Westpac Banking Corp held its position in Arthur J. Gallagher & Co. (NYSE:AJG) during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 11,444 shares of the financial services provider’s stock at the close of the second quarter. Westpac Banking Corp’s holdings in Arthur J. Gallagher & Co. were worth $655,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in AJG. Pacer Advisors Inc. grew its stake 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 valued at $180,000 after buying an additional 99 shares during the last quarter. Koch Industries Inc. bought a new position in shares of Arthur J. Gallagher & Co. during the first quarter valued at approximately $210,000. Cambridge Investment Research Advisors Inc. bought a new position in shares of Arthur J. Gallagher & Co. during the first quarter valued at approximately $215,000. Bronfman E.L. Rothschild L.P. grew its stake 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 valued at $218,000 after buying an additional 225 shares during the last quarter. Finally, Commerzbank Aktiengesellschaft FI bought a new position in shares of Arthur J. Gallagher & Co. during the first quarter valued at approximately $224,000. 81.59% of the stock is currently owned by hedge funds and other institutional investors.

A number of research firms have recently commented on AJG. BidaskClub cut Arthur J. Gallagher & Co. from a “buy” rating to a “hold” rating in a research note on Wednesday, July 19th. Wells Fargo & Company reaffirmed a “buy” rating on shares of Arthur J. Gallagher & Co. in a research note on Wednesday, June 14th. Zacks Investment Research cut Arthur J. Gallagher & Co. from a “hold” rating to a “sell” rating in a research note on Wednesday, June 28th. Barclays PLC upped their target price 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. Finally, Keefe, Bruyette & Woods reaffirmed a “buy” rating and set a $62.00 target price on shares of Arthur J. Gallagher & Co. in a research note on Friday, August 18th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and five have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $61.80.

In related news, CFO Douglas K. Howell sold 20,000 shares of Arthur J. Gallagher & Co. stock in a transaction that occurred on Monday, June 19th. The shares were sold at an average price of $58.85, for a total value of $1,177,000.00. Following the completion of the sale, the chief financial officer now owns 47,800 shares in the company, valued at approximately $2,813,030. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Susan E. Pietrucha sold 3,601 shares of Arthur J. Gallagher & Co. stock in a transaction that occurred on 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 sale, the insider now owns 4,055 shares of the company’s stock, valued at approximately $234,297.90. The disclosure for this sale can be found here. Insiders sold a total of 40,533 shares of company stock valued at $2,383,295 in the last quarter. 1.60% of the stock is owned by insiders.

Arthur J. Gallagher & Co. (AJG) opened at 60.32 on Wednesday. Arthur J. Gallagher & Co. has a 52 week low of $47.16 and a 52 week high of $61.44. The company has a market cap of $10.87 billion, a PE ratio of 24.32 and a beta of 1.20. The company has a 50-day moving average price of $58.56 and a 200 day moving average price of $57.18.

Arthur J. Gallagher & Co. (NYSE:AJG) last posted its earnings results on Thursday, July 27th. The financial services provider reported $1.03 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.02 by $0.01. Arthur J. Gallagher & Co. had a net margin of 7.62% and a return on equity of 13.68%. The firm had revenue of $1.56 billion during the quarter, compared to the consensus estimate of $1.54 billion. During the same quarter last year, the firm earned $0.96 EPS. The firm’s revenue for the quarter was up 9.6% on a year-over-year basis. On average, equities research analysts forecast that Arthur J. Gallagher & Co. will post $3.00 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Friday, September 1st will be issued a $0.39 dividend. The ex-dividend date of this dividend is Wednesday, August 30th. This represents a $1.56 annualized dividend and a yield of 2.59%. Arthur J. Gallagher & Co.’s dividend payout ratio (DPR) is presently 62.90%.

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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.

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

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