Arthur J Gallagher & Co (AJG) Shares Bought by BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp

Share on StockTwits

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its holdings in shares of Arthur J Gallagher & Co (NYSE:AJG) by 53.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 148,854 shares of the financial services provider’s stock after buying an additional 51,904 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp owned approximately 0.08% of Arthur J Gallagher & Co worth $9,717,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in AJG. Dupont Capital Management Corp raised its stake in shares of Arthur J Gallagher & Co by 92.3% during the 2nd quarter. Dupont Capital Management Corp now owns 1,579 shares of the financial services provider’s stock worth $103,000 after buying an additional 758 shares during the period. Ifrah Financial Services Inc. acquired a new position in shares of Arthur J Gallagher & Co during the 1st quarter worth approximately $206,000. CIBC World Markets Inc. acquired a new position in shares of Arthur J Gallagher & Co during the 1st quarter worth approximately $210,000. Wrapmanager Inc. acquired a new position in shares of Arthur J Gallagher & Co during the 2nd quarter worth approximately $212,000. Finally, D.A. Davidson & CO. acquired a new position in shares of Arthur J Gallagher & Co during the 2nd quarter worth approximately $216,000. 83.88% of the stock is owned by institutional investors and hedge funds.

In related news, General Counsel Walter D. Bay sold 9,100 shares of the stock in a transaction on Thursday, August 16th. The stock was sold at an average price of $71.95, for a total value of $654,745.00. Following the completion of the transaction, the general counsel now directly owns 26,369 shares of the company’s stock, valued at approximately $1,897,249.55. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO J Patrick Gallagher, Jr. acquired 9,090 shares of Arthur J Gallagher & Co stock in a transaction that occurred on Tuesday, June 19th. The stock was purchased at an average cost of $66.11 per share, with a total value of $600,939.90. Following the completion of the purchase, the chief executive officer now owns 51,698 shares in the company, valued at approximately $3,417,754.78. The disclosure for this purchase can be found here. Over the last three months, insiders sold 27,267 shares of company stock valued at $1,959,126. 1.60% of the stock is owned by corporate insiders.

NYSE AJG opened at $71.67 on Friday. Arthur J Gallagher & Co has a one year low of $57.19 and a one year high of $73.11. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.11 and a quick ratio of 1.11. The firm has a market capitalization of $13.20 billion, a P/E ratio of 23.42, a PEG ratio of 2.02 and a beta of 1.18.

Arthur J Gallagher & Co (NYSE:AJG) last posted its quarterly earnings data on Thursday, July 26th. The financial services provider reported $0.62 EPS for the quarter, meeting the Thomson Reuters’ 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 firm had revenue of $1.63 billion during the quarter, compared to the consensus estimate of $1.58 billion. During the same period in the prior year, the company earned $0.48 EPS. The firm’s revenue was up 11.7% compared to the same quarter last year. sell-side analysts forecast that Arthur J Gallagher & Co will post 3.46 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 21st. Investors of record on Friday, September 7th will be paid a $0.41 dividend. This represents a $1.64 annualized dividend and a yield of 2.29%. The ex-dividend date is Thursday, September 6th. Arthur J Gallagher & Co’s dividend payout ratio is currently 53.59%.

Several brokerages have recently weighed in on AJG. Wells Fargo & Co reaffirmed a “buy” rating and set a $78.00 target price on shares of Arthur J Gallagher & Co in a research note on Thursday, June 14th. Credit Suisse Group began coverage on Arthur J Gallagher & Co in a research note on Tuesday, August 7th. They set an “outperform” rating and a $84.00 target price for the company. Royal Bank of Canada reaffirmed a “hold” rating and set a $73.00 target price on shares of Arthur J Gallagher & Co in a research note on Friday, July 27th. William Blair reaffirmed a “buy” rating on shares of Arthur J Gallagher & Co in a research note on Thursday, August 16th. Finally, Goldman Sachs Group initiated coverage on Arthur J Gallagher & Co in a research note on Monday, June 18th. They set a “buy” rating and a $81.00 target price for the company. Six investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The stock has an average rating of “Buy” and an average target price of $75.64.

Arthur J Gallagher & Co 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.

See Also: Stock Symbol

Want to see what other hedge funds are holding AJG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Arthur J Gallagher & Co (NYSE:AJG).

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

Receive News & Ratings for Arthur J Gallagher & Co Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Arthur J Gallagher & Co and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply