Romano Brothers AND Company Sells 134 Shares of Arthur J. Gallagher & Co. (NYSE:AJG)

Romano Brothers AND Company trimmed its position in Arthur J. Gallagher & Co. (NYSE:AJG) by 0.8% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 16,025 shares of the financial services provider’s stock after selling 134 shares during the period. Romano Brothers AND Company’s holdings in Arthur J. Gallagher & Co. were worth $4,509,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in AJG. Mark Sheptoff Financial Planning LLC bought a new stake in Arthur J. Gallagher & Co. during the second quarter valued at $26,000. Strategic Investment Solutions Inc. IL purchased a new position in shares of Arthur J. Gallagher & Co. during the second quarter worth about $26,000. Creekmur Asset Management LLC purchased a new stake in Arthur J. Gallagher & Co. in the first quarter valued at approximately $27,000. DiNuzzo Private Wealth Inc. lifted its position in Arthur J. Gallagher & Co. by 89.7% during the second 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 last quarter. Finally, Quarry LP purchased a new stake in shares of Arthur J. Gallagher & Co. during the 2nd quarter valued at $29,000. 85.53% of the stock is currently owned by hedge funds and other institutional investors.

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

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 stock was sold at an average price of $282.96, for a total transaction of $4,244,400.00. Following the completion of the transaction, 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CFO Douglas K. Howell sold 8,710 shares of the business’s stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $285.07, for a total value of $2,482,959.70. Following the completion of the transaction, the chief financial officer now owns 75,963 shares in the company, valued at $21,654,772.41. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, President Thomas Joseph Gallagher sold 15,000 shares of Arthur J. Gallagher & Co. stock in a transaction dated Thursday, August 8th. The stock was 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. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 44,145 shares of company stock valued at $12,622,660. Corporate insiders own 1.60% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. Royal Bank of Canada lifted their price target on shares of Arthur J. Gallagher & Co. from $310.00 to $320.00 and gave the stock an “outperform” rating in a research note on Friday, September 20th. Barclays initiated coverage on shares of Arthur J. Gallagher & Co. in a research report on Wednesday, September 4th. They set an “equal weight” rating and a $300.00 price target for the company. Wells Fargo & Company lifted their price objective on Arthur J. Gallagher & Co. from $309.00 to $315.00 and gave the stock an “overweight” rating in a report on Thursday, October 10th. BMO Capital Markets increased their target price on Arthur J. Gallagher & Co. from $275.00 to $295.00 and gave the company an “outperform” rating in a report on Friday, July 26th. Finally, The Goldman Sachs Group lifted their price target on Arthur J. Gallagher & Co. from $272.00 to $286.00 in a research note on Friday, July 26th. 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 company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $287.00.

Arthur J. Gallagher & Co. Trading Up 0.6 %

AJG opened at $288.93 on Thursday. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.67. 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 $63.13 billion, a PE ratio of 58.49, a PEG ratio of 2.53 and a beta of 0.72. The business has a 50 day moving average of $289.20 and a 200-day moving average of $268.76.

Arthur J. Gallagher & Co. (NYSE:AJG) last announced its quarterly earnings data on Thursday, July 25th. The financial services provider reported $2.26 EPS for the quarter, beating the consensus estimate of $2.24 by $0.02. The business had revenue of $2.73 billion during the quarter, compared to analyst estimates of $2.77 billion. Arthur J. Gallagher & Co. had a return on equity of 19.25% and a net margin of 10.41%. The company’s revenue for the quarter was up 14.3% on a year-over-year basis. During the same quarter last year, the firm posted $1.90 earnings per share. Equities research analysts predict that Arthur J. Gallagher & Co. will post 10.11 earnings per share for the current fiscal year.

Arthur J. Gallagher & Co. Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Friday, December 6th will be issued a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 0.83%. Arthur J. Gallagher & Co.’s dividend payout ratio (DPR) is presently 48.58%.

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.