Principal Financial Group Inc. lifted its stake in shares of Arthur J. Gallagher & Co. (NYSE:AJG) by 97.9% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,242,484 shares of the financial services provider’s stock after buying an additional 614,788 shares during the period. Principal Financial Group Inc. owned about 0.69% of Arthur J. Gallagher & Co. worth $71,132,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in AJG. Pacer Advisors Inc. increased its holdings in shares of Arthur J. Gallagher & Co. by 3.2% during the first quarter. Pacer Advisors Inc. now owns 3,176 shares of the financial services provider’s stock worth $180,000 after buying an additional 99 shares in the last quarter. Koch Industries Inc. acquired a new position in shares of Arthur J. Gallagher & Co. during the first quarter worth $210,000. Cambridge Investment Research Advisors Inc. acquired a new position in shares of Arthur J. Gallagher & Co. during the first quarter worth $215,000. Bronfman E.L. Rothschild L.P. increased its holdings in shares of Arthur J. Gallagher & Co. by 6.2% during the first quarter. Bronfman E.L. Rothschild L.P. now owns 3,847 shares of the financial services provider’s stock worth $218,000 after buying an additional 225 shares in the last quarter. Finally, Commerzbank Aktiengesellschaft FI acquired a new position in shares of Arthur J. Gallagher & Co. during the first quarter worth $224,000. Institutional investors own 81.59% of the company’s stock.

Shares of Arthur J. Gallagher & Co. (AJG) opened at 57.92 on Monday. The company has a 50-day moving average price of $58.43 and a 200-day moving average price of $57.08. Arthur J. Gallagher & Co. has a 12-month low of $47.16 and a 12-month high of $59.64. The firm has a market capitalization of $10.44 billion, a P/E ratio of 23.35 and a beta of 1.20.

Arthur J. Gallagher & Co. (NYSE:AJG) last issued its earnings results on Thursday, July 27th. The financial services provider reported $1.03 EPS for the quarter, topping analysts’ consensus estimates of $1.02 by $0.01. The company had revenue of $1.56 billion for the quarter, compared to analysts’ expectations of $1.54 billion. Arthur J. Gallagher & Co. had a net margin of 7.62% and a return on equity of 13.68%. The firm’s revenue was up 9.6% compared to the same quarter last year. During the same quarter last year, the company earned $0.96 EPS. Equities analysts predict that Arthur J. Gallagher & Co. will post $3.00 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Friday, September 1st will be given a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a yield of 2.69%. The ex-dividend date is Wednesday, August 30th. Arthur J. Gallagher & Co.’s payout ratio is presently 62.90%.

Several research analysts have recently issued reports on the stock. BidaskClub downgraded shares of Arthur J. Gallagher & Co. from a “buy” rating to a “hold” rating in a report on Wednesday, July 19th. Citigroup Inc. upped their price target on shares of Arthur J. Gallagher & Co. from $59.00 to $60.00 and gave the stock a “neutral” rating in a report on Thursday, July 13th. Royal Bank Of Canada reiterated a “hold” rating and set a $54.00 price target on shares of Arthur J. Gallagher & Co. in a report on Wednesday, July 12th. Zacks Investment Research upgraded shares of Arthur J. Gallagher & Co. from a “sell” rating to a “hold” rating in a report on Wednesday, August 2nd. Finally, Keefe, Bruyette & Woods reiterated a “buy” rating and set a $62.00 price target on shares of Arthur J. Gallagher & Co. in a report on Friday, June 9th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and six have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $59.33.

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In other Arthur J. Gallagher & Co. news, insider Susan E. Pietrucha sold 6,932 shares of the business’s stock in a transaction dated Tuesday, August 1st. The shares were sold at an average price of $59.28, for a total value of $410,928.96. Following the transaction, the insider now owns 3,253 shares in the company, valued at $192,837.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Susan E. Pietrucha sold 3,601 shares of the business’s stock in a transaction dated Thursday, August 31st. The shares were sold at an average price of $57.78, for a total transaction of $208,065.78. Following the completion of the transaction, the insider now owns 4,055 shares in the company, valued at approximately $234,297.90. The disclosure for this sale can be found here. In the last quarter, insiders sold 41,533 shares of company stock worth $2,441,785. 1.60% of the stock is owned by corporate insiders.

Arthur J. Gallagher & Co. Profile

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.

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

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