Arthur J. Gallagher & Co. (AJG) Shares Sold by Raymond James Trust N.A.

Raymond James Trust N.A. lowered its position in Arthur J. Gallagher & Co. (NYSE:AJG) by 7.8% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,376 shares of the financial services provider’s stock after selling 968 shares during the quarter. Raymond James Trust N.A.’s holdings in Arthur J. Gallagher & Co. were worth $651,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. HighTower Advisors LLC boosted its stake in Arthur J. Gallagher & Co. by 4.7% in the first quarter. HighTower Advisors LLC now owns 24,186 shares of the financial services provider’s stock worth $1,369,000 after buying an additional 1,087 shares in the last quarter. BB&T Securities LLC boosted its stake in Arthur J. Gallagher & Co. by 59.9% in the first quarter. BB&T Securities LLC now owns 37,437 shares of the financial services provider’s stock worth $2,116,000 after buying an additional 14,029 shares in the last quarter. Aviva PLC boosted its stake in Arthur J. Gallagher & Co. by 0.9% in the second quarter. Aviva PLC now owns 111,022 shares of the financial services provider’s stock worth $6,356,000 after buying an additional 990 shares in the last quarter. Principal Financial Group Inc. boosted its stake in Arthur J. Gallagher & Co. by 97.9% in the second quarter. Principal Financial Group Inc. now owns 1,242,484 shares of the financial services provider’s stock worth $71,132,000 after buying an additional 614,788 shares in the last quarter. Finally, Legal & General Group Plc boosted its stake in Arthur J. Gallagher & Co. by 4.6% in the first quarter. Legal & General Group Plc now owns 837,848 shares of the financial services provider’s stock worth $47,373,000 after buying an additional 36,905 shares in the last quarter. 81.59% of the stock is owned by institutional investors and hedge funds.

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In other news, insider Susan E. Pietrucha sold 3,601 shares of the business’s stock in a transaction that occurred on Thursday, August 31st. The stock was sold at an average price of $57.78, for a total transaction of $208,065.78. Following the transaction, the insider now owns 4,055 shares of the company’s stock, valued at approximately $234,297.90. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Susan E. Pietrucha sold 6,932 shares of the business’s stock in a transaction that occurred on Tuesday, August 1st. The shares were sold at an average price of $59.28, for a total value of $410,928.96. Following the transaction, the insider now directly owns 3,253 shares in the company, valued at approximately $192,837.84. The disclosure for this sale can be found here. In the last three months, insiders have sold 40,533 shares of company stock worth $2,383,295. Corporate insiders own 1.60% of the company’s stock.

Shares of Arthur J. Gallagher & Co. (AJG) opened at 60.02 on Friday. Arthur J. Gallagher & Co. has a 1-year low of $47.16 and a 1-year high of $61.44. The stock has a market cap of $10.81 billion, a price-to-earnings ratio of 24.20 and a beta of 1.20. The stock’s 50 day moving average price is $58.66 and its 200-day moving average price is $57.24.

Arthur J. Gallagher & Co. (NYSE:AJG) last released its earnings results on Thursday, July 27th. The financial services provider reported $1.03 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.02 by $0.01. The firm had revenue of $1.56 billion for the quarter, compared to the consensus estimate of $1.54 billion. Arthur J. Gallagher & Co. had a return on equity of 13.68% and a net margin of 7.62%. The company’s revenue for the quarter was up 9.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.96 EPS. On average, equities research 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 given a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a dividend yield of 2.60%. The ex-dividend date of this dividend is Wednesday, August 30th. Arthur J. Gallagher & Co.’s dividend payout ratio is currently 62.90%.

AJG has been the subject of several research reports. Wells Fargo & Company reaffirmed a “buy” rating on shares of Arthur J. Gallagher & Co. in a research note on Thursday, July 27th. BidaskClub raised Arthur J. Gallagher & Co. from a “hold” rating to a “buy” rating in a research note on Thursday, July 27th. Barclays PLC upped their target price on Arthur J. Gallagher & Co. from $61.00 to $66.00 and gave the stock an “overweight” rating in a research note on Monday, July 3rd. Citigroup Inc. upped their target price on Arthur J. Gallagher & Co. from $60.00 to $62.00 and gave the stock a “neutral” rating in a research note on Monday, August 7th. Finally, Zacks Investment Research lowered Arthur J. Gallagher & Co. from a “hold” rating to a “sell” rating in a research note on Wednesday, June 28th. One analyst has rated the stock with a sell rating, four have issued a hold rating and five have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $61.80.

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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