Kelly Financial Services LLC Makes New $220,000 Investment in Arthur J. Gallagher & Co. (NYSE:AJG)

Kelly Financial Services LLC acquired a new stake in Arthur J. Gallagher & Co. (NYSE:AJG) in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 637 shares of the financial services provider’s stock, valued at approximately $220,000.

Other large investors have also added to or reduced their stakes in the company. Norges Bank acquired a new position in Arthur J. Gallagher & Co. in the 4th quarter valued at approximately $1,421,591,000. Vanguard Group Inc. boosted its holdings in Arthur J. Gallagher & Co. by 14.9% in the fourth quarter. Vanguard Group Inc. now owns 29,672,134 shares of the financial services provider’s stock valued at $8,422,435,000 after acquiring an additional 3,851,661 shares during the last quarter. Winslow Capital Management LLC bought a new position in Arthur J. Gallagher & Co. during the 4th quarter worth approximately $719,489,000. Capital World Investors lifted its holdings in Arthur J. Gallagher & Co. by 30.4% in the fourth quarter. Capital World Investors now owns 8,199,413 shares of the financial services provider’s stock valued at $2,327,403,000 after buying an additional 1,910,471 shares during the period. Finally, Wellington Management Group LLP boosted its position in Arthur J. Gallagher & Co. by 162.0% during the fourth quarter. Wellington Management Group LLP now owns 2,822,319 shares of the financial services provider’s stock valued at $801,115,000 after acquiring an additional 1,745,283 shares during the last quarter. Institutional investors own 85.53% of the company’s stock.

Wall Street Analyst Weigh In

AJG has been the subject of several recent analyst reports. Wells Fargo & Company reduced their price objective on shares of Arthur J. Gallagher & Co. from $372.00 to $371.00 and set an “overweight” rating for the company in a research report on Monday. Barclays boosted their price target on shares of Arthur J. Gallagher & Co. from $308.00 to $346.00 and gave the company an “equal weight” rating in a research note on Friday, April 11th. Redburn Atlantic began coverage on shares of Arthur J. Gallagher & Co. in a report on Tuesday, March 25th. They issued a “neutral” rating and a $352.00 target price for the company. Keefe, Bruyette & Woods boosted their price target on shares of Arthur J. Gallagher & Co. from $315.00 to $326.00 and gave the stock a “market perform” rating in a report on Thursday, June 5th. Finally, Jefferies Financial Group dropped their target price on shares of Arthur J. Gallagher & Co. from $266.00 to $265.00 and set a “hold” rating on the stock in a research report on Friday, April 11th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $319.29.

Arthur J. Gallagher & Co. Price Performance

Shares of Arthur J. Gallagher & Co. stock opened at $312.96 on Thursday. The business’s 50-day moving average price is $331.21 and its 200-day moving average price is $317.09. The firm has a market capitalization of $80.15 billion, a PE ratio of 48.00 and a beta of 0.74. Arthur J. Gallagher & Co. has a 12 month low of $251.42 and a 12 month high of $351.23. The company has a current ratio of 1.51, a quick ratio of 1.51 and a debt-to-equity ratio of 0.63.

Arthur J. Gallagher & Co. (NYSE:AJG) last posted its quarterly earnings results on Thursday, May 1st. The financial services provider reported $3.67 EPS for the quarter, topping the consensus estimate of $3.57 by $0.10. The firm had revenue of $3.69 billion for the quarter, compared to the consensus estimate of $3.85 billion. Arthur J. Gallagher & Co. had a net margin of 12.70% and a return on equity of 16.47%. The business’s revenue was up 14.5% compared to the same quarter last year. During the same period last year, the firm posted $3.45 earnings per share. Sell-side analysts forecast that Arthur J. Gallagher & Co. will post 11.54 EPS for the current fiscal year.

Arthur J. Gallagher & Co. Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 20th. Stockholders of record on Friday, June 6th will be issued a $0.65 dividend. The ex-dividend date of this dividend is Friday, June 6th. This represents a $2.60 annualized dividend and a dividend yield of 0.83%. Arthur J. Gallagher & Co.’s dividend payout ratio is currently 37.63%.

Insider Activity at Arthur J. Gallagher & Co.

In other Arthur J. Gallagher & Co. news, VP Scott R. Hudson sold 7,510 shares of the business’s stock in a transaction that occurred on Friday, March 21st. The stock was sold at an average price of $333.59, for a total value of $2,505,260.90. Following the completion of the sale, the vice president now owns 90,020 shares in the company, valued at approximately $30,029,771.80. The trade was a 7.70% 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, Director David S. Johnson sold 1,000 shares of Arthur J. Gallagher & Co. stock in a transaction on Friday, May 16th. The stock was sold at an average price of $342.04, for a total transaction of $342,040.00. Following the completion of the transaction, the director now directly owns 45,323 shares in the company, valued at approximately $15,502,278.92. The trade was a 2.16% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 32,510 shares of company stock worth $11,033,341 in the last ninety days. 1.30% of the stock is owned by company insiders.

About Arthur J. Gallagher & Co.

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.