Parsons Capital Management Inc. RI Purchases New Holdings in Arthur J. Gallagher & Co. (NYSE:AJG)

Parsons Capital Management Inc. RI acquired a new position in Arthur J. Gallagher & Co. (NYSE:AJG) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 4,050 shares of the financial services provider’s stock, valued at approximately $1,050,000.

A number of other institutional investors have also recently bought and sold shares of AJG. UBS Group AG raised its holdings in shares of Arthur J. Gallagher & Co. by 8.5% in the 4th quarter. UBS Group AG now owns 361,441 shares of the financial services provider’s stock worth $81,281,000 after purchasing an additional 28,359 shares during the period. Norden Group LLC purchased a new position in shares of Arthur J. Gallagher & Co. during the 1st quarter valued at $3,841,000. Brookstone Capital Management increased its holdings in Arthur J. Gallagher & Co. by 70.4% in the 1st quarter. Brookstone Capital Management now owns 12,851 shares of the financial services provider’s stock worth $3,213,000 after acquiring an additional 5,308 shares during the last quarter. Sei Investments Co. raised its stake in Arthur J. Gallagher & Co. by 11.7% in the 1st quarter. Sei Investments Co. now owns 194,568 shares of the financial services provider’s stock valued at $48,649,000 after acquiring an additional 20,302 shares during the period. Finally, Nomura Holdings Inc. purchased a new stake in Arthur J. Gallagher & Co. during the fourth quarter valued at about $979,000. Institutional investors own 85.53% of the company’s stock.

Arthur J. Gallagher & Co. Stock Performance

Arthur J. Gallagher & Co. stock opened at $287.26 on Tuesday. The firm has a fifty day simple moving average of $271.09 and a two-hundred day simple moving average of $254.20. The company has a quick ratio of 1.05, a current ratio of 1.04 and a debt-to-equity ratio of 0.67. Arthur J. Gallagher & Co. has a twelve month low of $218.63 and a twelve month high of $290.31. The company has a market capitalization of $62.77 billion, a PE ratio of 57.99, a P/E/G ratio of 2.41 and a beta of 0.72.

Arthur J. Gallagher & Co. (NYSE:AJG) last released its earnings results on Thursday, July 25th. The financial services provider reported $2.26 earnings per share 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 company had revenue of $2.73 billion during the quarter, compared to analyst estimates of $2.77 billion. During the same quarter in the previous year, the company posted $1.90 EPS. Arthur J. Gallagher & Co.’s revenue for the quarter was up 14.3% on a year-over-year basis. Research analysts expect that Arthur J. Gallagher & Co. will post 10.15 EPS for the current year.

Arthur J. Gallagher & Co. Announces Dividend

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

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. Wells Fargo & Company lifted their target price on shares of Arthur J. Gallagher & Co. from $282.00 to $301.00 and gave the stock an “overweight” rating in a research note on Friday, July 26th. TD Cowen increased their target price on Arthur J. Gallagher & Co. from $273.00 to $288.00 and gave the stock a “hold” rating in a research report on Tuesday, August 13th. Keefe, Bruyette & Woods raised their price target on Arthur J. Gallagher & Co. from $241.00 to $252.00 and gave the stock an “underperform” rating in a report on Friday, July 26th. The Goldman Sachs Group boosted their price objective on Arthur J. Gallagher & Co. from $272.00 to $286.00 in a research note on Friday, July 26th. Finally, Bank Of America (Bofa) lifted their target price on Arthur J. Gallagher & Co. from $255.00 to $265.00 and gave the company an “underperform” rating in a report on Friday, July 26th. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $275.38.

Insider Buying and Selling

In other Arthur J. Gallagher & Co. news, Director David S. Johnson sold 850 shares of the firm’s stock in a transaction 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 sale, the director now owns 45,108 shares of the company’s stock, valued at approximately $11,630,646.72. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, VP Scott R. Hudson sold 10,000 shares of the business’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 owns 93,730 shares of the company’s stock, valued at $24,693,168.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director David S. Johnson sold 850 shares of the firm’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 transaction of $219,164.00. Following the transaction, the director now directly owns 45,108 shares of the company’s stock, valued at approximately $11,630,646.72. The disclosure for this sale can be found here. Insiders have sold a total of 49,198 shares of company stock valued at $13,562,074 over the last three months. 1.60% of the stock is owned by company insiders.

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.