Cibc World Market Inc. Has $10.93 Million Stake in Arthur J. Gallagher & Co. $AJG

Cibc World Market Inc. reduced its holdings in shares of Arthur J. Gallagher & Co. (NYSE:AJG) by 7.1% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 35,295 shares of the financial services provider’s stock after selling 2,697 shares during the period. Cibc World Market Inc.’s holdings in Arthur J. Gallagher & Co. were worth $10,932,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in AJG. Caprock Group LLC bought a new stake in Arthur J. Gallagher & Co. in the third quarter worth approximately $9,877,000. Center for Financial Planning Inc. grew its position in shares of Arthur J. Gallagher & Co. by 96.4% during the 3rd quarter. Center for Financial Planning Inc. now owns 1,051 shares of the financial services provider’s stock worth $326,000 after buying an additional 516 shares during the period. Stratos Wealth Partners LTD. increased its stake in shares of Arthur J. Gallagher & Co. by 2.8% in the 3rd quarter. Stratos Wealth Partners LTD. now owns 23,885 shares of the financial services provider’s stock valued at $7,398,000 after acquiring an additional 660 shares in the last quarter. Stratos Wealth Advisors LLC lifted its position in shares of Arthur J. Gallagher & Co. by 17.1% during the 3rd quarter. Stratos Wealth Advisors LLC now owns 1,495 shares of the financial services provider’s stock valued at $463,000 after acquiring an additional 218 shares during the period. Finally, Cincinnati Financial Corp bought a new position in Arthur J. Gallagher & Co. during the third quarter worth $42,824,000. 85.53% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, VP Christopher E. Mead sold 4,000 shares of Arthur J. Gallagher & Co. stock in a transaction on Tuesday, December 23rd. The stock was sold at an average price of $258.11, for a total transaction of $1,032,440.00. Following the sale, the vice president directly owned 17,327 shares in the company, valued at $4,472,271.97. The trade was a 18.76% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, General Counsel Walter D. Bay sold 15,850 shares of the stock in a transaction dated Friday, December 19th. The shares were sold at an average price of $255.00, for a total transaction of $4,041,750.00. Following the transaction, the general counsel owned 79,549 shares of the company’s stock, valued at approximately $20,284,995. The trade was a 16.61% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 32,100 shares of company stock valued at $8,243,865. 1.60% of the stock is owned by insiders.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the stock. Mizuho set a $277.00 price target on shares of Arthur J. Gallagher & Co. in a research note on Wednesday, January 14th. TD Cowen reaffirmed a “buy” rating on shares of Arthur J. Gallagher & Co. in a research note on Friday, October 31st. Cantor Fitzgerald reissued a “neutral” rating on shares of Arthur J. Gallagher & Co. in a research note on Friday, January 30th. Needham & Company LLC set a $272.00 target price on Arthur J. Gallagher & Co. in a research report on Thursday, December 18th. Finally, Wells Fargo & Company reduced their price target on shares of Arthur J. Gallagher & Co. from $311.00 to $298.00 and set an “overweight” rating for the company in a research report on Friday, January 30th. Six equities research analysts have rated the stock with a Buy rating, twelve have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Arthur J. Gallagher & Co. presently has an average rating of “Hold” and a consensus price target of $284.12.

Arthur J. Gallagher & Co. Price Performance

AJG opened at $208.22 on Friday. Arthur J. Gallagher & Co. has a 1 year low of $195.00 and a 1 year high of $351.23. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.06 and a quick ratio of 1.06. The company has a market capitalization of $53.47 billion, a price-to-earnings ratio of 33.86, a P/E/G ratio of 1.11 and a beta of 0.66. The firm’s fifty day moving average price is $249.37 and its two-hundred day moving average price is $270.81.

Arthur J. Gallagher & Co. (NYSE:AJG) last announced its earnings results on Thursday, January 29th. The financial services provider reported $2.38 EPS for the quarter, beating the consensus estimate of $2.35 by $0.03. Arthur J. Gallagher & Co. had a net margin of 11.84% and a return on equity of 12.13%. The company had revenue of $3.57 billion during the quarter, compared to the consensus estimate of $3.61 billion. During the same quarter in the prior year, the company posted $1.12 earnings per share. The firm’s revenue for the quarter was up 33.9% on a year-over-year basis. As a group, analysts anticipate that Arthur J. Gallagher & Co. will post 11.54 earnings per share for the current fiscal year.

Arthur J. Gallagher & Co. Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 20th. Investors of record on Friday, March 6th will be given a dividend of $0.70 per share. The ex-dividend date of this dividend is Friday, March 6th. This is a positive change from Arthur J. Gallagher & Co.’s previous quarterly dividend of $0.65. This represents a $2.80 dividend on an annualized basis and a dividend yield of 1.3%. Arthur J. Gallagher & Co.’s dividend payout ratio (DPR) is 45.53%.

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.