Legal & General Group Plc Has $61.80 Million Position in Arthur J Gallagher & Co (AJG)

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Legal & General Group Plc trimmed its position in shares of Arthur J Gallagher & Co (NYSE:AJG) by 2.8% during the 2nd quarter, Holdings Channel reports. The firm owned 946,783 shares of the financial services provider’s stock after selling 26,805 shares during the quarter. Legal & General Group Plc’s holdings in Arthur J Gallagher & Co were worth $61,803,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of AJG. Ferguson Wellman Capital Management Inc. boosted its position in Arthur J Gallagher & Co by 4.1% in the 2nd quarter. Ferguson Wellman Capital Management Inc. now owns 118,142 shares of the financial services provider’s stock valued at $7,713,000 after buying an additional 4,694 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its position in Arthur J Gallagher & Co by 53.5% in the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 148,854 shares of the financial services provider’s stock valued at $9,717,000 after buying an additional 51,904 shares during the period. Chartwell Investment Partners LLC boosted its position in Arthur J Gallagher & Co by 3.7% in the 2nd quarter. Chartwell Investment Partners LLC now owns 223,442 shares of the financial services provider’s stock valued at $14,587,000 after buying an additional 7,930 shares during the period. Bollard Group LLC boosted its position in Arthur J Gallagher & Co by 7.7% in the 2nd quarter. Bollard Group LLC now owns 54,855 shares of the financial services provider’s stock valued at $3,581,000 after buying an additional 3,920 shares during the period. Finally, CIBC Asset Management Inc boosted its position in Arthur J Gallagher & Co by 5.3% in the 2nd quarter. CIBC Asset Management Inc now owns 19,898 shares of the financial services provider’s stock valued at $1,299,000 after buying an additional 995 shares during the period. Institutional investors own 83.89% of the company’s stock.

Shares of AJG opened at $72.99 on Wednesday. Arthur J Gallagher & Co has a fifty-two week low of $57.19 and a fifty-two week high of $73.11. The company has a market capitalization of $13.17 billion, a PE ratio of 23.85, a price-to-earnings-growth ratio of 2.02 and a beta of 1.15. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.11 and a quick ratio of 1.11.

Arthur J Gallagher & Co (NYSE:AJG) last announced its quarterly 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 net margin of 9.34% and a return on equity of 15.93%. The firm had revenue of $1.63 billion during the quarter, compared to analysts’ expectations of $1.58 billion. During the same quarter in the prior year, the company earned $0.48 EPS. The company’s revenue was up 11.7% compared to the same quarter last year. equities analysts expect that Arthur J Gallagher & Co will post 3.46 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 21st. Stockholders of record on Friday, September 7th will be given a $0.41 dividend. The ex-dividend date of this dividend is Thursday, September 6th. This represents a $1.64 annualized dividend and a dividend yield of 2.25%. Arthur J Gallagher & Co’s payout ratio is presently 53.59%.

Several equities research analysts have issued reports on AJG shares. ValuEngine cut shares of Arthur J Gallagher & Co from a “buy” rating to a “hold” rating in a research report on Wednesday, May 16th. Zacks Investment Research cut shares of Arthur J Gallagher & Co from a “hold” rating to a “sell” rating in a research report on Wednesday, May 30th. Wells Fargo & Co reaffirmed a “buy” rating and issued a $78.00 price target on shares of Arthur J Gallagher & Co in a research report on Thursday, June 14th. Goldman Sachs Group began coverage on shares of Arthur J Gallagher & Co in a research report on Monday, June 18th. They issued a “buy” rating and a $81.00 price target for the company. Finally, SunTrust Banks reaffirmed a “buy” rating on shares of Arthur J Gallagher & Co in a research report on Thursday, July 26th. Six analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $75.64.

In related news, Director Frank E. Jr. English sold 2,000 shares of the business’s stock in a transaction that occurred on Friday, August 24th. The shares were sold at an average price of $72.07, for a total transaction of $144,140.00. Following the completion of the transaction, the director now owns 8,400 shares in the company, valued at approximately $605,388. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Kay W. Mccurdy sold 3,500 shares of the business’s stock in a transaction that occurred on Wednesday, August 1st. The stock was sold at an average price of $71.10, for a total transaction of $248,850.00. Following the transaction, the director now owns 32,632 shares of the company’s stock, valued at approximately $2,320,135.20. The disclosure for this sale can be found here. Insiders sold a total of 27,267 shares of company stock valued at $1,959,126 in the last ninety days. Corporate insiders own 1.60% of the company’s stock.

About Arthur J Gallagher & Co

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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