Pinnacle Associates Ltd. Has $412,000 Stake in Arthur J. Gallagher & Co. (NYSE:AJG)

Pinnacle Associates Ltd. reduced its stake in Arthur J. Gallagher & Co. (NYSE:AJG) by 63.0% in the 3rd quarter, Holdings Channel reports. The firm owned 1,466 shares of the financial services provider’s stock after selling 2,497 shares during the period. Pinnacle Associates Ltd.’s holdings in Arthur J. Gallagher & Co. were worth $412,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in AJG. Strategic Investment Solutions Inc. IL bought a new stake in shares of Arthur J. Gallagher & Co. during the 2nd quarter worth $26,000. Mark Sheptoff Financial Planning LLC bought a new stake in Arthur J. Gallagher & Co. during the second quarter valued at about $26,000. Creekmur Asset Management LLC acquired a new stake in shares of Arthur J. Gallagher & Co. in the first quarter valued at about $27,000. DiNuzzo Private Wealth Inc. lifted its position in shares of Arthur J. Gallagher & Co. by 89.7% during the 2nd quarter. DiNuzzo Private Wealth Inc. now owns 110 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 52 shares during the last quarter. Finally, Quarry LP bought a new stake in Arthur J. Gallagher & Co. during the 2nd quarter valued at approximately $29,000. Institutional investors and hedge funds own 85.53% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on AJG shares. Bank Of America (Bofa) upped their price target on Arthur J. Gallagher & Co. from $255.00 to $265.00 and gave the stock an “underperform” rating in a report on Friday, July 26th. Keefe, Bruyette & Woods increased their price target on shares of Arthur J. Gallagher & Co. from $241.00 to $252.00 and gave the company an “underperform” rating in a report on Friday, July 26th. Barclays started coverage on shares of Arthur J. Gallagher & Co. in a report on Wednesday, September 4th. They set an “equal weight” rating and a $300.00 price objective on the stock. Jefferies Financial Group increased their target price on shares of Arthur J. Gallagher & Co. from $269.00 to $274.00 and gave the company a “hold” rating in a research note on Wednesday, October 9th. Finally, Royal Bank of Canada boosted their price target on Arthur J. Gallagher & Co. from $310.00 to $320.00 and gave the company an “outperform” rating in a research note on Friday, September 20th. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, Arthur J. Gallagher & Co. has a consensus rating of “Hold” and a consensus target price of $287.00.

Insider Buying and Selling at Arthur J. Gallagher & Co.

In other news, CFO Douglas K. Howell sold 7,000 shares of the firm’s stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $284.68, for a total value of $1,992,760.00. Following the completion of the sale, the chief financial officer now directly owns 75,963 shares in the company, valued at approximately $21,625,146.84. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. In related news, President Thomas Joseph Gallagher sold 15,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $282.96, for a total value of $4,244,400.00. Following the completion of the sale, the president now owns 329,099 shares of the company’s stock, valued at $93,121,853.04. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Douglas K. Howell sold 7,000 shares of the company’s stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $284.68, for a total value of $1,992,760.00. Following the transaction, the chief financial officer now directly owns 75,963 shares in the company, valued at approximately $21,625,146.84. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 38,900 shares of company stock worth $11,136,680. 1.60% of the stock is currently owned by insiders.

Arthur J. Gallagher & Co. Stock Down 0.3 %

Shares of NYSE AJG opened at $280.40 on Monday. The business has a fifty day moving average of $288.69 and a two-hundred day moving average of $271.30. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.04 and a current ratio of 1.06. Arthur J. Gallagher & Co. has a 52-week low of $218.63 and a 52-week high of $301.04. The stock has a market cap of $61.52 billion, a PE ratio of 53.41, a PEG ratio of 2.39 and a beta of 0.72.

Arthur J. Gallagher & Co. (NYSE:AJG) last released its quarterly earnings results on Thursday, October 24th. The financial services provider reported $2.26 EPS for the quarter, meeting analysts’ consensus estimates of $2.26. The firm had revenue of $2.77 billion for the quarter, compared to analyst estimates of $2.78 billion. Arthur J. Gallagher & Co. had a net margin of 10.40% and a return on equity of 19.12%. The company’s revenue for the quarter was up 12.8% compared to the same quarter last year. During the same period in the previous year, the business earned $2.00 earnings per share. As a group, equities research analysts expect that Arthur J. Gallagher & Co. will post 10.12 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. Investors of record on Friday, December 6th will be issued a dividend of $0.60 per share. The ex-dividend date of this dividend is Friday, December 6th. This represents a $2.40 dividend on an annualized basis and a yield of 0.86%. Arthur J. Gallagher & Co.’s dividend payout ratio is 45.71%.

Arthur J. Gallagher & Co. Company Profile

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.