People s United Financial Inc. increased its position in shares of Arthur J. Gallagher & Co. (NYSE:AJG) by 23.6% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 60,393 shares of the financial services provider’s stock after purchasing an additional 11,547 shares during the period. People s United Financial Inc.’s holdings in Arthur J. Gallagher & Co. were worth $3,458,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. HighTower Advisors LLC lifted its holdings in Arthur J. Gallagher & Co. by 4.7% during the 1st quarter. HighTower Advisors LLC now owns 24,186 shares of the financial services provider’s stock worth $1,369,000 after purchasing an additional 1,087 shares during the last quarter. BB&T Securities LLC lifted its holdings in Arthur J. Gallagher & Co. by 59.9% during the 1st quarter. BB&T Securities LLC now owns 37,437 shares of the financial services provider’s stock worth $2,116,000 after purchasing an additional 14,029 shares during the last quarter. Aviva PLC lifted its holdings in Arthur J. Gallagher & Co. by 0.9% during the 2nd quarter. Aviva PLC now owns 111,022 shares of the financial services provider’s stock worth $6,356,000 after purchasing an additional 990 shares during the last quarter. WBI Investments Inc. lifted its holdings in Arthur J. Gallagher & Co. by 140.0% during the 2nd quarter. WBI Investments Inc. now owns 452,193 shares of the financial services provider’s stock worth $25,888,000 after purchasing an additional 263,757 shares during the last quarter. Finally, Principal Financial Group Inc. lifted its holdings in Arthur J. Gallagher & Co. by 97.9% during the 2nd quarter. Principal Financial Group Inc. now owns 1,242,484 shares of the financial services provider’s stock worth $71,132,000 after purchasing an additional 614,788 shares during the last quarter. 81.29% of the stock is owned by institutional investors and hedge funds.

AJG has been the subject of several analyst reports. Wells Fargo & Company reaffirmed a “buy” rating and issued a $66.00 price objective on shares of Arthur J. Gallagher & Co. in a report on Sunday, September 17th. Zacks Investment Research raised Arthur J. Gallagher & Co. from a “sell” rating to a “hold” rating in a report on Wednesday, August 2nd. Citigroup Inc. lifted their price objective on Arthur J. Gallagher & Co. from $60.00 to $62.00 and gave the company a “neutral” rating in a report on Monday, August 7th. BidaskClub raised Arthur J. Gallagher & Co. from a “hold” rating to a “buy” rating in a report on Thursday, July 27th. Finally, Barclays PLC lifted their price objective on Arthur J. Gallagher & Co. from $66.00 to $68.00 and gave the company an “overweight” rating in a report on Friday, August 11th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and five have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $62.50.

Shares of Arthur J. Gallagher & Co. (AJG) traded up 0.07% during trading on Friday, reaching $61.55. The company’s stock had a trading volume of 798,801 shares. Arthur J. Gallagher & Co. has a 52-week low of $47.16 and a 52-week high of $61.63. The stock has a market cap of $11.09 billion, a P/E ratio of 24.82 and a beta of 1.20. The stock has a 50-day moving average of $58.80 and a 200-day moving average of $57.32.

Arthur J. Gallagher & Co. (NYSE:AJG) last posted its quarterly earnings results on Thursday, July 27th. The financial services provider reported $1.03 EPS for the quarter, topping the Zacks’ consensus estimate of $1.02 by $0.01. Arthur J. Gallagher & Co. had a return on equity of 13.68% and a net margin of 7.62%. The firm had revenue of $1.56 billion during the quarter, compared to analyst estimates of $1.54 billion. During the same period last year, the company earned $0.96 earnings per share. The business’s revenue for the quarter was up 9.6% on a year-over-year basis. Analysts predict that Arthur J. Gallagher & Co. will post $3.02 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Friday, September 15th. Stockholders of record on Friday, September 1st were issued a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a dividend yield of 2.53%. The ex-dividend date of this dividend was Wednesday, August 30th. Arthur J. Gallagher & Co.’s payout ratio is currently 62.90%.

In other news, insider Susan E. Pietrucha sold 3,601 shares of the firm’s stock in a transaction on Thursday, August 31st. The stock was sold at an average price of $57.78, for a total value of $208,065.78. Following the completion of the transaction, the insider now directly owns 4,055 shares of the company’s stock, valued at $234,297.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Douglas K. Howell sold 9,967 shares of the firm’s stock in a transaction on Thursday, September 14th. The stock was sold at an average price of $59.98, for a total value of $597,820.66. Following the completion of the transaction, the chief financial officer now directly owns 47,767 shares of the company’s stock, valued at $2,865,064.66. The disclosure for this sale can be found here. Insiders sold 30,500 shares of company stock valued at $1,804,115 over the last ninety days. Corporate insiders own 1.60% of the company’s stock.

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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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