Employees Retirement System of Texas Has $1.16 Million Holdings in Arthur J Gallagher & Co (AJG)

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Employees Retirement System of Texas decreased its position in Arthur J Gallagher & Co (NYSE:AJG) by 54.0% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 17,800 shares of the financial services provider’s stock after selling 20,900 shares during the period. Employees Retirement System of Texas’ holdings in Arthur J Gallagher & Co were worth $1,162,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the business. BlackRock Inc. increased its stake in Arthur J Gallagher & Co by 1.8% in the 1st quarter. BlackRock Inc. now owns 14,678,824 shares of the financial services provider’s stock valued at $1,008,875,000 after buying an additional 265,202 shares during the last quarter. Charles Schwab Investment Advisory Inc. purchased a new stake in Arthur J Gallagher & Co in the 2nd quarter valued at about $240,671,000. Schroder Investment Management Group increased its stake in Arthur J Gallagher & Co by 0.9% in the 1st quarter. Schroder Investment Management Group now owns 1,483,635 shares of the financial services provider’s stock valued at $101,970,000 after buying an additional 12,570 shares during the last quarter. American Century Companies Inc. increased its stake in Arthur J Gallagher & Co by 1.8% in the 1st quarter. American Century Companies Inc. now owns 1,438,176 shares of the financial services provider’s stock valued at $98,846,000 after buying an additional 24,930 shares during the last quarter. Finally, Principal Financial Group Inc. increased its stake in Arthur J Gallagher & Co by 0.9% in the 1st quarter. Principal Financial Group Inc. now owns 1,207,870 shares of the financial services provider’s stock valued at $83,016,000 after buying an additional 10,705 shares during the last quarter. Hedge funds and other institutional investors own 83.88% of the company’s stock.

AJG has been the subject of several analyst reports. William Blair reiterated a “buy” rating on shares of Arthur J Gallagher & Co in a research note on Thursday, August 16th. Wells Fargo & Co reiterated a “buy” rating and issued a $78.00 price objective on shares of Arthur J Gallagher & Co in a research note on Friday, July 27th. SunTrust Banks reiterated a “buy” rating on shares of Arthur J Gallagher & Co in a research note on Thursday, July 26th. Goldman Sachs Group assumed coverage on shares of Arthur J Gallagher & Co in a research report on Monday, June 18th. They set a “buy” rating and a $81.00 target price for the company. Finally, Zacks Investment Research raised shares of Arthur J Gallagher & Co from a “sell” rating to a “hold” rating in a research report on Tuesday, June 5th. Six investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $75.64.

In other news, CAO Richard C. Cary sold 12,667 shares of the stock in a transaction that occurred on Friday, August 17th. The shares were sold at an average price of $71.95, for a total transaction of $911,390.65. Following the completion of 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Frank E. Jr. English sold 2,000 shares of the 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 transaction, the director now directly owns 8,400 shares of the company’s stock, valued at $605,388. The disclosure for this sale can be found here. Insiders have sold a total of 27,267 shares of company stock valued at $1,959,126 over the last three months. Insiders own 1.60% of the company’s stock.

Arthur J Gallagher & Co stock opened at $73.76 on Friday. Arthur J Gallagher & Co has a twelve month low of $57.53 and a twelve month high of $74.10. The company has a market cap of $13.49 billion, a PE ratio of 24.10, a P/E/G ratio of 2.07 and a beta of 1.15. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.70.

Arthur J Gallagher & Co (NYSE:AJG) last released its earnings results on Thursday, July 26th. The financial services provider reported $0.62 earnings per share for the quarter, meeting the Zacks’ 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 the consensus estimate of $1.58 billion. During the same period in the prior year, the firm 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 fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, September 21st. Stockholders of record on Friday, September 7th will be given a dividend of $0.41 per share. This represents a $1.64 dividend on an annualized basis and a dividend yield of 2.22%. The ex-dividend date of this dividend is Thursday, September 6th. Arthur J Gallagher & Co’s dividend payout ratio is currently 53.59%.

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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