First Trust Advisors LP Has $129.26 Million Position in Arthur J Gallagher & Co (NYSE:AJG)

First Trust Advisors LP grew its stake in Arthur J Gallagher & Co (NYSE:AJG) by 196.2% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,443,133 shares of the financial services provider’s stock after purchasing an additional 955,840 shares during the period. First Trust Advisors LP owned about 0.77% of Arthur J Gallagher & Co worth $129,261,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also bought and sold shares of the company. Advisor Partners LLC increased its stake in Arthur J Gallagher & Co by 3.0% during the 2nd quarter. Advisor Partners LLC now owns 3,707 shares of the financial services provider’s stock valued at $325,000 after purchasing an additional 109 shares in the last quarter. FTB Advisors Inc. raised its stake in Arthur J Gallagher & Co by 4.8% in the 3rd quarter. FTB Advisors Inc. now owns 2,621 shares of the financial services provider’s stock valued at $234,000 after acquiring an additional 119 shares during the period. Commonwealth Bank of Australia raised its stake in Arthur J Gallagher & Co by 35.6% in the 2nd quarter. Commonwealth Bank of Australia now owns 480 shares of the financial services provider’s stock valued at $40,000 after acquiring an additional 126 shares during the period. Hanseatic Management Services Inc. raised its stake in Arthur J Gallagher & Co by 6.9% in the 2nd quarter. Hanseatic Management Services Inc. now owns 2,124 shares of the financial services provider’s stock valued at $186,000 after acquiring an additional 138 shares during the period. Finally, HBK Sorce Advisory LLC raised its stake in Arthur J Gallagher & Co by 4.6% in the 2nd quarter. HBK Sorce Advisory LLC now owns 3,125 shares of the financial services provider’s stock valued at $274,000 after acquiring an additional 138 shares during the period. Institutional investors and hedge funds own 81.46% of the company’s stock.

In other news, Director Kay W. Mccurdy sold 2,250 shares of the stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $90.84, for a total transaction of $204,390.00. Following the completion of the sale, the director now owns 30,232 shares of the company’s stock, valued at $2,746,274.88. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Susan E. Pietrucha sold 18,000 shares of the stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $90.33, for a total value of $1,625,940.00. Following the sale, the insider now directly owns 4,967 shares of the company’s stock, valued at approximately $448,669.11. The disclosure for this sale can be found here. 1.30% of the stock is owned by corporate insiders.

AJG has been the topic of a number of research reports. ValuEngine cut Arthur J Gallagher & Co from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. SunTrust Banks upped their price target on Arthur J Gallagher & Co from $102.00 to $108.00 and gave the company a “buy” rating in a research report on Tuesday, September 24th. Zacks Investment Research upgraded Arthur J Gallagher & Co from a “sell” rating to a “hold” rating and set a $76.00 price target on the stock in a research report on Tuesday, July 23rd. Barclays set a $107.00 price target on Arthur J Gallagher & Co and gave the company a “buy” rating in a research report on Monday, August 12th. Finally, Credit Suisse Group reiterated an “outperform” rating and set a $93.00 price target (up from $88.00) on shares of Arthur J Gallagher & Co in a research report on Wednesday, August 7th. Five equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $95.86.

AJG traded up $0.10 during midday trading on Friday, hitting $91.15. The stock had a trading volume of 569,179 shares, compared to its average volume of 983,349. The company has a market cap of $16.78 billion, a P/E ratio of 26.42, a price-to-earnings-growth ratio of 2.52 and a beta of 0.80. The business has a fifty day moving average of $89.26 and a 200 day moving average of $87.97. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.05 and a current ratio of 1.05. Arthur J Gallagher & Co has a 1 year low of $68.19 and a 1 year high of $92.74.

Arthur J Gallagher & Co (NYSE:AJG) last issued its earnings results on Thursday, October 24th. The financial services provider reported $0.80 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.79 by $0.01. The business had revenue of $1.79 billion during the quarter, compared to analyst estimates of $1.81 billion. Arthur J Gallagher & Co had a return on equity of 14.38% and a net margin of 9.69%. Arthur J Gallagher & Co’s revenue for the quarter was up 2.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.77 earnings per share. On average, equities research analysts anticipate that Arthur J Gallagher & Co will post 3.63 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Friday, December 6th will be paid a $0.43 dividend. This represents a $1.72 annualized dividend and a yield of 1.89%. The ex-dividend date is Thursday, December 5th. Arthur J Gallagher & Co’s dividend payout ratio is currently 49.86%.

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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