D.A. Davidson & CO. acquired a new position in shares of Arthur J Gallagher & Co (NYSE:AJG) during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 3,310 shares of the financial services provider’s stock, valued at approximately $216,000.

A number of other institutional investors have also recently made changes to their positions in AJG. Millennium Management LLC grew its stake in Arthur J Gallagher & Co by 69.2% during the first quarter. Millennium Management LLC now owns 859,466 shares of the financial services provider’s stock worth $59,071,000 after buying an additional 351,376 shares in the last quarter. Origin Asset Management LLP acquired a new stake in Arthur J Gallagher & Co during the first quarter worth about $18,636,000. BlackRock Inc. grew its stake in Arthur J Gallagher & Co by 1.8% during the first quarter. BlackRock Inc. now owns 14,678,824 shares of the financial services provider’s stock worth $1,008,875,000 after buying an additional 265,202 shares in the last quarter. Mackay Shields LLC acquired a new stake in Arthur J Gallagher & Co during the first quarter worth about $15,498,000. Finally, State of Wisconsin Investment Board grew its stake in Arthur J Gallagher & Co by 117.0% during the first quarter. State of Wisconsin Investment Board now owns 361,856 shares of the financial services provider’s stock worth $24,870,000 after buying an additional 195,076 shares in the last quarter. Hedge funds and other institutional investors own 80.92% of the company’s stock.

In other news, Director Kay W. Mccurdy sold 3,500 shares of the firm’s stock in a transaction that occurred on Wednesday, August 1st. The shares were sold at an average price of $71.10, for a total value of $248,850.00. Following the sale, the director now directly owns 32,632 shares in the company, valued at approximately $2,320,135.20. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO J Patrick Gallagher, Jr. purchased 9,090 shares of Arthur J Gallagher & Co stock in a transaction dated Tuesday, June 19th. The stock was bought at an average price of $66.11 per share, for a total transaction of $600,939.90. Following the completion of the purchase, the chief executive officer now owns 51,698 shares in the company, valued at approximately $3,417,754.78. The disclosure for this purchase can be found here. Company insiders own 1.60% of the company’s stock.

AJG opened at $72.21 on Friday. Arthur J Gallagher & Co has a 1-year low of $57.19 and a 1-year high of $73.11. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.11 and a current ratio of 1.11. The company has a market capitalization of $12.94 billion, a PE ratio of 23.60, a P/E/G ratio of 1.98 and a beta of 1.18.

Arthur J Gallagher & Co (NYSE:AJG) last posted its quarterly earnings results on Thursday, July 26th. The financial services provider reported $0.62 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.62. Arthur J Gallagher & Co had a net margin of 9.34% and a return on equity of 15.93%. The company had revenue of $1.63 billion for the quarter, compared to the consensus estimate of $1.58 billion. During the same period last year, the company posted $0.48 EPS. The firm’s quarterly revenue was up 11.7% compared to the same quarter last year. analysts expect that Arthur J Gallagher & Co will post 3.46 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, September 21st. Stockholders of record on Friday, September 7th will be paid a $0.41 dividend. The ex-dividend date is Thursday, September 6th. This represents a $1.64 dividend on an annualized basis and a dividend yield of 2.27%. Arthur J Gallagher & Co’s payout ratio is currently 53.59%.

A number of equities research analysts have issued reports on the stock. William Blair reiterated a “buy” rating on shares of Arthur J Gallagher & Co in a research note on Thursday. Credit Suisse Group assumed coverage on shares of Arthur J Gallagher & Co in a research note on Tuesday, August 7th. They set an “outperform” rating and a $84.00 price objective on the stock. Royal Bank of Canada reiterated a “hold” rating and set a $73.00 price objective on shares of Arthur J Gallagher & Co in a research note on Friday, July 27th. Wells Fargo & Co reiterated a “buy” rating and set a $78.00 price objective on shares of Arthur J Gallagher & Co in a research note on Friday, July 27th. Finally, SunTrust Banks reiterated a “buy” rating on shares of Arthur J Gallagher & Co in a research note on Thursday, July 26th. Six equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $75.64.

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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