Tower Research Capital LLC TRC acquired a new stake in Arthur J Gallagher & Co (NYSE:AJG) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 7,306 shares of the financial services provider’s stock, valued at approximately $477,000.

Several other hedge funds have also added to or reduced their stakes in AJG. Charles Schwab Investment Advisory Inc. purchased a new stake in shares of Arthur J Gallagher & Co in the 2nd quarter valued at $240,671,000. Baird Financial Group Inc. boosted its holdings in shares of Arthur J Gallagher & Co by 6,475.5% in the 2nd quarter. Baird Financial Group Inc. now owns 512,695 shares of the financial services provider’s stock valued at $33,469,000 after acquiring an additional 504,898 shares during the last quarter. OppenheimerFunds Inc. boosted its holdings in shares of Arthur J Gallagher & Co by 231.6% in the 2nd quarter. OppenheimerFunds Inc. now owns 650,274 shares of the financial services provider’s stock valued at $42,450,000 after acquiring an additional 454,149 shares during the last quarter. Millennium Management LLC boosted its holdings in shares of Arthur J Gallagher & Co by 69.2% in the 1st quarter. Millennium Management LLC now owns 859,466 shares of the financial services provider’s stock valued at $59,071,000 after acquiring an additional 351,376 shares during the last quarter. Finally, US Bancorp DE boosted its holdings in shares of Arthur J Gallagher & Co by 404.6% in the 2nd quarter. US Bancorp DE now owns 417,551 shares of the financial services provider’s stock valued at $27,259,000 after acquiring an additional 334,800 shares during the last quarter. 81.86% of the stock is currently owned by institutional investors and hedge funds.

Shares of NYSE AJG opened at $75.15 on Tuesday. Arthur J Gallagher & Co has a 1 year low of $60.48 and a 1 year high of $76.49. The firm has a market cap of $13.86 billion, a P/E ratio of 24.56, a PEG ratio of 2.13 and a beta of 1.15. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.70.

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

The company also recently declared a quarterly dividend, which was paid on Friday, September 21st. Investors of record on Friday, September 7th were issued a dividend of $0.41 per share. This represents a $1.64 dividend on an annualized basis and a yield of 2.18%. The ex-dividend date of this dividend was Thursday, September 6th. Arthur J Gallagher & Co’s dividend payout ratio (DPR) is presently 53.59%.

A number of analysts recently issued reports on the stock. Wells Fargo & Co reissued a “buy” rating and set a $78.00 price target on shares of Arthur J Gallagher & Co in a report on Thursday, June 14th. Royal Bank of Canada reissued a “hold” rating and set a $73.00 price target on shares of Arthur J Gallagher & Co in a report on Friday, July 27th. Goldman Sachs Group assumed coverage on shares of Arthur J Gallagher & Co in a report on Monday, June 18th. They set a “buy” rating and a $81.00 price target on the stock. Zacks Investment Research raised shares of Arthur J Gallagher & Co from a “sell” rating to a “hold” rating in a report on Tuesday, June 5th. Finally, Credit Suisse Group assumed coverage on shares of Arthur J Gallagher & Co in a report on Tuesday, August 7th. They set an “outperform” rating and a $84.00 price target on the stock. Six investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $75.64.

In other Arthur J Gallagher & Co news, Director Kay W. Mccurdy sold 3,500 shares of the stock in a transaction on Wednesday, August 1st. The shares were sold at an average price of $71.10, for a total transaction of $248,850.00. Following the transaction, the director now directly owns 32,632 shares of the company’s stock, valued at $2,320,135.20. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, VP William F. Ziebell sold 12,500 shares of the stock in a transaction on Thursday, September 13th. The shares were sold at an average price of $74.78, for a total transaction of $934,750.00. Following the transaction, the vice president now directly owns 16,792 shares in the company, valued at $1,255,705.76. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 43,752 shares of company stock worth $3,193,109. Insiders own 1.60% of the company’s stock.

About Arthur J Gallagher & Co

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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