9,161 Arthur J. Gallagher & Co. $AJG Shares Bought by New York Life Investment Management LLC

New York Life Investment Management LLC raised its stake in shares of Arthur J. Gallagher & Co. (NYSE:AJG) by 24.7% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 46,214 shares of the financial services provider’s stock after purchasing an additional 9,161 shares during the quarter. New York Life Investment Management LLC’s holdings in Arthur J. Gallagher & Co. were worth $11,338,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in AJG. DMKC Advisory Services LLC acquired a new position in shares of Arthur J. Gallagher & Co. in the 3rd quarter valued at $2,263,000. 71 West Capital Partners raised its stake in Arthur J. Gallagher & Co. by 11.4% in the 3rd quarter. 71 West Capital Partners now owns 1,785 shares of the financial services provider’s stock worth $407,000 after acquiring an additional 182 shares during the last quarter. AlphaCore Capital LLC lifted its position in Arthur J. Gallagher & Co. by 83.7% during the 3rd quarter. AlphaCore Capital LLC now owns 3,779 shares of the financial services provider’s stock worth $862,000 after acquiring an additional 1,722 shares during the period. Running Oak Capital LLC lifted its position in Arthur J. Gallagher & Co. by 2.6% during the 3rd quarter. Running Oak Capital LLC now owns 51,111 shares of the financial services provider’s stock worth $11,659,000 after acquiring an additional 1,315 shares during the period. Finally, Retirement Systems of Alabama lifted its position in Arthur J. Gallagher & Co. by 27.2% during the 3rd quarter. Retirement Systems of Alabama now owns 254,812 shares of the financial services provider’s stock worth $59,327,000 after acquiring an additional 54,454 shares during the period. Hedge funds and other institutional investors own 85.53% of the company’s stock.

Arthur J. Gallagher & Co. Trading Down 0.3%

NYSE AJG opened at $281.88 on Thursday. Arthur J. Gallagher & Co. has a 1 year low of $190.75 and a 1 year high of $294.53. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.05 and a quick ratio of 1.05. The company has a market capitalization of $72.28 billion, a PE ratio of 43.10, a P/E/G ratio of 1.62 and a beta of 0.47. The company has a fifty day moving average of $251.11 and a 200 day moving average of $233.65.

Arthur J. Gallagher & Co. (NYSE:AJG) last announced its quarterly earnings results on Thursday, October 29th. The financial services provider reported $3.00 earnings per share for the quarter, topping the consensus estimate of $2.99 by $0.01. The company had revenue of $3.92 billion for the quarter, compared to the consensus estimate of $3.98 billion. Arthur J. Gallagher & Co. had a return on equity of 13.90% and a net margin of 10.39%. The firm’s revenue for the quarter was up 19.6% compared to the same quarter last year. During the same period last year, the firm earned $2.32 EPS. Research analysts forecast that Arthur J. Gallagher & Co. will post 13.13 earnings per share for the current year.

Arthur J. Gallagher & Co. Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, December 18th. Stockholders of record on Monday, December 7th will be paid a $0.70 dividend. The ex-dividend date is Monday, December 7th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 1.0%. Arthur J. Gallagher & Co.’s dividend payout ratio is presently 42.81%.

Wall Street Analysts Forecast Growth

AJG has been the topic of a number of research reports. Citigroup lowered Arthur J. Gallagher & Co. from a “buy” rating to a “neutral” rating and increased their price objective for the company from $285.00 to $300.00 in a report on Monday, November 2nd. UBS Group raised their price objective on Arthur J. Gallagher & Co. from $299.00 to $320.00 and gave the stock a “buy” rating in a research note on Monday, November 2nd. Jefferies Financial Group lifted their target price on Arthur J. Gallagher & Co. from $295.00 to $319.00 and gave the stock a “buy” rating in a report on Tuesday, November 3rd. Oppenheimer started coverage on Arthur J. Gallagher & Co. in a research report on Wednesday, October 7th. They issued a “market perform” rating on the stock. Finally, Cantor Fitzgerald cut their price target on shares of Arthur J. Gallagher & Co. from $300.00 to $280.00 and set a “neutral” rating on the stock in a report on Wednesday, October 7th. Thirteen investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $292.05.

Insider Transactions at Arthur J. Gallagher & Co.

In related news, VP William F. Ziebell sold 23,510 shares of Arthur J. Gallagher & Co. stock in a transaction that occurred on Wednesday, November 4th. The stock was sold at an average price of $286.62, for a total transaction of $6,738,436.20. Following the completion of the transaction, the vice president directly owned 48,942 shares in the company, valued at approximately $14,027,756.04. This trade represents a 32.45% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Susan E. Pietrucha sold 15,020 shares of the business’s stock in a transaction that occurred on Monday, November 9th. The shares were sold at an average price of $282.30, for a total value of $4,240,146.00. Following the completion of the transaction, the insider directly owned 16,791 shares of the company’s stock, valued at $4,740,099.30. The trade was a 47.22% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 105,616 shares of company stock valued at $29,193,156. 1.40% of the stock is owned by insiders.

Arthur J. Gallagher & Co. Profile

Arthur J. Gallagher & Co. is a global insurance brokerage and risk management services firm. It helps businesses and other organizations assess and manage risk, arrange insurance coverage, and address employee benefits needs. The company’s services include insurance brokerage, risk management consulting, employee benefits consulting, and claims and settlement services through its Gallagher Bassett business. It serves clients in the United States and internationally, including through a network of correspondent brokers.