Ameriprise Financial Inc. boosted its holdings in shares of Arthur J. Gallagher & Co. (NYSE:AJG) by 10.3% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 370,768 shares of the financial services provider’s stock after purchasing an additional 34,523 shares during the period. Ameriprise Financial Inc. owned about 0.21% of Arthur J. Gallagher & Co. worth $21,225,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in AJG. Pacer Advisors Inc. lifted its stake in 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 purchasing an additional 99 shares during the last quarter. Koch Industries Inc. bought a new position in shares of Arthur J. Gallagher & Co. in the 1st quarter valued at $210,000. Cambridge Investment Research Advisors Inc. bought a new position in shares of Arthur J. Gallagher & Co. in the 1st quarter valued at $215,000. Gilbert & Cook Inc. bought a new position in shares of Arthur J. Gallagher & Co. in the 2nd quarter valued at $224,000. Finally, Blair William & Co. IL bought a new position in shares of Arthur J. Gallagher & Co. in the 2nd quarter valued at $224,000. Hedge funds and other institutional investors own 81.29% of the company’s stock.

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Shares of Arthur J. Gallagher & Co. (NYSE AJG) opened at 61.55 on Friday. The firm has a market capitalization of $11.09 billion, a P/E ratio of 24.82 and a beta of 1.20. Arthur J. Gallagher & Co. has a 12-month low of $47.16 and a 12-month high of $61.63. The company has a 50-day moving average price of $58.80 and a 200-day moving average price 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 earnings per share for the quarter, topping the consensus estimate of $1.02 by $0.01. The business had revenue of $1.56 billion during the quarter, compared to the consensus estimate 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 for the quarter was up 9.6% on a year-over-year basis. During the same period in the previous year, the firm posted $0.96 earnings per share. Equities analysts predict that Arthur J. Gallagher & Co. will post $3.02 EPS for the current year.

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

In other Arthur J. Gallagher & Co. news, insider Susan E. Pietrucha sold 6,932 shares of the business’s stock in a transaction on Tuesday, August 1st. The shares were sold at an average price of $59.28, for a total value of $410,928.96. Following the completion of the sale, the insider now directly owns 3,253 shares of the company’s stock, valued at $192,837.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Douglas K. Howell sold 9,967 shares of the business’s stock in a transaction on Thursday, September 14th. The stock was sold at an average price of $59.98, for a total transaction of $597,820.66. Following the completion of the sale, 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 three months. 1.60% of the stock is currently owned by insiders.

A number of research analysts have recently commented on the company. Wells Fargo & Company reiterated a “buy” rating and issued a $66.00 price target on shares of Arthur J. Gallagher & Co. in a research note on Sunday, September 17th. Keefe, Bruyette & Woods reiterated a “buy” rating and issued a $62.00 price target on shares of Arthur J. Gallagher & Co. in a research note on Friday, August 18th. Barclays PLC increased their price target on Arthur J. Gallagher & Co. from $66.00 to $68.00 and gave the company an “overweight” rating in a research note on Friday, August 11th. Citigroup Inc. increased their price target on Arthur J. Gallagher & Co. from $60.00 to $62.00 and gave the company a “neutral” rating in a research note on Monday, August 7th. Finally, Zacks Investment Research upgraded Arthur J. Gallagher & Co. from a “sell” rating to a “hold” rating in a research note on Wednesday, August 2nd. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and five have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $62.50.

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.

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

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