Prospector Partners LLC Sells 32,699 Shares of Arthur J. Gallagher & Co. $AJG

Prospector Partners LLC reduced its stake in shares of Arthur J. Gallagher & Co. (NYSE:AJG) by 42.1% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 44,964 shares of the financial services provider’s stock after selling 32,699 shares during the quarter. Arthur J. Gallagher & Co. comprises about 1.7% of Prospector Partners LLC’s investment portfolio, making the stock its 20th biggest position. Prospector Partners LLC’s holdings in Arthur J. Gallagher & Co. were worth $13,927,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently modified their holdings of AJG. Physician Wealth Advisors Inc. increased its position in Arthur J. Gallagher & Co. by 870.0% during the third quarter. Physician Wealth Advisors Inc. now owns 97 shares of the financial services provider’s stock valued at $30,000 after acquiring an additional 87 shares during the last quarter. Rakuten Securities Inc. lifted its stake in Arthur J. Gallagher & Co. by 650.0% in the second quarter. Rakuten Securities Inc. now owns 105 shares of the financial services provider’s stock worth $34,000 after purchasing an additional 91 shares during the last quarter. Central Pacific Bank Trust Division boosted its position in shares of Arthur J. Gallagher & Co. by 40.6% during the third quarter. Central Pacific Bank Trust Division now owns 135 shares of the financial services provider’s stock valued at $42,000 after buying an additional 39 shares during the period. Westside Investment Management Inc. grew its stake in shares of Arthur J. Gallagher & Co. by 100.0% during the third quarter. Westside Investment Management Inc. now owns 136 shares of the financial services provider’s stock valued at $42,000 after buying an additional 68 shares during the last quarter. Finally, Solstein Capital LLC bought a new stake in shares of Arthur J. Gallagher & Co. during the 2nd quarter worth approximately $49,000. Institutional investors own 85.53% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on AJG. Mizuho set a $277.00 price target on shares of Arthur J. Gallagher & Co. in a report on Wednesday, January 14th. Barclays lowered their target price on Arthur J. Gallagher & Co. from $250.00 to $247.00 and set an “underweight” rating for the company in a report on Thursday, January 8th. TD Cowen restated a “buy” rating on shares of Arthur J. Gallagher & Co. in a report on Friday, October 31st. Needham & Company LLC set a $272.00 target price on shares of Arthur J. Gallagher & Co. in a research report on Thursday, December 18th. Finally, Morgan Stanley set a $300.00 price target on shares of Arthur J. Gallagher & Co. in a research report on Friday, December 19th. Six research analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $284.12.

Arthur J. Gallagher & Co. Stock Performance

Shares of AJG opened at $214.58 on Thursday. Arthur J. Gallagher & Co. has a 12 month low of $195.00 and a 12 month high of $351.23. The stock has a fifty day moving average price of $247.75 and a 200-day moving average price of $269.15. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 0.52. The firm has a market cap of $55.10 billion, a PE ratio of 34.89, a P/E/G ratio of 1.16 and a beta of 0.66.

Arthur J. Gallagher & Co. (NYSE:AJG) last issued its quarterly earnings results on Thursday, January 29th. The financial services provider reported $2.38 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 business had revenue of $3.57 billion for the quarter, compared to analyst estimates of $3.61 billion. During the same quarter in the prior year, the business posted $1.12 EPS. Arthur J. Gallagher & Co.’s revenue for the quarter was up 33.9% compared to the same quarter last year. Equities research analysts predict 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 announced a quarterly dividend, which will be paid on Friday, March 20th. Investors of record on Friday, March 6th will be issued a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a dividend yield of 1.3%. This is a boost from Arthur J. Gallagher & Co.’s previous quarterly dividend of $0.65. The ex-dividend date of this dividend is Friday, March 6th. Arthur J. Gallagher & Co.’s dividend payout ratio is 42.28%.

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

In other news, CFO Douglas K. Howell sold 5,000 shares of the stock in a transaction dated Monday, December 22nd. The shares were sold at an average price of $258.05, for a total transaction of $1,290,250.00. Following the sale, the chief financial officer directly owned 95,777 shares of the company’s stock, valued at $24,715,254.85. This represents a 4.96% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Christopher E. Mead sold 4,000 shares of the company’s stock in a transaction dated Tuesday, December 23rd. The stock was sold at an average price of $258.11, for a total value of $1,032,440.00. Following the completion of the transaction, the vice president directly owned 17,327 shares of the company’s stock, valued at $4,472,271.97. The trade was a 18.76% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 26,100 shares of company stock valued at $6,677,865. 1.60% of the stock is owned by insiders.

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.