Arthur J. Gallagher & Co. (NYSE:AJG) Holdings Lifted by State of Alaska Department of Revenue

State of Alaska Department of Revenue increased its holdings in shares of Arthur J. Gallagher & Co. (NYSE:AJGGet Rating) by 45.6% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 51,479 shares of the financial services provider’s stock after buying an additional 16,120 shares during the quarter. State of Alaska Department of Revenue’s holdings in Arthur J. Gallagher & Co. were worth $8,392,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. FinTrust Capital Advisors LLC purchased a new position in Arthur J. Gallagher & Co. in the first quarter valued at about $25,000. Riverview Trust Co purchased a new position in Arthur J. Gallagher & Co. in the first quarter valued at about $34,000. Ahrens Investment Partners LLC purchased a new position in Arthur J. Gallagher & Co. in the first quarter valued at about $37,000. Zullo Investment Group Inc. grew its stake in Arthur J. Gallagher & Co. by 223.0% in the first quarter. Zullo Investment Group Inc. now owns 239 shares of the financial services provider’s stock valued at $42,000 after purchasing an additional 165 shares in the last quarter. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA purchased a new position in Arthur J. Gallagher & Co. in the fourth quarter valued at about $51,000. Hedge funds and other institutional investors own 81.22% of the company’s stock.

Insider Buying and Selling at Arthur J. Gallagher & Co.

In other Arthur J. Gallagher & Co. news, Director David S. Johnson sold 1,000 shares of the company’s stock in a transaction that occurred on Monday, August 22nd. The stock was sold at an average price of $190.14, for a total value of $190,140.00. Following the completion of the transaction, the director now owns 47,508 shares of the company’s stock, valued at approximately $9,033,171.12. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Arthur J. Gallagher & Co. news, General Counsel Walter D. Bay sold 5,100 shares of the company’s stock in a transaction that occurred on Tuesday, August 9th. The stock was sold at an average price of $181.00, for a total value of $923,100.00. Following the completion of the transaction, the general counsel now owns 38,217 shares of the company’s stock, valued at approximately $6,917,277. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director David S. Johnson sold 1,000 shares of the company’s stock in a transaction that occurred on Monday, August 22nd. The shares were sold at an average price of $190.14, for a total value of $190,140.00. Following the completion of the sale, the director now owns 47,508 shares in the company, valued at $9,033,171.12. The disclosure for this sale can be found here. Insiders sold a total of 31,683 shares of company stock valued at $5,901,941 in the last quarter. Corporate insiders own 1.40% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the company. Royal Bank of Canada upgraded Arthur J. Gallagher & Co. from a “sector perform” rating to an “outperform” rating and boosted their target price for the company from $182.00 to $185.00 in a research note on Thursday, June 16th. The Goldman Sachs Group initiated coverage on Arthur J. Gallagher & Co. in a research report on Tuesday, July 12th. They issued a “buy” rating and a $198.00 price target for the company. Raymond James boosted their price target on Arthur J. Gallagher & Co. from $195.00 to $205.00 and gave the stock a “strong-buy” rating in a research report on Monday, August 1st. Argus initiated coverage on Arthur J. Gallagher & Co. in a research report on Friday, August 26th. They issued a “buy” rating and a $215.00 price target for the company. Finally, Morgan Stanley boosted their price target on Arthur J. Gallagher & Co. from $162.00 to $215.00 and gave the stock an “equal weight” rating in a research report on Friday, August 19th. Three analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $201.90.

Arthur J. Gallagher & Co. Price Performance

NYSE AJG opened at $179.45 on Monday. Arthur J. Gallagher & Co. has a twelve month low of $144.78 and a twelve month high of $191.99. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.05 and a current ratio of 1.05. The stock has a market capitalization of $37.74 billion, a PE ratio of 36.25, a P/E/G ratio of 2.31 and a beta of 0.67. The stock has a 50-day simple moving average of $179.53 and a 200 day simple moving average of $170.26.

Arthur J. Gallagher & Co. (NYSE:AJGGet Rating) last posted its quarterly earnings data on Thursday, July 28th. The financial services provider reported $1.70 earnings per share for the quarter, topping the consensus estimate of $1.68 by $0.02. The business had revenue of $2.04 billion during the quarter, compared to analysts’ expectations of $2.04 billion. Arthur J. Gallagher & Co. had a return on equity of 16.62% and a net margin of 12.31%. The firm’s revenue was up 5.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.17 EPS. Research analysts anticipate that Arthur J. Gallagher & Co. will post 7.78 EPS for the current year.

Arthur J. Gallagher & Co. Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 16th. Shareholders of record on Friday, September 2nd were issued a $0.51 dividend. The ex-dividend date of this dividend was Thursday, September 1st. This represents a $2.04 annualized dividend and a yield of 1.14%. Arthur J. Gallagher & Co.’s dividend payout ratio (DPR) is 41.21%.

About Arthur J. Gallagher & Co.

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Arthur J. Gallagher & Co, together with its subsidiaries, provides insurance brokerage, consulting, third-party claims settlement, and administration services in the United States, Australia, Bermuda, Canada, the Caribbean, New Zealand, India, and the United Kingdom. It operates through Brokerage and Risk Management segments.

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

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