United Fire Group Inc. continued to hold its position in shares of Arthur J. Gallagher & Co. (NYSE:AJG) during the second quarter, Holdings Channel reports. The institutional investor owned 10,321 shares of the financial services provider’s stock at the end of the second quarter. United Fire Group Inc.’s holdings in Arthur J. Gallagher & Co. were worth $591,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in AJG. Teachers Advisors LLC raised its position in shares of Arthur J. Gallagher & Co. by 7.6% in the fourth quarter. Teachers Advisors LLC now owns 205,736 shares of the financial services provider’s stock worth $10,690,000 after buying an additional 14,548 shares in the last quarter. Macquarie Group Ltd. raised its position in shares of Arthur J. Gallagher & Co. by 25.3% in the fourth quarter. Macquarie Group Ltd. now owns 277,641 shares of the financial services provider’s stock worth $14,427,000 after buying an additional 56,063 shares in the last quarter. Chevy Chase Trust Holdings Inc. raised its position in shares of Arthur J. Gallagher & Co. by 3.5% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 154,560 shares of the financial services provider’s stock worth $8,739,000 after buying an additional 5,285 shares in the last quarter. Gulf International Bank UK Ltd raised its position in shares of Arthur J. Gallagher & Co. by 1.7% in the first quarter. Gulf International Bank UK Ltd now owns 55,090 shares of the financial services provider’s stock worth $3,114,000 after buying an additional 900 shares in the last quarter. Finally, National Pension Service raised its position in shares of Arthur J. Gallagher & Co. by 57,724.4% in the first quarter. National Pension Service now owns 182,147 shares of the financial services provider’s stock worth $10,340,000 after buying an additional 181,832 shares in the last quarter. 82.16% of the stock is currently owned by institutional investors.

Shares of Arthur J. Gallagher & Co. (NYSE AJG) opened at 58.61 on Friday. The company’s 50-day moving average price is $57.96 and its 200 day moving average price is $56.59. Arthur J. Gallagher & Co. has a 12-month low of $47.16 and a 12-month high of $59.64. The firm has a market capitalization of $10.56 billion, a price-to-earnings ratio of 23.63 and a beta of 1.19.

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

The business also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Friday, September 1st will be given a $0.39 dividend. This represents a $1.56 annualized dividend and a yield of 2.66%. The ex-dividend date is Wednesday, August 30th. Arthur J. Gallagher & Co.’s dividend payout ratio (DPR) is presently 62.90%.

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AJG has been the topic of a number of research reports. Wells Fargo & Company reissued a “buy” rating on shares of Arthur J. Gallagher & Co. in a report on Thursday, April 27th. Royal Bank Of Canada reissued a “hold” rating on shares of Arthur J. Gallagher & Co. in a report on Friday, April 28th. Citigroup Inc. lowered Arthur J. Gallagher & Co. from an “outperform” rating to a “market perform” rating in a report on Tuesday, May 2nd. They noted that the move was a valuation call. Raymond James Financial, Inc. reissued a “market perform” rating on shares of Arthur J. Gallagher & Co. in a report on Tuesday, May 2nd. Finally, Keefe, Bruyette & Woods reissued a “buy” rating and issued a $62.00 price objective on shares of Arthur J. Gallagher & Co. in a report on Friday, June 9th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and six have given a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $59.33.

In related news, insider Susan E. Pietrucha sold 4,133 shares of the business’s stock in a transaction dated Monday, May 22nd. The stock was sold at an average price of $56.06, for a total value of $231,695.98. Following the transaction, the insider now owns 112 shares in the company, valued at approximately $6,278.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP William F. Ziebell sold 7,764 shares of the business’s stock in a transaction dated 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 transaction, the vice president now owns 8,495 shares in the company, valued at approximately $480,732.05. The disclosure for this sale can be found here. Insiders sold a total of 49,829 shares of company stock worth $2,904,780 in the last 90 days. 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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