Arthur J Gallagher & Co (AJG) Position Reduced by Comerica Bank

Comerica Bank decreased its stake in Arthur J Gallagher & Co (NYSE:AJG) by 1.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 629,039 shares of the financial services provider’s stock after selling 6,374 shares during the period. Comerica Bank owned about 0.35% of Arthur J Gallagher & Co worth $35,685,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of the company. Nomura Asset Management Co. Ltd. raised its stake in Arthur J Gallagher & Co by 8.7% in the third quarter. Nomura Asset Management Co. Ltd. now owns 22,580 shares of the financial services provider’s stock valued at $1,149,000 after buying an additional 1,800 shares during the last quarter. Archford Capital Strategies LLC increased its position in shares of Arthur J Gallagher & Co by 26.2% in the fourth quarter. Archford Capital Strategies LLC now owns 19,332 shares of the financial services provider’s stock valued at $1,004,000 after buying an additional 4,017 shares in the last quarter. Sigma Investment Counselors Inc. increased its position in shares of Arthur J Gallagher & Co by 1.3% in the third quarter. Sigma Investment Counselors Inc. now owns 44,926 shares of the financial services provider’s stock valued at $2,285,000 after buying an additional 571 shares in the last quarter. Paradigm Asset Management Co. LLC increased its position in shares of Arthur J Gallagher & Co by 377.4% in the fourth quarter. Paradigm Asset Management Co. LLC now owns 67,866 shares of the financial services provider’s stock worth $3,526,000 after buying an additional 53,650 shares during the period. Finally, Welch Investments LLC bought a new position in shares of Arthur J Gallagher & Co during the fourth quarter worth $3,874,000. 83.11% of the stock is currently owned by institutional investors and hedge funds.

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

Arthur J Gallagher & Co (NYSE:AJG) traded up 0.69% during trading on Friday, reaching $55.76. 1,256,858 shares of the company’s stock traded hands. The company has a 50-day moving average price of $55.82 and a 200 day moving average price of $53.86. Arthur J Gallagher & Co has a one year low of $43.90 and a one year high of $57.82. The firm has a market capitalization of $10.01 billion, a PE ratio of 23.58 and a beta of 1.14.

Arthur J Gallagher & Co (NYSE:AJG) last released its earnings results on Thursday, April 27th. The financial services provider reported $0.40 EPS for the quarter, beating analysts’ consensus estimates of $0.39 by $0.01. Arthur J Gallagher & Co had a return on equity of 13.31% and a net margin of 7.41%. The company had revenue of $1.41 billion during the quarter, compared to the consensus estimate of $1.40 billion. During the same quarter last year, the company earned $0.34 earnings per share. Arthur J Gallagher & Co’s quarterly revenue was up 8.7% compared to the same quarter last year. On average, analysts anticipate that Arthur J Gallagher & Co will post $3.03 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 16th. Shareholders of record on Friday, June 2nd will be issued a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a yield of 2.80%. The ex-dividend date is Wednesday, May 31st. Arthur J Gallagher & Co’s dividend payout ratio (DPR) is currently 65.52%.

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A number of research analysts recently weighed in on AJG shares. BMO Capital Markets increased their price objective on shares of Arthur J Gallagher & Co from $60.00 to $63.00 and gave the company an “outperform” rating in a research report on Wednesday, February 1st. Zacks Investment Research downgraded shares of Arthur J Gallagher & Co from a “hold” rating to a “sell” rating in a research report on Tuesday, April 4th. Raymond James Financial, Inc. reissued a “market perform” rating on shares of Arthur J Gallagher & Co in a research note on Tuesday, May 2nd. Citigroup Inc cut shares of Arthur J Gallagher & Co from an “outperform” rating to a “market perform” rating in a research note on Tuesday, May 2nd. They noted that the move was a valuation call. Finally, Wells Fargo & Co reissued a “buy” rating on shares of Arthur J Gallagher & Co in a research note on Thursday, April 27th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and six have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $55.14.

In other news, CFO Douglas K. Howell sold 20,033 shares of the firm’s stock in a transaction on Friday, March 17th. The stock was sold at an average price of $56.95, for a total value of $1,140,879.35. Following the completion of the transaction, the chief financial officer now owns 31,606 shares in the company, valued at $1,799,961.70. The sale was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 1.70% of the company’s stock.

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.

5 Day Chart for NYSE:AJG

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