Vaughan Nelson Investment Management L.P. Cuts Holdings in Arthur J. Gallagher & Co. (NYSE:AJG)

Vaughan Nelson Investment Management L.P. lowered its holdings in Arthur J. Gallagher & Co. (NYSE:AJG) by 74.5% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 12,395 shares of the financial services provider’s stock after selling 36,218 shares during the period. Vaughan Nelson Investment Management L.P.’s holdings in Arthur J. Gallagher & Co. were worth $3,214,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Richardson Financial Services Inc. bought a new position in Arthur J. Gallagher & Co. in the 4th quarter worth $27,000. Creekmur Asset Management LLC purchased a new stake in Arthur J. Gallagher & Co. during the first quarter valued at approximately $27,000. Transcendent Capital Group LLC bought a new stake in shares of Arthur J. Gallagher & Co. during the 4th quarter valued at $31,000. Security National Bank bought a new stake in Arthur J. Gallagher & Co. in the 4th quarter valued at $33,000. Finally, DSM Capital Partners LLC bought a new stake in Arthur J. Gallagher & Co. in the 4th quarter valued at $37,000. Institutional investors own 85.53% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have issued reports on AJG shares. Bank Of America (Bofa) boosted their price objective on shares of Arthur J. Gallagher & Co. from $255.00 to $265.00 and gave the company an “underperform” rating in a research report on Friday, July 26th. Royal Bank of Canada boosted their target price on shares of Arthur J. Gallagher & Co. from $290.00 to $310.00 and gave the stock an “outperform” rating in a research report on Friday, July 26th. Keefe, Bruyette & Woods upped their price objective 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. 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 research report on Wednesday, July 31st. Finally, BMO Capital Markets increased their target price on shares of Arthur J. Gallagher & Co. from $275.00 to $295.00 and gave the company an “outperform” rating in a research report on Friday, July 26th. Three analysts have rated the stock with a sell rating, seven have issued a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, Arthur J. Gallagher & Co. presently has a consensus rating of “Hold” and a consensus target price of $275.38.

Insider Transactions at Arthur J. Gallagher & Co.

In other Arthur J. Gallagher & Co. news, Director David S. Johnson sold 850 shares of the company’s stock in a transaction that occurred on Wednesday, May 22nd. The shares were sold at an average price of $257.84, for a total value of $219,164.00. Following the completion of the sale, the director now owns 45,108 shares of the company’s stock, valued at $11,630,646.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, General Counsel Walter D. Bay sold 8,303 shares of the stock in a transaction dated Tuesday, June 18th. The shares were sold at an average price of $262.74, for a total value of $2,181,530.22. Following the transaction, the general counsel now directly owns 36,388 shares of the company’s stock, valued at $9,560,583.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director David S. Johnson sold 850 shares of the firm’s stock in a transaction dated Wednesday, May 22nd. The stock was sold at an average price of $257.84, for a total transaction of $219,164.00. Following the transaction, the director now directly owns 45,108 shares in the company, valued at $11,630,646.72. The disclosure for this sale can be found here. Over the last three months, insiders have sold 49,198 shares of company stock worth $13,562,074. Corporate insiders own 1.60% of the company’s stock.

Arthur J. Gallagher & Co. Price Performance

Shares of NYSE:AJG opened at $285.08 on Monday. The business has a 50-day moving average of $270.46 and a two-hundred day moving average of $253.82. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.04 and a quick ratio of 1.05. Arthur J. Gallagher & Co. has a fifty-two week low of $215.37 and a fifty-two week high of $290.31. The stock has a market capitalization of $62.29 billion, a P/E ratio of 57.71, a P/E/G ratio of 2.41 and a beta of 0.72.

Arthur J. Gallagher & Co. (NYSE:AJG) last issued its earnings results on Thursday, July 25th. The financial services provider reported $2.26 EPS for the quarter, beating analysts’ consensus estimates of $2.24 by $0.02. Arthur J. Gallagher & Co. had a return on equity of 19.25% and a net margin of 10.41%. The business had revenue of $2.73 billion during the quarter, compared to analyst estimates of $2.77 billion. During the same period in the prior year, the company posted $1.90 earnings per share. Arthur J. Gallagher & Co.’s revenue was up 14.3% on a year-over-year basis. On average, equities research analysts predict that Arthur J. Gallagher & Co. will post 10.15 EPS for the current fiscal year.

Arthur J. Gallagher & Co. Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 20th. Stockholders of record on Friday, September 6th will be given a dividend of $0.60 per share. The ex-dividend date of this dividend is Friday, September 6th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 0.84%. Arthur J. Gallagher & Co.’s payout ratio is 48.58%.

About Arthur J. Gallagher & Co.

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.