Comerica Bank Grows Position in Arthur J. Gallagher & Co. (NYSE:AJG)

Comerica Bank grew its position in shares of Arthur J. Gallagher & Co. (NYSE:AJG) by 4.6% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 253,307 shares of the financial services provider’s stock after purchasing an additional 11,039 shares during the period. Comerica Bank owned approximately 0.10% of Arthur J. Gallagher & Co. worth $71,901,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of AJG. Valley National Advisers Inc. acquired a new position in shares of Arthur J. Gallagher & Co. during the fourth quarter valued at $25,000. MRP Capital Investments LLC purchased a new position in Arthur J. Gallagher & Co. during the 4th quarter valued at about $28,000. New Age Alpha Advisors LLC boosted its position in Arthur J. Gallagher & Co. by 81.7% during the fourth quarter. New Age Alpha Advisors LLC now owns 109 shares of the financial services provider’s stock valued at $31,000 after purchasing an additional 49 shares during the last quarter. Johnson Financial Group Inc. grew its position in Arthur J. Gallagher & Co. by 205.4% in the fourth quarter. Johnson Financial Group Inc. now owns 113 shares of the financial services provider’s stock worth $34,000 after acquiring an additional 76 shares in the last quarter. Finally, E Fund Management Hong Kong Co. Ltd. bought a new position in shares of Arthur J. Gallagher & Co. in the 4th quarter valued at approximately $35,000. Institutional investors and hedge funds own 85.53% of the company’s stock.

Insider Buying and Selling

In other Arthur J. Gallagher & Co. news, Director Sherry S. Barrat sold 2,500 shares of the business’s stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $304.33, for a total transaction of $760,825.00. Following the sale, the director now directly owns 16,533 shares of the company’s stock, valued at $5,031,487.89. The trade was a 13.14 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Christopher E. Mead sold 2,900 shares of the company’s stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $302.61, for a total value of $877,569.00. Following the completion of the sale, the vice president now owns 14,674 shares in the company, valued at $4,440,499.14. The trade was a 16.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 23,235 shares of company stock worth $7,478,224. Corporate insiders own 1.60% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently commented on AJG shares. Keefe, Bruyette & Woods upped their target price on Arthur J. Gallagher & Co. from $308.00 to $314.00 and gave the company a “market perform” rating in a research note on Friday, March 21st. Jefferies Financial Group lowered their target price on shares of Arthur J. Gallagher & Co. from $266.00 to $265.00 and set a “hold” rating for the company in a research note on Friday, April 11th. Redburn Atlantic initiated coverage on shares of Arthur J. Gallagher & Co. in a report on Tuesday, March 25th. They issued a “neutral” rating and a $352.00 price target for the company. TD Cowen raised Arthur J. Gallagher & Co. from a “hold” rating to a “buy” rating and raised their price objective for the stock from $295.00 to $377.00 in a research note on Friday, January 10th. Finally, Barclays increased their price target on Arthur J. Gallagher & Co. from $308.00 to $346.00 and gave the stock an “equal weight” rating in a report on Friday, April 11th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $315.27.

Arthur J. Gallagher & Co. Price Performance

NYSE:AJG opened at $316.59 on Wednesday. The stock has a market capitalization of $80.96 billion, a PE ratio of 48.56 and a beta of 0.64. Arthur J. Gallagher & Co. has a 1-year low of $232.58 and a 1-year high of $350.70. The firm has a fifty day simple moving average of $330.42 and a 200 day simple moving average of $307.71. The company has a current ratio of 1.51, a quick ratio of 1.51 and a debt-to-equity ratio of 0.63.

Arthur J. Gallagher & Co. (NYSE:AJG) last posted its quarterly earnings results on Thursday, January 30th. The financial services provider reported $2.13 earnings per share for the quarter, beating analysts’ consensus estimates of $2.03 by $0.10. Arthur J. Gallagher & Co. had a return on equity of 16.47% and a net margin of 12.70%. On average, research analysts expect that Arthur J. Gallagher & Co. will post 11.54 EPS for the current fiscal year.

Arthur J. Gallagher & Co. Profile

Arthur J. Gallagher & Co engages in the provision of insurance brokerage, reinsurance brokerage, consulting, and third-party claims settlement and administration services. It operates through the following segments: Brokerage, Risk Management, and Corporate. The Brokerage segment consists of retail and wholesale insurance brokerage operations.