Corient Private Wealth LLC Lowers Stock Holdings in Arthur J. Gallagher & Co. $AJG

Corient Private Wealth LLC cut its stake in shares of Arthur J. Gallagher & Co. (NYSE:AJG) by 13.1% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 64,874 shares of the financial services provider’s stock after selling 9,763 shares during the quarter. Corient Private Wealth LLC’s holdings in Arthur J. Gallagher & Co. were worth $20,768,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of the company. Factory Mutual Insurance Co. increased its position in Arthur J. Gallagher & Co. by 107.1% during the 2nd quarter. Factory Mutual Insurance Co. now owns 14,500 shares of the financial services provider’s stock valued at $4,642,000 after purchasing an additional 7,500 shares during the period. Fairfield Financial Advisors LTD increased its holdings in Arthur J. Gallagher & Co. by 21.4% during the second quarter. Fairfield Financial Advisors LTD now owns 9,961 shares of the financial services provider’s stock valued at $3,189,000 after buying an additional 1,758 shares during the period. Petra Financial Advisors Inc. bought a new position in Arthur J. Gallagher & Co. in the second quarter worth approximately $812,000. Boston Partners lifted its holdings in Arthur J. Gallagher & Co. by 0.4% during the second quarter. Boston Partners now owns 735,759 shares of the financial services provider’s stock worth $234,226,000 after buying an additional 2,806 shares during the period. Finally, Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in Arthur J. Gallagher & Co. by 4.2% during the 2nd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 2,381,835 shares of the financial services provider’s stock valued at $762,473,000 after acquiring an additional 94,940 shares in the last quarter. Hedge funds and other institutional investors own 85.53% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently commented on AJG. Mizuho assumed coverage on Arthur J. Gallagher & Co. in a research report on Monday. They issued a “neutral” rating and a $276.00 price target for the company. Evercore ISI reduced their target price on shares of Arthur J. Gallagher & Co. from $353.00 to $334.00 and set an “outperform” rating for the company in a report on Wednesday. Wall Street Zen cut shares of Arthur J. Gallagher & Co. from a “hold” rating to a “sell” rating in a report on Saturday, November 1st. Weiss Ratings reiterated a “hold (c+)” rating on shares of Arthur J. Gallagher & Co. in a research note on Monday. Finally, Wells Fargo & Company decreased their target price on shares of Arthur J. Gallagher & Co. from $362.00 to $344.00 and set an “overweight” rating for the company in a research report on Friday, December 5th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Arthur J. Gallagher & Co. presently has an average rating of “Hold” and a consensus target price of $305.44.

Insider Transactions at Arthur J. Gallagher & Co.

In related news, CFO Douglas K. Howell sold 8,000 shares of Arthur J. Gallagher & Co. stock in a transaction dated Monday, September 22nd. The stock was sold at an average price of $299.54, for a total transaction of $2,396,320.00. Following the completion of the sale, the chief financial officer owned 100,777 shares of the company’s stock, valued at $30,186,742.58. The trade was a 7.35% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Richard C. Cary sold 6,000 shares of the stock in a transaction that occurred on Tuesday, November 18th. The stock was sold at an average price of $261.00, for a total transaction of $1,566,000.00. Following the completion of the transaction, the chief accounting officer owned 50,668 shares in the company, valued at approximately $13,224,348. This trade represents a 10.59% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 21,250 shares of company stock valued at $6,071,365. 1.60% of the stock is owned by company insiders.

Arthur J. Gallagher & Co. Stock Down 0.4%

NYSE:AJG opened at $250.87 on Thursday. The company’s 50 day moving average is $260.24 and its two-hundred day moving average is $290.59. The company has a market cap of $64.42 billion, a PE ratio of 37.50 and a beta of 0.69. Arthur J. Gallagher & Co. has a twelve month low of $236.34 and a twelve month 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.

Arthur J. Gallagher & Co. (NYSE:AJG) last posted its quarterly earnings data on Thursday, October 30th. The financial services provider reported $2.32 EPS for the quarter, missing the consensus estimate 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 company had revenue of $3.33 billion for the quarter, compared to analyst estimates of $3.34 billion. During the same quarter in the previous year, the firm posted $2.26 earnings per share. The company’s quarterly revenue was up 20.2% on a year-over-year basis. Analysts anticipate that Arthur J. Gallagher & Co. will post 11.54 EPS for the current year.

Arthur J. Gallagher & Co. Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 19th. Stockholders of record on Friday, December 5th will be issued a $0.65 dividend. The ex-dividend date of this dividend is Friday, December 5th. This represents a $2.60 dividend on an annualized basis and a dividend yield of 1.0%. Arthur J. Gallagher & Co.’s dividend payout ratio is currently 38.86%.

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.