Arthur J. Gallagher & Co. (NYSE:AJG) Position Boosted by Forsta AP Fonden

Forsta AP Fonden increased its stake in Arthur J. Gallagher & Co. (NYSE:AJG) by 13.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 178,888 shares of the financial services provider’s stock after buying an additional 20,700 shares during the period. Forsta AP Fonden owned about 0.10% of Arthur J. Gallagher & Co. worth $10,241,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in AJG. Pacer Advisors Inc. increased its stake in Arthur J. Gallagher & Co. by 3.2% in the first quarter. Pacer Advisors Inc. now owns 3,176 shares of the financial services provider’s stock valued at $180,000 after buying an additional 99 shares in the last quarter. Coconut Grove Bank boosted its stake in shares of Arthur J. Gallagher & Co. by 92.5% in the first quarter. Coconut Grove Bank now owns 3,330 shares of the financial services provider’s stock valued at $188,000 after buying an additional 1,600 shares during the last quarter. Court Place Advisors LLC acquired a new stake in shares of Arthur J. Gallagher & Co. during the first quarter valued at approximately $201,000. Koch Industries Inc. acquired a new stake in shares of Arthur J. Gallagher & Co. during the first quarter valued at approximately $210,000. Finally, Cambridge Investment Research Advisors Inc. acquired a new stake in shares of Arthur J. Gallagher & Co. during the first quarter valued at approximately $215,000. 83.38% of the stock is currently owned by institutional investors.

Arthur J. Gallagher & Co. (AJG) traded up 0.16% during trading on Friday, hitting $57.94. 581,798 shares of the company traded hands. Arthur J. Gallagher & Co. has a 52-week low of $47.16 and a 52-week high of $59.64. The firm has a market cap of $10.44 billion, a price-to-earnings ratio of 23.36 and a beta of 1.19. The company’s 50-day moving average is $58.22 and its 200 day moving average is $56.80.

Arthur J. Gallagher & Co. (NYSE:AJG) last announced its earnings results on Thursday, July 27th. The financial services provider reported $1.03 earnings per share for the quarter, beating the consensus estimate of $1.02 by $0.01. Arthur J. Gallagher & Co. had a net margin of 7.62% and a return on equity of 13.68%. The firm had revenue of $1.56 billion during the quarter, compared to the consensus estimate of $1.54 billion. During the same quarter in the previous year, the company posted $0.96 EPS. The firm’s revenue for the quarter was up 9.6% on a year-over-year basis. On average, equities analysts anticipate that Arthur J. Gallagher & Co. will post $3.00 earnings per share for the current year.

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

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AJG has been the subject of several research reports. Wells Fargo & Company restated a “buy” rating on shares of Arthur J. Gallagher & Co. in a research note on Wednesday, June 14th. BidaskClub upgraded shares of Arthur J. Gallagher & Co. from a “hold” rating to a “buy” rating in a research note on Saturday, June 10th. Keefe, Bruyette & Woods restated a “buy” rating and set a $62.00 price objective on shares of Arthur J. Gallagher & Co. in a research note on Friday, June 9th. Finally, Royal Bank Of Canada restated a “hold” rating and set a $54.00 price objective on shares of Arthur J. Gallagher & Co. in a research note on Wednesday, July 12th. One 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. Arthur J. Gallagher & Co. presently has a consensus rating of “Hold” and an average price target of $59.33.

In related news, insider Susan E. Pietrucha sold 4,133 shares of the business’s stock in a transaction dated Monday, May 22nd. The shares were sold at an average price of $56.06, for a total value of $231,695.98. Following the completion of the transaction, the insider now owns 112 shares of the company’s stock, valued at approximately $6,278.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Douglas K. Howell sold 20,000 shares of the business’s stock in a transaction dated Monday, June 19th. The shares were sold at an average price of $58.85, for a total transaction of $1,177,000.00. Following the completion of the transaction, the chief financial officer now directly owns 47,800 shares of the company’s stock, valued at approximately $2,813,030. The disclosure for this sale can be found here. Insiders sold a total of 49,829 shares of company stock valued at $2,904,780 in the last three months. 1.60% of the stock is currently owned by corporate 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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