Mirae Asset Global Investments Co. Ltd. Has $6.16 Million Stock Position in Arthur J. Gallagher & Co. (NYSE:AJG)

Mirae Asset Global Investments Co. Ltd. lifted its stake in Arthur J. Gallagher & Co. (NYSE:AJGGet Rating) by 17.3% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 35,289 shares of the financial services provider’s stock after acquiring an additional 5,213 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Arthur J. Gallagher & Co. were worth $6,162,000 as of its most recent SEC filing.

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

Insiders Place Their Bets

In other Arthur J. Gallagher & Co. news, Director David S. Johnson sold 1,000 shares of the company’s stock in a transaction on Monday, August 22nd. The stock was sold at an average price of $190.14, for a total transaction of $190,140.00. Following the completion of the sale, the director now directly owns 47,508 shares in the company, valued at $9,033,171.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CAO Richard C. Cary sold 3,383 shares of the stock in a transaction on Tuesday, August 9th. The stock was sold at an average price of $182.16, for a total value of $616,247.28. Following the completion of the transaction, the chief accounting officer now directly owns 36,310 shares in the company, valued at approximately $6,614,229.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director David S. Johnson sold 1,000 shares of the stock in a transaction 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 transaction, the director now owns 47,508 shares of the company’s stock, valued at $9,033,171.12. The disclosure for this sale can be found here. Insiders sold 31,683 shares of company stock worth $5,901,941 over the last three months. Insiders own 1.40% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently commented on AJG. Jefferies Financial Group decreased their target price on Arthur J. Gallagher & Co. from $211.00 to $200.00 and set a “buy” rating on the stock in a research report on Tuesday, July 12th. Evercore ISI set a $195.00 target price on Arthur J. Gallagher & Co. in a research report on Monday, June 20th. The Goldman Sachs Group began coverage on Arthur J. Gallagher & Co. in a research report on Tuesday, July 12th. They issued a “buy” rating and a $198.00 target price on the stock. Morgan Stanley upped their target price on Arthur J. Gallagher & Co. from $162.00 to $215.00 and gave the company an “equal weight” rating in a research report on Friday, August 19th. Finally, Wells Fargo & Company upped their target price on Arthur J. Gallagher & Co. from $211.00 to $212.00 and gave the company an “overweight” rating in a research report on Wednesday. Four research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $201.55.

Arthur J. Gallagher & Co. Trading Down 2.7 %

Shares of AJG stock opened at $174.32 on Thursday. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.63. The stock has a market cap of $36.67 billion, a P/E ratio of 35.22, a price-to-earnings-growth ratio of 2.33 and a beta of 0.67. The stock has a 50 day simple moving average of $180.12 and a 200 day simple moving average of $170.55. Arthur J. Gallagher & Co. has a 1 year low of $147.32 and a 1 year high of $191.99.

Arthur J. Gallagher & Co. (NYSE:AJGGet Rating) last released its earnings results 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. Arthur J. Gallagher & Co. had a return on equity of 16.62% and a net margin of 12.31%. The firm had revenue of $2.04 billion during the quarter, compared to analysts’ expectations of $2.04 billion. During the same period in the prior year, the company earned $1.17 earnings per share. The company’s quarterly revenue was up 5.7% on a year-over-year basis. On average, research analysts predict that Arthur J. Gallagher & Co. will post 7.78 earnings per share for the current fiscal year.

Arthur J. Gallagher & Co. Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, September 16th. Shareholders of record on Friday, September 2nd were paid a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a yield of 1.17%. The ex-dividend date was Thursday, September 1st. Arthur J. Gallagher & Co.’s payout ratio is presently 41.21%.

Arthur J. Gallagher & Co. Company Profile

(Get Rating)

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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