Vanguard Group Inc. Grows Holdings in Arthur J Gallagher & Co (NYSE:AJG)

Vanguard Group Inc. lifted its holdings in Arthur J Gallagher & Co (NYSE:AJG) by 0.3% in the second quarter, according to the company in its most recent filing with the SEC. The fund owned 20,650,184 shares of the financial services provider’s stock after acquiring an additional 63,734 shares during the quarter. Vanguard Group Inc. owned 11.10% of Arthur J Gallagher & Co worth $1,808,749,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in AJG. Dimensional Fund Advisors LP raised its holdings in Arthur J Gallagher & Co by 3.6% during the 4th quarter. Dimensional Fund Advisors LP now owns 823,808 shares of the financial services provider’s stock valued at $60,709,000 after buying an additional 28,397 shares during the last quarter. Geode Capital Management LLC lifted its stake in Arthur J Gallagher & Co by 16.3% during the 4th quarter. Geode Capital Management LLC now owns 2,549,309 shares of the financial services provider’s stock valued at $187,573,000 after acquiring an additional 358,129 shares during the period. Cetera Advisor Networks LLC lifted its stake in Arthur J Gallagher & Co by 12.9% during the 1st quarter. Cetera Advisor Networks LLC now owns 4,072 shares of the financial services provider’s stock valued at $318,000 after acquiring an additional 465 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its stake in Arthur J Gallagher & Co by 7.4% during the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 10,761 shares of the financial services provider’s stock valued at $840,000 after acquiring an additional 742 shares during the period. Finally, Mason Street Advisors LLC lifted its stake in shares of Arthur J Gallagher & Co by 1.4% in the 1st quarter. Mason Street Advisors LLC now owns 26,258 shares of the financial services provider’s stock worth $2,051,000 after purchasing an additional 366 shares during the period. Hedge funds and other institutional investors own 81.62% of the company’s stock.

AJG has been the topic of a number of recent analyst reports. Zacks Investment Research upgraded shares of Arthur J Gallagher & Co from a “sell” rating to a “hold” rating and set a $76.00 target price on the stock in a research note on Tuesday, July 23rd. Wells Fargo & Co raised their target price on shares of Arthur J Gallagher & Co from $93.00 to $100.00 and gave the company an “outperform” rating in a report on Friday, June 14th. Royal Bank of Canada set a $90.00 price objective on shares of Arthur J Gallagher & Co and gave the stock a “hold” rating in a research note on Friday, July 26th. Credit Suisse Group reiterated an “outperform” rating and set a $93.00 target price (up from $88.00) on shares of Arthur J Gallagher & Co in a research report on Wednesday, August 7th. Finally, Barclays set a $107.00 target price on Arthur J Gallagher & Co and gave the stock a “buy” rating in a research report on Monday, August 12th. Five investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Arthur J Gallagher & Co presently has an average rating of “Buy” and a consensus target price of $90.00.

Shares of AJG stock traded down $0.67 during trading hours on Friday, hitting $88.80. 797,195 shares of the company’s stock were exchanged, compared to its average volume of 899,900. The firm has a 50 day moving average of $89.28 and a two-hundred day moving average of $85.53. Arthur J Gallagher & Co has a fifty-two week low of $68.19 and a fifty-two week high of $92.74. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.77. The firm has a market cap of $16.52 billion, a P/E ratio of 25.74, a P/E/G ratio of 2.56 and a beta of 0.82.

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

The company also recently announced a quarterly dividend, which was paid on Friday, September 20th. Shareholders of record on Friday, September 6th were given a $0.43 dividend. This represents a $1.72 annualized dividend and a yield of 1.94%. The ex-dividend date of this dividend was Thursday, September 5th. Arthur J Gallagher & Co’s dividend payout ratio is currently 49.86%.

In related news, Director Kay W. Mccurdy sold 2,250 shares of the business’s stock in a transaction that occurred on Monday, July 29th. The stock was sold at an average price of $92.00, for a total transaction of $207,000.00. Following the completion of the sale, the director now owns 32,482 shares in the company, valued at $2,988,344. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Susan E. Pietrucha sold 18,000 shares of the business’s stock in a transaction that occurred on Thursday, September 19th. The stock was sold at an average price of $90.33, for a total value of $1,625,940.00. Following the sale, the insider now owns 4,967 shares of the company’s stock, valued at approximately $448,669.11. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 22,500 shares of company stock valued at $2,037,330. 1.30% of the stock is currently owned by corporate insiders.

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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