Arthur J Gallagher & Co (AJG) Shares Bought by FIL Ltd

FIL Ltd raised its holdings in Arthur J Gallagher & Co (NYSE:AJG) by 17.8% in the third quarter, Holdings Channel reports. The institutional investor owned 562,629 shares of the financial services provider’s stock after acquiring an additional 85,124 shares during the quarter. FIL Ltd’s holdings in Arthur J Gallagher & Co were worth $41,882,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in AJG. Cutler Group LP purchased a new position in shares of Arthur J Gallagher & Co in the third quarter worth about $101,000. Dupont Capital Management Corp raised its stake in shares of Arthur J Gallagher & Co by 92.3% in the second quarter. Dupont Capital Management Corp now owns 1,579 shares of the financial services provider’s stock worth $103,000 after purchasing an additional 758 shares during the last quarter. Braun Bostich & Associates Inc. raised its stake in shares of Arthur J Gallagher & Co by 528.7% in the second quarter. Braun Bostich & Associates Inc. now owns 1,773 shares of the financial services provider’s stock worth $116,000 after purchasing an additional 1,491 shares during the last quarter. Point72 Hong Kong Ltd purchased a new position in shares of Arthur J Gallagher & Co in the second quarter worth about $127,000. Finally, Migdal Insurance & Financial Holdings Ltd. raised its stake in shares of Arthur J Gallagher & Co by 84.6% in the third quarter. Migdal Insurance & Financial Holdings Ltd. now owns 1,953 shares of the financial services provider’s stock worth $145,000 after purchasing an additional 895 shares during the last quarter. Institutional investors own 83.30% of the company’s stock.

Shares of NYSE:AJG opened at $76.67 on Monday. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.68. The company has a market capitalization of $14.08 billion, a PE ratio of 25.06, a PEG ratio of 2.05 and a beta of 1.00. Arthur J Gallagher & Co has a 1 year low of $62.04 and a 1 year high of $79.03.

Arthur J Gallagher & Co (NYSE:AJG) last issued its quarterly earnings results on Thursday, October 25th. The financial services provider reported $0.78 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.77 by $0.01. The firm had revenue of $1.78 billion for 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 anticipate that Arthur J Gallagher & Co will post 3.44 EPS for the current fiscal year.

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

Several analysts have commented on AJG shares. Credit Suisse Group set a $84.00 price objective on Arthur J Gallagher & Co and gave the company a “buy” rating in a report on Tuesday, September 25th. Wells Fargo & Co reissued a “buy” rating and issued a $85.00 price objective on shares of Arthur J Gallagher & Co in a report on Thursday, October 25th. Barclays raised their price objective on Arthur J Gallagher & Co from $82.00 to $87.00 and gave the company an “overweight” rating in a report on Monday, November 12th. William Blair reissued a “buy” rating on shares of Arthur J Gallagher & Co in a report on Thursday, August 16th. Finally, Morgan Stanley raised their price objective on Arthur J Gallagher & Co from $71.00 to $77.00 and gave the company a “hold” rating in a report on Wednesday, November 14th. Five research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $78.55.

In other news, General Counsel Walter D. Bay sold 3,985 shares of Arthur J Gallagher & Co stock in a transaction that occurred 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 sale, the general counsel now directly owns 16,269 shares of the company’s stock, valued at $1,221,639.21. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP William F. Ziebell sold 12,500 shares of Arthur J Gallagher & Co 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 completion of the sale, the vice president now directly owns 16,792 shares in the company, valued at $1,255,705.76. The disclosure for this sale can be found here. Insiders own 1.60% of the company’s stock.

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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.

Further Reading: Why is the ex-dividend date different from the record date?

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

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