Janney Montgomery Scott LLC lowered its position in shares of Arthur J. Gallagher & Co. (NYSE:AJG – Free Report) by 43.2% in the 1st quarter, HoldingsChannel reports. The institutional investor owned 22,462 shares of the financial services provider’s stock after selling 17,115 shares during the period. Janney Montgomery Scott LLC’s holdings in Arthur J. Gallagher & Co. were worth $4,865,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the business. Kenora Financial LLC lifted its holdings in Arthur J. Gallagher & Co. by 33.2% in the 1st quarter. Kenora Financial LLC now owns 2,370 shares of the financial services provider’s stock valued at $513,000 after acquiring an additional 591 shares during the last quarter. Fort Washington Investment Advisors Inc. OH grew its stake in shares of Arthur J. Gallagher & Co. by 3.9% in the 1st quarter. Fort Washington Investment Advisors Inc. OH now owns 183,381 shares of the financial services provider’s stock worth $39,717,000 after purchasing an additional 6,813 shares during the last quarter. Welch Group LLC raised its holdings in shares of Arthur J. Gallagher & Co. by 10.4% in the 1st quarter. Welch Group LLC now owns 253,012 shares of the financial services provider’s stock worth $54,797,000 after purchasing an additional 23,787 shares in the last quarter. Aaron Wealth Advisors LLC lifted its stake in Arthur J. Gallagher & Co. by 3.2% during the first quarter. Aaron Wealth Advisors LLC now owns 1,716 shares of the financial services provider’s stock valued at $372,000 after purchasing an additional 54 shares during the last quarter. Finally, OLD National Bancorp IN acquired a new stake in Arthur J. Gallagher & Co. during the first quarter valued at approximately $212,000. 85.53% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have issued reports on the stock. Weiss Ratings restated a “hold (c-)” rating on shares of Arthur J. Gallagher & Co. in a research report on Monday, June 15th. Keefe, Bruyette & Woods raised their price objective on Arthur J. Gallagher & Co. from $235.00 to $242.00 and gave the stock a “market perform” rating in a research note on Thursday, June 18th. Piper Sandler decreased their target price on Arthur J. Gallagher & Co. from $226.00 to $211.00 and set a “neutral” rating on the stock in a report on Friday, May 1st. Wells Fargo & Company cut their target price on Arthur J. Gallagher & Co. from $273.00 to $266.00 and set an “overweight” rating on the stock in a research report on Thursday, April 9th. Finally, Barclays upped their target price on Arthur J. Gallagher & Co. from $262.00 to $275.00 and gave the company an “overweight” rating in a report on Wednesday, April 8th. Thirteen equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to MarketBeat.com, Arthur J. Gallagher & Co. has an average rating of “Moderate Buy” and an average target price of $264.12.

View Our Latest Stock Analysis on AJG

Insiders Place Their Bets

In related news, CAO Richard C. Cary sold 3,000 shares of the company’s stock in a transaction on Tuesday, June 2nd. The stock was sold at an average price of $206.00, for a total transaction of $618,000.00. Following the transaction, the chief accounting officer directly owned 47,819 shares of the company’s stock, valued at approximately $9,850,714. The trade was a 5.90% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.40% of the company’s stock.

Arthur J. Gallagher & Co. Stock Up 0.1%

Shares of NYSE:AJG opened at $252.60 on Monday. The firm has a 50 day simple moving average of $212.23 and a 200 day simple moving average of $225.63. Arthur J. Gallagher & Co. has a 52 week low of $190.75 and a 52 week high of $319.25. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.06 and a current ratio of 1.06. The company has a market cap of $64.89 billion, a PE ratio of 40.87, a price-to-earnings-growth ratio of 1.28 and a beta of 0.50.

Arthur J. Gallagher & Co. (NYSE:AJG – Get Free Report) last posted its quarterly earnings data on Thursday, April 30th. The financial services provider reported $4.47 earnings per share for the quarter, topping the consensus estimate of $4.43 by $0.04. Arthur J. Gallagher & Co. had a net margin of 10.76% and a return on equity of 12.83%. The firm had revenue of $4.71 billion for the quarter, compared to analysts’ expectations of $4.73 billion. During the same period in the previous year, the company posted $3.67 EPS. The company’s quarterly revenue was up 29.0% compared to the same quarter last year. As a group, research analysts expect that Arthur J. Gallagher & Co. will post 13.23 earnings per share for the current year.

Arthur J. Gallagher & Co. Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 19th. Stockholders of record on Friday, June 5th were issued a dividend of $0.70 per share. The ex-dividend date was Friday, June 5th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 1.1%. Arthur J. Gallagher & Co.’s payout ratio is currently 45.31%.

Arthur J. Gallagher & Co. Profile

(Free Report)

Arthur J. Gallagher & Co is a global insurance brokerage and risk management firm headquartered in Rolling Meadows, Illinois. Founded in 1927 by Arthur J. Gallagher, the company has grown from a regional broker into an international professional services organization that arranges insurance, provides consulting and designs risk-transfer solutions for commercial, industrial, public sector and individual clients.

The company’s core activities include property and casualty insurance brokerage, employee benefits consulting and administration, and a range of risk management services.

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Want to see what other hedge funds are holding AJG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Arthur J. Gallagher & Co. (NYSE:AJG – Free Report).

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