Ropes Wealth Advisors LLC Sells 2,188 Shares of Arthur J Gallagher & Co (NYSE:AJG)

Ropes Wealth Advisors LLC lowered its position in shares of Arthur J Gallagher & Co (NYSE:AJG) by 11.5% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 16,890 shares of the financial services provider’s stock after selling 2,188 shares during the period. Ropes Wealth Advisors LLC’s holdings in Arthur J Gallagher & Co were worth $1,479,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently made changes to their positions in AJG. Advisor Partners LLC increased its stake in Arthur J Gallagher & Co by 3.0% during the 2nd quarter. Advisor Partners LLC now owns 3,707 shares of the financial services provider’s stock worth $325,000 after acquiring an additional 109 shares during the period. Securian Asset Management Inc increased its stake in Arthur J Gallagher & Co by 0.7% during the 1st quarter. Securian Asset Management Inc now owns 18,970 shares of the financial services provider’s stock worth $1,482,000 after acquiring an additional 137 shares during the period. Hanseatic Management Services Inc. increased its stake in Arthur J Gallagher & Co by 6.9% during the 2nd quarter. Hanseatic Management Services Inc. now owns 2,124 shares of the financial services provider’s stock worth $186,000 after acquiring an additional 138 shares during the period. PNC Financial Services Group Inc. increased its stake in Arthur J Gallagher & Co by 0.5% during the 1st quarter. PNC Financial Services Group Inc. now owns 26,499 shares of the financial services provider’s stock worth $2,068,000 after acquiring an additional 144 shares during the period. Finally, Tredje AP fonden increased its stake in Arthur J Gallagher & Co by 1.0% during the 1st quarter. Tredje AP fonden now owns 14,535 shares of the financial services provider’s stock worth $1,135,000 after acquiring an additional 149 shares during the period. Institutional investors own 80.88% of the company’s stock.

AJG has been the topic of a number of recent research reports. Royal Bank of Canada set a $90.00 price objective on Arthur J Gallagher & Co and gave the stock a “hold” rating in a research note on Friday, July 26th. Wells Fargo & Co raised their price objective on Arthur J Gallagher & Co from $93.00 to $100.00 and gave the stock an “outperform” rating in a research note on Friday, June 14th. Credit Suisse Group restated an “outperform” rating and set a $93.00 price objective (up previously from $88.00) on shares of Arthur J Gallagher & Co in a research note on Wednesday, August 7th. Barclays raised their price objective on Arthur J Gallagher & Co from $97.00 to $100.00 and gave the stock an “overweight” rating in a research note on Monday, July 1st. Finally, SunTrust Banks raised their price objective on Arthur J Gallagher & Co to $95.00 and gave the company a “buy” rating in a report on Friday, April 26th. Five equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Arthur J Gallagher & Co presently has a consensus rating of “Buy” and an average target price of $89.13.

In other Arthur J Gallagher & Co news, insider Susan E. Pietrucha sold 1,990 shares of Arthur J Gallagher & Co stock in a transaction dated Friday, May 24th. The stock was sold at an average price of $84.29, for a total transaction of $167,737.10. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director William L. Bax sold 1,200 shares of Arthur J Gallagher & Co stock in a transaction dated Tuesday, June 4th. The stock was sold at an average price of $85.11, for a total value of $102,132.00. Following the transaction, the director now directly owns 40,570 shares in the company, valued at $3,452,912.70. The disclosure for this sale can be found here. Insiders have sold a total of 5,440 shares of company stock worth $476,869 over the last ninety days. Company insiders own 1.30% of the company’s stock.

Shares of NYSE AJG traded up $1.46 during mid-day trading on Tuesday, hitting $90.19. 10,058 shares of the stock traded hands, compared to its average volume of 1,185,313. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.77. Arthur J Gallagher & Co has a twelve month low of $68.19 and a twelve month high of $92.74. The firm has a market capitalization of $16.82 billion, a P/E ratio of 26.10, a PEG ratio of 2.58 and a beta of 0.83. The firm’s 50 day simple moving average is $90.32.

Arthur J Gallagher & Co (NYSE:AJG) last announced its earnings results on Thursday, July 25th. The financial services provider reported $0.65 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.61 by $0.04. The firm had revenue of $1.62 billion for the quarter, compared to the consensus estimate of $1.76 billion. Arthur J Gallagher & Co had a return on equity of 14.19% and a net margin of 9.77%. The business’s quarterly revenue was up 1.4% compared to the same quarter last year. During the same period in the previous year, the business earned $0.62 EPS. On average, equities analysts anticipate that Arthur J Gallagher & Co will post 3.64 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, September 20th. Shareholders of record on Friday, September 6th will be issued a dividend of $0.43 per share. This represents a $1.72 annualized dividend and a yield of 1.91%. The ex-dividend date is Thursday, September 5th. Arthur J Gallagher & Co’s payout ratio is presently 49.86%.

Arthur J Gallagher & Co 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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