Comerica Bank lowered its stake in Arthur J. Gallagher & Co. (NYSE:AJG) by 2.0% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 616,309 shares of the financial services provider’s stock after selling 12,730 shares during the period. Comerica Bank’s holdings in Arthur J. Gallagher & Co. were worth $36,258,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the company. Pacer Advisors Inc. increased its position in shares of Arthur J. Gallagher & Co. by 3.2% in the first quarter. Pacer Advisors Inc. now owns 3,176 shares of the financial services provider’s stock valued at $180,000 after buying an additional 99 shares in the last quarter. Coconut Grove Bank increased its position in shares of Arthur J. Gallagher & Co. by 92.5% in the first quarter. Coconut Grove Bank now owns 3,330 shares of the financial services provider’s stock valued at $188,000 after buying an additional 1,600 shares in the last quarter. Court Place Advisors LLC acquired a new position in shares of Arthur J. Gallagher & Co. during the first quarter valued at about $201,000. Koch Industries Inc. acquired a new position in shares of Arthur J. Gallagher & Co. during the first quarter valued at about $210,000. Finally, Cambridge Investment Research Advisors Inc. acquired a new position in shares of Arthur J. Gallagher & Co. during the first quarter valued at about $215,000. Institutional investors and hedge funds own 83.38% of the company’s stock.

Shares of Arthur J. Gallagher & Co. (AJG) opened at 58.72 on Wednesday. The firm has a market capitalization of $10.58 billion, a P/E ratio of 23.68 and a beta of 1.19. The firm has a 50-day moving average price of $58.11 and a 200-day moving average price of $56.75. Arthur J. Gallagher & Co. has a 52-week low of $47.16 and a 52-week high of $59.64.

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

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

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Several equities analysts have recently issued reports on AJG shares. Wells Fargo & Company reiterated a “buy” rating on shares of Arthur J. Gallagher & Co. in a research report on Wednesday, June 14th. BidaskClub upgraded Arthur J. Gallagher & Co. from a “hold” rating to a “buy” rating in a research report on Saturday, June 10th. Keefe, Bruyette & Woods reiterated a “buy” rating and set a $62.00 price objective on shares of Arthur J. Gallagher & Co. in a research report on Friday, June 9th. Royal Bank Of Canada reiterated a “hold” rating and set a $54.00 price objective on shares of Arthur J. Gallagher & Co. in a research report on Wednesday, July 12th. Finally, Zacks Investment Research upgraded Arthur J. Gallagher & Co. from a “sell” rating to a “hold” rating in a research report on Wednesday, August 2nd. One equities 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. Arthur J. Gallagher & Co. has a consensus rating of “Hold” and a consensus target price of $59.33.

In other news, insider Susan E. Pietrucha sold 4,133 shares of the stock in a transaction that occurred on Monday, May 22nd. The shares were sold at an average price of $56.06, for a total transaction of $231,695.98. Following the sale, the insider now directly owns 112 shares of the company’s stock, valued at $6,278.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP William F. Ziebell sold 7,764 shares of the stock in a transaction that occurred on Wednesday, May 24th. The shares were sold at an average price of $56.59, for a total transaction of $439,364.76. Following the sale, the vice president now directly owns 8,495 shares in the company, valued at $480,732.05. The disclosure for this sale can be found here. Insiders have sold 49,829 shares of company stock worth $2,904,780 over the last three months. 1.60% of the stock is owned by insiders.

Arthur J. Gallagher & Co. Company Profile

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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