Icon Advisers Inc. Co. reduced its position in shares of Arthur J. Gallagher & Co. (NYSE:AJG) by 39.1% during the third quarter, according to its most recent filing with the SEC. The fund owned 36,100 shares of the company’s stock after selling 23,200 shares during the period. Icon Advisers Inc. Co.’s holdings in Arthur J. Gallagher & Co. were worth $1,836,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its position in Arthur J. Gallagher & Co. by 23.4% in the second quarter. Vanguard Group Inc. now owns 15,749,325 shares of the company’s stock worth $749,668,000 after buying an additional 2,987,125 shares in the last quarter. State Street Corp raised its stake in Arthur J. Gallagher & Co. by 22.9% in the second quarter. State Street Corp now owns 7,802,461 shares of the company’s stock valued at $371,397,000 after buying an additional 1,456,359 shares during the last quarter. Kleinwort Benson Investors Dublin Ltd acquired a new stake in Arthur J. Gallagher & Co. during the second quarter valued at about $37,142,000. Vaughan Nelson Investment Management L.P. raised its stake in Arthur J. Gallagher & Co. by 28.9% in the third quarter. Vaughan Nelson Investment Management L.P. now owns 2,416,335 shares of the company’s stock valued at $122,920,000 after buying an additional 541,945 shares during the last quarter. Finally, Virginia Retirement Systems ET AL acquired a new stake in Arthur J. Gallagher & Co. during the second quarter valued at about $24,390,000. 81.37% of the stock is currently owned by institutional investors and hedge funds.

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

Shares of Arthur J. Gallagher & Co. (NYSE:AJG) traded up 0.06% during trading on Tuesday, hitting $51.25. 972,484 shares of the company’s stock were exchanged. The stock has a market cap of $9.12 billion, a P/E ratio of 23.88 and a beta of 1.10. The firm has a 50-day moving average price of $49.83 and a 200-day moving average price of $49.01. Arthur J. Gallagher & Co. has a one year low of $35.96 and a one year high of $52.34.

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

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 16th. Stockholders of record on Friday, December 2nd will be issued a $0.38 dividend. The ex-dividend date of this dividend 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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AJG has been the subject of several analyst reports. Barclays PLC restated an “overweight” rating and set a $52.00 price target on shares of Arthur J. Gallagher & Co. in a research report on Monday, September 26th. Zacks Investment Research lowered shares of Arthur J. Gallagher & Co. from a “hold” rating to a “sell” rating in a research report on Tuesday, October 4th. Goldman Sachs Group Inc. lowered shares of Arthur J. Gallagher & Co. from a “neutral” rating to a “sell” rating in a research report on Tuesday, November 15th. Citigroup Inc. upped their price target on shares of Arthur J. Gallagher & Co. from $56.00 to $57.00 and gave the company a “buy” rating in a research report on Tuesday, October 11th. Finally, Credit Suisse Group AG restated a “buy” rating and set a $47.00 price target on shares of Arthur J. Gallagher & Co. in a research report on Monday, September 12th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and ten have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $51.69.

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

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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