reported $3.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.41 by $0.08. The business had revenue of $3.22 billion during the quarter, compared to the consensus estimate of $3.18 billion. Arthur J. Gallagher & Co. had a net margin of 10.27% and a return on equity of 18.94%. The business’s revenue was up 20.4% compared to the same quarter last year. During the same quarter last year, the firm posted $3.03 EPS. Research analysts expect that Arthur J. Gallagher & Co. will post 10.06 earnings per share for the current year.

Arthur J. Gallagher & Co. Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 21st. Investors of record on Friday, June 7th were paid a $0.60 dividend. The ex-dividend date was Friday, June 7th. This represents a $2.40 dividend on an annualized basis and a yield of 0.91%. Arthur J. Gallagher & Co.’s payout ratio is 48.58%.

Insider Activity at Arthur J. Gallagher & Co.

In other Arthur J. Gallagher & Co. news, General Counsel Walter D. Bay sold 800 shares of the firm’s stock in a transaction dated Monday, May 20th. The shares were sold at an average price of $257.24, for a total transaction of $205,792.00. Following the sale, the general counsel now directly owns 44,691 shares of the company’s stock, valued at approximately $11,496,312.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, VP Scott R. Hudson sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, June 18th. The shares were sold at an average price of $263.45, for a total value of $2,634,500.00. Following the sale, the vice president now directly owns 93,730 shares of the company’s stock, valued at $24,693,168.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, General Counsel Walter D. Bay sold 800 shares of the firm’s stock in a transaction that occurred on Monday, May 20th. The stock was sold at an average price of $257.24, for a total transaction of $205,792.00. Following the completion of the sale, the general counsel now directly owns 44,691 shares in the company, valued at $11,496,312.84. The disclosure for this sale can be found here. In the last three months, insiders have sold 53,165 shares of company stock valued at $13,629,049. Insiders own 1.60% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on AJG. Keefe, Bruyette & Woods reduced their price objective on shares of Arthur J. Gallagher & Co. from $246.00 to $240.00 and set an “underperform” rating for the company in a research report on Wednesday, April 10th. TD Cowen boosted their price target on shares of Arthur J. Gallagher & Co. from $249.00 to $273.00 and gave the company a “hold” rating in a research note on Tuesday, April 2nd. Royal Bank of Canada upped their target price on shares of Arthur J. Gallagher & Co. from $270.00 to $282.00 and gave the stock an “outperform” rating in a research note on Friday, March 22nd. Argus boosted their price target on shares of Arthur J. Gallagher & Co. from $264.00 to $270.00 and gave the stock a “buy” rating in a report on Tuesday, May 14th. Finally, Bank of America upped their target price on shares of Arthur J. Gallagher & Co. from $233.00 to $255.00 and gave the company an “underperform” rating in a report on Wednesday, May 22nd. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, Arthur J. Gallagher & Co. currently has an average rating of “Hold” and an average target price of $260.58.

About Arthur J. Gallagher & Co.

Arthur J. Gallagher & Co, together with its subsidiaries, provides insurance and reinsurance brokerage, consulting, and third-party property/casualty claims settlement and administration services to entities and individuals worldwide. It operates in Brokerage and Risk Management segments. The Brokerage segment offers retail and wholesale insurance and reinsurance brokerage services; assists retail brokers and other non-affiliated brokers in the placement of specialized and hard-to-place insurance; and acts as a brokerage wholesaler, managing general agent, and managing general underwriter for distributing specialized insurance coverages to underwriting enterprises.