Amundi Pioneer Asset Management Inc. acquired a new position in Arthur J Gallagher & Co (NYSE:AJG) in the 4th quarter, HoldingsChannel reports. The firm acquired 75,572 shares of the financial services provider’s stock, valued at approximately $4,783,000.

Several other institutional investors also recently modified their holdings of AJG. Nationwide Fund Advisors grew its holdings in shares of Arthur J Gallagher & Co by 4.1% in the third quarter. Nationwide Fund Advisors now owns 332,066 shares of the financial services provider’s stock valued at $20,439,000 after acquiring an additional 13,068 shares in the last quarter. New York State Common Retirement Fund boosted its holdings in shares of Arthur J Gallagher & Co by 1.7% in the third quarter. New York State Common Retirement Fund now owns 394,400 shares of the financial services provider’s stock worth $24,275,000 after acquiring an additional 6,500 shares during the period. Ameriprise Financial Inc. boosted its holdings in shares of Arthur J Gallagher & Co by 36.6% in the third quarter. Ameriprise Financial Inc. now owns 506,376 shares of the financial services provider’s stock worth $31,167,000 after acquiring an additional 135,608 shares during the period. Macquarie Group Ltd. raised its position in shares of Arthur J Gallagher & Co by 15.5% in the third quarter. Macquarie Group Ltd. now owns 408,536 shares of the financial services provider’s stock worth $25,146,000 after buying an additional 54,963 shares in the last quarter. Finally, Meiji Yasuda Asset Management Co Ltd. purchased a new stake in shares of Arthur J Gallagher & Co in the third quarter worth $486,000. 83.90% of the stock is owned by hedge funds and other institutional investors.

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In other Arthur J Gallagher & Co news, General Counsel Walter D. Bay sold 1,500 shares of the business’s stock in a transaction on Monday, January 29th. The shares were sold at an average price of $70.15, for a total transaction of $105,225.00. Following the completion of the sale, the general counsel now directly owns 13,284 shares in the company, valued at approximately $931,872.60. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, VP Thomas Joseph Gallagher sold 11,500 shares of the business’s stock in a transaction on Monday, January 29th. The shares were sold at an average price of $69.80, for a total transaction of $802,700.00. Following the sale, the vice president now owns 176,305 shares of the company’s stock, valued at $12,306,089. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 21,766 shares of company stock valued at $1,501,938. Company insiders own 1.60% of the company’s stock.

Shares of Arthur J Gallagher & Co stock opened at $70.27 on Thursday. Arthur J Gallagher & Co has a 12-month low of $54.50 and a 12-month high of $72.77. The firm has a market capitalization of $12,794.16, a P/E ratio of 27.67, a price-to-earnings-growth ratio of 1.78 and a beta of 1.17. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.65.

Arthur J Gallagher & Co (NYSE:AJG) last announced its quarterly earnings data on Thursday, January 25th. The financial services provider reported $0.82 earnings per share for the quarter, topping analysts’ consensus estimates of $0.75 by $0.07. Arthur J Gallagher & Co had a net margin of 7.52% and a return on equity of 13.95%. The company had revenue of $1.60 billion during the quarter, compared to analyst estimates of $1.48 billion. During the same period in the previous year, the business earned $0.66 EPS. The firm’s revenue for the quarter was up 15.5% on a year-over-year basis. equities research analysts anticipate that Arthur J Gallagher & Co will post 3.58 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 16th. Investors of record on Friday, March 2nd were issued a $0.41 dividend. This is a positive change from Arthur J Gallagher & Co’s previous quarterly dividend of $0.39. This represents a $1.64 dividend on an annualized basis and a yield of 2.33%. The ex-dividend date was Thursday, March 1st. Arthur J Gallagher & Co’s payout ratio is presently 64.57%.

A number of research firms have weighed in on AJG. Wells Fargo set a $78.00 price target on Arthur J Gallagher & Co and gave the company a “buy” rating in a research report on Wednesday, March 14th. Sandler O’Neill reaffirmed a “hold” rating and set a $71.00 price objective on shares of Arthur J Gallagher & Co in a research note on Thursday, March 15th. William Blair raised Arthur J Gallagher & Co from a “market perform” rating to an “outperform” rating in a research note on Thursday, March 8th. Zacks Investment Research raised Arthur J Gallagher & Co from a “hold” rating to a “strong-buy” rating and set a $81.00 target price on the stock in a research note on Monday, January 29th. Finally, Barclays reissued an “overweight” rating and issued a $82.00 target price (up from $70.00) on shares of Arthur J Gallagher & Co in a research note on Tuesday, February 20th. Five equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $73.00.

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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.

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

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