Avantax Advisory Services Inc. raised its position in Arthur J. Gallagher & Co. (NYSE:AJG) by 11.4% during the third quarter, according to its most recent 13F filing with the SEC. The fund owned 15,767 shares of the financial services provider’s stock after buying an additional 1,617 shares during the period. Avantax Advisory Services Inc.’s holdings in Arthur J. Gallagher & Co. were worth $1,665,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Pacer Advisors Inc. acquired a new stake in Arthur J. Gallagher & Co. during the 2nd quarter worth $1,536,000. Fort Pitt Capital Group LLC raised its stake in Arthur J. Gallagher & Co. by 1.0% during the 2nd quarter. Fort Pitt Capital Group LLC now owns 619,440 shares of the financial services provider’s stock worth $60,389,000 after buying an additional 5,989 shares during the period. State of Michigan Retirement System raised its stake in Arthur J. Gallagher & Co. by 13.3% during the 2nd quarter. State of Michigan Retirement System now owns 48,454 shares of the financial services provider’s stock worth $4,724,000 after buying an additional 5,702 shares during the period. Sei Investments Co. raised its stake in Arthur J. Gallagher & Co. by 22.0% during the 2nd quarter. Sei Investments Co. now owns 125,437 shares of the financial services provider’s stock worth $12,229,000 after buying an additional 22,583 shares during the period. Finally, Cambridge Investment Research Advisors Inc. raised its stake in Arthur J. Gallagher & Co. by 12.0% during the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 13,238 shares of the financial services provider’s stock worth $1,291,000 after buying an additional 1,415 shares during the period. Hedge funds and other institutional investors own 81.51% of the company’s stock.

In related news, Director Kay W. Mccurdy sold 1,830 shares of Arthur J. Gallagher & Co. stock in a transaction dated Monday, August 24th. The stock was sold at an average price of $103.00, for a total transaction of $188,490.00. Following the completion of the transaction, the director now owns 30,252 shares in the company, valued at $3,115,956. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Susan E. Pietrucha sold 8,700 shares of Arthur J. Gallagher & Co. stock in a transaction dated Tuesday, August 11th. The stock was sold at an average price of $108.50, for a total value of $943,950.00. Following the transaction, the insider now owns 5,087 shares of the company’s stock, valued at approximately $551,939.50. The disclosure for this sale can be found here. Insiders have sold 14,030 shares of company stock valued at $1,506,910 in the last quarter. 1.40% of the stock is currently owned by corporate insiders.

NYSE:AJG opened at $108.77 on Friday. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.09 and a current ratio of 1.09. The stock’s 50-day simple moving average is $104.86 and its 200 day simple moving average is $96.75. The company has a market cap of $20.83 billion, a P/E ratio of 29.01, a P/E/G ratio of 3.01 and a beta of 0.67. Arthur J. Gallagher & Co. has a 52-week low of $65.09 and a 52-week high of $110.56.

Arthur J. Gallagher & Co. (NYSE:AJG) last released its earnings results on Thursday, July 30th. The financial services provider reported $0.94 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.72 by $0.22. The business had revenue of $1.55 billion for the quarter, compared to the consensus estimate of $1.64 billion. Arthur J. Gallagher & Co. had a return on equity of 16.01% and a net margin of 10.35%. As a group, equities analysts predict that Arthur J. Gallagher & Co. will post 4.35 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Friday, September 18th. Investors of record on Friday, September 4th were issued a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 1.65%. The ex-dividend date was Thursday, September 3rd. Arthur J. Gallagher & Co.’s payout ratio is currently 49.32%.

AJG has been the topic of several research analyst reports. Deutsche Bank Aktiengesellschaft raised their price objective on Arthur J. Gallagher & Co. from $120.00 to $125.00 and gave the stock a “buy” rating in a research note on Thursday, September 17th. They noted that the move was a valuation call. BofA Securities downgraded Arthur J. Gallagher & Co. from a “buy” rating to an “underperform” rating and set a $101.00 price target on the stock. in a research note on Friday, August 21st. Morgan Stanley lifted their price target on Arthur J. Gallagher & Co. from $106.00 to $112.00 and gave the company an “equal weight” rating in a research note on Monday, August 3rd. Raymond James reissued a “buy” rating on shares of Arthur J. Gallagher & Co. in a research note on Wednesday, October 7th. Finally, Keefe, Bruyette & Woods lifted their price target on Arthur J. Gallagher & Co. from $106.00 to $112.00 and gave the company an “outperform” rating in a research note on Friday, July 31st. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and eight have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $110.58.

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 in the United States, Australia, Bermuda, Canada, the Caribbean, New Zealand, and the United Kingdom. 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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