Smithbridge Asset Management Inc. DE Boosts Position in Arthur J. Gallagher & Co. (NYSE:AJG)

Smithbridge Asset Management Inc. DE raised its stake in Arthur J. Gallagher & Co. (NYSE:AJG) by 1.4% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 43,987 shares of the financial services provider’s stock after purchasing an additional 592 shares during the period. Arthur J. Gallagher & Co. accounts for approximately 2.4% of Smithbridge Asset Management Inc. DE’s holdings, making the stock its 8th biggest holding. Smithbridge Asset Management Inc. DE’s holdings in Arthur J. Gallagher & Co. were worth $11,406,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the stock. Richardson Financial Services Inc. acquired a new stake in Arthur J. Gallagher & Co. during the fourth quarter valued at approximately $27,000. Creekmur Asset Management LLC acquired a new stake in shares of Arthur J. Gallagher & Co. during the 1st quarter valued at approximately $27,000. Transcendent Capital Group LLC bought a new position in Arthur J. Gallagher & Co. during the fourth quarter worth $31,000. Security National Bank acquired a new position in Arthur J. Gallagher & Co. in the fourth quarter worth $33,000. Finally, DSM Capital Partners LLC acquired a new stake in shares of Arthur J. Gallagher & Co. during the fourth quarter worth $37,000. Institutional investors and hedge funds own 85.53% of the company’s stock.

Insider Activity

In related news, VP Scott R. Hudson sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, June 18th. The shares were sold at an average price of $263.45, for a total value of $2,634,500.00. Following the sale, the vice president now directly owns 93,730 shares in the company, valued at approximately $24,693,168.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, General Counsel Walter D. Bay sold 800 shares of Arthur J. Gallagher & Co. stock in a transaction dated Monday, May 20th. The stock was sold at an average price of $257.24, for a total value of $205,792.00. Following the transaction, the general counsel now owns 44,691 shares of the company’s stock, valued at approximately $11,496,312.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Scott R. Hudson sold 10,000 shares of the business’s stock in a transaction dated Tuesday, June 18th. The stock was sold at an average price of $263.45, for a total value of $2,634,500.00. Following the sale, the vice president now owns 93,730 shares in the company, valued at approximately $24,693,168.50. The disclosure for this sale can be found here. In the last quarter, insiders sold 49,998 shares of company stock worth $13,767,866. Corporate insiders own 1.60% of the company’s stock.

Arthur J. Gallagher & Co. Price Performance

Shares of Arthur J. Gallagher & Co. stock traded up $0.68 on Friday, hitting $285.08. The company had a trading volume of 774,860 shares, compared to its average volume of 844,038. Arthur J. Gallagher & Co. has a 52 week low of $215.37 and a 52 week high of $290.31. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.04 and a quick ratio of 1.05. The company has a market cap of $62.29 billion, a PE ratio of 57.71, a PEG ratio of 2.41 and a beta of 0.72. The business has a 50-day simple moving average of $270.46 and a 200-day simple moving average of $253.67.

Arthur J. Gallagher & Co. (NYSE:AJG) last issued its quarterly earnings results on Thursday, July 25th. The financial services provider reported $2.26 earnings per share (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 firm had revenue of $2.73 billion during the quarter, compared to analyst estimates of $2.77 billion. During the same period last year, the company posted $1.90 EPS. The firm’s quarterly revenue 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 fiscal year.

Arthur J. Gallagher & Co. Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 20th. Shareholders of record on Friday, September 6th will be given a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 0.84%. The ex-dividend date of this dividend is Friday, September 6th. Arthur J. Gallagher & Co.’s dividend payout ratio (DPR) is presently 48.58%.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the stock. UBS Group lifted their price target on shares of Arthur J. Gallagher & Co. from $260.00 to $292.00 and gave the company a “neutral” rating in a report on Wednesday, July 31st. The Goldman Sachs Group increased their price target on Arthur J. Gallagher & Co. from $272.00 to $286.00 in a research report on Friday, July 26th. Argus boosted their price objective on Arthur J. Gallagher & Co. from $264.00 to $270.00 and gave the company a “buy” rating in a research report on Tuesday, May 14th. BMO Capital Markets raised their target price on Arthur J. Gallagher & Co. from $275.00 to $295.00 and gave the company an “outperform” rating in a research note on Friday, July 26th. Finally, Bank of America upped their price target on shares of Arthur J. Gallagher & Co. from $233.00 to $255.00 and gave the stock an “underperform” rating in a research report on Wednesday, May 22nd. Three analysts have rated the stock with a sell rating, seven have given a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $275.38.

Arthur J. Gallagher & Co. 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.