State Board of Administration of Florida Retirement System boosted its stake in shares of Arthur J. Gallagher & Co. (NYSE:AJG) by 0.1% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 214,841 shares of the financial services provider’s stock after buying an additional 272 shares during the period. State Board of Administration of Florida Retirement System owned about 0.12% of Arthur J. Gallagher & Co. worth $12,300,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently bought and sold shares of the stock. Somerset Trust Co raised its stake in shares of Arthur J. Gallagher & Co. by 0.3% in the second quarter. Somerset Trust Co now owns 8,698 shares of the financial services provider’s stock valued at $498,000 after buying an additional 22 shares during the last quarter. Private Advisory Group LLC raised its stake in shares of Arthur J. Gallagher & Co. by 0.7% in the first quarter. Private Advisory Group LLC now owns 4,747 shares of the financial services provider’s stock valued at $268,000 after buying an additional 32 shares during the last quarter. Contravisory Investment Management Inc. raised its stake in shares of Arthur J. Gallagher & Co. by 0.7% in the second quarter. Contravisory Investment Management Inc. now owns 4,775 shares of the financial services provider’s stock valued at $273,000 after buying an additional 32 shares during the last quarter. Cleararc Capital Inc. raised its stake in shares of Arthur J. Gallagher & Co. by 0.9% in the first quarter. Cleararc Capital Inc. now owns 4,349 shares of the financial services provider’s stock valued at $246,000 after buying an additional 40 shares during the last quarter. Finally, Advantus Capital Management Inc raised its stake in shares of Arthur J. Gallagher & Co. by 0.4% in the first quarter. Advantus Capital Management Inc now owns 17,875 shares of the financial services provider’s stock valued at $1,011,000 after buying an additional 70 shares during the last quarter. Hedge funds and other institutional investors own 81.54% of the company’s stock.

Arthur J. Gallagher & Co. (AJG) opened at 58.04 on Wednesday. The stock’s 50 day moving average is $58.33 and its 200 day moving average is $56.96. 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 cap of $10.46 billion, a PE ratio of 23.40 and a beta of 1.19.

Arthur J. Gallagher & Co. (NYSE:AJG) last announced its earnings results on Thursday, July 27th. The financial services provider reported $1.03 EPS for the quarter, beating the consensus estimate of $1.02 by $0.01. Arthur J. Gallagher & Co. had a return on equity of 13.68% and a net margin of 7.62%. The business had revenue of $1.56 billion during the quarter, compared to the consensus estimate of $1.54 billion. During the same period in the prior year, the business posted $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 analysts forecast that Arthur J. Gallagher & Co. will post $3.00 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Friday, September 1st will be issued a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a dividend yield of 2.69%. The ex-dividend date is Wednesday, August 30th. Arthur J. Gallagher & Co.’s dividend payout ratio is 62.90%.

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Several equities research analysts recently commented on the stock. Keefe, Bruyette & Woods reissued a “buy” rating and issued a $62.00 price target on shares of Arthur J. Gallagher & Co. in a report on Friday, August 18th. Zacks Investment Research raised shares of Arthur J. Gallagher & Co. from a “sell” rating to a “hold” rating in a report on Wednesday, August 2nd. Barclays PLC boosted 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 report on Friday, August 11th. Citigroup Inc. upped their target price on shares of Arthur J. Gallagher & Co. from $60.00 to $62.00 and gave the stock a “neutral” rating in a report on Monday, August 7th. Finally, Royal Bank Of Canada reaffirmed a “hold” rating and set a $54.00 target price on shares of Arthur J. Gallagher & Co. in a report on Wednesday, July 12th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and six have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $59.33.

In other news, Director Frank E. Jr. English sold 1,000 shares of the company’s stock in a transaction on Tuesday, June 13th. The stock was sold at an average price of $58.49, for a total transaction of $58,490.00. Following the completion of the sale, the director now directly owns 12,100 shares of the company’s stock, valued at $707,729. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Douglas K. Howell sold 20,000 shares of the company’s stock in a transaction on Monday, June 19th. The shares were sold at an average price of $58.85, for a total value of $1,177,000.00. Following the sale, the chief financial officer now directly owns 47,800 shares of the company’s stock, valued at $2,813,030. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 37,932 shares of company stock valued at $2,233,719. 1.60% of the stock is currently owned by company 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.

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

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