First Allied Advisory Services Inc. lifted its holdings in shares of Arthur J. Gallagher & Co. (NYSE:AJG) by 9.0% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 7,088 shares of the financial services provider’s stock after purchasing an additional 584 shares during the quarter. First Allied Advisory Services Inc.’s holdings in Arthur J. Gallagher & Co. were worth $404,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in AJG. Pacer Advisors Inc. grew its holdings in shares of Arthur J. Gallagher & Co. by 3.2% during the 1st quarter. Pacer Advisors Inc. now owns 3,176 shares of the financial services provider’s stock worth $180,000 after purchasing an additional 99 shares during the period. Koch Industries Inc. purchased a new position in shares of Arthur J. Gallagher & Co. during the 1st quarter worth $210,000. Cambridge Investment Research Advisors Inc. purchased a new position in shares of Arthur J. Gallagher & Co. during the 1st quarter worth $215,000. Gilbert & Cook Inc. purchased a new position in shares of Arthur J. Gallagher & Co. during the 2nd quarter worth $224,000. Finally, Blair William & Co. IL purchased a new position in shares of Arthur J. Gallagher & Co. during the 2nd quarter worth $224,000. Institutional investors and hedge funds own 81.29% of the company’s stock.

A number of equities analysts have recently weighed in on AJG shares. Wells Fargo & Company reiterated a “buy” rating on shares of Arthur J. Gallagher & Co. in a report on Thursday, July 27th. BidaskClub upgraded Arthur J. Gallagher & Co. from a “hold” rating to a “buy” rating in a report on Thursday, July 27th. Keefe, Bruyette & Woods reiterated a “buy” rating and set a $62.00 price target on shares of Arthur J. Gallagher & Co. in a report on Friday, June 9th. Royal Bank Of Canada reiterated a “hold” rating and set a $54.00 price target on shares of Arthur J. Gallagher & Co. in a report on Wednesday, July 12th. Finally, Zacks Investment Research upgraded Arthur J. Gallagher & Co. from a “sell” rating to a “hold” rating in a report on Wednesday, August 2nd. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and five have issued a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $62.71.

Arthur J. Gallagher & Co. (AJG) opened at 61.76 on Friday. The stock has a market capitalization of $11.13 billion, a PE ratio of 24.90 and a beta of 1.21. Arthur J. Gallagher & Co. has a one year low of $47.16 and a one year high of $62.12. The company’s 50-day moving average price is $59.79 and its 200-day moving average price is $57.75.

Arthur J. Gallagher & Co. (NYSE:AJG) last issued its earnings results on Thursday, July 27th. The financial services provider reported $1.03 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.02 by $0.01. Arthur J. Gallagher & Co. had a return on equity of 13.68% and a net margin of 7.62%. The company had revenue of $1.56 billion during the quarter, compared to the consensus estimate of $1.54 billion. During the same quarter in the prior year, the business earned $0.96 earnings per share. The company’s revenue was up 9.6% compared to the same quarter last year. Equities research analysts predict that Arthur J. Gallagher & Co. will post $3.02 EPS for the current year.

The business also recently announced a quarterly dividend, which was paid on Friday, September 15th. Stockholders of record on Friday, September 1st were given a $0.39 dividend. This represents a $1.56 annualized dividend and a dividend yield of 2.53%. The ex-dividend date was Wednesday, August 30th. Arthur J. Gallagher & Co.’s payout ratio is 62.90%.

In other news, insider Susan E. Pietrucha sold 6,932 shares of the company’s stock in a transaction dated Tuesday, August 1st. The stock was sold at an average price of $59.28, for a total value of $410,928.96. Following the completion of the sale, the insider now owns 3,253 shares of the company’s stock, valued at $192,837.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Susan E. Pietrucha sold 3,601 shares of the company’s stock in a transaction dated Thursday, August 31st. The stock was sold at an average price of $57.78, for a total value of $208,065.78. Following the completion of the sale, the insider now directly owns 4,055 shares of the company’s stock, valued at approximately $234,297.90. The disclosure for this sale can be found here. Insiders sold 30,500 shares of company stock valued at $1,804,115 in the last ninety days. Company insiders own 1.60% of the company’s stock.

ILLEGAL ACTIVITY NOTICE: “Arthur J. Gallagher & Co. (AJG) Shares Bought by First Allied Advisory Services Inc.” was originally published by Watch List News and is the sole property of of Watch List News. If you are viewing this report on another site, it was copied illegally and republished in violation of U.S. & international copyright & trademark laws. The legal version of this report can be accessed at https://www.watchlistnews.com/arthur-j-gallagher-co-ajg-shares-bought-by-first-allied-advisory-services-inc/1615295.html.

About Arthur J. Gallagher & Co.

Arthur J. Gallagher & Co and its subsidiaries are engaged in providing insurance brokerage and consulting services, and third-party claims settlement and administration services to both domestic and international entities. The Company operates through three segments: brokerage, risk management and corporate.

Want to see what other hedge funds are holding AJG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Arthur J. Gallagher & Co. (NYSE:AJG).

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

Receive News & Ratings for Arthur J. Gallagher & Co. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Arthur J. Gallagher & Co. and related companies with Analyst Ratings Network's FREE daily email newsletter.