Busey Bank Cuts Stock Holdings in Arthur J. Gallagher & Co. (NYSE:AJG)

by · The Markets Daily

Busey Bank lowered its position in Arthur J. Gallagher & Co. (NYSE:AJG – Free Report) by 0.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 44,254 shares of the financial services provider’s stock after selling 302 shares during the period. Busey Bank’s holdings in Arthur J. Gallagher & Co. were worth $12,452,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the company. Strategic Investment Solutions Inc. IL bought a new position in shares of Arthur J. Gallagher & Co. during the 2nd quarter worth approximately $26,000. Mark Sheptoff Financial Planning LLC bought a new stake in shares of Arthur J. Gallagher & Co. in the 2nd quarter worth approximately $26,000. Creekmur Asset Management LLC purchased a new position in Arthur J. Gallagher & Co. in the first quarter valued at approximately $27,000. DiNuzzo Private Wealth Inc. grew its holdings in Arthur J. Gallagher & Co. by 89.7% during the second quarter. DiNuzzo Private Wealth Inc. now owns 110 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 52 shares during the period. Finally, Quarry LP purchased a new stake in Arthur J. Gallagher & Co. in the second quarter worth $29,000. 85.53% of the stock is owned by institutional investors.

Insider Buying and Selling at Arthur J. Gallagher & Co.

In other Arthur J. Gallagher & Co. news, CFO Douglas K. Howell sold 8,710 shares of the business’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $285.07, for a total value of $2,482,959.70. Following the transaction, the chief financial officer now owns 75,963 shares in the company, valued at approximately $21,654,772.41. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Arthur J. Gallagher & Co. news, CFO Douglas K. Howell sold 7,000 shares of the stock in a transaction that occurred on Thursday, September 19th. The stock was sold at an average price of $284.68, for a total value of $1,992,760.00. Following the completion of the sale, the chief financial officer now owns 75,963 shares in the company, valued at approximately $21,625,146.84. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Douglas K. Howell sold 8,710 shares of Arthur J. Gallagher & Co. stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $285.07, for a total value of $2,482,959.70. Following the completion of the sale, the chief financial officer now owns 75,963 shares in the company, valued at approximately $21,654,772.41. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 44,145 shares of company stock valued at $12,622,660 in the last quarter. Company insiders own 1.60% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on AJG shares. UBS Group increased their price objective on Arthur J. Gallagher & Co. from $260.00 to $292.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 31st. BMO Capital Markets raised their price target on Arthur J. Gallagher & Co. from $275.00 to $295.00 and gave the company an “outperform” rating in a report on Friday, July 26th. Jefferies Financial Group boosted their price objective on Arthur J. Gallagher & Co. from $269.00 to $274.00 and gave the stock a “hold” rating in a report on Wednesday, October 9th. TD Cowen upped their price objective on shares of 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. Finally, Bank of America lifted their target price on shares of Arthur J. Gallagher & Co. from $271.00 to $293.00 and gave the company an “underperform” rating in a research report on Thursday, October 10th. Three analysts have rated the stock with a sell rating, seven have given a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, Arthur J. Gallagher & Co. currently has a consensus rating of “Hold” and an average price target of $287.00.

View Our Latest Stock Report on AJG

Arthur J. Gallagher & Co. Price Performance

Shares of Arthur J. Gallagher & Co. stock opened at $287.35 on Friday. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.04 and a current ratio of 1.04. Arthur J. Gallagher & Co. has a 52-week low of $218.63 and a 52-week high of $301.04. The company has a fifty day moving average of $289.20 and a 200-day moving average of $268.76. The stock has a market capitalization of $62.79 billion, a price-to-earnings ratio of 58.17, a price-to-earnings-growth ratio of 2.53 and a beta of 0.72.

Arthur J. Gallagher & Co. (NYSE:AJG – Get Free Report) last posted its quarterly earnings results on Thursday, October 24th. The financial services provider reported $2.26 earnings per share for the quarter, hitting the consensus estimate of $2.26. Arthur J. Gallagher & Co. had a net margin of 10.41% and a return on equity of 19.25%. The business had revenue of $2.77 billion during the quarter, compared to the consensus estimate of $2.78 billion. During the same period in the previous year, the firm posted $2.00 earnings per share. The firm’s revenue for the quarter was up 12.8% on a year-over-year basis. Equities research analysts expect that Arthur J. Gallagher & Co. will post 10.11 EPS for the current year.

Arthur J. Gallagher & Co. Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Friday, December 6th will be issued a dividend of $0.60 per share. The ex-dividend date is Friday, December 6th. This represents a $2.40 dividend on an annualized basis and a yield of 0.84%. Arthur J. Gallagher & Co.’s dividend payout ratio is currently 48.58%.

Arthur J. Gallagher & Co. Company Profile

(Free Report)

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.

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