Arthur J Gallagher & Co (AJG) Shares Sold by Alliancebernstein L.P.

Alliancebernstein L.P. trimmed its position in shares of Arthur J Gallagher & Co (NYSE:AJG) by 5.9% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,131,030 shares of the financial services provider’s stock after selling 71,516 shares during the quarter. Alliancebernstein L.P. owned approximately 0.62% of Arthur J Gallagher & Co worth $84,194,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of AJG. Charles Schwab Investment Advisory Inc. acquired a new position in shares of Arthur J Gallagher & Co in the second quarter worth $240,671,000. JPMorgan Chase & Co. raised its holdings in shares of Arthur J Gallagher & Co by 3.2% in the third quarter. JPMorgan Chase & Co. now owns 3,682,827 shares of the financial services provider’s stock worth $274,149,000 after acquiring an additional 115,903 shares during the last quarter. Millennium Management LLC raised its holdings in shares of Arthur J Gallagher & Co by 136.2% in the second 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 during the last quarter. Massachusetts Financial Services Co. MA raised its holdings in shares of Arthur J Gallagher & Co by 5.9% in the third quarter. Massachusetts Financial Services Co. MA now owns 1,073,623 shares of the financial services provider’s stock worth $79,920,000 after acquiring an additional 59,390 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. raised its holdings in shares of Arthur J Gallagher & Co by 6.5% in the second quarter. Schwab Charles Investment Management Inc. now owns 952,776 shares of the financial services provider’s stock worth $62,198,000 after acquiring an additional 58,180 shares during the last quarter. Institutional investors own 83.30% of the company’s stock.

A number of research firms have recently weighed in on AJG. Wells Fargo & Co reissued a “buy” rating and issued a $78.00 price target on shares of Arthur J Gallagher & Co in a report on Friday, July 27th. Citigroup set a $78.00 price target on Arthur J Gallagher & Co and gave the stock a “hold” rating in a report on Friday, October 12th. Barclays boosted their price target on Arthur J Gallagher & Co from $82.00 to $87.00 and gave the stock an “overweight” rating in a report on Monday, November 12th. ValuEngine raised Arthur J Gallagher & Co from a “hold” rating to a “buy” rating in a report on Tuesday, October 2nd. Finally, Credit Suisse Group began coverage on Arthur J Gallagher & Co in a report on Tuesday, August 7th. They issued an “outperform” rating and a $84.00 price target for the company. Five equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $78.55.

In related news, General Counsel Walter D. Bay sold 3,985 shares of the company’s stock in a transaction on Friday, September 14th. The stock was sold at an average price of $75.09, for a total value of $299,233.65. Following the completion of the transaction, the general counsel now directly owns 16,269 shares in the company, valued at $1,221,639.21. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP William F. Ziebell sold 12,500 shares of the company’s stock in a transaction on Thursday, September 13th. The shares were sold at an average price of $74.78, for a total value of $934,750.00. Following the completion of the transaction, the vice president now owns 16,792 shares of the company’s stock, valued at $1,255,705.76. The disclosure for this sale can be found here. Corporate insiders own 1.60% of the company’s stock.

Arthur J Gallagher & Co stock opened at $76.67 on Friday. The firm has a market capitalization of $14.04 billion, a P/E ratio of 25.06, a price-to-earnings-growth ratio of 2.04 and a beta of 1.00. Arthur J Gallagher & Co has a 52 week low of $62.04 and a 52 week high of $79.03. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.68.

Arthur J Gallagher & Co (NYSE:AJG) last released its earnings results on Thursday, October 25th. The financial services provider reported $0.78 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.77 by $0.01. The firm had revenue of $1.78 billion during the quarter, compared to analyst estimates of $1.69 billion. Arthur J Gallagher & Co had a return on equity of 15.50% and a net margin of 9.04%. Research analysts predict that Arthur J Gallagher & Co will post 3.44 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 21st. Investors of record on Friday, December 7th will be paid a $0.41 dividend. The ex-dividend date is Thursday, December 6th. This represents a $1.64 annualized dividend and a yield of 2.14%. Arthur J Gallagher & Co’s payout ratio is currently 53.59%.

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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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