Arthur J. Gallagher & Co. (NYSE:AJG) Position Cut by Charter Trust Co.

Charter Trust Co. reduced its stake in shares of Arthur J. Gallagher & Co. (NYSE:AJG) by 2.5% during the second quarter, Holdings Channel reports. The firm owned 9,080 shares of the financial services provider’s stock after selling 233 shares during the period. Charter Trust Co.’s holdings in Arthur J. Gallagher & Co. were worth $519,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the stock. Guinness Asset Management Ltd boosted its stake in shares of Arthur J. Gallagher & Co. by 16.1% in the second quarter. Guinness Asset Management Ltd now owns 204,392 shares of the financial services provider’s stock valued at $11,701,000 after buying an additional 28,399 shares during the period. DnB Asset Management AS boosted its stake in shares of Arthur J. Gallagher & Co. by 21.7% in the second quarter. DnB Asset Management AS now owns 23,000 shares of the financial services provider’s stock valued at $1,317,000 after buying an additional 4,100 shares during the period. Nomura Asset Management Co. Ltd. boosted its stake in shares of Arthur J. Gallagher & Co. by 2.4% in the first quarter. Nomura Asset Management Co. Ltd. now owns 21,888 shares of the financial services provider’s stock valued at $1,238,000 after buying an additional 508 shares during the period. Skandinaviska Enskilda Banken AB publ boosted its stake in shares of Arthur J. Gallagher & Co. by 19.2% in the first quarter. Skandinaviska Enskilda Banken AB publ now owns 8,067 shares of the financial services provider’s stock valued at $456,000 after buying an additional 1,300 shares during the period. Finally, Achmea Investment Management B.V. bought a new stake in shares of Arthur J. Gallagher & Co. during the first quarter valued at about $1,193,000. Institutional investors and hedge funds own 83.14% of the company’s stock.

Arthur J. Gallagher & Co. (NYSE AJG) traded down 0.3200% during midday trading on Monday, reaching $57.5253. The company’s stock had a trading volume of 428,893 shares. The company has a market cap of $10.33 billion, a PE ratio of 24.3236 and a beta of 1.19. Arthur J. Gallagher & Co. has a 12 month low of $47.16 and a 12 month high of $59.11. The stock has a 50-day moving average price of $56.97 and a 200 day moving average price of $55.38.

Arthur J. Gallagher & Co. (NYSE:AJG) last posted its quarterly earnings data on Thursday, April 27th. The financial services provider reported $0.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.39 by $0.01. Arthur J. Gallagher & Co. had a net margin of 7.42% and a return on equity of 13.56%. The company had revenue of $1.41 billion during the quarter, compared to the consensus estimate of $1.40 billion. The firm’s revenue was up 8.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.34 EPS. Analysts expect that Arthur J. Gallagher & Co. will post $3.02 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Friday, June 16th. Shareholders of record on Friday, June 2nd were paid a $0.39 dividend. This represents a $1.56 annualized dividend and a yield of 2.70%. The ex-dividend date was Wednesday, May 31st. Arthur J. Gallagher & Co.’s dividend payout ratio is presently 65.82%.

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Several equities research analysts recently issued reports on the company. Barclays PLC boosted their price target on Arthur J. Gallagher & Co. from $61.00 to $66.00 and gave the company an “overweight” rating in a research note on Monday, July 3rd. BidaskClub upgraded Arthur J. Gallagher & Co. from a “hold” rating to a “buy” rating in a research note on Saturday, July 1st. Zacks Investment Research cut Arthur J. Gallagher & Co. from a “hold” rating to a “sell” rating in a research note on Wednesday, June 28th. Wells Fargo & Company reiterated a “buy” rating on shares of Arthur J. Gallagher & Co. in a research note on Wednesday, June 14th. Finally, Keefe, Bruyette & Woods reiterated a “buy” rating and issued a $62.00 price target on shares of Arthur J. Gallagher & Co. in a research note on Friday, June 9th. Three equities research analysts have rated the stock with a sell rating, three have given a hold rating and seven have issued a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $57.29.

In other Arthur J. Gallagher & Co. news, VP William F. Ziebell sold 7,764 shares of the business’s stock in a transaction on Wednesday, May 24th. The shares were sold at an average price of $56.59, for a total value of $439,364.76. Following the completion of the sale, the vice president now directly owns 8,495 shares of the company’s stock, valued at $480,732.05. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Douglas K. Howell sold 20,000 shares of the business’s stock in a transaction on Monday, June 19th. The stock was sold at an average price of $58.85, for a total transaction of $1,177,000.00. Following the completion of the sale, the chief financial officer now directly owns 47,800 shares of the company’s stock, valued at $2,813,030. The disclosure for this sale can be found here. Insiders sold 32,897 shares of company stock valued at $1,906,551 over the last three months. 1.60% of the stock is currently owned by insiders.

About Arthur J. Gallagher & Co.

Arthur J. Gallagher & Co and its subsidiaries are engaged in providing insurance brokerage and consulting services, and third-party claims settlement and administration services to both domestic and international entities. The Company operates through three segments: brokerage, risk management and corporate.

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

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