Torray Investment Partners LLC Buys 89 Shares of Arthur J. Gallagher & Co. (NYSE:AJG)

Torray Investment Partners LLC raised its stake in Arthur J. Gallagher & Co. (NYSE:AJG) by 0.4% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 21,013 shares of the financial services provider’s stock after purchasing an additional 89 shares during the period. Torray Investment Partners LLC’s holdings in Arthur J. Gallagher & Co. were worth $5,449,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the stock. Creekmur Asset Management LLC bought a new position in shares of Arthur J. Gallagher & Co. during the 1st quarter worth about $27,000. DiNuzzo Private Wealth Inc. increased its position in shares of Arthur J. Gallagher & Co. by 89.7% during the 2nd quarter. DiNuzzo Private Wealth Inc. now owns 110 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 52 shares in the last quarter. Richardson Financial Services Inc. acquired a new stake in Arthur J. Gallagher & Co. in the 4th quarter valued at about $27,000. Transcendent Capital Group LLC acquired a new stake in Arthur J. Gallagher & Co. in the 4th quarter valued at about $31,000. Finally, Security National Bank acquired a new stake in Arthur J. Gallagher & Co. in the 4th quarter valued at about $33,000. 85.53% of the stock is owned by institutional investors.

Insider Transactions at Arthur J. Gallagher & Co.

In other news, General Counsel Walter D. Bay sold 6,335 shares of the business’s stock in a transaction on Tuesday, July 30th. The shares were sold at an average price of $284.06, for a total value of $1,799,520.10. Following the sale, the general counsel now owns 30,053 shares of the company’s stock, valued at $8,536,855.18. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, General Counsel Walter D. Bay sold 6,335 shares of the business’s stock in a transaction on Tuesday, July 30th. The shares were sold at an average price of $284.06, for a total transaction of $1,799,520.10. Following the transaction, the general counsel now directly owns 30,053 shares in the company, valued at $8,536,855.18. The sale was disclosed in a filing with the SEC, which is available through this link. Also, President Thomas Joseph Gallagher sold 15,000 shares of the business’s stock in a transaction 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 transaction, the president now owns 329,099 shares in the company, valued at $93,121,853.04. The disclosure for this sale can be found here. Insiders have sold a total of 48,348 shares of company stock valued at $13,342,910 over the last 90 days. 1.60% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

AJG has been the subject of several research reports. Jefferies Financial Group raised their price objective on shares of Arthur J. Gallagher & Co. from $264.00 to $267.00 in a research report on Friday, July 26th. The Goldman Sachs Group raised their price objective on shares of Arthur J. Gallagher & Co. from $272.00 to $286.00 in a research report on Friday, July 26th. Keefe, Bruyette & Woods lifted their price target on shares of Arthur J. Gallagher & Co. from $241.00 to $252.00 and gave the stock an “underperform” rating in a research report on Friday, July 26th. Bank Of America (Bofa) lifted their price target on shares of Arthur J. Gallagher & Co. from $255.00 to $265.00 and gave the stock an “underperform” rating in a research report on Friday, July 26th. Finally, Wells Fargo & Company lifted their price target on shares of Arthur J. Gallagher & Co. from $282.00 to $301.00 and gave the stock an “overweight” rating in a research report on Friday, July 26th. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, Arthur J. Gallagher & Co. currently has a consensus rating of “Hold” and an average target price of $276.82.

Arthur J. Gallagher & Co. Stock Down 0.3 %

AJG traded down $0.76 during trading on Friday, reaching $294.19. The company had a trading volume of 671,525 shares, compared to its average volume of 826,065. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.04 and a quick ratio of 1.04. Arthur J. Gallagher & Co. has a 12 month low of $218.63 and a 12 month high of $298.24. The business’s fifty day moving average price is $279.84 and its 200 day moving average price is $259.28. The company has a market cap of $64.28 billion, a P/E ratio of 59.55, a PEG ratio of 2.46 and a beta of 0.72.

Arthur J. Gallagher & Co. (NYSE:AJG) last announced its quarterly 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 net margin of 10.41% and a return on equity of 19.25%. The firm had revenue of $2.73 billion for the quarter, compared to analyst estimates of $2.77 billion. During the same quarter in the previous year, the firm posted $1.90 earnings per share. The business’s revenue was up 14.3% on a year-over-year basis. Equities analysts anticipate that Arthur J. Gallagher & Co. will post 10.16 EPS for the current year.

Arthur J. Gallagher & Co. Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 20th. Stockholders of record on Friday, September 6th will be given a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 0.82%. The ex-dividend date of this dividend is Friday, September 6th. Arthur J. Gallagher & Co.’s dividend payout ratio is presently 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.