Arthur J. Gallagher & Co. (NYSE:AJG) Shares Sold by King Luther Capital Management Corp

King Luther Capital Management Corp cut its position in Arthur J. Gallagher & Co. (NYSE:AJG) by 0.0% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 245,941 shares of the financial services provider’s stock after selling 37 shares during the quarter. King Luther Capital Management Corp’s holdings in Arthur J. Gallagher & Co. were worth $69,200,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also modified their holdings of the company. W Advisors LLC lifted its holdings in Arthur J. Gallagher & Co. by 2.4% during the 3rd quarter. W Advisors LLC now owns 1,514 shares of the financial services provider’s stock worth $426,000 after buying an additional 36 shares during the last quarter. Miracle Mile Advisors LLC increased its position in Arthur J. Gallagher & Co. by 0.8% in the 3rd quarter. Miracle Mile Advisors LLC now owns 4,583 shares of the financial services provider’s stock valued at $1,289,000 after acquiring an additional 38 shares during the period. Covenant Partners LLC increased its position in Arthur J. Gallagher & Co. by 0.7% during the 3rd quarter. Covenant Partners LLC now owns 5,326 shares of the financial services provider’s stock worth $1,499,000 after purchasing an additional 38 shares during the period. Disciplined Investments LLC increased its position in Arthur J. Gallagher & Co. by 0.7% during the 3rd quarter. Disciplined Investments LLC now owns 5,849 shares of the financial services provider’s stock worth $1,635,000 after purchasing an additional 38 shares during the period. Finally, Seelaus Asset Management LLC grew its holdings in shares of Arthur J. Gallagher & Co. by 0.7% in the 3rd quarter. Seelaus Asset Management LLC now owns 5,481 shares of the financial services provider’s stock worth $1,542,000 after acquiring an additional 38 shares during the period. 85.53% of the stock is owned by institutional investors and hedge funds.

Arthur J. Gallagher & Co. Stock Performance

Shares of AJG stock opened at $295.88 on Thursday. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.06 and a current ratio of 1.06. The company’s 50-day simple moving average is $288.28 and its 200-day simple moving average is $276.12. Arthur J. Gallagher & Co. has a one year low of $218.63 and a one year high of $301.04. The stock has a market capitalization of $64.92 billion, a price-to-earnings ratio of 56.36, a PEG ratio of 2.51 and a beta of 0.72.

Arthur J. Gallagher & Co. (NYSE:AJG) last issued its earnings results on Thursday, October 24th. The financial services provider reported $2.26 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $2.26. The firm had revenue of $2.77 billion for the quarter, compared to analysts’ expectations of $2.78 billion. Arthur J. Gallagher & Co. had a net margin of 10.40% and a return on equity of 19.12%. Arthur J. Gallagher & Co.’s revenue was up 12.8% on a year-over-year basis. During the same quarter last year, the company posted $2.00 earnings per share. Equities analysts anticipate that Arthur J. Gallagher & Co. will post 10.11 earnings per share for the current fiscal year.

Arthur J. Gallagher & Co. Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Friday, December 6th will be issued a dividend of $0.60 per share. The ex-dividend date is Friday, December 6th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 0.81%. Arthur J. Gallagher & Co.’s dividend payout ratio (DPR) is presently 45.71%.

Wall Street Analyst Weigh In

AJG has been the topic of a number of research reports. UBS Group upped their price target on Arthur J. Gallagher & Co. from $260.00 to $292.00 and gave the stock a “neutral” rating in a report on Wednesday, July 31st. Barclays started coverage on Arthur J. Gallagher & Co. in a research note on Wednesday, September 4th. They set an “equal weight” rating and a $300.00 price target on the stock. TD Cowen upped their price objective on Arthur J. Gallagher & Co. from $273.00 to $288.00 and gave the stock a “hold” rating in a report on Tuesday, August 13th. The Goldman Sachs Group increased their price target on Arthur J. Gallagher & Co. from $272.00 to $286.00 in a report on Friday, July 26th. Finally, Royal Bank of Canada increased their price target on Arthur J. Gallagher & Co. from $310.00 to $320.00 and gave the company an “outperform” rating in a report on Friday, September 20th. Three equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, Arthur J. Gallagher & Co. currently has an average rating of “Hold” and a consensus price target of $289.14.

Insider Activity at Arthur J. Gallagher & Co.

In related news, VP Christopher E. Mead sold 2,800 shares of the firm’s stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $287.00, for a total transaction of $803,600.00. Following the transaction, the vice president now owns 14,674 shares in the company, valued at $4,211,438. This trade represents a 16.02 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Douglas K. Howell sold 7,000 shares of the firm’s stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $284.70, for a total transaction of $1,992,900.00. Following the transaction, the chief financial officer now owns 75,963 shares in the company, valued at $21,626,666.10. This represents a 8.44 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 23,900 shares of company stock worth $6,892,280 over the last quarter. 1.60% of the stock is currently owned by company insiders.

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.