Swiss National Bank Raises Position in Arthur J Gallagher & Co (AJG)

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Swiss National Bank increased its stake in shares of Arthur J Gallagher & Co (NYSE:AJG) by 3.1% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 598,185 shares of the financial services provider’s stock after acquiring an additional 18,100 shares during the quarter. Swiss National Bank’s holdings in Arthur J Gallagher & Co were worth $39,050,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. MRJ Capital Inc. raised its position in Arthur J Gallagher & Co by 142.2% during the first quarter. MRJ Capital Inc. now owns 67,100 shares of the financial services provider’s stock valued at $4,611,000 after buying an additional 39,400 shares during the period. Meag Munich Ergo Kapitalanlagegesellschaft MBH acquired a new position in Arthur J Gallagher & Co during the first quarter valued at $516,000. Thomaspartners Inc. raised its position in Arthur J Gallagher & Co by 2.2% during the first quarter. Thomaspartners Inc. now owns 3,666,662 shares of the financial services provider’s stock valued at $252,010,000 after buying an additional 80,214 shares during the period. Commerzbank Aktiengesellschaft FI acquired a new position in Arthur J Gallagher & Co during the first quarter valued at $228,000. Finally, Mountain Pacific Investment Advisers Inc. ID raised its position in Arthur J Gallagher & Co by 1.3% during the first quarter. Mountain Pacific Investment Advisers Inc. ID now owns 301,483 shares of the financial services provider’s stock valued at $20,721,000 after buying an additional 3,950 shares during the period. Hedge funds and other institutional investors own 83.88% of the company’s stock.

Shares of AJG stock opened at $72.28 on Thursday. 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 has a fifty-two week low of $57.19 and a fifty-two week high of $73.11. The stock has a market capitalization of $13.20 billion, a price-to-earnings ratio of 19.18, a PEG ratio of 2.02 and a beta of 1.18.

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

The company also recently announced a quarterly dividend, which will be paid on Friday, September 21st. Shareholders of record on Friday, September 7th will be given a $0.41 dividend. This represents a $1.64 annualized dividend and a yield of 2.27%. The ex-dividend date of this dividend is Thursday, September 6th. Arthur J Gallagher & Co’s payout ratio is currently 53.59%.

In other Arthur J Gallagher & Co news, CAO Richard C. Cary sold 12,667 shares of the company’s stock in a transaction dated Friday, August 17th. The stock was sold at an average price of $71.95, for a total value of $911,390.65. Following the transaction, the chief accounting officer now directly owns 34,793 shares of the company’s stock, valued at approximately $2,503,356.35. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO J Patrick Gallagher, Jr. bought 9,090 shares of the company’s stock in a transaction on Tuesday, June 19th. The stock was purchased at an average cost of $66.11 per share, for a total transaction of $600,939.90. Following the completion of the transaction, the chief executive officer now owns 51,698 shares in the company, valued at $3,417,754.78. The disclosure for this purchase can be found here. Over the last ninety days, insiders sold 27,267 shares of company stock worth $1,959,126. Insiders own 1.60% of the company’s stock.

Several research firms recently weighed in on AJG. Zacks Investment Research raised Arthur J Gallagher & Co from a “sell” rating to a “hold” rating in a research report on Tuesday, June 5th. Wells Fargo & Co reissued a “buy” rating and set a $78.00 price target on shares of Arthur J Gallagher & Co in a research report on Tuesday, July 10th. William Blair reissued a “buy” rating on shares of Arthur J Gallagher & Co in a research report on Thursday, August 16th. Goldman Sachs Group began coverage on Arthur J Gallagher & Co in a research report on Monday, June 18th. They set a “buy” rating and a $81.00 price target on the stock. Finally, ValuEngine lowered Arthur J Gallagher & Co from a “buy” rating to a “hold” rating in a research report on Wednesday, May 16th. Six analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Arthur J Gallagher & Co presently has a consensus rating of “Buy” and an average price target of $75.64.

Arthur J Gallagher & Co Company Profile

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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