Commerce Bank trimmed its position in shares of Arthur J Gallagher & Co (NYSE:AJG) by 35.8% in the first quarter, HoldingsChannel.com reports. The fund owned 81,481 shares of the financial services provider’s stock after selling 45,350 shares during the quarter. Commerce Bank’s holdings in Arthur J Gallagher & Co were worth $6,364,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently added to or reduced their stakes in the company. Destination Wealth Management boosted its holdings in Arthur J Gallagher & Co by 308.2% during the fourth quarter. Destination Wealth Management now owns 396 shares of the financial services provider’s stock valued at $29,000 after acquiring an additional 299 shares during the period. Oregon Public Employees Retirement Fund boosted its holdings in Arthur J Gallagher & Co by 6,202.0% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 2,656,369 shares of the financial services provider’s stock valued at $36,000 after acquiring an additional 2,614,218 shares during the period. Quadrant Capital Group LLC boosted its holdings in Arthur J Gallagher & Co by 156.9% during the first quarter. Quadrant Capital Group LLC now owns 506 shares of the financial services provider’s stock valued at $38,000 after acquiring an additional 309 shares during the period. Private Ocean LLC bought a new stake in Arthur J Gallagher & Co during the first quarter valued at about $39,000. Finally, Lindbrook Capital LLC bought a new stake in Arthur J Gallagher & Co during the fourth quarter valued at about $47,000. Institutional investors own 81.93% of the company’s stock.

In related news, Director Frank E. Jr. English sold 800 shares of the stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $83.08, for a total value of $66,464.00. Following the completion of the transaction, the director now owns 6,500 shares of the company’s stock, valued at $540,020. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Richard C. Cary sold 6,134 shares of the stock in a transaction dated Tuesday, April 30th. The stock was sold at an average price of $83.48, for a total transaction of $512,066.32. Following the completion of the transaction, the chief accounting officer now directly owns 35,193 shares of the company’s stock, valued at approximately $2,937,911.64. The disclosure for this sale can be found here. Insiders have sold 30,734 shares of company stock valued at $2,462,300 in the last ninety days. 1.30% of the stock is owned by company insiders.

Shares of AJG opened at $84.79 on Thursday. The stock has a market cap of $15.53 billion, a PE ratio of 23.55, a P/E/G ratio of 2.28 and a beta of 0.92. The company has a debt-to-equity ratio of 0.74, a current ratio of 1.12 and a quick ratio of 1.12. Arthur J Gallagher & Co has a 52 week low of $64.54 and a 52 week high of $84.81.

Arthur J Gallagher & Co (NYSE:AJG) last announced its quarterly earnings data on Thursday, April 25th. The financial services provider reported $1.63 EPS for the quarter, beating the Zacks’ consensus estimate of $1.61 by $0.02. The business had revenue of $1.90 billion during the quarter, compared to analyst estimates of $1.96 billion. Arthur J Gallagher & Co had a net margin of 9.79% and a return on equity of 14.33%. The firm’s revenue for the quarter was up 7.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.52 earnings per share. Equities analysts predict that Arthur J Gallagher & Co will post 3.74 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 21st. Stockholders of record on Friday, June 7th will be given a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a dividend yield of 2.03%. The ex-dividend date of this dividend is Thursday, June 6th. Arthur J Gallagher & Co’s dividend payout ratio is currently 49.86%.

A number of brokerages have recently commented on AJG. Barclays upped their price objective on shares of Arthur J Gallagher & Co from $93.00 to $97.00 and gave the company an “overweight” rating in a research report on Wednesday. Wells Fargo & Co reaffirmed a “buy” rating and set a $93.00 price objective on shares of Arthur J Gallagher & Co in a research report on Friday, April 26th. Zacks Investment Research raised shares of Arthur J Gallagher & Co from a “sell” rating to a “hold” rating in a research report on Friday, January 25th. Morgan Stanley upped their price objective on shares of Arthur J Gallagher & Co from $77.00 to $81.00 and gave the company an “equal weight” rating in a research report on Monday, April 29th. Finally, SunTrust Banks upped their price objective on shares of Arthur J Gallagher & Co to $95.00 and gave the company a “buy” rating in a research report on Friday, April 26th. Five investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $84.67.

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Arthur J Gallagher & Co Company Profile

Arthur J. Gallagher & Co, together with its subsidiaries, provides insurance brokerage, consulting, and third party claims settlement and administration services to entities in the United States and internationally. Its Brokerage segment consists of retail and wholesale insurance brokerage operations.

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

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