Rampart Investment Management Company LLC reduced its holdings in Arthur J Gallagher & Co (NYSE:AJG) by 3.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,107 shares of the financial services provider’s stock after selling 413 shares during the quarter. Rampart Investment Management Company LLC’s holdings in Arthur J Gallagher & Co were worth $885,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in AJG. JPMorgan Chase & Co. raised its holdings in shares of Arthur J Gallagher & Co by 52.3% in the 2nd quarter. JPMorgan Chase & Co. now owns 8,432,371 shares of the financial services provider’s stock worth $724,679,000 after purchasing an additional 2,895,732 shares in the last quarter. Investec Asset Management LTD raised its holdings in shares of Arthur J Gallagher & Co by 391.5% in the 2nd quarter. Investec Asset Management LTD now owns 648,507 shares of the financial services provider’s stock worth $11,557,000 after purchasing an additional 516,562 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Arthur J Gallagher & Co by 16.3% in the 4th quarter. Geode Capital Management LLC now owns 2,549,309 shares of the financial services provider’s stock worth $187,573,000 after purchasing an additional 358,129 shares in the last quarter. Swiss National Bank raised its holdings in shares of Arthur J Gallagher & Co by 34.0% in the 1st quarter. Swiss National Bank now owns 892,285 shares of the financial services provider’s stock worth $69,687,000 after purchasing an additional 226,300 shares in the last quarter. Finally, BlackRock Inc. raised its holdings in shares of Arthur J Gallagher & Co by 1.0% in the 2nd quarter. BlackRock Inc. now owns 19,169,460 shares of the financial services provider’s stock worth $1,679,052,000 after purchasing an additional 185,656 shares in the last quarter. Institutional investors and hedge funds own 81.62% of the company’s stock.

In related news, Director Kay W. Mccurdy sold 2,250 shares of the business’s stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $90.84, for a total transaction of $204,390.00. Following the transaction, the director now directly owns 30,232 shares of the company’s stock, valued at $2,746,274.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.30% of the company’s stock.

A number of analysts recently commented on the stock. Royal Bank of Canada set a $90.00 target price on shares of Arthur J Gallagher & Co and gave the stock a “hold” rating in a report on Friday, July 26th. Wells Fargo & Co boosted their price target on shares of Arthur J Gallagher & Co from $93.00 to $100.00 and gave the company an “outperform” rating in a report on Friday, June 14th. Barclays set a $107.00 price target on shares of Arthur J Gallagher & Co and gave the company a “buy” rating in a report on Monday, August 12th. Credit Suisse Group restated an “outperform” rating and set a $93.00 price target (up previously from $88.00) on shares of Arthur J Gallagher & Co in a report on Wednesday, August 7th. Finally, Zacks Investment Research upgraded shares of Arthur J Gallagher & Co from a “sell” rating to a “hold” rating and set a $76.00 price target on the stock in a report on Tuesday, July 23rd. Five investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $90.00.

Shares of AJG stock traded up $0.01 during trading hours on Thursday, reaching $89.89. 22,838 shares of the stock traded hands, compared to its average volume of 859,962. Arthur J Gallagher & Co has a 1-year low of $68.19 and a 1-year high of $92.74. The business has a fifty day moving average price of $89.36 and a 200 day moving average price of $85.43. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.77. The firm has a market capitalization of $16.80 billion, a PE ratio of 26.05, a PEG ratio of 2.50 and a beta of 0.82.

Arthur J Gallagher & Co (NYSE:AJG) last released its quarterly earnings results on Thursday, July 25th. The financial services provider reported $0.65 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.61 by $0.04. Arthur J Gallagher & Co had a net margin of 9.77% and a return on equity of 14.19%. The business had revenue of $1.62 billion for the quarter, compared to analyst estimates of $1.76 billion. During the same quarter in the previous year, the business earned $0.62 earnings per share. The firm’s revenue was up 1.4% compared to the same quarter last year. Research analysts expect that Arthur J Gallagher & Co will post 3.64 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 20th. Investors of record on Friday, September 6th will be given a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a yield of 1.91%. The ex-dividend date is Thursday, September 5th. Arthur J Gallagher & Co’s payout ratio is presently 49.86%.

Arthur J Gallagher & Co 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.

See Also: Equity Income

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

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