Arthur J. Gallagher & Co. (NYSE:AJG) Short Interest Update

Arthur J. Gallagher & Co. (NYSE:AJG) saw a large growth in short interest in the month of July. As of July 14th, there was short interest totalling 2,711,134 shares, a growth of 36.0% from the June 30th total of 1,994,080 shares. Currently, 1.5% of the company’s shares are sold short. Based on an average trading volume of 680,406 shares, the days-to-cover ratio is currently 4.0 days.

A number of equities analysts recently commented on AJG shares. BidaskClub upgraded Arthur J. Gallagher & Co. from a “hold” rating to a “buy” rating in a report on Saturday, June 10th. Citigroup Inc. increased their price target on Arthur J. Gallagher & Co. from $59.00 to $60.00 and gave the company a “neutral” rating in a research report on Thursday, July 13th. Barclays PLC increased their price target on Arthur J. Gallagher & Co. from $66.00 to $68.00 and gave the company an “overweight” rating in a research report on Friday, August 11th. Keefe, Bruyette & Woods reaffirmed a “buy” rating and issued a $62.00 price target on shares of Arthur J. Gallagher & Co. in a research report on Friday, June 9th. Finally, Royal Bank Of Canada reaffirmed a “hold” rating and issued a $54.00 price target on shares of Arthur J. Gallagher & Co. in a research report on Wednesday, July 12th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and six have issued a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $59.33.

In related news, insider Susan E. Pietrucha sold 4,133 shares of the firm’s stock in a transaction dated Monday, May 22nd. The stock was sold at an average price of $56.06, for a total transaction of $231,695.98. Following the completion of the transaction, the insider now directly owns 112 shares in the company, valued at approximately $6,278.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Susan E. Pietrucha sold 6,932 shares of the firm’s stock in a transaction dated 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 owns 3,253 shares of the company’s stock, valued at $192,837.84. The disclosure for this sale can be found here. Insiders have sold a total of 49,829 shares of company stock valued at $2,904,780 over the last 90 days. 1.60% of the stock is currently owned by company insiders.

Hedge funds have recently made changes to their positions in the stock. Pacer Advisors Inc. boosted its stake in shares of 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 during 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. Coldstream Capital Management Inc. purchased a new stake in shares of Arthur J. Gallagher & Co. during the second quarter valued at about $202,000. Court Place Advisors LLC purchased a new stake in shares of Arthur J. Gallagher & Co. during the first quarter valued at about $201,000. Finally, Koch Industries Inc. purchased a new stake in shares of Arthur J. Gallagher & Co. during the first quarter valued at about $210,000. Hedge funds and other institutional investors own 83.38% of the company’s stock.

Shares of Arthur J. Gallagher & Co. (NYSE:AJG) opened at 57.94 on Friday. 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 $10.44 billion, a price-to-earnings ratio of 23.36 and a beta of 1.19. The stock’s 50 day moving average price is $58.22 and its 200 day moving average price is $56.80.

Arthur J. Gallagher & Co. (NYSE:AJG) last released its quarterly earnings results on Thursday, July 27th. The financial services provider reported $1.03 EPS for the quarter, topping the Thomson Reuters’ 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 for the quarter, compared to analysts’ expectations of $1.54 billion. During the same quarter in the previous year, the firm posted $0.96 earnings per share. The company’s revenue was up 9.6% compared to the same quarter last year. Equities research analysts predict that Arthur J. Gallagher & Co. will post $3.00 earnings per share for the current fiscal year.

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

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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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