Union Bankshares Corp increased its stake in shares of Arthur J. Gallagher & Co. (NYSE:AJG) by 0.2% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 41,133 shares of the company’s stock after buying an additional 94 shares during the period. Union Bankshares Corp’s holdings in Arthur J. Gallagher & Co. were worth $2,092,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Creative Planning increased its stake in Arthur J. Gallagher & Co. by 3.9% in the second quarter. Creative Planning now owns 2,280 shares of the company’s stock valued at $109,000 after buying an additional 85 shares in the last quarter. Mizuho Asset Management Co. Ltd. bought a new stake in Arthur J. Gallagher & Co. during the second quarter valued at approximately $110,000. Seven Eight Capital LLC bought a new stake in Arthur J. Gallagher & Co. during the second quarter valued at approximately $114,000. Global X Management Co. LLC bought a new stake in Arthur J. Gallagher & Co. during the second quarter valued at approximately $125,000. Finally, Washington Trust Bank increased its stake in Arthur J. Gallagher & Co. by 33.1% in the second quarter. Washington Trust Bank now owns 3,501 shares of the company’s stock valued at $167,000 after buying an additional 870 shares in the last quarter. 81.37% of the stock is owned by hedge funds and other institutional investors.

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

Shares of Arthur J. Gallagher & Co. (NYSE:AJG) traded up 0.06% during midday trading on Tuesday, reaching $51.25. The company’s stock had a trading volume of 972,484 shares. The stock’s 50 day moving average is $49.83 and its 200 day moving average is $49.01. Arthur J. Gallagher & Co. has a 12 month low of $35.96 and a 12 month high of $52.34. The stock has a market capitalization of $9.12 billion, a PE ratio of 23.88 and a beta of 1.10.

Arthur J. Gallagher & Co. (NYSE:AJG) last released its quarterly earnings results on Thursday, October 27th. The company reported $0.77 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.76 by $0.01. The company had revenue of $1.48 billion for the quarter, compared to analysts’ expectations of $388.20 million. Arthur J. Gallagher & Co. had a return on equity of 12.86% and a net margin of 6.88%. The business’s revenue for the quarter was up 1.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.77 earnings per share. On average, analysts forecast that Arthur J. Gallagher & Co. will post $2.75 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 16th. Stockholders of record on Friday, December 2nd will be issued a dividend of $0.38 per share. The ex-dividend date is Wednesday, November 30th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 2.97%. Arthur J. Gallagher & Co.’s dividend payout ratio (DPR) is presently 71.03%.

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Several research firms have commented on AJG. Keefe, Bruyette & Woods upped their price objective on Arthur J. Gallagher & Co. from $55.00 to $57.00 and gave the company an “outperform” rating in a research note on Monday, August 1st. Wells Fargo & Co. reaffirmed a “buy” rating on shares of Arthur J. Gallagher & Co. in a research note on Tuesday, September 27th. Credit Suisse Group AG reissued a “buy” rating and set a $47.00 target price on shares of Arthur J. Gallagher & Co. in a research note on Monday, September 12th. Citigroup Inc. increased their target price on Arthur J. Gallagher & Co. from $56.00 to $57.00 and gave the stock a “buy” rating in a research note on Tuesday, October 11th. Finally, Barclays PLC increased their target price on Arthur J. Gallagher & Co. from $52.00 to $56.00 and gave the stock an “overweight” rating in a research note on Sunday, October 2nd. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and ten have issued a buy rating to the company’s stock. Arthur J. Gallagher & Co. has a consensus rating of “Buy” and an average price target of $51.69.

In other news, Director William L. Bax sold 4,000 shares of Arthur J. Gallagher & Co. stock in a transaction that occurred on Thursday, November 10th. The stock was sold at an average price of $49.80, for a total transaction of $199,200.00. Following the sale, the director now owns 34,320 shares of the company’s stock, valued at $1,709,136. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Douglas K. Howell sold 9,000 shares of Arthur J. Gallagher & Co. stock in a transaction that occurred on Thursday, September 15th. The shares were sold at an average price of $50.10, for a total value of $450,900.00. Following the sale, the chief financial officer now directly owns 43,018 shares in the company, valued at approximately $2,155,201.80. The disclosure for this sale can be found here. Insiders own 1.70% of the company’s stock.

About Arthur J. Gallagher & Co.

Arthur J. Gallagher & Co is 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. The Company provides insurance, brokerage and risk management services to a range of commercial, industrial, institutional and governmental organizations through its operating segments.

5 Day Chart for NYSE:AJG

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