Oxbow Advisors LLC Reduces Position in Arthur J. Gallagher & Co. (NYSE:AJG)

Oxbow Advisors LLC trimmed its position in Arthur J. Gallagher & Co. (NYSE:AJG) by 0.5% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 14,424 shares of the financial services provider’s stock after selling 73 shares during the period. Oxbow Advisors LLC’s holdings in Arthur J. Gallagher & Co. were worth $3,740,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in AJG. Creekmur Asset Management LLC purchased a new position in shares of Arthur J. Gallagher & Co. in the first quarter valued at about $27,000. DiNuzzo Private Wealth Inc. increased its holdings in 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 valued at $29,000 after purchasing an additional 52 shares during the period. Richardson Financial Services Inc. bought a new position in Arthur J. Gallagher & Co. during the 4th quarter valued at approximately $27,000. Transcendent Capital Group LLC purchased a new stake in Arthur J. Gallagher & Co. in the 4th quarter worth approximately $31,000. Finally, Security National Bank bought a new stake in shares of Arthur J. Gallagher & Co. in the 4th quarter worth approximately $33,000. 85.53% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. TD Cowen upped their target price on Arthur J. Gallagher & Co. from $273.00 to $288.00 and gave the company a “hold” rating in a report on Tuesday, August 13th. UBS Group upped their price objective on shares of Arthur J. Gallagher & Co. from $260.00 to $292.00 and gave the stock a “neutral” rating in a report on Wednesday, July 31st. Wells Fargo & Company lifted their target price on shares of Arthur J. Gallagher & Co. from $282.00 to $301.00 and gave the company an “overweight” rating in a research note on Friday, July 26th. The Goldman Sachs Group increased their price target on shares of Arthur J. Gallagher & Co. from $272.00 to $286.00 in a research note on Friday, July 26th. Finally, Piper Sandler lifted their price objective on Arthur J. Gallagher & Co. from $252.00 to $254.00 and gave the company a “neutral” rating in a research report on Friday, July 26th. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $276.82.

Arthur J. Gallagher & Co. Stock Down 0.3 %

Arthur J. Gallagher & Co. stock traded down $0.76 during mid-day trading on Friday, hitting $294.19. The company had a trading volume of 671,525 shares, compared to its average volume of 826,065. Arthur J. Gallagher & Co. has a 12 month low of $218.63 and a 12 month high of $298.24. The company has a market capitalization of $64.28 billion, a PE ratio of 59.55, a price-to-earnings-growth ratio of 2.46 and a beta of 0.72. The stock’s 50 day moving average price is $279.84 and its two-hundred day moving average price is $259.28. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.67.

Arthur J. Gallagher & Co. (NYSE:AJG) last announced its quarterly earnings results on Thursday, July 25th. The financial services provider reported $2.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.24 by $0.02. The company had revenue of $2.73 billion for the quarter, compared to analysts’ expectations of $2.77 billion. Arthur J. Gallagher & Co. had a net margin of 10.41% and a return on equity of 19.25%. Arthur J. Gallagher & Co.’s revenue was up 14.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.90 EPS. As a group, sell-side analysts anticipate that Arthur J. Gallagher & Co. will post 10.16 earnings per share for the current fiscal year.

Arthur J. Gallagher & Co. Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, September 20th. Investors of record on Friday, September 6th will be given a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 0.82%. The ex-dividend date of this dividend is Friday, September 6th. Arthur J. Gallagher & Co.’s dividend payout ratio (DPR) is currently 48.58%.

Insider Buying and Selling

In other Arthur J. Gallagher & Co. news, CFO Douglas K. Howell sold 8,710 shares of the stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $285.07, for a total transaction of $2,482,959.70. Following the sale, the chief financial officer now directly owns 75,963 shares in the company, valued at approximately $21,654,772.41. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Arthur J. Gallagher & Co. news, CFO Douglas K. Howell sold 8,710 shares of the company’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $285.07, for a total transaction of $2,482,959.70. Following the transaction, the chief financial officer now owns 75,963 shares in the company, valued at approximately $21,654,772.41. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Scott R. Hudson sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, June 18th. The shares were sold at an average price of $263.45, for a total transaction of $2,634,500.00. Following the sale, the vice president now directly owns 93,730 shares in the company, valued at approximately $24,693,168.50. The disclosure for this sale can be found here. Insiders sold a total of 48,348 shares of company stock worth $13,342,910 in the last three months. Insiders own 1.60% of the company’s stock.

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.