Arthur J Gallagher & Co (AJG) Shares Sold by Cornerstone Wealth Management LLC

Cornerstone Wealth Management LLC cut its holdings in Arthur J Gallagher & Co (NYSE:AJG) by 5.6% in the third quarter, HoldingsChannel reports. The firm owned 41,087 shares of the financial services provider’s stock after selling 2,441 shares during the quarter. Cornerstone Wealth Management LLC’s holdings in Arthur J Gallagher & Co were worth $667,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Dupont Capital Management Corp grew its holdings in shares of Arthur J Gallagher & Co by 92.3% in the second quarter. Dupont Capital Management Corp now owns 1,579 shares of the financial services provider’s stock valued at $103,000 after purchasing an additional 758 shares in the last quarter. Braun Bostich & Associates Inc. grew its holdings in shares of Arthur J Gallagher & Co by 528.7% in the second quarter. Braun Bostich & Associates Inc. now owns 1,773 shares of the financial services provider’s stock valued at $116,000 after purchasing an additional 1,491 shares in the last quarter. Point72 Hong Kong Ltd purchased a new position in shares of Arthur J Gallagher & Co in the second quarter valued at $127,000. Cerebellum GP LLC purchased a new position in shares of Arthur J Gallagher & Co in the third quarter valued at $185,000. Finally, Summit X LLC purchased a new position in shares of Arthur J Gallagher & Co in the second quarter valued at $207,000. 81.96% of the stock is owned by hedge funds and other institutional investors.

A number of research analysts recently weighed in on AJG shares. Wells Fargo & Co reissued a “buy” rating and issued a $78.00 target price on shares of Arthur J Gallagher & Co in a report on Tuesday, July 10th. SunTrust Banks reissued a “buy” rating on shares of Arthur J Gallagher & Co in a report on Thursday, July 26th. Royal Bank of Canada reissued a “hold” rating and issued a $73.00 target price on shares of Arthur J Gallagher & Co in a report on Friday, July 27th. Credit Suisse Group started coverage on shares of Arthur J Gallagher & Co in a report on Tuesday, August 7th. They issued an “outperform” rating and a $84.00 target price for the company. Finally, William Blair reissued a “buy” rating on shares of Arthur J Gallagher & Co in a report on Thursday, August 16th. Four analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $78.20.

In related news, General Counsel Walter D. Bay sold 3,985 shares of the firm’s stock in a transaction on Friday, September 14th. The stock was sold at an average price of $75.09, for a total value of $299,233.65. Following the completion of the sale, the general counsel now directly owns 16,269 shares in the company, valued at $1,221,639.21. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Frank E. Jr. English sold 2,000 shares of the firm’s stock in a transaction on Friday, August 24th. The stock was sold at an average price of $72.07, for a total value of $144,140.00. Following the completion of the sale, the director now owns 8,400 shares of the company’s stock, valued at $605,388. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 40,252 shares of company stock valued at $2,944,259. 1.60% of the stock is owned by corporate insiders.

AJG stock opened at $74.67 on Friday. Arthur J Gallagher & Co has a fifty-two week low of $62.04 and a fifty-two week high of $76.49. The company has a quick ratio of 1.11, a current ratio of 1.09 and a debt-to-equity ratio of 0.68. The firm has a market capitalization of $13.71 billion, a P/E ratio of 24.40, a price-to-earnings-growth ratio of 1.99 and a beta of 1.00.

Arthur J Gallagher & Co (NYSE:AJG) last issued its quarterly earnings results on Thursday, October 25th. The financial services provider reported $0.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.77 by $0.01. The company had revenue of $1.78 billion during the quarter, compared to the consensus estimate of $1.69 billion. Arthur J Gallagher & Co had a return on equity of 15.50% and a net margin of 9.04%. Analysts predict that Arthur J Gallagher & Co will post 3.44 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, December 21st. Investors of record on Friday, December 7th will be given a $0.41 dividend. The ex-dividend date of this dividend is Thursday, December 6th. This represents a $1.64 dividend on an annualized basis and a yield of 2.20%. Arthur J Gallagher & Co’s dividend payout ratio is presently 53.59%.

About Arthur J Gallagher & Co

Arthur J. Gallagher & Co, together with its subsidiaries, provides insurance brokerage, consulting, and third party claims settlement and administration services to entities in the United States and internationally. Its Brokerage segment consists of retail and wholesale insurance brokerage operations.

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Institutional Ownership by Quarter for Arthur J Gallagher & Co (NYSE:AJG)

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