Pitcairn Co. lowered its position in shares of Arthur J. Gallagher & Co. (NYSE:AJG) by 12.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 7,645 shares of the financial services provider’s stock after selling 1,042 shares during the period. Pitcairn Co.’s holdings in Arthur J. Gallagher & Co. were worth $437,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. raised its position in Arthur J. Gallagher & Co. by 3.4% in the first quarter. Vanguard Group Inc. now owns 17,578,425 shares of the financial services provider’s stock worth $993,885,000 after buying an additional 575,651 shares in the last quarter. BlackRock Inc. raised its position in Arthur J. Gallagher & Co. by 3,503.7% in the first quarter. BlackRock Inc. now owns 13,986,032 shares of the financial services provider’s stock worth $790,770,000 after buying an additional 13,597,930 shares in the last quarter. State Street Corp raised its position in Arthur J. Gallagher & Co. by 2.5% in the first quarter. State Street Corp now owns 8,961,966 shares of the financial services provider’s stock worth $506,716,000 after buying an additional 220,949 shares in the last quarter. Thomaspartners Inc. raised its position in Arthur J. Gallagher & Co. by 6.7% in the first quarter. Thomaspartners Inc. now owns 3,291,187 shares of the financial services provider’s stock worth $186,084,000 after buying an additional 207,041 shares in the last quarter. Finally, Victory Capital Management Inc. raised its position in Arthur J. Gallagher & Co. by 182.4% in the first quarter. Victory Capital Management Inc. now owns 3,273,190 shares of the financial services provider’s stock worth $185,065,000 after buying an additional 2,114,276 shares in the last quarter. Institutional investors and hedge funds own 83.38% of the company’s stock.

Arthur J. Gallagher & Co. (NYSE:AJG) opened at 58.86 on Tuesday. The firm has a 50-day moving average of $58.06 and a 200 day moving average of $56.72. Arthur J. Gallagher & Co. has a 52-week low of $47.16 and a 52-week high of $59.64. The firm has a market cap of $10.60 billion, a price-to-earnings ratio of 23.73 and a beta of 1.19.

Arthur J. Gallagher & Co. (NYSE:AJG) last posted its quarterly earnings results on Thursday, July 27th. The financial services provider reported $1.03 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.02 by $0.01. The business had revenue of $1.56 billion during the quarter, compared to the consensus estimate of $1.54 billion. Arthur J. Gallagher & Co. had a net margin of 7.62% and a return on equity of 13.68%. Arthur J. Gallagher & Co.’s revenue for the quarter was up 9.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.96 earnings per share. On average, equities research analysts forecast that Arthur J. Gallagher & Co. will post $3.00 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Friday, September 1st will be paid a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a dividend yield of 2.65%. The ex-dividend date is Wednesday, August 30th. Arthur J. Gallagher & Co.’s dividend payout ratio (DPR) is 62.90%.

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AJG has been the topic of a number of research analyst reports. BidaskClub upgraded shares of Arthur J. Gallagher & Co. from a “hold” rating to a “buy” rating in a research note on Saturday, June 10th. Citigroup Inc. lifted their price target on shares of Arthur J. Gallagher & Co. from $59.00 to $60.00 and gave the stock a “neutral” rating in a research report on Thursday, July 13th. Barclays PLC lifted their price target on shares of Arthur J. Gallagher & Co. from $66.00 to $68.00 and gave the stock an “overweight” rating in a research report on Friday. Keefe, Bruyette & Woods restated a “buy” rating and issued a $62.00 price target on shares of Arthur J. Gallagher & Co. in a research report on Friday, June 9th. Finally, Royal Bank Of Canada restated a “hold” rating and issued a $54.00 price target on shares of Arthur J. Gallagher & Co. in a research report on Wednesday, July 12th. One analyst has rated the stock with a sell rating, four have given a hold rating and six have issued a buy rating to the company’s stock. Arthur J. Gallagher & Co. currently has an average rating of “Hold” and a consensus target price of $59.33.

In other Arthur J. Gallagher & Co. news, VP William F. Ziebell sold 7,764 shares of the company’s stock in a transaction that occurred on Wednesday, May 24th. The shares were sold at an average price of $56.59, for a total value of $439,364.76. Following the completion of the sale, the vice president now owns 8,495 shares of the company’s stock, valued at $480,732.05. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Douglas K. Howell sold 20,000 shares of the company’s stock in a transaction that occurred on Monday, June 19th. The shares were sold at an average price of $58.85, for a total transaction of $1,177,000.00. Following the completion of the sale, the chief financial officer now directly owns 47,800 shares of the company’s stock, valued at approximately $2,813,030. The disclosure for this sale can be found here. Over the last three months, insiders have sold 49,829 shares of company stock valued at $2,904,780. 1.60% of the stock is currently owned by insiders.

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.

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

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