United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund Sells 6,116 Shares of Arthur J. Gallagher & Co. $AJG
by Renee Jackson · The Cerbat GemUnited Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund trimmed its holdings in shares of Arthur J. Gallagher & Co. (NYSE:AJG – Free Report) by 4.0% in the second quarter, HoldingsChannel reports. The firm owned 146,105 shares of the financial services provider’s stock after selling 6,116 shares during the period. Arthur J. Gallagher & Co. makes up 1.8% of United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund’s portfolio, making the stock its 17th biggest position. United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund’s holdings in Arthur J. Gallagher & Co. were worth $46,771,000 at the end of the most recent quarter.
Several other large investors also recently made changes to their positions in the business. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Arthur J. Gallagher & Co. by 14.6% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 54,118 shares of the financial services provider’s stock valued at $18,684,000 after buying an additional 6,882 shares during the last quarter. LPL Financial LLC raised its stake in shares of Arthur J. Gallagher & Co. by 23.5% in the first quarter. LPL Financial LLC now owns 225,382 shares of the financial services provider’s stock worth $77,811,000 after acquiring an additional 42,912 shares during the last quarter. Mackenzie Financial Corp lifted its position in shares of Arthur J. Gallagher & Co. by 4.0% during the first quarter. Mackenzie Financial Corp now owns 130,570 shares of the financial services provider’s stock worth $45,078,000 after purchasing an additional 4,982 shares in the last quarter. Norden Group LLC bought a new stake in shares of Arthur J. Gallagher & Co. during the first quarter valued at approximately $256,000. Finally, Foundations Investment Advisors LLC raised its position in Arthur J. Gallagher & Co. by 5.8% in the 1st quarter. Foundations Investment Advisors LLC now owns 1,114 shares of the financial services provider’s stock worth $385,000 after purchasing an additional 61 shares during the last quarter. Institutional investors own 85.53% of the company’s stock.
Insider Buying and Selling at Arthur J. Gallagher & Co.
In related news, VP Scott R. Hudson sold 12,855 shares of the stock in a transaction on Monday, September 8th. The shares were sold at an average price of $297.60, for a total transaction of $3,825,648.00. Following the completion of the transaction, the vice president owned 85,920 shares in the company, valued at approximately $25,569,792. This represents a 13.01% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Douglas K. Howell sold 8,000 shares of the business’s 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 sale, the chief financial officer directly owned 100,777 shares in the company, valued at $30,186,742.58. This trade represents a 7.35% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 37,105 shares of company stock valued at $10,796,353 in the last 90 days. 1.60% of the stock is currently owned by corporate insiders.
Arthur J. Gallagher & Co. Trading Down 0.6%
NYSE:AJG opened at $248.72 on Thursday. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.36 and a quick ratio of 1.36. The business’s 50-day simple moving average is $277.86 and its 200-day simple moving average is $300.25. Arthur J. Gallagher & Co. has a fifty-two week low of $239.47 and a fifty-two week high of $351.23. The stock has a market capitalization of $63.87 billion, a PE ratio of 35.33 and a beta of 0.71.
Arthur J. Gallagher & Co. (NYSE:AJG – Get Free Report) last announced its earnings results 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). The company had revenue of $3.33 billion for the quarter, compared to analyst estimates of $3.34 billion. Arthur J. Gallagher & Co. had a return on equity of 13.17% and a net margin of 14.54%.The business’s quarterly revenue was up 20.2% on a year-over-year basis. During the same quarter last year, the business posted $2.26 earnings per share. Sell-side analysts expect that Arthur J. Gallagher & Co. will post 11.54 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, December 19th. Stockholders of record on Friday, December 5th will be issued a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date is Friday, December 5th. Arthur J. Gallagher & Co.’s payout ratio is 38.86%.
Analyst Upgrades and Downgrades
Several equities research analysts have recently commented on the company. Cowen reissued a “buy” rating on shares of Arthur J. Gallagher & Co. in a research note on Friday, October 31st. Wolfe Research assumed coverage on Arthur J. Gallagher & Co. in a report on Thursday, November 20th. They set an “outperform” rating and a $291.00 price objective for the company. Weiss Ratings cut shares of Arthur J. Gallagher & Co. from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Tuesday. Keefe, Bruyette & Woods cut their price objective on shares of Arthur J. Gallagher & Co. from $315.00 to $275.00 and set a “market perform” rating on the stock in a report on Friday, October 31st. Finally, Barclays cut shares of Arthur J. Gallagher & Co. from an “equal weight” rating to an “underweight” rating and dropped their target price for the company from $328.00 to $250.00 in a research report on Thursday, November 20th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, eight have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Arthur J. Gallagher & Co. currently has a consensus rating of “Moderate Buy” and a consensus target price of $316.33.
Check Out Our Latest Stock Report on AJG
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.
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