Aviva PLC reduced its position in Arthur J Gallagher & Co (NYSE:AJG) by 3.2% during the 3rd quarter, HoldingsChannel reports. The firm owned 87,417 shares of the financial services provider’s stock after selling 2,887 shares during the quarter. Aviva PLC’s holdings in Arthur J Gallagher & Co were worth $6,507,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in AJG. Charles Schwab Investment Advisory Inc. acquired a new position in shares of Arthur J Gallagher & Co in the 2nd quarter valued at about $240,671,000. BlackRock Inc. lifted its stake in shares of Arthur J Gallagher & Co by 8.5% in the 3rd quarter. BlackRock Inc. now owns 15,960,908 shares of the financial services provider’s stock valued at $1,188,127,000 after purchasing an additional 1,255,179 shares in the last quarter. Millennium Management LLC lifted its stake in shares of Arthur J Gallagher & Co by 136.2% in the 2nd quarter. Millennium Management LLC now owns 2,030,149 shares of the financial services provider’s stock valued at $132,528,000 after purchasing an additional 1,170,683 shares in the last quarter. Baird Financial Group Inc. lifted its stake in shares of Arthur J Gallagher & Co by 6,475.5% in the 2nd quarter. Baird Financial Group Inc. now owns 512,695 shares of the financial services provider’s stock valued at $33,469,000 after purchasing an additional 504,898 shares in the last quarter. Finally, OppenheimerFunds Inc. lifted its stake in shares of Arthur J Gallagher & Co by 231.6% in the 2nd quarter. OppenheimerFunds Inc. now owns 650,274 shares of the financial services provider’s stock valued at $42,450,000 after purchasing an additional 454,149 shares in the last quarter. 81.17% of the stock is currently owned by institutional investors and hedge funds.

Shares of NYSE:AJG opened at $75.06 on Friday. The stock has a market cap of $13.98 billion, a P/E ratio of 24.53, a P/E/G ratio of 2.03 and a beta of 1.02. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.68. Arthur J Gallagher & Co has a one year low of $62.04 and a one year high of $79.03.

Arthur J Gallagher & Co (NYSE:AJG) last announced its earnings results on Thursday, October 25th. The financial services provider reported $0.78 EPS for the quarter, beating the consensus estimate of $0.77 by $0.01. The business had revenue of $1.78 billion for the quarter, compared to the consensus estimate of $1.69 billion. Arthur J Gallagher & Co had a return on equity of 15.50% and a net margin of 9.04%. On average, equities analysts forecast that Arthur J Gallagher & Co will post 3.44 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, December 21st. Investors of record on Friday, December 7th will be issued a dividend of $0.41 per share. The ex-dividend date is Thursday, December 6th. This represents a $1.64 annualized dividend and a dividend yield of 2.18%. Arthur J Gallagher & Co’s payout ratio is currently 53.59%.

In other Arthur J Gallagher & Co news, General Counsel Walter D. Bay sold 3,985 shares of Arthur J Gallagher & Co stock in a transaction that occurred on Friday, September 14th. The stock was sold at an average price of $75.09, for a total transaction of $299,233.65. Following the sale, the general counsel now directly owns 16,269 shares in the company, valued at approximately $1,221,639.21. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP William F. Ziebell sold 12,500 shares of Arthur J Gallagher & Co stock in a transaction that occurred on Thursday, September 13th. The stock was sold at an average price of $74.78, for a total value of $934,750.00. Following the sale, the vice president now owns 16,792 shares in the company, valued at $1,255,705.76. The disclosure for this sale can be found here. Company insiders own 1.60% of the company’s stock.

Several equities analysts have recently weighed in on AJG shares. William Blair reaffirmed a “buy” rating on shares of Arthur J Gallagher & Co in a research note on Thursday, August 16th. Credit Suisse Group set a $84.00 price objective on Arthur J Gallagher & Co and gave the company a “buy” rating in a research note on Tuesday, September 25th. ValuEngine raised Arthur J Gallagher & Co from a “hold” rating to a “buy” rating in a research note on Tuesday, October 2nd. Citigroup set a $78.00 price objective on Arthur J Gallagher & Co and gave the company a “hold” rating in a research note on Friday, October 12th. Finally, Wells Fargo & Co reaffirmed a “buy” rating and issued a $85.00 price objective on shares of Arthur J Gallagher & Co in a research note on Thursday, October 25th. Five investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $78.55.

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Arthur J Gallagher & Co Company 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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