American Century Companies Inc. Has $105.16 Million Holdings in Arthur J Gallagher & Co (AJG)

American Century Companies Inc. lowered its stake in Arthur J Gallagher & Co (NYSE:AJG) by 0.3% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,412,709 shares of the financial services provider’s stock after selling 3,669 shares during the period. American Century Companies Inc.’s holdings in Arthur J Gallagher & Co were worth $105,162,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of AJG. Charles Schwab Investment Advisory Inc. acquired a new stake in Arthur J Gallagher & Co in the 2nd quarter valued at about $240,671,000. Millennium Management LLC raised its position in shares of Arthur J Gallagher & Co by 136.2% during the 2nd quarter. Millennium Management LLC now owns 2,030,149 shares of the financial services provider’s stock worth $132,528,000 after acquiring an additional 1,170,683 shares in the last quarter. Baird Financial Group Inc. raised its position in shares of Arthur J Gallagher & Co by 6,475.5% during the 2nd quarter. Baird Financial Group Inc. now owns 512,695 shares of the financial services provider’s stock worth $33,469,000 after acquiring an additional 504,898 shares in the last quarter. OppenheimerFunds Inc. raised its position in shares of Arthur J Gallagher & Co by 231.6% during the 2nd quarter. OppenheimerFunds Inc. now owns 650,274 shares of the financial services provider’s stock worth $42,450,000 after acquiring an additional 454,149 shares in the last quarter. Finally, First Trust Advisors LP raised its position in shares of Arthur J Gallagher & Co by 67.6% during the 3rd quarter. First Trust Advisors LP now owns 883,336 shares of the financial services provider’s stock worth $65,756,000 after acquiring an additional 356,273 shares in the last quarter. 81.72% of the stock is currently owned by institutional investors.

Several brokerages have recently weighed in on AJG. Royal Bank of Canada reissued a “hold” rating and set a $73.00 target price on shares of Arthur J Gallagher & Co in a research report on Friday, July 27th. Citigroup set a $78.00 target price on Arthur J Gallagher & Co and gave the stock a “hold” rating in a research report on Friday, October 12th. ValuEngine raised Arthur J Gallagher & Co from a “hold” rating to a “buy” rating in a research report on Tuesday, October 2nd. SunTrust Banks reissued a “buy” rating on shares of Arthur J Gallagher & Co in a research report on Thursday, July 26th. Finally, Credit Suisse Group began coverage on Arthur J Gallagher & Co in a research report on Tuesday, August 7th. They set an “outperform” rating and a $84.00 target price on the stock. Four analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Arthur J Gallagher & Co presently has a consensus rating of “Buy” and a consensus target price of $78.20.

Shares of NYSE AJG opened at $78.05 on Friday. The stock has a market cap of $14.13 billion, a PE ratio of 25.51, a price-to-earnings-growth ratio of 2.05 and a beta of 1.00. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.68. Arthur J Gallagher & Co has a fifty-two week low of $62.04 and a fifty-two week high of $78.37.

Arthur J Gallagher & Co (NYSE:AJG) last released 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 firm had revenue of $1.78 billion for 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%. Equities analysts forecast that Arthur J Gallagher & Co will post 3.44 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Friday, December 21st. Investors of record on Friday, December 7th will be paid a dividend of $0.41 per share. The ex-dividend date is Thursday, December 6th. This represents a $1.64 dividend on an annualized basis and a yield of 2.10%. Arthur J Gallagher & Co’s dividend payout ratio is presently 53.59%.

In related news, General Counsel Walter D. Bay sold 3,985 shares of the firm’s stock in a transaction that occurred on Friday, September 14th. The stock was sold at an average price of $75.09, for a total transaction of $299,233.65. Following the transaction, the general counsel now owns 16,269 shares in the company, valued at approximately $1,221,639.21. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP William F. Ziebell sold 12,500 shares of the firm’s stock in a transaction that occurred on Thursday, September 13th. The stock was sold at an average price of $74.78, for a total value of $934,750.00. Following the transaction, the vice president now owns 16,792 shares in the company, valued at approximately $1,255,705.76. The disclosure for this sale can be found here. Insiders have sold a total of 40,252 shares of company stock worth $2,944,259 in the last 90 days. 1.60% of the stock is currently owned by company insiders.

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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.

Read More: How are Outstanding Shares Different from Authorized Shares?

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

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