Texas Permanent School Fund Reduces Stake in Arthur J Gallagher & Co (AJG)

Texas Permanent School Fund reduced its position in Arthur J Gallagher & Co (NYSE:AJG) by 3.1% during the first quarter, Holdings Channel reports. The institutional investor owned 35,807 shares of the financial services provider’s stock after selling 1,132 shares during the period. Texas Permanent School Fund’s holdings in Arthur J Gallagher & Co were worth $2,797,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently added to or reduced their stakes in the company. Securian Asset Management Inc boosted its holdings in Arthur J Gallagher & Co by 0.7% in the first quarter. Securian Asset Management Inc now owns 18,970 shares of the financial services provider’s stock valued at $1,482,000 after purchasing an additional 137 shares during the last quarter. Park National Corp OH boosted its holdings in Arthur J Gallagher & Co by 4.0% during the first quarter. Park National Corp OH now owns 3,984 shares of the financial services provider’s stock worth $311,000 after buying an additional 153 shares in the last quarter. Weatherstone Capital Management boosted its holdings in Arthur J Gallagher & Co by 5.5% during the first quarter. Weatherstone Capital Management now owns 3,049 shares of the financial services provider’s stock worth $238,000 after buying an additional 159 shares in the last quarter. Goelzer Investment Management Inc. boosted its holdings in Arthur J Gallagher & Co by 0.3% during the fourth quarter. Goelzer Investment Management Inc. now owns 62,932 shares of the financial services provider’s stock worth $4,638,000 after buying an additional 160 shares in the last quarter. Finally, Cambridge Investment Research Advisors Inc. boosted its holdings in Arthur J Gallagher & Co by 4.6% during the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 3,866 shares of the financial services provider’s stock worth $285,000 after buying an additional 171 shares in the last quarter. Hedge funds and other institutional investors own 83.40% of the company’s stock.

In other Arthur J Gallagher & Co news, Director David S. Johnson sold 5,000 shares of the company’s stock in a transaction dated Friday, February 15th. The shares were sold at an average price of $79.37, for a total value of $396,850.00. Following the sale, the director now owns 48,728 shares of the company’s stock, valued at $3,867,541.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Douglas K. Howell sold 13,600 shares of the company’s stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $79.27, for a total transaction of $1,078,072.00. Following the completion of the sale, the chief financial officer now directly owns 47,577 shares in the company, valued at approximately $3,771,428.79. The disclosure for this sale can be found here. Insiders sold 49,534 shares of company stock worth $3,963,150 in the last ninety days. Insiders own 1.30% of the company’s stock.

A number of analysts recently commented on the stock. Zacks Investment Research raised shares of Arthur J Gallagher & Co from a “sell” rating to a “hold” rating in a report on Friday, January 25th. Wells Fargo & Co reissued a “buy” rating and set a $93.00 price objective on shares of Arthur J Gallagher & Co in a report on Friday, April 26th. Barclays boosted their price objective on shares of Arthur J Gallagher & Co from $87.00 to $93.00 and gave the stock an “overweight” rating in a report on Monday, April 1st. Morgan Stanley boosted their price objective on shares of Arthur J Gallagher & Co from $77.00 to $81.00 and gave the stock an “equal weight” rating in a report on Monday, April 29th. Finally, SunTrust Banks boosted their price objective on shares of Arthur J Gallagher & Co to $95.00 and gave the stock a “buy” rating in a report on Friday, April 26th. Five investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Arthur J Gallagher & Co presently has a consensus rating of “Buy” and a consensus target price of $84.22.

Shares of NYSE AJG traded up $1.27 on Thursday, hitting $83.98. The company’s stock had a trading volume of 12,428 shares, compared to its average volume of 1,079,195. Arthur J Gallagher & Co has a 12-month low of $64.54 and a 12-month high of $84.14. The company has a market capitalization of $15.18 billion, a PE ratio of 24.34, a price-to-earnings-growth ratio of 2.23 and a beta of 0.92. The company has a debt-to-equity ratio of 0.74, a current ratio of 1.12 and a quick ratio of 1.12.

Arthur J Gallagher & Co (NYSE:AJG) last announced its quarterly earnings results on Thursday, April 25th. The financial services provider reported $1.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.61 by $0.02. Arthur J Gallagher & Co had a net margin of 9.79% and a return on equity of 14.33%. The company had revenue of $1.90 billion for the quarter, compared to the consensus estimate of $1.96 billion. During the same quarter in the prior year, the firm earned $1.52 earnings per share. The company’s revenue for the quarter was up 7.0% compared to the same quarter last year. On average, analysts forecast that Arthur J Gallagher & Co will post 3.74 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 21st. Shareholders of record on Friday, June 7th will be issued a $0.43 dividend. This represents a $1.72 annualized dividend and a dividend yield of 2.05%. The ex-dividend date is Thursday, June 6th. Arthur J Gallagher & Co’s dividend payout ratio (DPR) is presently 49.86%.

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Arthur J Gallagher & Co Company Profile

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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