Prudential PLC cut its holdings in shares of Arthur J. Gallagher & Co. (NYSE:AJG) by 12.9% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 4,969,321 shares of the financial services provider’s stock after selling 739,220 shares during the period. Arthur J. Gallagher & Co. makes up approximately 0.9% of Prudential PLC’s investment portfolio, making the stock its 18th largest holding. Prudential PLC owned 2.76% of Arthur J. Gallagher & Co. worth $284,495,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of the business. Pacer Advisors Inc. boosted its holdings in shares of Arthur J. Gallagher & Co. by 3.2% in 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 period. Koch Industries Inc. acquired a new stake in shares of Arthur J. Gallagher & Co. during the first quarter worth $210,000. Cambridge Investment Research Advisors Inc. acquired a new stake in shares of Arthur J. Gallagher & Co. during the first quarter worth $215,000. Blair William & Co. IL acquired a new stake in shares of Arthur J. Gallagher & Co. during the second quarter worth $224,000. Finally, Gilbert & Cook Inc. acquired a new stake in shares of Arthur J. Gallagher & Co. during the second quarter worth $224,000. Hedge funds and other institutional investors own 81.29% of the company’s stock.

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

A number of equities analysts recently weighed in on AJG shares. Wells Fargo & Company reaffirmed a “buy” rating on shares of Arthur J. Gallagher & Co. in a research note on Thursday, July 27th. BidaskClub upgraded Arthur J. Gallagher & Co. from a “hold” rating to a “buy” rating in a report on Thursday, July 27th. Barclays PLC lifted their price target 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. Citigroup Inc. lifted 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, Keefe, Bruyette & Woods restated a “buy” rating and issued a $62.00 price target on shares of Arthur J. Gallagher & Co. in a report on Friday, August 18th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and five have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $62.50.

Arthur J. Gallagher & Co. (NYSE AJG) traded up 0.08% on Tuesday, reaching $61.74. 158,711 shares of the company were exchanged. The company’s 50-day moving average price is $59.42 and its 200-day moving average price is $57.62. Arthur J. Gallagher & Co. has a 12-month low of $47.16 and a 12-month high of $61.87. The stock has a market capitalization of $11.12 billion, a P/E ratio of 24.90 and a beta of 1.21.

Arthur J. Gallagher & Co. (NYSE:AJG) last announced its quarterly earnings data on Thursday, July 27th. The financial services provider reported $1.03 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.02 by $0.01. The firm had revenue of $1.56 billion for 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 company’s revenue was up 9.6% on a year-over-year basis. During the same period last year, the firm earned $0.96 EPS. Equities research analysts anticipate that Arthur J. Gallagher & Co. will post $3.02 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Friday, September 15th. Investors of record on Friday, September 1st were issued 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 currently 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.

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

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